Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-10-08
LOCAL FINANCIAL NEWS.

The prediction inactivity in the mar
lzct and Indifference OF investors to cur
rent offerings continues to be the con-
trolling influence in the local market.
just as it is in the New York market
or Wall street. as it is more generally
termed The sentiment at that center
seems to be that Taft is to win out in
the coming election. which Is also the
forecast of those who arc active in the
local market.
1t is expected if the results confirm
these predictions that the uncertainty
and indecision which is believed 10
hamper the stock market at the present
time will give way to optimism and
| active dealing. That is the viewpoint
from the stock market of the influence
of such an event as the pending presi-
Dental election.
The meeting of the stock exchange to-
day WAS not of special significance, and
there was not much change in the vol
ume Of the transactions. The bid for
Mitchell Mining stock started in at 4
! instead Of Is. which was the recorded
bid of yesterday, and the asking price
was =. But nothing happened except
several brokers began making bids OF
Is for blocks of the stock of varying
size. so that altogether there was a
Chance ia dispose OF over thousand
shares at 4.
No one took advantage OF such an OPP
portunity. and there were no transactions
at any price 1t is not explained why
such a change was made in the figures
for the stock. In fact. there is very little
known about the future of this stock, and
the attitude Of most of the stockholders
seems to be one of Indifference. based
upon what appears to be the safe con-
clus1on that the outlook is not an espc-
cia!ly reassuring one.
A payment of S. per share to the stock
holders of the Peoples Fire Insurance
Company is expected by the receivers OF
the company appointed to have charge of
the liquidation. to be made some time
during the present month. The receivers.
John r. Herrell and Henry X. Simpson.
have already made a payment Of 80 cents
per share. which, in effect. was the reg
ular dividend.
After the payment is made. during the
current month, the next distribution, and
the final one. will probably be one of
80 which will make a total re-
turn to the stockholders OF the assets
OF the company of 1915 per share. The
par value of the stock if ST.,
The American Security and Trust Com
panE. as the receivers of the Columbis
of l1quidatfng that company. began last
month the payment Of the first install
ment to the stockholders, which amount
ed to 500 per share. 1t is expected that
'tiiti pay -HeItS VIII &c mace which Will
bring the liquidated value of each Share
up to about S11JO. The par value Of
each share is So
In the present month occurs the first
anniversary of the beginning Of the late
panic. and this leads financial writer
tn make a comparison between that
period and the panic of 1888. He finds
that although the population of the coun-
try has increased during the fourteen
years some 20 ger cent. vet the number
of failures of all kinds resulting from
the panic and the liabilities Of the sus-
pended houses have been less in the past
year than during the panic of 1892
Considering bank failures alone the rec
ord for the past year shows q smaller
number Of failed banks than in the year
IN question. But the liabilities were much
greater. due to the enormous growth of
banking deposits during the past four
teen years. AS most OF the institutions
which failed during the rast twelve
months have resumed or made provision
Tor the full payment of depostors. the
actual losses are reckoned as exceedingly
small.
The conclusion is reached that the dis
tGrbance of 1870. was OF less intensity as
compared with that OF 1903 and especialIy
when the larger magnitude of the bust
ness is taken into account 1t is also
evident that American banking is in
sounder condition than was the case in
lS'3 and that the groundwork of the en-
tire financial situation is stronger now
than then cav