Evening star., 1908-01-13
LOCAL FINANCIAL NEWS.

The meeting Of the Stock Exchange
today was not productive either of much
business or many changes in the figures
The upward course Of the securities OF
the Washington Railway continued. but
no marked progress was made, except In
the case Of the bonds.
twenty-five-share lot OF gas stock
sold for 65. and the bid for more was
64h, while the asking price was 81
This stock. which is usually quite 9
trader on this market. has Of late months
been entirely neglected, and but few
transactions have been recorded in It
1t has shared with the other securities
the quoted prices, and. as in the, case OF
most Of them. the latter has taken place
with but little OF the stock coming on
the market.
Since the high level in this stock
reached during the past summer and
supposed to be due to the advantage to
stockholders in the proposed increase in
tion made to the District Court. the in
terest In 1t seems to have fallen of.
The process followed Of securing the
authority to enlarge the capital has NOT
ended as yet. but STILL owing perhaps
to the general fnanciar condition or
some other cause. the stock is no longer
much of a. factor in the daily business
OF the exchange.
At the annual meeting today of the
stockholders OF the District Title Insur-
ance Company and of the Washington
Grated under one management. although
separate corporations. directors were elect
ed for the respective companies as fol-
lows:
District Title Insurance Company
Charles G. Allen. George w. Brown. Myer
Cohen. George F. Hane. George H. Har-
ries, Alexander T. Hensey. John B. Lar
ner, George W. Linkins. William F. Mat
tingly, Theodore W. Noyes, E. Southard
Parker, E. Quincy Smith. Joseph I. We'll
Ter. s. w. Woodward and Thomas p.
Woodward.
Washington Title Insurance Company
Charles G. Allen Rignald w. Beall. Will
liam v. Cox, Ernest H. Daniel, George
H. Harries. John B. Larner. Jesse l..
Heiskell. Jacob II. Iichliter. Brice J.
Moses, Theodore w. Noyes. 2. southard
Parker. B. Francis Saul Thomas w.
Smith. 8. w. Woodward, Thomas p.
Woodward.
The statement submitted shows very
large increase of cash receipts over the
previous year. and 1t Is stated the d.
more than pleased with the results OF
business. especially In view Of the de-
pressed condition Of the real estate mar
ket
The new state of Oklahoma, where sew
eral new experiments in government are
being made. will also enjoy the distinction
OF putting to the practical test of actual
experience the NEUTRALITY-SUSPICIOUS. plan
of having the state insure deposits in
banks.
On the 10th of the coming month. in
accordance with the law of the new
state. all banks organized under the
state banking law are required to pay
to the state banking board an assessment
of ! per cent of their daily average de-
posits for the year preceding the date on
which the law becomes effective.
In this way a guarantee fund IS to
be created. which shall amount to ! per
of any bank depositors g to paid
Immediately in full from this fund.
The national banks within the state can
enjoy the advantages of this insurance,
providing they conform to the state law.
In anticipation Of the competition which
under United States charter. a number
of them have made inquiries Of the con-
troller of the currency as to whether or
not they will be permitted to conform to
the state law.
AS up to this. time there has been no
actual application made, no decision has
been announced by the federal authori-
ties. 1t is expected. however. .hat as
soon as one Of the Oklahoma banks asks
the controller for authority to come un-
der the state law as far as the insurance
of deposits Is concerned, some ruling will
be made.
It is also said that banks in the ad-
Joining states of Kansas and Missouri
are beginning to agitate the question
of similar legislation. SO that 1t would
appear as II the Oklahoma experiment
might spread beyond the limits Of that
state provided, of course, 1t proves to
be a success. 49, ,
Government Receipts.