The Sunday herald and weekly national intelligencer., 1891-12-20

There is growing disposition to put money
into good local securities and steady in
crease in the aggregate of transactions from
week to week. The depression and discourage
ment which has hung over tho market for
more than year appears to be taking its
fight, and the growing ease in the money
markets of the world will still further stimu-
late the confidence which is rapidly develop
ing as this condition OF the financial situation
becomes prevalent here. For many months
there has been constant strain on our finan-
cial institutions to carry the heavy issues of
desirable bonds which some of the best COM
panies of the District have had occasion to
issue. The security offered has been the best
and the banks have been glad to accept the
bonds as collateral security for loans, but the
dealings in stocks have been much less for the
reason stated. But at last the issue of bonds
has about reached its conclusion and better
condition is rapidly developing in the stock
market.
The Comptroller of the Currency has again
been much commended for hi foresight in
not delaying his call upon the banks for
statement until the close of Dec ember, as has
frequently been the case under his predecess-
ors. To put off this call always has the effect
of increasing the money pressure incident to
the close Of the year. But the call having been
responded to leaves the 5000 national banks
throughout the country free lenders, rather
than contractors of loans.
feature of the market last week was the
iivity in Washington Loan and Trust stock
the aggregate sales of which were 162 shares,
wii'i variation in the price of but per cent.
II vi the highest to the lowest. The highest
sale was at los; the lowest, 1911.
Another feature was the free buying of
Lincoln Bank stock, 50 shares of which
were sold at from 99l up to 1909. At the
close there was none OF this stock offered on
the board. Privately about 80 shares were for
sale at 1901 As this bank has a surplus of
over $4,000 and deposits of $400, 900, with
some prospects of an early dividend, though
the more conservative members of the board
oppose it just yet, it would seem that current
prices are most inadequate for this stock.
The only other sales of bank stock on the
exchange was of 30 shares of West End, 20
of which brought 95, and 10, 96. The good
management and gradual growth of this in
sttution would seem to justify much better
price for this stock in the near future
There was decided improvement last week
in the quotations for Belt Railroad stock. The
previous week 10 shares were sold at 3S. Last
Monday % shares were sold for 80, but later
40 shares brought 40! with Al bid on Friday
The closing bid Saturday was 40, with 43, the
lowest offering.
The only sales last week of insurance stock
were several small lots of Commercial, aggre-
eating 20 shares, at 45 to 5, 50 at the latter
price. Toward the close of last week there
was an improving market for the U. s.
Electric Light stock, 20 shares of which
brought 140, Privately 10 shares brought 152.
The low offerings OF this stock appears to be
an attempt to depress the price, which has
been improved by those well acquainted with
its true worth to increase their holdings.
The sales not specially mentioned above
were 6,000 Electric Light convertible SIS at
1851 to 100, 4,500 lexington 6's at 96t to 964
5000 Metropolitan Railroad 6's at 1881 to 1lSI
$500 Washington and Georgetown Railroad
convertible 6's at 145 to 146, So shares Wash
ington Gas stock at 42 to Al, 600 Pneumatic
Gun Carriage stock at 81 down to 5s 100
Washington Gas, per cent. a bonds, at 131,
800 Washington and Georgetown Railroad
bond rights at 145, so Q. 8. Electric Light
scrip at ITO, and 1000 U. S. registered AS
at 117s.