The times., 1901-03-24
LOCAL BUSINESS NOTES.

The past week in the local stock mar
ket has been dull, with business small
and fluctuations in prices narrow. Except
in the case of Mergenthaler Linotype
stock and some of the bank stocks there
has been a slight shading in prices. There
is no particular significance in this fact.
The speculative movements in a number
of securities have ceased temporarily,
and the board trading and margin specu-
lation consequently have not been so
prominent. 1t is not to be inferred that
interest IN local securities has eYaporated
suddenly or that there is any less merit
in them than there was two weeks or a
month ago. As matter of fact, 1t is
said that the investment demand for the
good securities on the local list is quite
as large as ever. And, moreover, the
speculation is likely to revive at any time.
Money is easy, the banks and trust COM
panies generally having abundant funds
to loan at 4 per cent on all local securl-
ties except Pneumatic Gun Carriage.
An Indication Of the healthy condition
of business on the exchange is given in
a most striking way In the fact that s2,lO)
was bid during the past week unsuccess-
fully for a membership. The statement
is made that this price would probably
be advanced to s., 500, If there were any
prospect Of its securing a seat. Mem
ago were valued at 800 Or $500. They ad-
vanCed to S400 and later to $1,000 After
that, Sl4G0 was paid for a seat and the
price was considered phenomenal The
present bid, however, is far in advance
of any ever before made. There are at
least ten of the forty members or the
exchange that never attend it's meetings,
and make no use whatever of their MEM
berships. 1t seems surprising that the
fancy advance in price has not tempted
some of these members to sell out.
A local company is being formed for
the automobile field. and it is said that
stock in the concern is being subscribed
for rapidly. The company will not only
sell number of STYLES of automobiles,
but will make a speciality of renting
stable-roOm 70 owners and of repairing
II will also inaugurate an automobile
cab service. The prospectus of the com
pany makes a very attractive showing
of probable earnings and dividend pros
poets.
The application for a receiver for the
Chevy Chase and Kensington Railway in
the Maryland courts on Friday was not
much of a surprise TO the people who
have been familiar with the affairs of
the company. The business of the line
has been fairly good, but there mas
been a heavy burden of debt that the
present management has not been able to
wipe out. In Street there is some
speculation as to who Will buy the line
in when it is put up for sale. At one
time. a year ago, the positive assertion
was made by friends of the company
that the Washington Traction and Elec-
tric Company would purchase 1t and
build an extension to Tenleytown, thus
making a through line from kensington
and North Chevy Chase TO the city.
Much surprise has been expressed at va
rious times at the failure of the Capital
Traction to secure 1t.
Developments of much interest in the
liquid air field are likely in the near fu-
ture A circular has been sent privately
TO a number of people in this city who
are interested in the practical develop