Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-04-26
LOCAL FINANCIAL NEWS.

faulting president of the First National
Bank of Milwaukee, has given rise to a
varied discussion One of the leading
financial papers reaches the conclusion
based on the revelations in this case. that
"the presidents of our banks and insurance
companies ought not to be connected as
directors in affairs with any other business
institutions whatever. Their whole time
and thought ought to be given to the COM
panies of which they are the chief ex-
ecutive.
Certainly no president of bank or in
surance company ought to have any inter-
ests, in the stock market or any share in
syndicates and promotions. This may seem
to be a strict rule, but it Is one which the
experiences of the past shows to be neces-
Sary.'
A difference of nearly three points be-
tween the highest selling point yesterday
of the preferred stock of the Washington
Railway and Electric Company and that
OF today represent the advance made. The
bidding that was done showed that there
was no stock to be had in the range of
prices of yesterday. For some time the bid
ding ran along without any Offering having
been made.
Attention was called to that fact and a
broker said he would sell an option at "a.
This seemed rather high, especially as
the bid had not advanced beyond 9l1s A
bid of 92h was made for an option, and
later on such an option was offered at 9312.
and then the bid for it advanced to 81.
Toward the close of the dealing an option
was sold at 3d. and that was the only one
sold. At that time the stock was offered
at 9i12 and "a was bid.
1t was soon found that there was no
stock for sale at the figures then prevail
ing. The bid advanced from 81 to 93 be-
fore sale was made and then fifty shares
were taken. From that point to e4A
which was the closing sale, the steady
mounting up resulted in the sale of a sim
gle lot at intervals. so that the aggregate
of the trading did not amount to more
than $50 shares, including the option on
100 shares.
The stock was not offered for sale until
after the bid reached 939s, and then there
was some for sale at "a. An offer WAS
made to buy or sell the stock at 93a, and
"a was bid for block of 1000 shares. FL
nally a close was reached in 81 bid and 941a
asked.
The common stock shared the rising mar
ket with the preferred but in spite OF high
er prices bid there was not a single
circumstance After call it was not much
better, as the total sales were confined to
one lot of ten shares at 36k.
The bidding started at SO. an eighth of
point higher than the closing bid of yester-
day. At that price not alone a quotation
lot of fifty shares was wanted. but 1000
shares. AS there was no response the bid
advanced to 361a for similar amounts, and
then 81 bid for 5000 shares. At the
close the bid for a quotation lot did not ad
vance beyond 36, and the asking price was
1864.
Ten shares of Washington Loan and Trust
Company stock sold at 221 and then
it was offered at 22O12. and offer was
made to buy Or sell on that level, but with
out result AT the close the bid was 22ok
and the asking price 221E.
The trading in the stock of the American
Security and Trust Company again
active, but in a fractional way. The bid of
yesterday of go was continued, and there
was stock for sale at first at oil Sales
We're made of quotation lots of ten shares
at 2'o12, and the balance of the seventy-fve
shares that represented the total sales were
taken in broken lots from one share I'D to
five, and on range from 25i to 252
At the close 25215 bid and 252 was
asked
couple of ten-share lots of Union Trust
Company stock sold for 1913 and 1919, and
at the close the bid and asking price were
on that level.
Bank stock at l6S the bid was 10 and the
asking price 1T5.
Three hundred and forty-four was paid
for Metropolitan Citizens Bank stock and
then 34f was bid and 3S5 asked
The bid of American Bank stock adj
EdlIceu IRON 40 10 lii and for Lincoln
from 121 to 1870.
There was some trading done in gas stock
the sales aggregating 165 shares on range
of prices from GAS to g. Yesterday 64h
was bid and 6514 was asked.
Mergenthaler was sparingly dealt in,
some forty shares in all, and the figures ran
from 194 to 1865. Yesterday 1922 was bid
and 1912 was asked.
Although some one thousand shares Of
Lanston We're traded in at 14A and 147s
the ten lots being about equally divided
between the buyers at the above rates, with
a slight majority, however in favor of the