Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-05-28
LOCAL FINANCIAL NEWS.

There was very little change in the
volume Of trading at the meeting OF the
stock exchange today, as compared with
that of yesterday. Some Of the bonds OF
the Washington Railway and Electric
Company sold for s2&. which has been
the price in recent days. and 111A was
paid for some Capital Traction bonds. The
bid then was Ill. with the asking price a
point and half in advance of that.
The. bid of 9s1a was renewed for the J
ner cent bonds of the Anacostia and Po-
tomac Railroad Company. but there were
no transactions In these securities untli
after call. when $1,000 sold for 9SA. The
unissued bonds of this company amount
tne TO s4Go 900. making a total Of three
millions have been sold to the Baltimore
Trust and Guarantee Company. trustees
under the bonds. and the proceeds are 70
he used in meeting the cost OF the new
work that will have 10 De Gone 70 eA.eno
the tracks of the line to the Union sta
tion The main section to be built is the
one connecting the line south or the Cap
itol via 1st street east, With the me OH
East Capitol street
trackaee to be laid by the Washington
Railway and Electric Company and ITS al
lied lines has already be done In antlcl-
patton of the new legislation
II is expected that when the work
is about completed the Sdpi'a, !.
Company will offer to its stockholders at
nar some norton of the unissued bonds OF
It's 5 per cent ISSUE
In order to pay for the enlargement OF
its power plant the Old DOMINION anu
Great Falls Railroad Company has de-
cided upon its first issue of bonds. which
will amount to S1OO.ON. bearing per
cent interest The entire issue has been
sold to bankers in this city. and 1t Is
stated that at the price secured the oonds
will WELD nearly par to the company.
The entire road which extends from
the Georgetown side of the Aqueduct
bridge along the Virginia side or the river
to the Great Falls. was built from the Is
sue of stock which amounts to Sl.oOOo
and was taken mainly by two stockhold-
ers, namely. John r. Mclean and Sen
ator ElkinS.
The surprise of the day was the sale
by the principal dealer in Capital Trac-
ton stock of 100 shares. One of the
brokers made a bid OF 125 for such a
block apparently not expecting any re-
Spouse, but one came and the sale was
made.
Afterward the seller made bid of 124
for such a block. and there were sales of
fractional lots on range Of from 126
to 126A
The exchange will adjourn over the
holiday, ana III the VIC iOoiiA
downstairs in the same building will be
fitted up for it's use, and the session Mon
day will be held there.
At a special meeting of the stockhold-
ers of the Washington Exchange Bank.
held in accordance with call yesterday,
1880 of the 100 shares of the stock OF
the bank were represented in person or
by proxy. and a unanimous vote for liqui-
dation was given.
BY resolution the bank will cease doing
business June / next. The directors OF
the bank were made trustees of liquida-
ton and instructed to close up its affairs
as rapidly as possible. Under the law
about sixty days must elapse before the
first dividend to stockholders can be
made.
The usual dividend of ~ per cent on
the stock of the Washington Exchange
Bank was declared payable to stockhoid-
ers of June 80 the books being closed
for transfer of the stock from June 20 to
June 30.
With the closing of the Washington Elk
change Bank the might bank of Wash
ington will cease to exist. The extra
hours were found to have been great
accommodation to a large number OF
people. especially department clerks. but
the accommodation of business men. The
night business. 1t is stated. was not a
losing experiment, as it little more than
paid expenses.
The National City Bank will take over
the deposits of the Washington Exchange
Bank. and will be open for business In
the quarters Of the Washington Ex-
change Bank, on 18th street, Monday.
June 1.