Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-09-02
LOCAL FINANCIAL NEWS.

Persistent rumors of apparently steadily
growing strength have been circulating in
local financial circles for the past few
days to the effect that p. II. Lynn, presi-
dent of the American National Bank. will
become the president of the United States
Trust Company. 1905 G street northwest.
and that Robert n. Harper, formerly
will be chosen again to fill his old posi-
ton. The statements that Mr.. Harper
would welcome a reelection to his former
post. and that he is at the present time
actively engaged in seeking proxies, came
from such reliable sources that they
seemed to bear the stamp of authentic
ity. From Mr.. Lynn the statement came
that he would neither oppose the cam
didacy of Mr.. Harper. nor in any way
seek to secure his own reelection to the
presidency of che American National.
las far as / am concerned said Mr.
Lynn. "the shareholders. and subsequent
ly the directors must express their will
without campaigning on my part l have
sought no proxies, and will not do So
Concerning the rumor that 7 have been
slated to become the president of the
United States Trust Company, | can utter
neither denial nor an affirmation. L do
not know what Mr.. Davidson's wishes
are in the matter, but 1 am confident no
move will be made to have him retire
from the presidency OF the trust COM
rany unless he desires to do so.
1T is my belief that these rumors about
me going to the trust company have de-
Veloped from the fact that several of
the persons Interested in the American
National recently have become purchas-
erS OF the trust company stock, and have
consequently secured representation on
the new board of directors of the latter
inStitutition.'
IL. Bradley Davidson. president of the
united states Trust Company, gave the
impression in brief interview, however
rl,ar
after all
Ot course I cannot speak for thirty
directors he said but so far as know
no change In the personnel of the trust
conipahys officers is contemplated
Immediately following the election of
directors of the United States Trust Com
pany yesterday. with the induction of
seven new members representative of the
interests which have been large pucrhas-
erS or the stock recently, the trust COM
panys stock showed decided advance on
the local stock exchange today There
were rev, II any, offerings at the closing
price of yesterday, and 951a. the highest
bid at that time, brought out none of the
STOCK today. Instead the would-be pur-
chaSers ran the price up 10 and past 81
ana three small lots were sold at 81 971.
ana 91es, respectively. Predictions We're
freely made that the issue will soon crosS
par.
In response to early reports of the re-
suit OF the Vermont election, Indicating a
victory for the republican gubernatorial
ticket with satisfactory majorities, the
tone of the general market today was
hrm, with Reading as probably the most
active issue on the board
The local stock market also showed
more strength and activity than has ruled
at any time during the summer. There
was much bidding for the principal Wash
lngton bonds and stocks. Washington
Railway and Electric preferred, which
was sought yesterday at s21a. jumped to
81 and several sales were made at that
figure.