The Washington herald., 1912-02-29
FINANCE AND REALTY

4
/ for $4,000. but just before the session
closed 5000 again sold at l0z.
The sale OF twenty-five shares. of Cap
4 itaI Traction stock at lzsx was the only
business done In traction stocks during
call. After cell one share Of railway
preferred sold at ssH. No trading was
done in Railway common
Merganthaier was quite active at Z2zis.
| while Lanston sold one share at slh-
washington Gas opened at s.. and ad-
vanced to S5h. After can the stock
| sold at SSs.
ODD lots of Graphophone preferred sold
at IS, which was the bid at the close.
| The asking price was IS. The last re-
4 corded sale OF the stock was at z. The
bid for Graphophone common advanced
from 10 to II. with no offering.
New Transportation Company.
Announcement was made yesterday
that the Suburban Transportation Com
pany, articles of Incorporation for which
were taken out several days ago VIII
lbe ready to operate a line of automo-
bile busses between the southeastern sec
| ton of the city and Bradbury Heights
about April l. The buses will be Of the
gasoline type. The eastern terminal dur
/ ing the rush office hours probably VIII
be at Eighth street and Pennsylvania
| avenue southeast, while at other times
II will be at the intersection Of Minne-
sofa and Pennsylvania avenues.
The company has named five trustees
| to manage the business, as follows:
Robert +. Bradbury, C II. Ktndle, Her
man Fisher, George Slater. and +. +.
Repetti. The company will elect officers
4 this afternoon.
Four sale. Reported.
The sale of three residences and a lot
was reported yesterday by Harry "
Bouic & Co. The hoLses sold are three
OF the row recently built in Fifteenth
street northeast by c. B. Hight, two
story, six-room dwellings. Each was
sold for $3.50 The firm also reported
the sale of seven of the ten two-story.
eight-room houses just finished by L. E.
Breuninger. at Thirteenth street and CO.
Iumbia road northwest, for T,00.
Mrs. George Railey bought the house
at ga Fifteenth street northeast: w. i.
MeGee at S3i Fifteenth street. and J. +.
p. MCGEE at 3Ss Fifteenth street
| II. II. Bergman purchased lot. 70
by 30 feet, on the north side Of Lowell
street, Just east of Wisconsin avenue,
| for about 6, 900. The sale was made by
the Bouic company for Mrs. Mary VIII
cox.
Property Purchased.
John II. Nolan yesterday purchased
from Mrs. Kate woodman Babcock sew
eral properties at the northeast corner
| of Twenty-irst and I streets, at the
| junction of Pennsylvania avenue north
west. The frontage is l2i feet on street
and l5s feet on Twenty-first, including
number Of old dwellings. A trust OF
81. 900 was placed on the property.
Buy Business Property.
Fred W. and John H. Miller yesterday
bought the building at so Ninth street
northwest, adjoining the lnter-Ocean
Building, on the south. The property has
frontage of % feet and depth OF IS
feet trus. OF $4,000 was filed In con- |
nection with the deed.
Changes Examination Schedule.
According to an announcement made |
Yesterday, on and after April ], 1sl2, |
whenever the reports Of an examiner
show any national bank to have loans
made in excess OF the limit prescribed
by the national bank act, the Comptrol- !
ler will issue an order that the bank In |
question be examined at least four times |
a year instead of twice a year. the order |
to remain in effect until the law is |
observed.
In case the examiner at the time OF |
his examination finds excess loans which |
are reduced to the lawful limit while |
he is in the bank. and formal resolu-
tion is passed by the board Of directors |
agreeing to discontinue making excess |
loans in the future, the order for an In |
creased number Of examinations VIII not |
be given.
The section Of the bank act relating |
to exceed loans provides that the total
liabilities of any bank, OF any person, or /
of any company, corporation, or nrm
for money borrowed, including In the |
liabilities of a company or nrm the la
biIities of the several members thereof.
shall at no time exceed one-tenth part OF
the amount of the capital stock. actually |
paid in and unimpaired. and one-tenth
part Of its unimpaired surplus fund.
The section Of the national bank act
authorizing examination does not IN any
way limit the number Of examinations
in any year, but provides that they shall
be made often as is deemed necessary.
This order is not made effective until
April /, 1912. in order to give such banks
as have excessive loans full opportunity /
TO reduce them without Inconvenience.
When giving out the order Comptroller
Murray said:
Loans made in excess Of the limit
prescribed by the national bank act are
illegal loans and an Illegal loan has no
place in q national bank or in any other.
There are Just two things under the ma
tional bank act that can be done by the
Comptroller to prohibit excess loans; one
is, in case there is loss on an excessive
loan, to make the directors who approved
of the illegal loan personally responsible.
There is plain provision of law on that
point, and an order has already been
given. The second thing which the Comp
troller can do is TO increase the number !
OF examinations per year, and this or
der is now given
The percentage of banks-vfolating this
law during the last two years averaged
from IA per cent to 10 per cent, and the
number Of banks from L026 to 1884
Will Build Eleven Houses.
D. d. Thompson took out permit re-
Gently to construct eleven two-story brick
houses from ll16 TO 413i New Hampshire
avenue. and 61o Upshur street northwest
The houses will be OF six room and bath
red brick style, with all modern improve L
ments. The building will start next week
- At