Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-12-03
LOCAL FINANCIAL NEWS.

The general condition in the retail busi-
ness of the city, according to the state
ments of large dealers. Is promising. ana
the outlook for trade during what Is KNOWN
as-the holiday season Is highly encouraging.
During the past fall months business mas
been good, especially In the lines winch
have to do with the equipment or houses
The only complaint heard on this score IS
the necessity imposed by local conoluons W
do so much work in such comparatively
limited time. Dealers naturally find the re-
sources of their establishments seriously
taxed when they are called upon to do
what is practically the business of the en-
tire year in the course Of few months.
It is regarded as remarkable that the
demands of the fall season are met as well
as they are.
A change Is noted in this respect which is
a welcome one, and that is the tendency in
recent years to start the fall season at
an earlier date than formerly was the case.
In many lines the activity OF the fall sea-
son begins in August and by the lst OF
September 1t is well under way. Unfortu-
nately the limit at the other end has not
been extended to any considerable extent,
so that after the first Of the year the vol
ume begins to grow less The result Is
business for the entire year is done in
some four months. -...
In the building industries, which COM
Prise of course, the varied class of ma
terial men, the outlook Is declared to be not
at all good, and the prospect now Is that
the usual spring building will be rather
limited in extent. 1t is common expert
ence with contractors that they have not
in their offices at the present time any
plans Of proposed new structures. They
are not making estimates, and in conse-
Quence they believe that the preparations
for which
made at this time of the year are not under
way. This state of affairs is attributed to
three causes-the uncertainties of the labor
situation, the unsettled condition of the
money market and the high price of ma
terials. In regard to the latter, there has
been quite recently lowering in prices,
but it came rather too late in the season to
have any effect, even IL the other phases
of the situation had been favorable.
Well informed men are unable to predict
what will be the condition in the building
trades next summer and fall but the pres
ent outlook points to a dull spring next
year.
One of the largest blocks of the preferred
stock of the Washington Railway Company
that has been sold on the exchange for
some time past was disposed of today
Seven hundred shares were Sold and with
the exception Of two fifty-share blocks Of
100 shares with only a slight shading off
in the price of one-eighth for-the hundred
share lots, the bulk was sold at 1914. The
demand that came from two buyers seemed
to be satisfied with the amount of stock Of
fered, although the selling was continued
apparently until the seller had exhausted
his supply
There was very little disposition mani
tested to trade generally. although there
was quite a brisk bidding for gas stock and
a small quantity was sold at 81 and 571A.
The result of the competition brought the
bid and asking price closer together than is
usually found in the daily quotations of the
exchange. especially in dull market.
AS rule when there Is no trading, or at
least, that which is limited In amount, the
tendency is to make a low bid and to adj
vance the asking price. On the other hand.
this is eventuated by a desire 20 diminish
as much as possible the distance between
the two prices, so that when both these In
fiuences are at work the quotations convey
a pretty good Idea Of the market value Of
the securities.