Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-10-31

and r streets. Then the telephone desig-
ton of NORTH will be used and the
present central station will be relieved. and
it is believed better service will result. A
good deal of the underground service has
been laid, and the general understanding Is
that in the course of the next year 1t VIII
be possible to speak with defniteness as
to the time when the dividend payments
will be resumed.
The Financial Age Of New York has the
following about the local security market:
When securities values are crumbling all
over the country and rumors affecting the
financial status Of leading Institutions and
individuals are rife 1t is gratifying to note
that the capital city Of the United States
has been undisturbed by the violent con-
gestion which has shaken financial circles
elsewhere. During the recent extended
period of liquidation there has been no con-
vulsion on the Washington stock exchange
Indeed. values have been maintained under
the most adverse conditions. The local Sc
curities are as eagerly sought as they were
two years ago. and as far as is known none
of its banks or capitalists have been over
extended in the slightest degree. This Is
the more remarkable when it Is taken into
consideration that disaster has knocked al
most at its door. the neghboring city OF
Baltimore having been one of the leading
storm centers for some time past.
Sound principles and a recognition of the
requirements of conservatism, rather than
good fortune alone are the causes Of Wash
ington's present enviable position among
the large CltleS OF the country. w ME IL
may not properly be classed leading
financial center 1t has had ample funds to
Indulge in the overca pitaliZation schemes
and speculative movement that tempted
alike the east west, north and south, but.
instead it continued the even tenor Of Its
ways when elsewhere sound financial tenets
were disregarded for the possibilities OF
quick profits. Washington has contributed
a chapter to the history Of finance that
might be read with profit in more impor-
tant but less conservative cities
The demand for bords still continues to
be a feature of the local market. At to-
days meeting of the stock exchange there
were buying orders for the Washington rail-
way bonds and TN was freely bid No
bonds were offered at that figure. but an
advance of one-eighth brought out $1,000.
The asking price was 724. One thousand
Of the Telephone Co.'s 6s brought 1882.
The advance figure reached by the Capt.
tai Traction stock was maintained, and
while 1913 was bid, none of the stock was
offered at less than 1924. No sales were
made.
The bidding for Washington Street Rail-
way preferred was we'll sustained at 3S1a
for 100 shares, but the asking price was not
less than 391s. An advance to 1O4N was
made in the bid for Union Trust and Stor-
age stock, but the asking price was los.
An increased interest was manifested in
fire insurance stocks and an advance in the
bid price was made practically throughout
the entire list. The only sales made were
25 shares of Arlington at 30; 30 shares of
Peoples at 6ss and 10 shares of Colonial at
100
There was considerable trading done in
Gas stock, the sales aggregating nearly 100
shares. With the exception of one lot of
twenty-five, which went for 59A. the selling
price was uniformly 60. The demand was
apparently Limited one, as the stock was
offered at 60 and at the close at 595s. with
sos as the bid price.
a few lots of Mergenthaler were sold at
a higher level than has been reached for
some time. The last ten shares were dis
posed of at 1751s, and the asking price was
116. LanSton was also gradually bid up
without bringing out any of the stock, and
a high record was made for this stock. at
least in recent months The strength which
has lately been developed was evident in
tcdays trading. but the upward tendency
was checked when a bid of ~ brought out
few lots of 100 shares EACH After that
~ was bid for the stock or for 800 shares
but no more sales were made except 100 at
~. on an option of sixty days.