Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-12-31
LOCAL FINANCIAL NEWS.

The record of sales for the last day of
the year at the meeting of the stock eX-
change was a long one and as indicative
of the activity of the market was looked
upon as a promising ending of year
that has not been marked with a large
degree of dealing in local securities. In
this respect, of course, the local market
has reSembied other markets throughout
the country. and for that matter through
out the world.
The rise from the low levels that
marked the period during the early por-
ton OF the year, when the recovery from
the effects of the financial panic was be-
ginning to be felt. was manifest here as
elsewhere. This was merely return to
normal conditions and was accomplished
on a comparatively small volume of bust
ness.
What was done today will not in some
instances result in the transfer of any
large amount Of securities, stIl the bet
ter figures and the larger scope of the
trading and evidence of increased inter
est, taken together, we're regarded as
good omen for the new year.
Gas stock was conspicuous in the trad
ing of the day and also on the record on
account of the number of transactions.
The stock sold as high as 711s. and II was
bid for large blocks and remained the
bid at the close. when the asking price
was ia.
The preferred stock of the Washington
Railway and Electric company sold up to
Sis and Si7s was bid for any part of a
thousand shares The bid did not remain
at 50. but an eighth of point less, with
the asking price at S5's.
Mergenthaer sold for 2OS and at the
close was still to be had at that figure.
One thousand shares of Greene Cana
nea copper were offered at 12l2, and 1214
was bid for it.
The bid for the stock of the American
Security and Trust Company advanced a
half point over the bid of yesterday,
which was for the stock with the dividend.
but today the higher bid was for the
stock without the dividends.
Yesterday the bid for the stock of the
Union Trust Company was 11S, and today
fifteen shares sold for 40. and the bid a t
the close was 11S34 and the asking price
100. the stock being quoted eX-dividend
since yesterday. After the call forty-f1ve
shares sold for 100
The stock of the United States Trust
Company reached par on sales, and at the
close the bid was 99A and the asking
price 100.
The total clearings of the Washington
Clearing House. as furnished by the man
Z
ing today and also for the corresponding
period of last year, are as follows: De-
cember. 19OS, $26 766. 13l; December. 1907.
500. 736, 72s.
The total for the years as compared
with that of last year is as follows: 1905
1918 O79, 235; 1907, $500. los, 4O3.
The Columbia Title Insurance Company
W. E. Edmonston. president has given a
Christmas present to the stockholders by
an increase in the distribution OF it's earn
ings by paying at the dividend period
which ended today. a dividend at the rate
Of five per cent year instead Of four per
cent. as heretofore. The capital of the
company is S150OOO. and the par value of
the stock S. per share.
AS has been the case for a number Of
years past. this company is under the
same management a s that of the Real
Estate Title Insurance Company. with
joint offices and complete merging of
interests. excepting that of organic union
A similar condition exists as to the Law
yers' and the District and the Washington
Title Companies, with the exception that
the first named, which recently secured
control OF the two others, is still occupy
Ing Its own Office. 1t is expected that at
the annual meeting Of the stockholders
next month plan for further details of
the merging will be presented.
One of the suggestions made in this con-
nection Is that the offices of the Lawyers
Company. now on 9Th street. be removed
to the offices of the other companies,
which are located on 18th street between
F and G streets northwest
Since the close of the year 1907 accord
ing to the figures furnished by the Wall
Street Journal the average price of TWEEN
ty active railroad stocks has advanced
from SS.7 to 1854. or 30 points, repre-
senting some 80 per cent of the decline
from the end of 1906
The twelve industrial stocks also used
for comparison have advanced from $500
to 1913, proportionately still greater re-