Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-04-19
LOCAL FINANCIAL NEWS.

At a meeting of the committee appoint
ed by the Washington Stock Exchange.
held yesterday afternoon to consider the
subject of increasing the membership, 1t
was decided by a unanimous vote to make
favorable recommendation. This report
was considered at special meeting of the
exchange, which was held after the call to-
day. and was adopted by an Overwhelming
vote One condition of the proposed change
Is that the entire number of the new seats
must be sold before any of the additional
members will be entitled to places on the
floor of the exchange.
The resolution providing the increase of
the membership from forty to fifty was
offered by Mr.. Charles c. Glover, the
chairman, at the meeting of the committee
Associated with him were Mr.. Chas. J. Ben
Mr.. w. A. Mearns, Mr.. Thos. L. Hume and
Mr.. w. B. Hibbs. 1t was decided to sell the
ten new seats for $500 each, the pro
ceeds to be used as fund for providing
a home for the exchange. 1t is under
stood that applications are now on file
for more than one-half of the number OF
new seats at such price as may be liked,
so that there will be no difficulty, 1T Is
thought, in carrying out the proposed
plan.
The erection of a power house for the
Great Falls and Old Dominion Electric
Railway Company has been begun ON prop
erty acquired by the company on the south
side of the Virginia end of the Long bridge
The new building Is to be one-story brick
structure 80 by ITO feet, and the machinery
to be installed will have capacity Of
]. 800 horse power.
The grading of the south seven miles of
the roadbed to Great Falls was finished
some months ago, and the work now in
progress the north seven miles Is to be
completed some time next month. 1t is ex-
pected the entire road will be finished and
in readiness to be operated some time in
August or September of the present year.
Both the preferred and the common stock
of the Washington Railroad and Electric
Company sold at today'S meeting of the
stock exchange on a lower level than was
the case yesterday. The dealings in neither
ran up to very large aggregate especially
when compared with recent records
The aggregate of the trading in the pre-
ferred stock was about 500 shares and in
the common about LOCO shares.
Fractional lots of the preferred stock
brought prices on range from 1875 to 34R
while the sales of quotation lots ran from
93M to $685.. The largest selling was at the
932 point.
Large blocks of stock were to be had at
the latter price. and at the close quota
ton lot of fifty shares were offered at 93as.
and 93A was bid.
The common stock was offered for sale
at the outset at 361k. and the best bid was
So The first sale was at 1854, and then the
stock was to be had at that figure. The
bid was So
Fractional lots were sold on a range from
36A to &c. An option sold al 36A. Sew
eral lots went for 1878. and an eighth
lower and then there were sales at 3512.
The downward movement was easy and
there was practically no effort to stop 1t,
as neither the selling nor the buying was
at all persistent
Large and small blocks were for sale at
355s. and an offer was made either to buy
or sell on that level. At the close the bid
was 351s and the asking price 35ss.
The sales of gas stock comprised only two
twenty fiVe-share lots, and the price of
both was 651a. a lower level than was reach
ed yesterday.