Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-12-07
small, 12$.
suGAR-weak; coarse sranulatsd anA 49,
LOCAL FINANCIAL NEWS

The influence Of the uncertain condition
Of the general stock market Is felt here ire
directly. and for that reason the following
survey OF the market from the financial
column OF the New York Sun will be of In.
terest:
The rapid advance In stock market
prices last week. coming after a slow ana
creeping elevation OF quoted values that
had for some time been In progress album.
dainty justified the convictions Of those
who in the last week OF September de-
clared their belief that liquidation in Wall
street had run it's course and that the face
or the security market had turned toward
better things The grounds for these con-
vietions have been often stated In this col
marize them
They are-aside from the mere technical
diagnosis of the market as one which was
,,sa,'a ,oVersoid-the large quantity of
money IN circulation in the country now
standing at the unprecedented average OF
$ocZi per capita; the establishment Of our
currency on a satisfactory basis: the ex-
eepIohahy prosperous state of the farming
population and the large money valuation
OF the crops raised In the present sea son.
the concentrated and harmonious manage
ment OF our great railroad and industrial
companies. and the money spent out M
gross earnings In the permanent improve
ment of the plants of these conpanies i'm
recent years. Prices on the stock exchange
nave already advanced, however in a little
more than eight weeks from 81 to 500 a
share for the securities most actively
dealt in
The difference between the bid Price for
securities when there is no demand and
when there are buyers was illustrated to-
DAY at the meeting of the stock exchange.
IhFee thousand dollars in Metropolftan
street Railways rs were wanted and the
pld was advanced point and half before
a seller appeared. Starting at f15k the
pldolng went 20 III. when the bonds were
al hot. y.rf11
ther demand the bid price went back to Jig
Gas certificates were in good demand TO-
DAY, but there was no disposition In give
price much beyond what has nrevaiiad
Iof several days past. An eighth over 1l3
Was the unit of the bidding. and one lot
OF Of Hi'@Fo went for that, and also smaller
iot bid of 113h was continued for 50 600
put none were offered less than II3ss TIA
pidning advanced to 1133s but in spIte az
lnf proximity of the bid and asking prics
no further trading was done
Ihere was apparently no interest in gas
s.och at the regular call, but after cali a
pei slS's,eht efort was made TO get some,
ana the bidding advanced to 57& and
three lots of - shares each were sold ar
tilat inquire. After that there was a de-
CINE OF eighth of a point in the bid
oing, out no further trading was done
Fractional lots Of Capital Traction stock
were sold for 12s and 1874. The bid price
Tor twenty-h five shares was i22ih An adj
vance was made in the price of Washing
ION street Railroad preferred. and a block
OF 100 shares sold for 40 and one of 30 for
4ots. The prevailing price for some time
past mas been 3o1a, but there now seems to
be fairly good market for the stock at
the higher figure
" ashington Street Railway bonds were
offered at 7112. but the demand seemed to
De limited. and In the regular call nothing
was done IN that security. After the cali
.i1s was DID without bringing out any of
the bonds. ' "
Two hundred and thirty was bid for ten
shares of Washington and Norfolk Steam
poat STOCK, and pin for four shares. but
none We're offered at less than 23i
mere was some trading done in Mersen-
thaler. and on a higher level of prices fbar
i hss oeen the case for some time. Three
iots or ten shares each were sold for Js5