The Washington times., 1913-04-25
BUSINESS BR|GHTENS
ON LOCAL CHANGE
Session Is More Act :, But the
Tendency Of Prices Is Less
Firm-Bond Issue.

rne Washington Stock Exchange
made up today for its inactivity Of yes
terday by transacting a good grist of
business The trading extended over a
fair list OF both bonds and stocks.
There was a softening tendency in
Washington Railway As. for tthe first
time in weeks. After 5000 of the bonds
hsd been sold at $50. the price dropped,
and $1,000 was sold at - and $1,000
more at H. After call, however, it was
necessary to pay 81 for a $500 lot. In
Potomac Consolidated SIS, after one lot
sold at l00A, two more went at frac-
ton less.
Washington railway common cont;n-
1ed strong and a quotation lot sold At
9a Two flre insurance stocks came out,
Firemen's, OF which six shares sold at
%. and National Union. oil which thirty
shares sold at 6. Forty shares Of Union
Trust went at 1854 and NB was paid
for 100 shares of Lanston. The other
trading was small.
The governing committee of the stock
exchange mot this afternoon to consider
the application of the Continental Trust
Company to list its stock. 1t was ex
pected that favorable action would be
taken.
The United States Realty Company
today placed on record a $4,000 bond
mortgage to the United states Trust
Company. The bonds bear S per cent
interest and run for twenty years.
They are in denominations of $500
each According to a statement OF
ne realty company II has taken over
the Havemeyer property including
Overlook Inn, containing about TO-
oeo,oo0 square feet of ground. 1t is
understood the company Is planning
an early extension of its line from
hA .nNrl.r T.
the Anacostia RIVER to connect with
the Chesapeake Beach Railway and
that this extension will run through
the property acquired.
The spring meeting of the execu-
tive council of the American Bankers
Association and its various commit
tees will be held at Briarcliff Lodge,
Briarcliff Manor, N. Y. May 81.
The National City Bank, Of New
York. has issued statement In ref
erence to its connection with the work
Of Miss Lotta Taylor in the office of
the Comptroller of the Currency, in
not feel that there is anything In its
relations with the Treasury Department
to require explanation, but that "the
public should have the exact facts"
The statement Is as follows:
For a number of years the National
City Bank has had an agency in WASH
ington for the purpose Of farn shing a
convenient means to its correspondent
banks to have the representative re-
Qufred by law in connection with the
destruction of National bank notes and
the handling Of bonds TO secure oircu-
lation and deposits. 1t has also been a
practice, in which we have had the tull
cooperation Of the Treasury Depart
Comptrollers office to compile such In
formation from the statistics in the
Comptrollers reports as IL 10 customary
to give out to anybody who desires 10
have II. .....-.
The National Bank act provides that
ever ynational bank shall make a report
OF its condition upon the Comptrollers .
call, shall forward that to the Comp
troller's office within five days Of the
date of the call, and shall publish IL
the periodic call OF the Comptroller is
10 display the condition of national
banks to those who have business rela-
tons with them.
Currency, as is well known, are public
property. except in SO far as they con-
Germ the private relations OF a bank
with its customers. which are never
statistics as to the condition of banks
are published in the newspapers all
over the country and become public
property long before the National City
Bank obtains them in the omptrollers .
cffice.
I'VE have for many years kept a
card index showing half a dozen OF the
principal items, such as surplus. de-
posits. loans and overdrafts Of all ma
tional banks. Originally this was OBJ
tained in more or less incomplete form
by securing the information direct from
individual banks The information is
not compiled by the Comptroller for
thirty days or more after IL is published
by the individual banks. II is manifest
ly an impossible task TO get six or
seven thousand banks to send copies
Of their statements promptly. We have
found, therefore, IL was a better plan
TO obtain the information directly at the
Comptroller's office, where il Is all GEN.
tered and where il has always been open
for anyone making inquiry. The work
Of compiling this information for the
use OF the National City Bank has to be
done in the Comptroller's office. be-
cause the reports are not permitted to
be taken from the office. Obviously to
make UP the statistics II is necessary
to use a desk, but there is no regular
place assigned or any connection had
with the Treasury Department except
this.
The National City Bank does not feel
that there is anything in its relations
with the Treasury Department 10 re-
ouire explanation, but II does feel that
on all such occasions the public should