Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-07-07
LOCAL FINANCIAL NEWS

It is the opinion of some brokers who
have a good deal to do with supplying the
demand for securities listed on the Wash
ington exchange that there would be q
much larger volume Of business II those
who make offerings Of securities. espe-
cially those belonging to the best class
were willing to take the price when the
chance comes.
On the contrary. according to some re-
cent expertences. an approach a,, within a
equal advance in that price and an ulti-
mate entire withdrawal Of the security
from sale. It is evident that doing bust
ness under such circumstances is dif1cult
Another phase OF the ,,,' m 81 is the
stand In the way Of making transaction.
all of which goes to show that while the
buying is not general. still it IL not easy
to Ali orders when they are received, ow-
ing to unwillingness Of owners OF securi-
ties to part with them at current figures.
Outside of the sales Of some lots Of tho
preferred stock Of the Washington Rail-
way and Electric Company at n and TN
for quotation lots Of fifty shares and from
n to 771k for odd lots not much was done
at today's meeting Of the exchange. Yes
terday the figures for this stock were 781s
bid and 70 asked, while today the bid was
TIA and the asking price 70.
The slight movement in the copper
stocks of recent days. especially in the
Boston market, did not result in any
trading in the copper stocks listed on
the local exchange. The figures In the
somewhat from the higher level Of yes
terday, while there were no transactions
on either day.
With money offered in the market for
call loans at ~ per cent. the per cent
rate paid for deposits OF trust companies
on the part Of banks In accordance with
the custom in other centers than this IL
BEGINNING to look rather large. However.
ket rate for money is much in excess of
the usual interest paid by banks for de-
posits of this character, ana 80 the pres
ent situation is looked upon a. q sort Of
balancing when the profits of the good
times make up for the falling of Of the
lean times.
The condition Of the banks as to cash
in hand finds an illustration In the state
ment that after the fofty-ave millions OF
United States money on deposit In the
national banks Of the country have been
withdrawn, which is to be done during
the present month, the cash reserves OF
the national banks will be largely in ex-
cess of what they were at this time last
year.
The remarkable increase In the re-
so,,rce. ~ the national hanks Of the Dis
trict during the past decade and even
during the past five years has changed
the relative position Of the District to
other localities in this country In this
particular The one detail Of the enlarge
ment Of the capital stock OF the banks
only tells a portion Of the story Of the
financial development Of the District. for
such figures do not include the deposits
Of those institutions nor Of the trust COM
panies and tho savings banks.
Arranged under the various states the
capitalization of the national banks gives
New York state the lead. with $157 ,657 900.
and then comes Pennsylvania, with Ohio
third. The following table also gives the
number Of national banks in the states
named and tho aggregate Of the capital
OF those banks: