Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-01-03

LOCAL FINANCIAL NEWS

an reviewing the condition of the market
Fisk & Robinson in a recent circular say.
The year 1904 has shown remarkable
recovery in prices of all securities and the
market for railroad bonds has shared fully
IN the rise. The advance though occas sion
ally interrupted, has been almost steadily
progressive and January. 1905. finds an
active demand at the higher prices. with
prospects of further enhancement in val
ues The total transactions IN railroad and
miscellaneous bonds on the New York
stock exchange in the year 1904 were about
Sl,ol3.oOo,o0O par value. as compared with
S6So.0o0,00 par value In 1gns 1t is impos-
sibie to estimate with any degree of accu-
racy the total of the large amount placed
py banking houses direct with investors.
both In this country and abroad but il is
safe to assume that this amount has been
lar IN excess OF that of the previous year.
Money has been in liberal supply
throughout the year. reserves of the New
YORK banks ruling at high figure in spite
of gold exports, which at times have been
heavy, amounting in the period from April
Z to May % to over $Go.oOoo 1. The call
rate for money in the first week of Janu-
airy. 1904. touched per cent. but since then
has seldom risen as high as per cent, the
ruling rate for the greater portion of the
year being about per cent, with loans al
times as low as y to q of per cent.
The approach of the year 1908 is viewed
in the financial community with feeling
of confidence. Crops of cotton and of most
cereals have been abundant. There has
been decided revival in general business
and manufacturing especially in the iron
and steel trade; railroad earnings are IN
creasing, and Legitimate enterprise is now
finding encoura cement from capital to "A
greater extent than since 1901. 1t is sig
nificant that a recent temporary disturb
ance in the stock market had no influence
upon the prices of investment bonds and
caused scarcely any decrease In the ue-
mand.'
The stockholders of the Firemen's Insur-
ance Company yesterday elected directors
as follows: A. A. Wilson. s. S. Lutz. W.
j. Wilson. NJ. ]. Adler, George w. Moss
f.. G. Davis. Frank Hume. H. c. Nc
Cauley, r. A. Castelar,. F. c. Ainsworth.
Edward Derrick John Quinn and Edwin
d. Jones.
A demand for securities on the bond LIST
at today's meeting of the stock exchange
resulted in an advance in the quotations in
some instances. There was no trading,
with the exception of that in the Washing
ton Railway and Electric bonds and In Gas
certificates.
An advance was made of a quarter OF
point in the bid for Capital Traction bonds
The bid was 10Il4 and the asking price ln'-
A similar advance was made in the case
Of Metropolitan Railway IS; l1s14 was the
bid and 119 the asking price.
A bid of 1o2 was made for the Metro
politan railway certificates series A. in
stead of 1011a. which was the last quota
ton.
Washington railway bonds were in good
demand and sales were made from SsA to
&c. At the end of the call the bonds were
offered at S55s and the bid was S3ls.
After call the trading was resumed, ana
the buying was persistent enough not TO be
shut off entirely by the rising prices The
last sale was at Sc
After some 81 800 in Gas certificates had
been sold in two lots at 1919 and 121A tho
demand appeared to be exhausted. The
subsequent offerings were at 121ls, but the
best bid was 121A.
The disposition to trade in Capital Trac-
ton stock was not strong enough to over
come the slight difference that existed be-
tween the asking and the bid prices. One
lot of twenty shares was offered at 1927.
which was Saturdays bid price.
1t was sold on that level The stock was
again offered at that figure, but the best
bid was 142A After call quotation lot
of twenty shares went for 142A- AT the
close of the call the bid was 142s and the
asking price IA.
None of the preferred stock of the Wash
ington Railway and Electric Company was
offered for sale. The bid was S2h. The
common stock was offered at ISIS, and the
highest bid was 2I1a.
There was no trading in the stocks of the
trust companies except the purchase of ten
shares in two five-share lots for JIG of the
Union Trust and Storage Company stock.
The closing bid was 116. and the asking
price 100.
The best bid for American Security and
Trust Company stock was 2351a, and the
lowest asking price was 235$4. The bid for
National Safe Deposit Company was 1851.
while 1864 was asked.
Four shares of Bank of Washington stock
were offered for sale for 500. The best bid
was 491. Ten shares were offered for so,
and 400 was bid.
A better bid was made for Second Ma
ticral Bank stock, as 156 was bid and 1873:
was asked
Ten shares of Commercial Bank stock
were sold for 1907. The bid was then on
that level, but the lowest asking price was
16Oas which was withdrawn and lG0h sub
stituted.
Six hundred dollars was bid for Riggs
Bank stock. with the statement that a little
more would be given. The lowest offering
was 200.
Gas stock sold at 64M and 64k. After
the sales of four twenty-five-share lots at
these prices the bid was 64A and the ask
ing price 64&.
There was some trading in Lanston, and
by the purchase of two 1O0-share lots the
stock that was for sale at 12k was taken.
Subsequent sales were on a higher level
and at the close 12S was bid and ID asked.
Three hundred shares of Graphophone
common were for sale at 5A and were dis
posed of at that figure.
After sales of Greene Copper r 26 to 26k,
the bid was 26h and the asking price 26H.
AR ofiar was made to buy or sell Norfolk
ana /" shington Steamboat stock at PAS,
which ,,as not taken. The bid for ten
shares was 240 and the asking price 245.
After call one of the brokers said that
several seats were wanted on the stock ex-
change and he bid $1,000 for seat. He ad-
vanced his bid to $500. but there was no
offering at any price.
Today's Government Receipts.
National bank notes received today for
redemption. $l.073.6s5: government receipts
from internal revenue. $1.207. 1853; customs.
ss91. All; miscellaneous. $257. 407: expendi-
lures. s1150.00O available cash on hand.
SAG, 592. 6s9.25.
Court of Appeals.
Present: Associate Justices Morris and
Shepard,
Meissner: petition for rehearing overruled
No 1471-Richardson agt Daggett; mo-
t;or for rahearinE oyerruied.