The Washington herald., 1912-02-13
FINANCE AND REALTY

yesterdays meeting OF the local stock
exchange was not large. This was partly
due to the fact that the day was con-
sidered a holiday in other cities, and
there was no meeting OF the New York
Stock Exchange.
Railway common was the most active
issue Hundred-share lots sold from 50
down to esx. three being traded. A
quotation lot then sold at 90. The closing
bid was at that level and the asking
price was 6sik.
Railway preferred sold from s2lz TO
s2t The latter price was the closing
bid and the asking price was s2A.
After call twenty-one shares OF WASH
ington Gas stock sold at g. No trading
was done during call and the closing bid
was S. Stock was offered at SIiS-
The ) per cent bonds OF this company
sold $500 at 1loA-
The only other transaction was the
sale OF 1900 in Capital Traction per
cent bonds at 1loh and llo.
The bid price of Washington Loan
and Trust Company stock advanced TO
xxx yesterday without bringing out any
Of the stock.
Many visit Bank.
The new banking room Of the wash
ington Loan and Trust Company was
used yesterday for the first time. From
the time the doors were thrown open
at . o'clock In the morning until the close
Of banking hours the bank was crowded
with people who came in to inspect the
new banking room and also the new
vaults in the floor below. President John
Joy Edison and other officers OF the bank
were kept busy receiving the many visi-
tors.
The banking room was Rttractively
decorated with flowers and potted
plants. Mr.. Edsln's ONCE was perfect
bower OF flowers. the gifts Of the officers
OF other financial institutions and promi-
nent business men throughout the city.
Letter Reelected President.
Joseph Letter was reelected president
at the meeting of the directors OF the
Washington Gaslight Company yester-
day afternoon. Howard S. Reside was
elected vice president. a position recently
created. William B. Orme was again
chosen secretary.
other officers elected were Sanford
n. whitwelI, assistant secretary; Law
renee Townsend treasurer; Rawlins
NJ. WhItwell, second assistant secreatry.
The reelection Of Mr.. Letter as presi-
dent Of the company does not come as
surprise, as It had been freely predicted
that he would again be selected TO head
the organization. The reelection OF the
other officers was also freely predicted.
Murray Issues Instructions
Comptroller Of the Currency Murray
yesteday ordered that boards OF deectors
Of national banks hereafter shall meet
the Federal bank examiners at every ex-
animation to disctss the AFFAIRS Of the
institutions. especially their loans and
discounts In the large cities. where the
assembling of the directors may cause
considerable Inconvenience, the examiners
have been authorized to use their dis
cretion in enforcing the new order unless
some condition is fourd In the bank de-
serving criticism
Carrying out the spirit Of the regula-
ton. the comptroller yesterday notified
about 500 banks located IN various parts
Of the country that their course In re-
Gently eIecting as a majority OF their
boards directors who are not residents
OF the places where the banks are To-
Gated was Objectionable"
The directors" he said, "are noA con-
veniently available for monthly board
meetings: they cannot meet to pass on all
paper purchased or discounted; they can
not be readily convened should urgent
necessity arise. and they cannot meet
the national bank examiner when the
bank Is examined"
Financiers Have Holiday.
New York. Feb. 1.-THE New, York
Stock Exchange. the banks. and all
financial markets were closed to-day in
observance Of the Lincoln holiday. For
eign security markets were In session.
All the exchanges at Boston, Philadel-
phia, and Chicago were closed.