Evening star., 1914-01-21

Wash. Loan and Trust 2o3, I03 loi, 49,
While there is very little community
of interest In financial Washington save
between two or three institutions, there
are many directors of institutions on the
boards of different banks. For years
friendly, even close relations have ex-
listed between some of the trust com
panies and certain national banks, but
1T has never been charged here that the
same control or domination OF the money
market exists here as has been charged
in New York, Chicago and elsewhere
in a word, the directories OF Washington
financial institutions do not 'interiock
here as in large cities
Passage of a law forbidding bankers
in the federal reserve system being dl-
rectors on other institutions boards. un-
less such ruling has been made, would
seem to fit the bill.
banks to adjust themselves to whatever
conditions are exacted in the abolish
ment of interlocking directories.
Bond business was active and broad
blocks Of Railway As met selling
orders and good business resulted,
SAL 900 being sold at the recent uni
form price of 80 These bonds were
taken for banks investment OF funds.
AS indicative of the real strength in
the bonds the broker having the sell
ing order offered to take the buying
side of $4,000 or any part at 7sa. .
Washington Gas 5s moved up y OF
a point to 1O7, while Capital Traction
IS made like gain to ioS Il .
Potomac consolidated IS firm at loo.
Small bonds are very scarce and in
good demand. AS high as Sl1s was paid
for per cent Railway bond
washington Railway and Electric
preferred continues to meet with a
good demand at 80 The common stock
was nominal at SO bid. 81 asked.
Capital Traction. 112Aal14A.
No nf
slow. Washington Gas sold at 83M,
which was decidedly stronger.
Wall street. its actions speaking louder
than its words. apparently has little or
no fault to find with the message. The
general opinion was that the message
had been discounted in the rise of the
previous week and the strength of the
last day or two. But prices We're again
on the rise this morning. They were at
the strongest after the noon hour with
moro liberal trading and with commits
sion houses taking favorable view of
the situation.
The idea of the Interstate commerce
commission regulating stock and bond is
sues seems to meet with favor. AS pro-
tecting the investor from Rock Island.
Alton, Frisco and other emburdening of
railroads with overcapitaliza tion-suffi-
cient to badly strain If not break organa-
izations.
The December statement of the Balti-
more and Ohio system was not encourag-
ing. 1, showed operating revenue de-
creases of $393. 172 At that there was a
decrease in operating expenses of $1I5.S0J
| and a net revenue decrease of S211.:;6l.
At the annual meeting of the stock
| holders of the Old Dutch Market, Inc.
j held at the companys office in Alex
andria. Va. Monday. ii was announced
that the company's sales for 1913 showed
mn ro1 10
| preceding year. At 10 per cent dividend
| was declared on the common stock. and
| a per cent semi-nnual dividend on the
| preferred stock. The capital stock of
S15O,OOO is mostly held by residents of
| this city.
| The company is six years old, it is ex-
plained, and has paid 10 per cent divi-
dend each year. besides accommodating a
surplus account. Directors elected for
the year are J. A. Whitfield. D. B. Cas-
| ley. +. D. Casey. A. II. MARKS ana John
Dolph
| II IL expected that there will be between
! 30 and 300 guests at the annual dinner
of the District Of Columbia eankers AS
sociation. TO be given in the main bali
room OF the New Willard next Saturday
| evening.
| The dinner committee, Messrs. William
A. Mearns. John Poole and George W
White, has not completed the program. as
they are waiting for decisions from a
number Of notables who have been asked
| to speak.
| William A. Mearns will act as toast
| master following the welcoming OF the
guests by President B. F. Saul.
President Wilson had not signifed his
acceptance or regrets up to noon today
Secretary Bryan has accepted and will be
one of the leading speakers OF the even
! ing.
Senator Hollis OF New Hampshire, a
close student of financial matters. has
also accepted an invitation to address the
bankers and their guests.
Suficient progress has been made 10 in.
sure both wit and wisdom at the feast.
| Apropos of reference in Congress to the
recent heavy Investments in Canada for
the account of Americans and the efforts
being made in an advertising way to in.
crease immigration of Americans