The Washington herald., 1912-01-06
FINANCEAND REALTY

Washington STOCK Exchange was de-
cidedly quiet.
Railway common. which has been SELL
ing so extensively of late. did not figure
in the trading during the regular call,
although the bid advanced from IS OF
the day previous TO 81. The stock szas
not to be had at less than IS After
call an odd lot Of twenty shares sold
for ~. The price then fell on q quar-
ter point for three quotation lots and
two odd lots OF i've shares each.
Odd lots OF Railway preferred s.oc,
sold at Ssst and 50 during call At the
close the best bid received was ssiz. and
the stock was TO be had at sS5k.
Mergenthaler was quite active. sales
OF the stock being made from 2eOH to
22Gs for quotation lots while 221 was
paid for odd lots OF shares
Lanston sold twenty shares at szz.
In the bond list Potomac consolidated
g sold 5000 at lo1K. Railway Is sold
5000 at Sx ane Sss.
Becomes Member of Firm.
Clarence Dodge yesterday was taken
into full membership in the real estate
firm OF Weaver Brothers. Mr.. Dodge has
been connected with the frrn for years
New OIL Well Reported.
The local representative Of the Buick
on Company, in which many washing
tonians are financially interested, yes
terday received e telegram from the COM
pany's field manager. AZ Feuons, Cal,
telling of the bringing in OF Buick oil
Wen NO ?. with now Of 1000 barrels
day. The company's well No. /,
brought in about year ago, Is said TO
be still flowing at the rate Of 1000 bar
rels day.
Kent Advance Causes Speculation.
A 50 per cent advance in the rents for
the buildings located in r, G, and Thir-
teenth streets. included in a sale trans
acted several months ago by the f. II.
Smith Company for a buyer whose name
has been withheld. is causing much specu-
iation In real estate and business circles
as to the motive the new owner OF me
property had In demanding this unusually
large Increase
On December the tenants OF the build
ings in question. which included practi-
cally the west third Of the block bounded
by + and g. Twelfth and Thirteenth
streets northwest. were told that in the
future their rents would be half again
as large as in the past They were also
Informed that none Of their leases would !,
be renewed. While the speculation as
to this unusual advance has covered a |
wide field, 1t is generally supposed that
the new owner was forced TO demand the |
increase IN order to cause his new ac-
QUESTION to become paying investment |
The price said TO have been paid for
this property wac quite high ana the
rentals formerly derived from IT did not
make the investment paying proposi-
tion. Il Is said.
1t is reported that the advance in the
rentals win cause several OF the tenants
of the buildings in question to seek other
quarters.
EucIId street Residence Sold.
The J. Louis wiIlIge Company has sold
for Charles W. King. jr, a local builder.
premises 12n Euclid street northwest,
Columbia Heights. The property sold Is
a two-story Roman brick dwelling, with
colonial porch and heavy tiled over
hanging roof. II contains seven spacious
rooms, with fuli tiled bath and hot water
heat The house occupies a lot twenty
feet front, by an approximate depth OF
eighty feet, TO a fifteen-foot alley, and
Is situated on a terrace facing south.
The premises conveyed is one OF a row
Of fourteen recently completed by Mr..
King extending along Euclid. Thirteenth
and Fairmont streets. II is understood
that in the neighborhood OF 1850 was
paid for the property. which will be oc-
cupied by the purchaser. DR.. Preston c. Il
Day, local pharmacist.
VIII Build Two Houses.
The II. r. Howenstein Company has
purchased from Rufus NJ. Gibbs a 'front.'
age Of forty-two feet on the south side
of c street. between Eighth and Ninth
streets northeast, and will erect two
houses on the property. The ground .
has a depth of 100 feet. and was sold ;
through the office OF the J. Louis VIII
ige Company. I
Reform In Rural Banks.
Comptroller OF the Currency Murray {
las sent formal requests TO certain ma :
ionaI banks located in rural districts, :
isking them to elect directors near !
.nough to the bank so that the national I
,ank examiner OF the District can meet 3
md confer with them at each examina- c
ion OF the banks affairs. and also ask ,
ng them TO amend, IL necessary, their :
Lrticles of association. Increasing the
lumber OF directors, so that a majority / a
4 the directors may be local residents. I
AS the matters subject to criticism are L
low brought TO the attention OF the y
'oard by the examiner. Il Is highly i'm
'ortant that at least a majority Of the
oard be available. In many cases, how p