Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-08-03
LOCAL FINANCIAL NEWS.

| ing Company, addressed to the stockhold-
ers of the company, has been received by
| some of the stockholders. The purpose
| of the announcement appears to be to let
| the stockholders know that Mr.. Mitchell
assigned in June last to the company 1.-The
| note for S158,S75 issued to him to cover
| advances made personally to La Dicha
Mining and Smelling Company" The
circular states that this was done so as
| to afford the directors the fullest oppor-
tunity to protect the cOmpany's interests.
| Mr. Mitchell adds that he left it OPP
| tional with the directors either to cancel
| the debt entirely or to leave it to be paid
when the money should be earned out of
! the mines.
! A stakeholder is responsible for the
statement of his belief to the effect that
| an attempt is being made to have
Mitchell assume charge of the COM
| pany's works.
| Nothing Of special interest occurred at
| the meeting Of the stock exchange to-
day The newly issued 5 per cent GER
| tificates of the Georgetown Gas Com
pany which have just been listed on the
| exchange Mere called and quotations were
supplied without an effort being made to
| do any trading. The bid was lV' ana
the asking price was III.
The stock of the company was passed
along In the usual perfunctory style that
has been common for some time, and the
same was also true OF the securities or
the Washington Gas Company. Accord
ing to one of the brokers, numper OF
inquiries have reached him Of late as to
when the upward movement in gas Sc
curities was going to set In. He was
SURPRISED both as to the nature or the
inquiry as we'll as by the number OF in
quirers.
He said he told them he did not know
anything about such a movement and
they said they did not either. except
what they saw in the newspapers. 1t Is
recalled that from time to time when pre-
dictions of that kind have been made on
the exchange that the fact has been not
ed in the public press. 1t appears that
it has aroused a good deal of interest
among quite a number of people, who
are now looking for some naturalization.
What effect the Hartman interests are
going to have on the Gould railroad prop
critics is of course an unknown quantity
at present. There is some local concern
on this point because of the Western
Maryland and its much talked-about
plans for gaining an entrance into this
city. But Mr.. Hartman has taken to the
woods, and although 1t is said that he
has a telephone running to his camp.
where he is supposed to be resting. yet he
has not used it for revealing his purpose
about the Gould lines If he has any.
A slow but steady improvement in the
business situation. as well as in the finan-
cial and industrial conditions. is the con-
cluson which is reached by expert OBJ
servers and students of the current course
of things. From this point of view it is
pointed out that a large wheat crop Is
practically assured and the prospects for
corn and cotton are excellent.
TIT, e., davr fny CIR
and also for copper. Money is abundant
in the banks and there is a plentiful sup
ply of railroad cars. but 1t Is anticipated
that the harvest demands will make calls
upon both of these resources.
The New York city banks have not as
yet formed national currency associa-
ton. as the bylaws agreed upon at a
meeting of the representatives of the
banks of that city contained provisions
restricting the membership to banks in
Greater New York and the optional re-
tirement of members of the association.
AS such features are not in the law
authorizing the foundation Of such asso-
citation the bylaws have not as yet been
approved by the Secretary Of the Treas
ury.
However. it is said that the representa-
tives Of the New York banks do not think
it is necessary to push this matter. as
they believe there is not the remotest
into operation this fall. and possibly not
for several years to come.
The character of dealings In the New
York stock market during the month is
brought out by the statement of the total
sales of stocks and of bonds during that
period, as compared with the correspond
ing month of last year..
In July. 1908. the aggregate of the
stocks sold reached $13. BOG. 600. while in
July. 1907. the sales were So $4,000 The
sales of bonds in July. 1908. reached
$3.50 585. 600 while in July 1907, this aggre-
gate was $25.O7S.OOO.
The bond transactions for July were
larger than in any previous year for that
month since 1885, while the business done
in stocks for the past month represents
about a normal level of business for that
month. Such dealings since January 1.
1905 show a large falling off, as COM
pared with the corresponding period for
eevoral vparS hank