The Washington herald., 1912-04-20
And REALTY

The meeting Of the Washington Stock
Exchange yesterday was quite dull, the
volume of business transaction beins
small.
Nothing was done in Railway common
until after call, when fifty shares sold
at s6z. The closing quotations were Ssh
bid and SSx asked.
Two quotation lots Qf Railway pre-
ferred sold at s3H. A single share
brought s4is. At the close "a, the selling
price OF the day before, remained the
asking price and the bid was 93iz.
Several lots OF Washington Gas stock
sold at SsIs. the last selling price OF the
day before. The closing bid was S3A
and the asking price SS&.
Twenty-Five shares of Georgetown Gas
sold at 1Ss, which is a recent high price.
The bid for more was 40, but the lowest
offering was 1s3.
The sale Of 5000 in the consolidated
5 per cent bonds Of the Potomac Electric
Light and Power Company at 1O3Is at
tracted some attention. The price paid
is the highest reached by this security
in many years. The closing bid was 1oa
and the asking price 1904.
To Sell Union Savings.
Announcement was made yesterday
that the Union Savings Bank will soon
change ownership.
Z. Quincy Smith, president Of the in
stitution, has resigned his position in
order to accept the post Of first vice
president Of the United States and Mex
ican Trust Company. OF New ork, at
a salary Of 5000 a year. Mr.. Smith
owns the controlling interest In the
Union Savings Bank. which his father
F. H. Smith. organized in 1881. After
May / he will devote his entire time TO
his new position. For that reason he
deems It advisable to dispose Of his
holdings in the Fourteenth Street bank.
Although he Will sever connections with
the Union Savings Bank, Mr.. Smith will
retain his interest in the F. H. Smith
Company. real estate brokers, and in the
Commercial National Bank, of which
he is a director and large shareholder.
He also will retain his extensive real
estate holdings in this city.
Mr.. Smith yesterday said no definite
arrangements have as yet been made for
the sale OF the Unon Savings Bank. He
said he would rather see the institution
become the property of some one who
merge with any other bank.
The United States and Mexican Trust
Company is not in any sense of the word
a bank, as it does not receive deposits
1t is largely a development company.
Starting ten years ago with a capital Of
s25O.00O, it is to-day a H.25o,Qo concern,
with an actual surplus of more than the
capital
Its main office is in the Singer Build
ing. In Kansas City It owns its own
of1ce buildings. 1t has a large English
business with offices in London, and oc-
cupies the largest ofice building in Mex
leo City.
To Entertain Visitors.
At a meeting of the conventions COM
mittee of the Chamber OF Commerce
yesterday afternoon 1t was decided the
Chamber should be requested to appro-
pirate 500 for the entertainment Of the
visitors to this city on the occasion of
the Columbus memorial unveilIng. A
large proportion Of the money will be
used to defray the expenses connected
with a number of band concerts which
are to be held in the various parks.
Buys Six Stores.
P. F. NeIigan has purchased from En-
NETT L. Petit six one-story stores at
i401-1h1 Florida Avenue Northwest for
$500. The sale was made through the
office of Alexander & Shinn In connec-
ton with Dwight Anderson. The pur-
chase was made as an investment The
property has frontage of forty feet in
Fourteenth Street and 12s feet in Florida
Avenue.