The Washington herald., 1912-01-04
FINANCEAND REALTY


FINANCE AND REALTY
ance at the meeting OF the local stock
exchange yesterday. and lively session
resulted. Washington Gas and Railway
common were again the iee1crs While
no large advances In the prices were
recorded, fractional gains were made
The buying was largely OF an invest
ment nature.
Railway common was freely sold at
s2lz. which is half point higher than
the price at which most OF the sales were
made the day previous. The total trad
ing in this stock was represented by the
exchange OF 2ss shares. including odd and
quotation lots. At the close the bid was
52i4. but none OF the stock was to be had
at less than 52h
preferred stock Of the Washington Rail-
way and Electric Company, sales OF quo
tation and 1oo-share lots being made al
ssh and SSil. Odd lots brought ssR.
After 2o5 shares OF the preferred stock
had been traded, the best bid received
was Sif.
Washington Gas stock sold at sOx,
which Is three-eighths OF a point better
than the sales Of the previous day. After
several quotation lots had been traded,
eOE was then paid for odd lots. At the
close the stock was to be had at BOX.
but the best bid received was a quarter
point less than this figure.
Georgetown Gas stock created quite
surprise yesterday, when twenty-five
shares were sold at lis. For several
weeks there has been little attention paid
TO this stock. and the same bid and ask
ing prices have been carried along from
day to day. 1t was generally understood
that there was none OF the stock for
sale. Yesterday. when the asking price
Of lis was renewed. one broker immedi-
ately bought quotation lot at that price.
It then developed that there was still.
another piece OF the. stock for sale. but
the asking price was 40.
VIII Discuss Proposed Law.
The meeting Of real estate brokers and
property owners to discuss the proposed
law regarding deeds and mortgages.
which was scheduled TO be held at $50
January in the rooms OF the Chamber
OF Commerce, will be held this afternoon
instead. In printing the notices Of the
meeting a mistake was made, and JanIl-
ary announced as the date instead Of
January l.
II is understood that the meeting win
be largely attended. as the question 10 be
discussed is OF interest 10 brokers as
well as owners. The meeting has beea
called by a committee Of fifteen OF tae
most prominent brokers Of the city.
Changes Hands.
The Arlington Hotel yesterday became
the property of the Arlington Hotel Com
pany, a Delaware corporation, when a
deed conveying title to the historic land
mark was placed on record. The deed
was signed by Woodbury. Blair and the
National Savings and Trust Company.
trustees.
The consideration was not mentioned, |
but II Is understood the price paid was
about S1.l0QO00
The company Immediately executed a
deed Of trust TO the American Security |
and Trust Company to secure the pay !
ment TO the trustees OF 100000 OF the |
purchase price.
This Indebtedness is represented by |
notes of various amounts, all |
payable in one year. with interest at 5
per cent. payable seml-snnually.
The conveyance to the hotel company !
Is subject TO the lease held by Mrs. |
Roessle OF the hotel property and the
lease OF the ! street houses to George |
University.
Bank InsoIvent.
The Albion National Bank. OF Albion, |
The failure Of the bank was
-eported yesterday TO Comptroller Of the
Currency Murray. The cause Of the in
'olvency is alleged forgery Of notes,
which were placed in the bank by the
asher, amounting TO s1A,oes, and which
we're discovered by National Bank Ex-
Imlner Herbert Z. johnson. who has
'een placeu in charge OF the bank pend
ng the appointment OF a receiver.
Nay Re-enter Banking Business. |,
1t was reported yesterday that J. Sell
win TAFT. in connection with other cap
talists. had about decided to start a
,rivate bank or 10 organize under the
anking laws Of a nearby State When
'Ir. Tait's attention was called to this
eport last night, he said that he did not
intend to open a private bank.
Mr.. TAFT was the organizer and for
light years the manager OF the local
ranches OF the International Banking
Corporation. He resigned the position
bout a year ago.
His friends have for some time been
nxious that he should return to the
anking business, and II was decided to
rganize banking institution in Wash
ngton. As soon as this was known
everal OF Mr.. Tait's friends expressed a
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