Evening star. [volume] (Washington, D.C.) 1854-1972, 1912-01-13
LOCAL FINANCIAL NEWS.

Washington Railway and Electric COM
mon stock at todays meeting OF the
stock exchange sold two points and a
half higher than the best selling level of
yesterday. and the aggregate of the ales
during the call was nearly 300 shares.
The first sale was almost a point bette
than the highest previous price, and, from
that as q starter, the sales went on at
increasing figures, until the elimination
was reached when a price of 50 was aid
for a block of 100 shares. Yesterday the
highest level for Il twenty fiveslare lot
was 564. After the call twenty-five
shares sold for $50 and 100 shares for
50.
Several brokers took part in the trad
ing, and at the end one of them offei ed
to buy or sell the stock at 59ls This Of
fer was withdrawn, and at the close the
bid was 57la and the asking price 50.
A number of odd lots and one quota
ton lot OF the preferred stock at the
opening sold for sSai, and then one hum
dred shares sold for ssh. and smaller
lots for SSss. There was more stock at
the latter figure than was wanted, and
at the close The stock was for sale at
that price, while TIE bid for it was an
eighth of point less. Yesterday one
hundred shares 'sold at SSss, and odd
lots at SS%.
Washington Gas stock sold on a lower
level than yesterday, when 81 was paid
for one quotation lot and for a block Of
one hundred shares. To-day such q lot
was offered at 81 and later at 90l3, while
the best bid was 90
One hundred and seventy-five shares in
twenty five-Share lots sold on q range
of from 9Oss to 80.
The figures for the Citizens Savings
Bank, which were advanced yesterday
for quotation lots from Is to II. to-
day resumed the norma. level, the bid at
1S. The broker who yesterday bid 20
for LOCO shares renewed his bid today.
but there was no Offering of such a lot.
Two ten-share lots, We're offered at first
at 10 and finally. at II. but the best bid
for them was 15lk. In speaking today
of the rumors about the sale of the
bank Bestor r. Walters. the. treasurer
cashier said, NO offer has been made
for the purchase of the bank by the
representatives OF any other, bank. 1t
seems that once In every twelve months
a report is circulated that the control
of the bank is to be changed. / will
now state positively that this bank is
not for sale. The stockho ders are en-
tirely satisfied with earnings that now
each 8 per cent on a stock valuation of
$40 per share and II per cent on the
par value of So"
liere as superintendent of agents in the
Washington Office OF the Mutual Life In
surance Company. has been announced.
The appointment marks a change in
the system in the local Office. Mr.. Col
liere has been connected with the COM
pany for the past four years.
Officers Of the local banks, particularly
the members Of the clerical forces who
are in charge of the transit or check
departments, are receiving instruction
from o. Howard Wolfe. secretary of the
clearing house Of the American Bankers
in the new numerical sys-,
TEN of check handling, by the use of
which it has been found the accounting of
checks is greatly expedited. In this sys-
tenn the country is divided into zones,
with a number for each zone; each city
has number, and each depositOr also
has a number, so that the entire record
of checks passing through banks may be
made on the adding mach-n mes. The names
of the banks and the names Of the depos-
itors will still continue to appear on
checks but by having the recording done
entirely numerically it is predicted the
banks of the country will be enabled to
save millions Of dollars by the simplif-
cation of their Bookkeeping department
work.