Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-11-21
LOCAL FINANCIAL NEWS


operation of the new electric railroad be-
tween the .Aqueduet bridge and Great Falls
viii be begun. 1t may be possible that the
road right up to the banks of the Potomac at
the falls viii not be completed at that date.
as small section at the upper end Is be-
hind the rest of the line. owing to delays
In getting possession Of the right of way.
Practically the entire road will be finished.
and with a current supplied from the new
power house which has been erected on the
virginia side of the AQueduct bridge II VIII
be ready to handle all business that may
Offer
1t is said that the road is one of the most
expensive pieces of street railroad construc-
ton In this locality and while 1t is not ex-
pected by outsiders. whatever may he the
expectations of the promoters of the enter
prise, that this road will make great re-
turn in the way of profits. still II is thought
that the prospects will be improved II Con-
gress will grant the charter for the cross
town line which was before that body at
the last session and which is intended to be
city connection of the suburban portion OF
the system.
There is nothing to indicate that the infiu-
ences opposed to granting this privilege
have lessened since the bill was up before.
and with the efforts OF the advocates OF this
measure and the need of legislation to en-
able the city street railroads to reach the
union depot the prospect is that street rail- rail
ways will be more or less In evidence dur
Ing the coming session of Congress.
A permanent organization of the Associa-
ton of Washington Bond Brokers has been
effected by the election OF the following Of
ficers: w. E. Lewis manager Washington
Office of VIM. A Read Co.. president
Chris Cox Dawson manager Washington Of
flee of arson. Leach & Co.. vice president;
Harry G. Montgomery, manager Washing
ton office of Plympton, Gardiner & Co, sec
rotary and treasurer.
The object of the organization is to broad
en- in Washington
bringing here and offering to the banks.
trust companies and ether financial ana
savings institutions, as well as to individual
investors, standard railroad and municipal
bonds.
Mr.. Lewis ]. Davis who recently under
went quite severe operation, was down.
town today for short time and was
warmly welcomed by his former friends,
who were glad to see him around again.
At the meeting of the stock exchange to-
day the main features were the changes
made in the bank stock list the other sec
lions of the list being passed over with
little or no trading. There was not much
business done even in the bank list, but 1T
was significant of the interest now mani
tested in the securities In this class that
more changes were made in the figures than
was the case with any other class of secu-
rites listed on the local exchange.
One lot Of ten shares of the American
Bank sold for 1s9sl, which was the only
transaction made In these stocks. The bid
for Lincoln rose from 1874, which was the
closing bid of yesterday, to 1877. and the
broker who made it said that he would do a
little better If any of the stock was for
sale. but none was offered.
Through inadvertence in this column
yesterday the name Lincoln was substl-
tuted for Traders in the mention Of the sale
OF eight shares after call.
Although nothing was done In these
stocks. yet 1t Is likely they will continue
to occupy the center Of the stage for some
time yet, as 1t Is the opinion of well-tn-
formed men that the plans In regard TO
these organizations have not as yet all
been carried out although those that have
already been announced as having been
done or in course OF being done are SUI
ficient In consequence to make this year
one of the most notable In the development
Still it Is maintained that the process OF
expansion Is not yet complete.
Exactly what more Is to be done Is not
stated, but one theory is that further con-
nections with out-of-town institutions are
contemplated.
Mr.. K James E. Fitch, who still retains
an active interest in the American Security
and Trust Company, as well as in other
affairs withJwhioh he was connected during
his long residence in this city. was in the
city yesterday and today making his usual
monthly visit.
During the past few days Mr.. w. A. Hun
gerford has been placing in this city the
per cent preferred stock Of the H. ]. Hinged
Shoe vamp Company OF Boston. ana states
that he has met with good, success. He
intends to place the remainder of the total
issue of $50, COO OF this stock in Philadel~
phia, st. Louis and Boston.