Evening star., 1905-10-12
LOCAL FINANCIAL NEWS.

1t Is uOuGTSICOQ tIdt tnS oUiCldtS VI tUc
Washington Railway and Electric Company
are giving serious attention to the problem
of making provision for the growing de-
mand which is made upon their power
plant. 1t is estimated that in spite of the
enlargement of the facilities which has re-
Gently been made, and which included the
instailment of a second steam turbine, the
demand will be up to the capacity in the
course of the next year SO.
In addition to the main plant, at 18th and
u streets, the power station at the foot Of
4H street and the Potomac plant in George
town are In use, and the one at 14th and H
streets northeast is held In reserve. The
increase in the use Of the current for elec-
trio lighting and the annual growth Of the
traffic on the street railroad system Is of
such character as to make 1t advisable to
provide new central plant which will have
capacity enough to supply all the power
that is needed for present and future uses
1t Is stated that plans are now under con-
slderat1on for the erection of such a plant
In the immediate vicinity of the city and
at some place where water and coal can
be procured at the lowest rate. The financ-
ing of such a project 1t is thought will be
either accomplished through the use of the
bonds of the power company now in the
treasury or perhaps 1t may be decided to
make use in whole or in part of the ac-
cumulated earnings of the parent COM
pany.
The correspondents Of the American Ma
tendance upon the meetings of the bank
ers' convention and other friends were en-
tertained at buffet luncheon today at the
bank building.
At the meeting of the stock exchange to-
day the preferred stock of the Washington
Railway and Electric Company was for sale
at 93, but only one 50-share lot and 25-
share lot was sold. For most of the time
the bid was at 92A and toward the close
it advanced an eighth, but then was with
drawn.
The principal trading was in the common
stock, as the sales aggregated some 1.6OO
shares. The range Of prices was from 43
to 42as. At the close the stock was for sale
at 421a, and the bid was one-eighth of
point less. but the asking price was with
drawn and 1926 was substituted No change
was made In the bid, which was the same
as at the close OF yesterdays trading. The
asking price yesterday was. however, 43.
AS the result of the trading of the day
the stock lost about half a point as COM
pared with the figures of yesterday. after
a rather large holding for one days market
had been absorbed
Another rather spectacular advance in the
bid for the stock of the American Security
and Trust Company was made, and while
2S5 was bid. which is ten points ahead of
yesterdays bid. yet none of the stock was
brought out Some concessions were made
III tiie asking price, as the STOCK was to be
had at 291 instead of 295, yesterdays ask
ing price.
There is a good deal of gossip still going
on as to the cause for this apparent anx-
iety to get hold of this security and thus
far nothing very definite has come out. The
general belief has not changed that the
movement has been brought about largely
by the efforts of the large stockholders to
enlarge their holdings, with what object it
Is not known.
An unusual amount of the stock of the
Union Trust Company changed hands to-
day, the total running up to one hundred
shares. which sold on a range of LA to
1882. AT the close there was stock to be
had at IA, and the bid was only an eighth
less.
Central National Bank. He bid 1t up a
couple of points above the closing bid of
yesterday and then he secured ten shares
at 325. Then he got ten more by an ad-
vance in his bid of a quarter of point, and
then by jump of point he gathered In
ten more.
There was no more to be had at those
figures. and he. therefore, was able to ad-
vance his bid to 334. The lowest Offering
that was made was $50.
The same broker apparently wanted
some Of the Second Bank stock, and so
he rapidly ran up the bid from the usual
range of 160 to 1891, but without result
as the best Offering was 1898.
Gas stock appeared to be abundant at
81, and also at little less. When the bid
was a sale. Altogether some 100 shares
were traded in. mostly seven-eighths
stock At the close the bid had shaded off
to 60%, and 81 was asked.