The Washington herald., 1912-01-03
FINANCEAND REALTY

Heavy buying or both washington Gas
and Railway common stocks was the
feature Of the trading yesterday on the
local stock exchange. Both stocks were
exceedlngly strong. the prices at which
they were traded setting new recent
high records
Gas stock claimed the greatest amount
of attention. For several months many
brokers had been holding blocks OF this
stock with instructions to sell when II
reached 80. At the close OF business Fri
day the best bid received for Il was ssIk
The very FIRST sale recorded yesterday
was at sok when g shares were traded
at that figure. The price then rose 70
so1. After rs shares had been traded
the price, then reached ao4. The closing
sales were at s0ss. Sales Of 100 shares
represented the business done IN this
stock during the session. The bid at the
close was soas. and the stock was to be
had at s0iz
The broken who has been active IN ac-
cumulating Railway common stock for
the past week or 50 was the buyer again
yesterday. He secured the greater part
OF 3s5 shares which were sold during cali
at the uniform price Of g. This price
was one point higher than the best fig
ure recorded at the last session Of the
exchange. Just before the close of the
regular call the bid Of 50 was withdrawn
and 5Iik substituted.
After call the bid Of So when renewed
brought out some more Of the stock, zT5
shares being then traded at this figure
The price then advanced to 62h for a
block Of 100 shares, and the closing sale
was made at 5zh for a quotation lot.
The buyer was still anxious to get the
stock and bid 52h for any part OF
1000 shares. He then advanced his bid
to So for any part Of as much as 5000
shares. but no sales resulted.
New brokerage once Opened.
Carpenter. BragEott & Co. a broker
age firm specializing in cotton securities.
which has branch ofices in seventeen
cities throughout the country, opened a
Washington branch yesterday in the
Woodward Building. Sidney B. Harrison.
member Of the local stock exchange, has
been appointed local manager. Associ-
ated with him are Rutherford wysong
and Miss Alice Malone. who were both
formerly connected with the local ONCE
Of Hartman & Co. Carpenter. Braggott
& Co. are members OF the New York
stock. cotton. and coffee exchanges, OF
the New Orleans Cotton Exchange, and
Of the Chicago Board OF Trade.
Trust Company to Incorporate.
The publication yesterday Of the notice
Of the intention of the incorporators of
the company to apply TO the District
Commissioners January g for a charter
marked the FIRST formal steps toward the
Incorporation OF the Continental Trust
Company. which was first tentatively
proposed several weeks ago when former
Senator Nathan B. Scott resigned from
the presidency OF the United States Trust
Company and took with him q coterie OF
his business associates from the board
OF dipectors Of that institution.
The other preliminaries connected with
the organization OF the new financial in
stitution will be arranged prior TO Janu-
airy 3. so that the bank will be ready
TO open its doors for business not later
than February i.
The Continental Trust Company viii
occupy the bank building at l4O5 G street
northwest, made vacant a couple OF weeks
ago when the United States Trust COM
pany moved TO its new quarters In the
the Southern Building. Former Senator
Scott will be president of the Continental
Trust. and Charles w. Warden, formerly
active vice president of the United States
Trust. will occupy the same position In
the new institution.
The published list OF incorporators Is
as follows: Nathan B. Scott. Benjamin
l. Dulaney, Thomas Somerville. W. T.
Bates Warren. r. W. Peterson,
Charles W. Warden, John c. Schofield.
Charles NJ. Warner, William G. Carter.
G. A. Landmesser, c. b. Hart. Joseph
Allan z. Walker, James /.
Colin II. Livingstone, Capt. @.
7. Scott, Paul Dulaney. F. II. Edmonds.
Cap Morrfs HorkhaIrner q + GauFhar
John L. Steele, DR.. William NJ. Sprigg,
Frank s. Bright, ]. William Henry, |
Charles G. Pfiuger. George NJ. Bowers. !
Charles A. Douglas, James L Marshall. |
s. J. Prescott, Thomas H Melton, George
E Walker, +. v. Killian, c. E West. |
Ellie Sheetz, William II. Sholes. A c. |
West, Charles H zehnder, r. J. Earn |
shaw, and John B. Espey.
Election of Omcers Is Held.
At the annual meeting Of the board Of |
directors Of the Firemen's Insurance
held yesterday, the following
oficers were elected for the ensuing year:
Allan E. Walker. president; George W.
Moss, vice president; William NJ. Hon. |
nan, secretary; James NJ. Fitzpatrick,
secretary. No changes were |
made in the personnel OF the committees |
1f the company.
Opens n Savings Branch.
The savings habit had a strong hold
IN the people OF Washington yesterday. |
This was evidenced by the unusually /
large deposits which were made at
the different banks, and especially at the
Union Trust Company. where a savings /
branch was opened for the first time.
The large deposits were partly due to
he fact that the banks had been closed
or two days. The fact that It was the
irst business day Of the year was also
argely responsible for the increased
business. The president Of one bank said
hat resolutions TO save money during
he year 1872 was the chief cause for
he large deposits