The Washington times., 1913-05-04

Although the Washington Stock Ex-
change had one or two good sessions III
the week Just closed. the total business
for the week fell below that OF last
week and the week previous. The pono
buying was small and totaied only
SIS, 600, which is 5000 less than last
week and Just a little over a half OF
the previous week The number OF
shares traded also was lower than the
two preceding weeks. 4 total Of only
"a, shares were traded, as compared
with ,4ss and I,42o shares In the two
previous weeks. respectively.
The tendency Of prices In the bond
list was upward. while the prices CT
stocks tended downward. Not single
new high was registered. but two new
lows were recorded in the stocks.
The only soft spot in the bond list
was Washington Railway As. FIVE
other issues came out, but the last sale
Of the As was at s3h, only point
above the low Of the year, although OF
this bond there was sold just one-half
of the entire bond transactions.
Not a single stock In the list showed
a hisher figure than last week. The
new lows were made by National Bank
of Washington. a drop Of five points,
and by Union Trust. a drop OF a half
point. though this stock closed. higher
thar last week. OF the entire list these
two stocks, the street railway and type
machine issues, Federal National,
WASHINGTON Gas and Steamboat were
the only ones to show sales
one new issue not previously dealt
in this year came out, Washington
Market Cold Storage SIS. $4,000 Of
which sold a. par.
One new stock was listed and traded
in for the first time. Continental
Trust, of which there were sales Of II
shares at l1s.
An interesting feature of weeks
business was the strength OF United
States Trust stock. The advanced
figures Of the previous week were weIl
maintained, but there was no sale to
record any change in price. The quo
tations closed Ii2 to i47k. though
early in the week they were up to l47
to 100.
The growth OF Washington in the past
auarter-century, as personally observed
and actively participated In by Wash
ington banker, was clearly and striking
ly brought by e. Southard Parker.
president Of the Union Savings Bank,
al the dinner rendered him Frinay night
b. the directors.
He showed that in 1851 there was not
a trust company in the city and only
one savings bank.
The banking business in Washing.
ton has had a marvellous growth, said
Mr.. Parker For many years prior 10
1857 II was In what might be called a
ouiescent state and there had not been
a bank started for over twenty years,
when suddenly II awoke from Its RIP
Van Wrinkle slumber. and In the short
space of three years Thereafter the
number Of banks was doubled and the
ca taliZation was trebled.
.'Of course. | include the trust COM
pa nies. for they do a banking business.
but draw the line on active accounts.
Bv these they mean where the customer
draws his check today and maxi his
deposit tomorrow before the returns
from the clea ring house are all In.
I'm these latter days new ba nix
comes with the frequency OF the new
moon. and the advance and pro2ress
OF washington along other lines Is fIlly
equal TO that Of the banking business.
twenty-five years ago the deposits in
the national barks amounted 10 Ns,.