The times. [volume] (Washington [D.C.]) 1897-1901, 1900-12-16
BANKERS AND BUSINESS MEN.
Matters OF Interest in the Financial
and Investment World.

| ". 2. Gurley. the BIC kcr. said yesterday
| regarding the local financial outlook:
| There has been an abundance Of funds
for investment during the past two weeks
and business has been brisk in LEGAL BE-
curities, especially Washington Gas.
| believe that early in January there will
develop very large investment demand.
| MergeEtfaler. Capital Traction, and
Washington Gas will ali be bought heav
when the dividends and interest are paid.
and it will nearly all go back into 10, al
securities. The business situation is ex-
celIent and people are confident.
Money rates are low now. In this city
they will not be advanced at any time,
| believe. After the holidays they may
be still lower. AT present call loans can
be obtained at from to per cent. The
BANKS too. are lending money more free
ly and closer to the market value OF So
curities than ever before
Thomas J. Jones. President National
Safe Deposit Company: There is an
abundance OF money locally and it Is
seeking investment People who held up
their loans and their investments Letore
the election are now letting out their
money. Rates are easy. call loans being
from per cent up and time loans from
5 per cent up, according to the class of
the securities and the standing OF the
borrower.
One Of the interesting developments
of the past week has been the circulation
of a petition among tho business men
generally setting forth to Congress num-
Der of arguments against the chartering
OF I telephone company In the Dis
trict. The petition was quite generally
signed, but it was made more or less of
secret and was little talked OF in the
street 1t is recited in the document
among other things that another tele-
phone company in the city would make 1t
necessary for business men generally to
have both services in order to reach
all their subscribers. and that this would
make the cost higher than at present,
even if competition cut down the present
Chesapeake and Potomac price for one
service. 1t is suggested that new COM
pany is therefore not the best remedy for
auy evils that may exist. No substitute /
remedy is offered by the petition, how
ever The evilminded among the oPposi- |
ton to the Chesapeake and Potomac COM !
pany intimate that the petition emanates [
from that company and is not spontaneous |
with the Washington business men, but |
this is denied. both by the telephone COM
pany and by those who are pushing the
petition. There is some surmise as TO !
what effect the instrument will have on
Congress. the friends of the new COM
pany bill asserting that nothing can pre-
vent its becoming a law. and its oppo-
nents showing quite as much confidence
in the other direction. Telephone stock
has been more active than usual on the
local stock exchange, and its price is
somewhat higher this T1onth than at any
time recently. 1t is supposed that the
siglers of the petition are buying the
stock in the faith that Congress will be
persuaded 20 kill the bill. Another reason
for the strength of telephone stock is
said 10 be the acquisition of valuable
Pat ents that will cut down the cost OF
running the business without injurins the
service.
Mr.. John T. Arms is eudeavoring to Sc
cure control of the Real Estate Title In
surance Company, presumably for the pur- |
pose of being In position to talk business
with other title companies. He has sent
,ut letter requesting proxies. 1
Washington Gas has continued to he the
most active stock in the local market.
DEALINGS in it have been very heavy every !