Evening star., 1905-11-04
LOCAL r1NAHcIAL NEWS.

The increase of bank investmsnts In
bonds Is looked upon by financial writer
as leading 10 consequences now little
dreamed of even by bankers. He goes on
to say that a precedent has already been
established for the use OF bonda railroad
and miscellaneous, as well az state and
municipal. as security for government de-
poeits. "A step from this to the use OF
these bonds as basis of bank note circu-
lation.' he adds. would be short and COM
paratively easy. Already there are many
earnest advocates Of = system OF erAerger-
cy circulation. consisting OF the issue of
notes secured by railroad and municipal
bonds. II this was done 1t would be by no
means improbable that the next develop
ment would be the issuing OF notes based
upon the general assets OF the banks. these
notes to be guaranteed by the government.
IF the government starts in to mako de-
posits upon railroad and miscellaneous
bonds. and II 1t should guarantee the bark
notes secured by these bonds. # would
owner OF a large part OF the securities OF
our principal railroad and Industrial cor
poratfons."
There was not much interest taken In
either buying or selling at todays meeting
OF the STOCK exchange, and while there was
no special reason evident still 1t Is a condi-
non that Is not altogether, unusual. although
1t has not been SO common for some time
past as was once the case.
The activity In the market has not been
marked for several days past and one ex-
PLANTATION is that the banks are pretty well
loaned up II their limit that is, in certain
classes OF securities. In this way the lack
OF interest In the railway stocks which
nave been perhaps the most active In the
entire list Is accounted for and 1t Is not SO
surprising that this should be so owing to
the heavy selling that has been going on
and which has mainly found a market in
this city.
There was some trading in the bond list.
and while one block OF the Washington
Railway and Electric Company was taken
at 91A the demand was not equal to the
supply at that price. y ~. - -
Columbia IS sold for 1051s and 105A and
then the bid was 105A.- Gas certificates of
series sold at 105A and the hid was re-
peated for more. either Of that series or
of B.
For Poaomac Electric Light bs the bid
advanced to 100 without bringing any of
them out. After call a sale was made at
1885,
block of twenty shares OF Capital Trac-
ton stock sold for 1451a and that was still
bid but without result. -
The preferred stock of the Washington
Railway and Electric Company was for sale
at 931z. but the bid did not advance beyond
93h. and even that was withdrawn and 9S
substituted
The common stock was offered down to
43E but the bid did not rise above 43.
Quite g. block of the stock of the Union
Trust Company sold for $50. and then the
asking price was Isl. This is the record
price in that security. was also that paid
for two ten-share lots Of Commercial Bank
stock at 1913.
The changes made in the figures I'm the
bank list had a tendency toward higher
values. which seems to be quite character
fstic of these securities at the present time
Gas stock was for sale at 6011 but the
bid did not go beyond 60. For 100 shares
the best bid was 59A After call one lot
of the stock sold for 6OIs.
No change was made IN the figures in the
case of Lanston, and the only feature OF
interest about the attempt made to trade
in this stock was the bid OF 15~ tor 100
shares and also for 500 shares.