Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-11-10
Grain, Provisions and Cotton Markets
LOCAL FINANCIAL NEWS.

| The general condition OF local business
| indicated by the demand for money on
| financial Institutions has not materially
changed during the past few months. IL Is
| evident, however. that money is somewhat
| more abundant than has been the case.
This is indicated by the increase in he
amounts paid into banks on account OF the
curtailment of notes.
The percentage of such curtaiment 1t IL
noted Is now considerably larger. part OF
this is attributed 10 the greater freedom
in the payment If money due from the
District, which became considerably re
strlctcd following the defalcation in the
District office and the delay incident to an
oxerhauling of the methods of doing bust
ness
1t is feared by some that in making a
change in methods especially those relat-
ing to the disbursement of money due by
the District there is too much of tend
ency to adopt what Is termed ultra-con-
sentative rules. with the result that the
creditors of the District will be obliged 10
wait an unreasonable time before the
nc ey that is due them is paid.
1t is feared that there is a disposition
to apply the same rules TO the disburse-
ment of District funds followed at
the United States treasury. and that IT
will come to pass that as much time will
be required to collect a bill against the
District government as one against the
general government.
1t is thought that there is not as much
reason for the precautions which result in
holding up payments in doing the compar-
atiyely small business of the District as In
the larger and more complicated financial
transactions Of the general government
AT any rate, a stoppage in the usual cir
culation of money at any one point is felt
throughout the entire business community.
for in this particular as in other details of
community life the familiar figure OF the
effect of tumbling over a brick In row
applies with accuracy.
Trading extremely sluggish today on
the stock exchange. and while this was due
in a great measure to the lack of orders,
either to buy or to sell, yet I'm some in
stances when there was manifest desire
to bid up the quotation. broker
| pressed it. one was afraid and the other
darsent.
The largest sale recorded was in the bonds
of the Washington Railway Company when
$1,000 was bought up rapidly offered
in 81 600 bond lots each. at the uniform
price of 72ls. The entire block sold by
one broker and bought by one broker. and
the. selling was only stopped because the
supply for sale in hand by that particular
broker became exhausted. The bidding
continued a that price and advanced to
t21s without bringing out any more bonds.
There was nothing done in the preferred
stock of the Washington Railway Co, al
though slight advance was made in the
hid price. None We're offered at less than
3J12
Two small lots of Metropolitan Bank
stock were offered for sale A bid of 1901,
for one share secured it, and three shares
brought $50. The same price was bid for
ten shares but none were offered.
Twenty shares of Peoples Gas stock
were offered for sale at 64s but the best
bid was 81. which was not accepted
There was nothing done i'm gas stock to
speak of: but two small lots being sold.
The stock was offered at first at 50 and
gradually the figures lowered until .Isa.
was reached; % was bid. but there was no
great anxiety. to get any nearer, and no
further sales We're made.
There was some fencing done when Mer-
genthaler was reached, and, while the bid
ding went as high 1854. the stock was
offered at 1S4, with no apparent disposition
to deal. The few sales recorded were made
by the same broker who made the bid
There was not much interest shown in
Lanston. and 4 bid of s. with an Offering of
S%. closed the record for the day in that
stock, except the sale of two fractional lots.