Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-11-08
LOCAL FINANCIAL NEWS.

The trading at todays meeting or the
stock exchange was not large. but there
was In nearly every instance close APP
pr0ach OF buyer and seller. The separation
OF the bid and the asking prices In most
cases varied only from half TO an eighth
OF point. and in many instances was con-
fined to an eighth or a quarter of a point.
The change In this respect In the quo;a-
tons on the local board Is quite a marked
one. for at one time there was quite. d.
vergence between the two prices which
made those who dealt outside OF the board
sell at low figure and buy at a high one.
There is too much business done at the
present time on the board to make such
ngures OF any consequences. and the Gus
tom has gone to jotn others which were in
vogue in the days when the market here
was narrow one and there was but little
money TO be had to enable one to deal ex-
tensively on the local board.
The closeness Of the bid and asking prices
10 also seen in the stocks which are the
most active. perhaps more SO than in the
transaction. Only half point separated
the two figures in the case Of the Capital
Traction stock. while an eighth of a point
marked the difference In the common stock
OF the Washington Railway and Electric
Company, as 1t did when the close In the
trading OF the preferred stock came.
There is some gossip in regard to the
recent purchase by the Capital Traction
Company of various pieces of property
in the square in Georgetown where the
power house is located and where shops
are still in use. 1t Is said, however. that
the purpose of securing this property is
not to make any additions to the power
plant at present, for the capacity of the
plant is about double the daily consump-
ton.
The romnany however has offered TO
build cross-town line covering about the
same territory as that proposed In the bill
that was before the last Congress by the
Old Dominion Company. In the event such
authority is given to the company then II
may be necessary to enlarge its plant. and
for that reason 1t was thought best 20
secure the ground for that purpose.
Unlike the Washington Railway and
Electric Company. the plant of the Capital
Traction Company Is only called upon for
power to operate its lines OF street cars. ana
It's main plant, at Georgetown. Is reinforced
by the one at Chevy Chase. With the
other street railroad system. however. the
current for the electric lights used in the
city is secured from its power plants. and
owing to the growth of the business, plans
are now being considered for replac cling the
principal plant, which Is at 18th and b
streets, with an entire new one. which Is TO
be located outside of the city. and in
place where water and coal can be secured
under the best terms.
The bid for the stock Of the Bank of
Washington ran up some ten points to 0O0.
but the offering price was still some eight
points ahead. and nothing was done except
that some of the bidders enjoyed the sem
sation of bidding on a rather high-priced
stock without having 1T cost them any
thing.
The largest trading in any one security
was done in Lanston, with the result that
the price paid stiffened from Is to 15A- OPP
lions were bought at 1917. and altogether
a more cheerful tone was impaired to the
dealing in this stock which has been rather
neglected for some time past