The times. [volume] (Washington [D.C.]) 1897-1901, 1901-04-28
IN THE BANKERS CIRCLE.
Local Investment and Speculative
News and Gossip.

IN THE BANKERS CIRCLE.
Local Investment and Speculative
News and Gossip.
The local stock exchange has been
rather tame during the past week. with
| business not as large as it was q week
or two ago. and with prices showing few
changes of Importance This tagging
tendency has been especially noticeable
| in view of the wild buoyancy of the New
J York Stock Exchange. 1t may be said,
/ however. that the trend OF price has been
! upward in nearly all cases, and that the
1 amount of business transacted is much
| in excess of what would have been con-
| sidered good day two or three years
/ ago. 1t is evident, in fact, that the bust
ness of the exchange is growing in inn
portance and volume from year to year.
/ despite it's dull periods An evidence of
| this that is unmistakable is the contin-
| ued demand for seats on the exchange.
! There has been a standing offer of S20oJ
| for a seat for two or three weeks, and IT
| is probable that somewhat more than
J that amount would be paid. If a member
! ship could be obtained The lowest price
! at which any seat is for sale Is 2,5Oo.
| Money is a trifie sitter locally, though
there is still plenty of funds at u little
above the recent lowest rates.
| Investors generally are interested in the
! proposed new bond issue of the Washing
| ton Market Company The stockholders
| of the company recently authorized the
| issue of 100000 of per cent registered
! consolidated bonds, running from ten to
| fifty years, for the purpose of consolidat-
| ing the bonded and other Indebtedness of
| the company and for raising money for
| improvements. The larger part Of the is
sue is to be used in retiring about $500. 600
| of per cent bonds outstanding at present.
and $4,000 of per cent notes. The sue
cess of the plan, therefore, depends al
| most entirely on securing the consent Of
the old bondhoders. The new bonds are
to be issued at par and holders of the
old issues are to receive for them a
premium sufficient to compensate them
for the difference in the rate of interest
during the period which they still have to
NUN. The offer is made subject to its ac-
Stance by holders of four-ffths of the
bonds. 1t is understood that many
ON present holders are signifying their
acdSscence to the plan, but that others
express themselves as unwilling to invest
in per cent bonds on market house prop
erty. and especially since the issue is 20
be increased in size with no additional
security.
a block of 100 shares of Metropolitan
Bank stock was purchased recently, out
side the local exchange, for $500. The reg
ular bid now apparently is 500 The adj
vance in the price of the stock has been
the most rapid ever made by any securi-
ty on the local exchange. All the bank
stocks are selling at their top prices.
Bank of Washington is 40 bid, AS asked,
and AS has been bid for 1t. Central is
225 bid. and Farmers and Mechanics is
z}5 bid. Columbia has advanced to $50
bid, and Traders to 135 bid.
The annual report of the Lanston Mon
otype Company, figures from which were
published exclusively in this column a
week ago, does not seem to have done
the stock of the company any good. 1t
has been very dull on the local exchange
during the past week. with a few sales
at 14A. a local financial paper devotes
the chief article in its current number to
what purports to be the Lanston report
itself, but what is in reality largely edi-
torial comment on the report.
Mergenthaler Linotype stock was in
clined to buoyancy during the greater
part of the week. and on Friday sold at
163. Yesterday. however. it went off TO
IT, on sales by one broker. and one lot
of 100 shares was sold by him at 1917.
Friends of the company express them
selves as hopeful that there will be an
adva nee in the stock when the next earn
inGs figures are given out. as it is said
that the showing is an excellent one.
There was a sharp bulge in Pneumatic
Gun Carriage stock yesterday, sl2 being
paid for 100 shares on the call, and SIS
bid for another hundred shares after the
call.
The title insurance securities have been
in demand and the prices have been stiff
for two or three weeks. Yesterday 100
shares of Columbia Title were sold at 5.
A hundred shares of Washington Title
were sold at 3fs. but the price on all other
sales recently has been better than that.
1t is supposed that the plan to consoli-
date the various companies has received
new impetus, though nothing definite re-
garding the matter can be learned.