Evening star. [volume] (Washington, D.C.) 1854-1972, 1904-10-03
LOCAL FINANCIAL NEWS.

THE fear of sharp advance in the
money rate incidental to the demand for
funds from the west and south usual at
this season." Fisk & Robinson state In
their monthly bulletin. "has led to some
degree of caution in the investment mar
ket during September but as the rate for
call loans from the first of the month to
the time of going to press has not exceeded
per cent and Is now quoted at ~ to
per cent. investors apparently have con-
cluded that the rates for money are not
likely to affect prices adversely and the
demand for good railroad bonds is conse-
quently increasing.
THE large reserve. the weakness of for
eign exchange. indicating imports Of gold
In case of need, and the provision made
by borrowers for time loans running over
the first of the year give assurance. we
believe, of easy money rates during the
autumn and winter Time money rates
are quoted. as we go to press. at per
cent for sixty day loans. 81 to 3ik per cent
for ninety days and So to per cent for
four to six months
There was some interest manifested in
the list of bank stocks at today's meeting
OF the stock exchange. A great part of this
was no doubt due to the attention which
mas been directed to these institutions dur
ing lle past rev weeks. owing to the
change in the control of three of them
Saturday last the agreement to consolidate
the Citizens and Metropolitan banks was
signed. and evidently some one had been
nguring on the effect of this deal on the
value of the bank stock When the CIti-
zens' Bank stock was reached on the call
the bid ran up from 2601t which was the
best bid on Saturday, to 276 There was no
stock offered for sale at less than 300.
Metropolitan Bank stock was passed by
with merely a perfunctory bid of 40. the
bid on Saturday having been 40.
1t was supposed there was some slight re-
Election of the gossip that was prevalent to-
day In the change in the bid for Central
Bank stock. Instead of recording 200, the
bid which has been repeated day after day
as is the case with securities that are not
very active, an advance was made to 800.
However, there was no stock offered for
SALE
1t was subject of general talk among
the brokers today that an approach had
been made to large holders of the Central
Bank stock with the view of securing a
control of it The representatives of those
who have recently secured the control of
three banks, however, state that they are
through and that they have no further
commissions to execute for their clients.
Those who represent the bank state there Is
no truth i'm the gossip.
Three shares of Bank of Washington
stock was offered for sale at 400. The
best bid for the lot was ASH. The bid for
ten shares was $50 and the asking price
was 500.
The upward tendency of the stock of
the American Security and Trust Company
was more marked today than on Saturday.
as the bid advanced from 210 which was
the bid on Saturday. to 211 without result
The latter was subsequently withdrawn
and 21Ok substituted. The asking
price was 215.
Some fifty shares of Union Trust and
Storage Company stock were sold at prices
| ranging from 1921 to 1905 At the close the
stock was offered at no
The bid for gas certificates advanced 10
119A. but there was none for sale under
100.
A couple of lots of the stock brought
577s, and after the sale the bid was 57X
and the asking price So.
Greene Copper sold at advanced figures.
the prices ranging from 1875 to 1888. Sixty
day options were sold at 20A and 20.
Mr.. Daniel Fraser was saying good
today to his associates in the exchange. as
he sails tomorrow for Europe, where he ex-
poets to spend couple of months. He will
revisit his old home in Scotland