The Washington times., 1912-03-17
IN LOCAL FINANCIAL CIRCLES
RY I. A. FLEMING.

for this action. 1t means much TO the
banking industry of this city; It means
much TO the less prominent institutions
in that 1t will help them grow in meas
ure and in strength and II doesn't hurt
the big institutions In the slightest.
IL is up to the Clearing House or the
Bankers Association to dig up the ex-
nminer. The Comptroller would not see
his way to permit Mr.. Ham to act a.
examiner for the District banks, so the
committee having charge of the mattet
has been waiting on Baltimore to as
certain whether Baltimore bankers will
get together with the local fraternity
and engage an examiner Baltimore Ia
a slow town, the bankers move with
dignity, when they move at all, and
If they do not come to an understand
ing quickly Washington must act in-
dependently. There are enough insti-
tutions here to employ an examiner,
making assessment on some agreeable
basis. 1t is not like Washington to
hesitate for months In a matter of this
kind. 1t Is months ago that the ques-
ton was brought up and much dis
cussed. 1t is time for action.
Rather important financial news else
where?
An effort will probably be made in tho
near future to enlarge the stock list
of the local Exchange. A movement
has been started to secure the listing
of the better class of public utilities of
| Richmond and of the larger Southeast
ern cities where exchange facilities are
| not offered and in some cities where
| exchanges exist but are not active.
Occasionally brokers have calls for
stocks of this character. The local list
| has become extremely narrow and the
addition of few good securities would
| But the Exchange must guard well
against the listing of securities that
have not the merit of value back of
| them. The local list will stand some
| nf ra
deal or reciprocity between the me1n-
bers of the Exchange and their GUS
toners that gold bricks and securities
of questionable value be kept off. r
| There are arguments pro and con on
! the question of making Washington a
par city, but the cons seem to have the
best Of the argument. The banks do
not want 1t.
The stock market is lacking in In
flashes The movement in Railway
shares continues, Mergenthaler is more
active than usual; Gas is steady but
slow. Either investors are taking a
rest or the new fiotations have used up
The banks are loaded They have
more cash on hand than they ought
to for results.
The rest is that they are loading UP
with Potomac Consolidated 5s. Trac-
ton and Gas 5s and with short time
notes of railroads--things that pay well,
and can be turned quickly, when the
customers come after accommodations.
The weather has many things to bear.
Retailers are going slow and buying
lighter stocks than usual, although the
long winter has enabled them to get
rid of heavyweights: real estate Is mov-
ing slowly. 1t would be suicide to show
or talk of suburban real estate in these
deluge days.
So money is unemployed. Il
Some pile of coal down at the Gas
Company's plants. Forty thousand tons.
The Washington Gas Company will
decide tomorrow whether it will take IT'S
$500, 900 Georgetown bonds or not. 1t is
! not likely that the company will sub
| scribe for the bonds. 1t can use its
money to better advantage Nor is it
likely that the $500, 900 rights will be Of
/ fered on Change. The plan contem-
plates the selling en- bloc to a syndicate
and the transfer of the cash to the
| treasury.