Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-10-20
LOCAL FINANCIAL NEWS.

The testimony of the assistant treasurer
of the Mutual Life Insurance Company be-
fore the investigating committee In New
York city yesterday In regard to the dispo-
sition of the Insurance company's holdings
Of the securities Of the Washington Rail-
way and Electric Company confirms what
has generally been understood In financial
circles in this city. Since the 3Oth Of last
June, according to this evidence. the COM
pany has disposed OF 10000 shares. pre-
sumably about equally divided between the
preferred and the common stock.
1t is understood here that about 10000
shares OF the preferred stock aggregating
IN value at the present market prices about
N2DOV0. were placed in this market The
absorption OF this large amount with as
little disturbance as 1t occasioned Is looked
upon not only as an evidence Of the conf
dence In the stock. but also an indication Of
the broadening character OF the local stock
market.
In addition to the preferred stock q GUAM
tity or the common stock has been traded
IN during the same period. so that when
connection with that Of the preferred the
capacity Of the local market, where the
great bulk of 1t has been sold, Ii evidently
much greater than used to be the case.
Naturally there was a good deal Of in
terest manifested at today's meeting Of the
stock exchange In the course of these Sc
curties The bonds were the first reached
and there was evident at once a better
demand for them and at better prices than
have prevailed All that could be obtained
at 911s were taken and that was the bid
at the close. with the asking price an
eighth in advance.
When the preferred stock was called the
bidding started at 90. but 1T soon mounted
up to ON, which was the best selling price
yesterday. For some time there was no
offering, but finally one was made at 93.
Some concessions were made IN the lat
ter. but the lowest Offering was 92A. and
the best bid was 92as The latter was with
drawn and at the close the bid was WA.
An option was offered at 9314. The only
sale was made after cali, when 921a was
paid for 100 shares.
The range of the selling in the case Of
the common stock was from 427s to AN,
while that Of yesterday was 42N and an.
lower prices than have prevailed. and
the bulk of the trading, which. comprised
one lot Of 500 shares, was at A.
Before the close any part OF lOO shares
shares was Ala and the asking price ~,
Yesterday AN was the closing bid and AN
was asked.
The dealing in gas stock proved to De
quite a feature of the days trading. Com
siderable more of what is looked upon as
cheap stock came out and while the entire
selling aggregated some seven hundred
shares. which included e-hundred-share
lots, a fair proportion went at 80.
Three OBSERVATION-DISCLOSURES lots were traded
In at 59ss and at sos. There was appar-
emily a good supply to be had at 10 ana
fractionaliy lower.
Mergenthaler took a considerable squirt
on selling that reached less than one hum
bred shares. The range of prices was from
1854 to 1913, gain of nearly three points
over the closing bid price of yesterday.
The annual report which was recently
made public is regarded as making fine
showing of the business of the company.
Today's Government Receipts.
National bank notes received today for
redemption. $747, 2n: government receipts
from internal revenue S728, 544: customs