Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-02-13
LOCAL FINANCIAL NEWS.

Since the offer made publicly at recent
meeting of the stock exchange OF 5000
each for two seats on the exchange one of
the members has had chance to part with
his membership at a considerable advance
over this figure, The last sale made sew
eral months ago was for 5000 which is
tne highest price ever paid. Since then the
privileges OF membership are evidently
looked upon worth more money and
while there have been no transactions made
at higher figures. still the fact of the
demand serves to emphasize the growing
Importance of the business done on the
exchange. The past year has been the most
active In the history of the exchange and
the dealings have reached comparatively
large volume in spite of the fact that the
securities listed are In the main confined
to those issued by local concerns. and in
that sense the business of the exchange is
limited in its scope. In recent years. how
ever, 1t has been found necessary in order
10 meet the requirements of any expand
ing business to enlarge the issue of
curitles In the case of a number of local
corporations and to form new organiza-
tons, so that In this way the field OF op-
erations for dealing I'm stocks and bonds
has materially broadened.
The banking resources of this city have
also increased and there is more money
available for collateral loans. and this cir
cumstance. together with the enhancing
values due to the broadening of the bust
ness done here and the encoura ging pros
poets for the future, has attracted capital
to local securities.
AS compared with the cost of seats In
similar organizations in other cities. the
present price for membership in tine Wash
1ngton exchange. which is confined to forty
persons is of interest. During the month
OF December the following were the bid
prices for stock exchange seats: Baltimore,
4,JOO: Chicago. 81, $50; Cincinnati s., 100;
st. Louis. 5000: Pittsburg. 5000; New
York, $4,000 and Boston, $4,000
The demand for Gas stock was again
strong at today's meeting of the stock
exchange, but there was apparently not
much for sale, at least within a point and
half of the closing bid of Saturday. The
best price then paid was 6oL.
Ten shares were offered today at 651s
and were taken. and also two twenty-five
share lots on the same level. After the
sales the bid advanced as high as 66. but
without result. The lowest Offering at
that time was 81.
Both the bid and the asking price was
withdrawn and 65s4 bid either for 100
shares or for twenty-five shares Then
there was no stock for sale under 661a. and
there was no further trading One of the
features Of the trading. which, slight as
1t was in volume, was better than was the
case with any other security on the list
was the demand for large lots and also for
options. For an option on 100 shares 60
was bid, but the best offering was s.
For 100 shares 65& was bid After call
a quotation lot Of twenty-five shares
brought 66.
Mergenthaler sold for 1852. and then
1851 was bid and 1888 was asked There
was no trading on these terms. and both
figures were withdrawn and 1915 bid ana
1858 were substituted.
Options in Lanston were offered at IA.
and one option on 100 shares was sold at
that price. The Offering was continued
The bid for 100 shares was 1884, and the
asking price 1875.
A general lack of orders. or some other
similar reason probably explains the gem
eral listlessness at the meeting of the stock
exchange. The list was gone through in
perfunctory fashion with some few excep-
TONS and the volume of business done was
not large.
A bid of 146 was made for an option on
I 100 shares of Capital Traction stock. and
such an option was to be had for 13S. The
bid for 100 shares was 145k, and for twenty
shares, 1857 The asking price was l4o;s.
In the securities of the Washington Rail
way and Electric Co. there was no trading
except several lots of the bonds, which
brought S72. and SE3s. These prices are
better than have been paid for several days
past. One hundred shares of the common
stock brought 29ia.