The Washington herald., 1911-12-08
FINANCE AND REALTY

Marked by lethargfc trading. yester-
days session of the Washington Stock
Exchange had little effect on. prices.
stocks remaining practically stationary
from one end of the list to another.
Orders were deplorably scarce with. pauc-
lily of sales. The fast approaching Christ
mas holidays were not without their en-
ervating effect, although there is an
abundance of money at per cent with
lower rate obtainable by a few. -
In the general dullness obtaining on
the Washington Stock Exchange. even
bonds We're passed over with. little ad-
dition TO the list of sales. No valid rea-
son could be obtained for the state of
the market, brokers contenting themselves
with the trite observation that yesterday
was dull day.
Washington Gas IS held at HOS; Cap
ital Traction 81 at 112h and Chesapeake
and Potomac Telephone IS at 1Olh.
Small transactions in Washington Rail-
way and Electric common, in lots Of 3,
10 and shares, failed to shake the gen.
eral price. of S. high mark for Railway
common on Wednesday. Twenty-Five
shares of Washington Gas brought S1E.
One share of Mergenthaler sold at the
opening for 22S, a subsequent deal of ten
shares declining the price a point. Twen-
| ty shares of Lanston Monotype sold at
| 9fa and a very small transaction in
| United States Trust was made at 1854.
Consider Finance scheme.
A plan presented to the Chamber Of
Commerce at the meeting of the board
of directors on Wednesday night by
Charles w. Darr. having for its object
the financing of the organization through
stock-selling corporation. is practically
new to Washington. More especially was
the plan 'broached for the purpose OF
financing the 81. 10000 George Washing
ton Memorial Hall, a proposition which
has attracted the attention OF local finan-
ciers for months, through the efforts OF
Mrs. Henry F. DimoCk, of New York.
Substantially, the plan is based upon
| the subdivision of a tract of ground, the
| formation of n stock company and the
subsequent sale Of the land at price
which will cover the original cost of the
land, interest on notes, subdivision, and
improvement expenses. together with a
profit of Il 1-2 per cent. Three attorneys
| in fact will constitute the holding COM
pany. who will issue stock based on the
cost of the lani plus the profit.
Ten years ago, one ramitication Of the
plan was tried with fair success in Will
! Transport, Pa. 1t. is presented to Wash
and B. " Cummlns, formerly connected
with the land department of the Rock
Island Railroad.
Not alone is the plan presented for the
financing of the Washington Chamber of
Commerce but is also recommended as a
pulling force for a greater population In
Washington. Great possibilities are claim
ed by its promoters. who announce their
intention of selling stock in the holding
company exclusively to Out-of-town peo-
pie who are interested in Washington as
home. The board of directors of the
Chamber will meet Monday night to con-
slider the proposition.
Subscription Books Opened.
Stock subscription books of the new
Continental Trust Company have been
opened in the temporary quarters of the
company in the Colorado Building. Ac-
tive steps are being taken in the or
ganization of the new corporation, Of
which Senator Nathan B. Scott former
head of the United States Trust Com
pany, will be president. The Continental
Trust Company, according to its pros
pectus, is capitalized at 100000. which
will be divided into 10000 shares, with
par value of 800.
Stock subscriptions are taken under the
stipulation that 80 per cent is to be
paid before December g. 1911, and the
remaining so per cent in FIVE equal in
stallments, the first to become due on
March s. 1912 One installment will be
paid each two months thereafter until
totally paid up. deferred installments to
be without interest until maturity. the
purchaser of stock reserving the right to
anticipate all installment payments with
a discount allowance of > per cent year.
Harlan Named COmmissIOner.
President Taft yesterday sent to the
Senate the name of James s. Harlan, of
Illinois. to be a commissioner of the In
terstate Commerce Commission. There
is practically no opposition to Mr.. Har-
lans appointment and ratification Of the
nomination is confidently expected.
APPOINTED Bank Receiver.
Richard W. Goodhart, national bank
examiner and we'll known in banking cir
Cles throughout the country. has been
~ tad ra.aiyar IF IA TTniDn Nation al