Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-08-10
LOCAL FINANCIAL NEWS.

The bankers in what is known as the up
town section were much interested today II
rumor that was going the rounds to this
effect that an important change was con
templated In the plans of the organizers OF
the new national bank.
This was nothing less than the location
of the new bank in the midst of the other
institutions In the uptown section instead
OF selecting place on 1th street in the vi
cfnity of + street, as at first proposed
1t Is understood that an effort is being
made to buy site in that locality. and y
that Is successful then the new bank viii
open for business in the neighborhood o1
18th and F streets. 1t is recognized thai
this move means keener competition for
business than now exists, and 1t is on this
account that the talked-of change excftes
SO much interest.
The volume of business. according to the
statements of those connected with fnan-
bly, large for this time of the year, and
there Is even heard some complaint that
there Is not enough money to meet the de-
mand.
The general condition among the bankers
is that they are well loaned up to their
limit and that they have use for all the
money available for such a purpose.
1t is the opinion of some that business on
the stock exchange would be better II
money was more plentiful. At any rate,
the conditions as above outlined will be
recognized as somewhat unusual to be re-
ported Of this market in midsummer.
The preferred stock of the Washington
Railway and Electric Company sold Al the
meeting today of the stock exchange from
93A to 921n. and there were still one hum
bred shares offered at the latter figure by
the broker who had been the seller. After
call sixty shares were sold at 92R Frac-
tional as well as quotation lots were in
cluded in the selling, which aggregated five
hundred and sixty shares.
At the close the 81 u stock was withdrawn
and that was the bid and 93a was asked.
The common stock sold on a range of 39H
to 80. and the closing bid was 30, and S91s
was asked.
Twenty shares OF Capital Traction stock
sold for 1457s. and there was more to be
mad at the same price and as there was
no sale the asking price was reduced an
eighth. but the bid did not advance beyond
145S.
Gas stock was not offered at any time
less than G5l4. and when twenty-five shares
were taken at that price there was no more
to be had less than 63k. Even that was
withdrawn, and also a further offering an
eighth higher. AT the close "a was the
asking price and 63k was bid, which was
the highest point reached throughout the
trading. ,.= go.
The demand for the stock, which has
been noticeable feature for several days
past, was still In evidence, as shown by the
better bidding. Yesterday the closing bid
was 62h. while today 1t was 63A
The same bid was made for 100 shares as
for twenty-five, and at the time such lot
was wanted 1t WAS offered at 63k.
Eight thousand seven hundred dollars in
the bonds of the Norfolk and Washington
Steamboat Company were offered for sale.
and the broker who had them bid 100 ard
then offered to buy or sell at that figure.
They were taken at that price.
Gas certificates seemed to share In the
Improvement in the price for the stock, as
the bid was 120 and the asking price 121.
Yesterday 1881 was bid and 1907 was
asked There was no trading.