Evening star. [volume] (Washington, D.C.) 1854-1972, 1904-09-23

to the fact that the United States bonds are
mainly used as the basis of banking circu-
lation and as security for government de-
posits. OF the net public debt OF S925.O0O00
over $4190o00ee is employed to secure note
circulation and Sill. 7790D0 Is employed to
secure government deposits in the banks.
making total of over $3.50. 900. Nearly
300 oe00O0 of the bonds thus held are per
cents. The United States bonds therefore
| Tor the most part are held. not for invest
ment. but for the purpose of guaranteeing
CT edits
1t is stated by corporation attorneys that
there is no activity in the matter OF or
ganizing new Industrial companies prac-
tcaliy all the proposed consultations have
either been abandoned entirely or sheived.
1t is believed that very little In the way OF
further mergers can be done until the I'M
digested securities of this class out of
the way.
The bidding for Washington Railway
bonds at today's meeting of the stock ex-
change gave further emphasis to the fact
that there are no more bonds on the mar
ket at s3te. This Did was repeated. The
asking price was SN.
An advance was made In the bid for An
acostia and Potomac bonds to lo2A, but
there were none offered for sale. In fact,
the market here is rather bare of these
securities. In Baltimore where they are
mainly held. there has been for the past
few weeks considerable activity in these
OOnQS, anu Prices nave advanced SO tnat
in the Baltimore exchange they are selling
for 103
As is we'll known, all but $780, 900 Of the
three millions Of the authorized issue of
those per cent bonds have been issued.
Recently. however, further Issue of
1888 eco was made to provide the funds for
the 18th street extension, the changes made
necessary at the new Anacostia bridge and
for the purchase of new cars. Since that
time. however. the market price of the Sc
curities has advanced. 600.
Some gas certificates were wanted and
bid OF 119A for 81. 800 secured the lot. After
this purchase and those of a couple of
fractional lots the bid receded to 1191k.
with 100 the asking price.
An advance was also made in the bid for
telephone bonds. but without result. The
bid was 1O4& but no bonds were for sale
at less than 104l2. The strength of these .
per cent securities has been gaining for
some weeks past, and the renewed interest
shown in them Is attributed largely to the
growth of the business of the company. 1t
is thought that the local company, as is re-
ported of the Bell telephone companies gem
orally, has increased the output of tele-
phones. and that its prospects have i'm
proved.
share of Riggs Bank stock was offered
for sale. and the bidding started in at $50
and with the competition of three brokers
advanced point a bid to $50. Here
the bidding ceased, and no further effort
was made to come up 10 the lever OF Op,
ex-dividend. which was the asking price.
The bid for ten shares was $50. and the
asking price 625.
An offer was made to buy or sell ten
shares of Metropolitan Bank stock at 40.
There was no response and the offer was
Withdrawn. The bid for ten shares was
1926 but no offering was made.
Seventy-ive shares of Potomac Fire In
surance stock was bought at "a, and the bid
was renewed on the same level, but there
was no more for sale
The bid for 100 shares of Gas stock went
to SIS, but the best offering of such a lot
was 80. The bid for twenty-five shares was
57a, and one lot went at that price. The
asking price was 57A.