Evening star. [volume] (Washington, D.C.) 1854-1972, 1904-08-01

nave caused general advance In prices.
iong-term bonds yielding from to ~ per
ceet having been In special demand. The
outlook continues satisfactory, with money
plentiful and cheap. The latest reports Of
national banks. submitted to the controller
OF the currency on June D last. showed a
strong condition.
The outlook for the crops is promising.
Inere undoubtedly viii be decreases IN tho
production of certain cereals as against
ofiSihai estimates, but there Is ample assur
a az, that the total value OF the crops and
the tonnage to be derived therefrom win be
largely IN excess of last year.
Rates Tor call money ranged from three
Quarters of per cent to IL per cent during
est rate for money quoted this year Time
money may be had for periods ranging from
sixty days to eight months at from TO "A
per cent.
The Masonic Hall Association has placed
on record a deed OF trust. with the Wash
ington Loan & Trust Company as trustee.
to secure the new issue of bonds. amount
ing to sSO.OO in per cents. The old per
cent issue Is being exchanged by the CO.
lumbia National Bank for these new bonds.
As the amount OF the old bonds Is $SSOD.
the difference between the total OF the two
issues Is being met by a cash payment, so
that as a result Of the refunding process
the bonded Indebtedness has been decreased
by 5000 and the rate Of interest reduced
A circular has been issued by Brown
Bros. & Co. announcing the purchase by
them and their associates OF H.JO.OU Of
the ) per cent bonds Just issued by the Po
tomac Electric Power Company of this
city. secured by first mortgage on the
plant and franchises OF the company. which
include those OF the United States Electric
Lighting Company. The purchasers OF the
bonds are represented in this city by Lewis
Johnson Co. who offer the bonds at par
and accrued interest.
The total amount of bonds authorized Is
81 NO(nD of which ASO IA n
retire Sa0eO debenture bonds and $5J0.O0
certificates OF indebtedness OF the L. \.
Electric Lighting Company. all Of which
mature May 1. 1907 Including the bonds
now placed on the market. amounting to
Sl.JO.Uo. balance Is left of 81. SDOD.
which Is reserved for future extensions. i'm
prOvements. &c. under the restriction that
when $3.OO0.0D have been issued the re-
naming 81 .0Oe.OO can only be issued at %
per cent OF the actual cost OF the proposed
extensions and improvements. and under
the further restriction that none Of these
41.O0o.00o) bonds shall be issued prior to
January l. 1907. and that not more than
S00.OOO OF the same shall be issued prior
to January I. 1908.
An absence Of buying orders was notice
able at today's meeting of the stock ex-
change and the brokers who. for the most
part, had such orders also had selling or
ders. az the dealings IN Washington Rail-
way bonds and In Graphaphone preferred
stock, which constituted the bulk Of the
trading. were done by brokers who repre-
sented at the same time buyers and sellers
An advance was made in the bid for
Capital Traction bonds to 1861 instead Of
106. and the asking price was los. instead OF
y, as was the case at the last meeting
Of the exchange.
One hundred ard twenty-three the bid
price for Capital Traction and 126 as the
asking price were substituted for the last
quotation Of Ia bid and f25 as the Offering
without any effort being made to trade.
The bid for Washington railway bonds
advanced to 7SA. with 7STs the asking
price. The change made in the quotations
for the preferred stock OF the company was
also to a higher level, as 81 was bid and
GIN was asked.
Gas certificates were offered down to 12On,
but the best bid was 100. The stock was
offered at 55I. with 51ls as the best bid.
Fifty shares We're offered the same
terms.
A bid of renewed for Lanston
without result. the lowest asking price
was 9as