Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-04-13
Grain, Provisions and Cotton Markets
LOCAL FINANCIAL NEWS.

A paper is being circulated among the
members of the Washington Stock Ex-
change to secure the approval of plan for
the enlargement of the membership from
forty to fifty. 1t Is proposed, in the event
the constitution is changed so as to permit
this. to sell the ten new seats for
$1,000 each. With this fund as a nucleus
1t is then argued that the exchange will be
in a position to erect building for its own
use.
1t Is stated that thus far the signatures
of some sixteen members have been secured,
but in order to carry out such plan two
thirds of the members present at a regular
ly called meeting must vote to amend the
constitution. The members are not a unit
on this question, and it Is not known
whether it will be possible to secure the
requisite number of votes.
Some members, before giving their con-
sent, would want to know who are pro-
posed as new members in order that they
might determine the important question OF
whether the acceSsions to the ranks would
mean a greater volume of business. On the
other hand there are those who are of the
opinion that new building would involve
an increase in the annual dues, and an i'm
portant matter with them is whether there
would be corresponding increase in their
business. In the event the number of brok-
ers Is added to the point is raised, would
that mean dividing up of the present
members have their own clientage?
1t Is believed by the advocates of the pro-
posed change that an infusion OF new blood
would stimulate and enlarge the business,
and also that a new building would en-
nance the Importance of the organization
and call more general attention to the Sc
curities found on its list. In the event the
exchange does not become Its own landlord,
there will not be lacking those who are
willing to act in that capacity. Attention
has already been called to the accommoda-
lions that can be had in the additional
floors that are being added to the CONNER
cial National Bank building at the north
west corner of 14th and G streets, and also
to those that may be found in the large
building which Is to be built by the Met
ropolitan Citizens National Bank, on 10th
street between F and G streets.
In addition to these, the exchange as
possible tenant figures in the plans which
have been and are under consideration by
at least two New York brokerage houses to
erect in this city buildings which will be
the home Of the offices they have opened
in this city.
The great bulk of the trading at today's
meeting of the stock exchange was in the
securities of the Washington Railway and
Electric Company, although more than the
usual amount of transactions were re-
corded in the securities of the gas COM
pany.
The per cent certificates of the latter
company, known as series A, were for
sale, which is quite uncommon, and the
prices paid ranged from 1885 to 114A. One
hundred shares of the stock were also sold
in range from $685. to 66B.
The main dealing, however, was in the
Washington Railway and Electric Com
pany securities. beginning with the bonds
which sold to the extent of some $50, 600
from S93s to $685. The bulk of the bonds
brought S91a, and it looked at one time as
If the free buying would exhaust the sup
ply at that level. That did not prove to
be the case, and at the close they were
still to be had at S91a, with S9ss bid
The preferred stock went for better
prices than was the case yesterday, as the
selling, with the exception of fractional
lots, was at "a and 941s and at the close
these were the asking and selling prices.
The dealing in the common stock was on
a larger scale than has been the case for
some days past. The great proportion of
the sales was at 36, one broker alone dis
posing of over 600 shares in various lots.
There was quite free buying of options at
363s and the sellers of the latter were the
buyers of the stock at 80.
At the close the bid was SO and 36h was
asked. which were the quotations of yester-
day.
Twenty shares of Capital Traction Com
panys stock sold for 1441a and one hundred
shares were offered on the same level, and
then at 1441s, but without result. An OPP
ton was offered on such a lot at 144$ For
twenty shares the bid at the close was
144A, and 1+5 was asked