Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-05-05
LOCAL FINANCIAL NEWS.

A notice was received today by Mr.. Will
lam A. Mearns. the secretary of the Bank
ers' Association of the District, from the
American Bankers Association, announc-
ing the acceptance of the invitation from
the local body to hold the next annual meet
ing in this city. The date will be some
time in the latter part Of October. 1t is
expected that there will be about 5000 dele
gates in attendance. representing the bank
ing institutions in all parts of the country.
The local association will be the hosts on
that occasion. and will prepare program
of entertainment that will include a ban
quet to the executive council. reception
to the delegates and the ladies accompany
ing them. an excursion to Mount Vernon.
etc. The headquarters will be at the New
Willard
A Washington financier who has just re-
..i from New York Is OF the opinion
that the present unsettled condition Of the
market is largely due to the antagonisms
that have grown up out of the Equitable
controversy. The men prominent in t1nan-
clal AFFAIRS have taken one side or the other,
with the result that there is a good deal of
bitterness Of feeling which mars the har-
mony that generally prevails and which Is
necessary IN order to secure tranquil state
OF affairs in the money market.
The value of the rights to the new Mer-
genthaler stock was determined at to-
days meeting of the stock exchange, as far
as that is possible. by single transaction.
Fen dollars share for the rights on 100
shares was bid and was accepted. This
is on basis Of a market value of 200 for
the stock.
The same purchaser offered to give 100
for the stock ex-rights. The trading in
the stock aggregated 1913 shares, and the
range of prices was 203h to 2015s AT the
close 2O1h was bid. and 2O1% asked.
OF the entire sales, forty-five shares sold
below 202 and the remainder from 2031s
down to 202.
Better prices were paid for gas stock
than was the case yesterday, when the
highest price was COY. The total sales yes
terday were lis shares, while today the
aggregate reached 23O.
There was no trading until the stock was
offered at 81. when six share
lots were taken on that level. Some thirty
shares in broken lots sold from 81 to 61s.
and then two twenty five-share lots went
for GIN. At the close the bid was 61S and
the asking price 81 ".
During the trading bid of 81 was made
for 100 shares, but lot of that size was
not offered
Interest in the preferred stock of the
Washington Railway and Electric Company
seemed to he mainly in dickering for frac-
tional lots. but there was not much done,
as only thirty-four shares We're sold on a
range from 90 to $685. A couple of fifty
share lots went for 49, and one such lot for
92B. A one-hundred-share lot was sold for
92A. At the close the bid was 925s and the
asking price 927s.
Only six shares of the common stock were
dealt in. A bid of 351s was made for OPP
tions, and an option was offered at 49, AN
offer was made to buy or sell at 35h, which
was not accepted The bid rose to 30. At
the close the stock was to be had at 35h
and 34A was bid.
The bid for the National Safe Deposit
stock ran up to 1873. but did not elicit any
response and was quickly withdrawn. At
that time the stock was for sale at 100 and
later was offered at 1897 The latter was
withdrawn and twenty-five shares were Of
fered at 100. The final bid was 1S7 and the
asking price 100.
A bid of 75s was made for 100 shares of
National Union Fire Insurance Company
stock with the statement that a little more
would be given If there was any stock for
SALE No offering was made. There was
no change made in the bid and at the end
the stock was offered at S1a
A bid of 143 secured ten shares of Cap
ital Traction stock. The bid for twenty
shares was 1421a and the lowest offering
was 1881.