The times. [volume] (Washington [D.C.]) 1897-1901, 1900-12-02
BANKERS AND BUSINESS MEN.
Matters of Interest in the Financial
and Investment World.

Albion X. Paris. the banker, says of the
financial situation locally: There is a
larger amount of money for investment in
p Street at present than have ever seen
before. Investors have been waiting for
the election, and as 1t has resulted salts
fectorily to the average investor, it has
made food of money available. However,
many people with funds to invest are wait
ing to see if prices ease off little from
their present level. and the result is that
the security market during the past week
has been quiet. Money rates are easy.
The nominal rate on collateral loans is
held up in come cases to 1-2 and per
cent, but little difficulty is experienced in
securing money at 4 per cent on good Sc
curities."
The local security market has exhibited
little OF novelty or interest. AS Mr. Paris
states. investors generally are placing their
orders for stocks and bonds at a level
somewhat lower than the present figures,
and the transactions have not been large
slight tendency toward lower prices has
been noticeable in some issues, but others
have held their own sturdily, and one or
two are even slightly better than they were
a week ago. Some people believe that the
local list will b. likely to have a decline
during the p. .sent month, in mpathy
with New York, if that market has its
usual after-election slump, but 1t is not
likely that any such decline will be large
or important to investment holders One
Or two of the recent declines seem to have
been the result Of manipulation and unfor-
tunate speculation on margins.
The bank stocks in general are among
the strongest in the local list. as has been
the case for some weeks past A number
of gains have been made In the bid and
asked prices. The condition OF the banks
generally is as good this winter as it has
ever been. 1t is said that the showing
when the next report to the Comptroller
is made will be particularly dattering in
all probability. Bank OF Washington Is 400
bid and 40 asked against 395 bid and
405 asked a week ago. Central Bank has
advanced from 200 bid to 800. Second Ma
tionai is 167. against 16O week ago. The
bid on Traders has advanced from 100 to
125 during the week.
The Washington Traction and Electric
syndicate yesterday paid the quarterly in
terest coupons on its 10 per cent bonds.
People most familiar with the affairs of
the syndicate have not doubted that the
interest would be paid, but some of the
denotes in F Street had heard rumors
early in the week that there might be some
difficulty regarding the interest, and these
caused some disquiet even among conser-
vative holders of the bonds The tendency
of the price on the bonds has been down.
ward all the week. Several sales were
made at so. and yesterday the best bid
was IS. Some people willing to express
themselves regarding these bonds are Of
. hao mi hat will oil
any, lower. 1t is pointed out that at so
the $4,000, 900 of the bonds outstanding
are only worth $3.50, coo, and it is argued
that with very little water the property of
the syndicate certainly is worth quite that
much.
The Traction syndicate during the week
has moved its central offices again. this
time back to the original location in the
building at the corner of Fourteenth and
East Capitol Streets. The offices in the
Washington Loan and Trust Building have
been given up entirely.
1t has been moving week among local
concerns. The Lanston Company has also
moved. Its entire plant will be located in
Philadelphia hereafter at the corner of
Thirteenth and Callowhill Streets. a por-
ton of the machine shops have been there
heretofore and the present move is made.
it is said, simply in order to get every
thing in one location. The offices of the
company are still in this city. but it is
the intention to transfer them also at a
later date Lanston stock has been quiet
this week, the price lowering around Is at
all times. The bid yesterday was IA IS.
The suit of Williams against the Dis
trict Title Insurance Company for the
appointment Of receiver" will come up
for argument in court tomorrow, having
been pushed as rapidly as possible to q
hearing by the company. President New
ton made the statement yesterday that
the corr 1any is in better shape financially
now than at any time heretofore in re-