Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-03-20
LOCAL FINANCIAL NEWS.

today 1t seemed likely that a new low
record would be made, and 1t looked as IL
the figures might be put below 90. There
was stock for sale. not In large quantities.
but stifi enough to make q break IL there
had been no support. and at one time there
was an appearance that there would be no
assistance given 1t and that It was headed
for a notch below what had been the final
word In that security for some time past.
However. this happening was avoided by
the action of broker who bought two
hundred-share lots at that price. and then
another broker was led to bid that for a
similar lot and also for the quotation lot OF
twenty-five shares.
The closing bid was on that level. and
while there was stock to be had at quarter
advance there was no effort to get any
more. and, in fact, the market that deSet-
oped seemed to be rather unexpected. ex-
cept. of course. to the broker who was the
buyer. as he probably does nothing that
can be put In such a class. at least, that
Is not his general reputation.
The entire volume OF the trading In gas
stock amounted to AS shares, three or the.
quotation lots bringing an eighth more
These figures do not represent extensive
trading in security that at one time ana
another is prime favorite with most or
the dealers in local securities.
For some reason there has been no move
ment Of consequence in gas stock for some
time, except perhaps some fluctuations,
which have neither lasted very long or
amounted to much. There is no suggestion
that anything of the sort is booked for the
near future, although the buying today
might be looked upon by some as possibly
having significance
The other features Of the trading OF
dull day on the exchange were neither nu
merous nor important An advance was
do 80 IL Nt-~k- t. HI for
the stock of the Metropolitan Bank. but
that did not result in efcitfng anything.
not even an offering OF the stock at any
price.
The advance only brought the bid up to
1884, which, compared with the figures
recorded for this stock four or five months
ago, seems rather low. At that time the
bid price was at least ten points ahead OF
the present bid. AS the dividend yields
per cent on 400, 1t is thought by some that
better figures are due to be recorded In
connection with this stock than now
to be found.
Perhaps following the course pursued In
the case of other financial institutions. as
the new banking house nears completion
the stock may begin to go up on the gen
eral theory that seems to be accepted IN
such cases that a more attractive building
means an Increase in the amount OF the
business of the institution.
The only dealing In the stock of the Ugion
Trust Company was the sale of couple OF
shares at 1877, which Is about the height
of the recent rise which accompanied the
purchase by the company OF a new location
for its offices. n
The bid at the close was point less than
the sale level and the asking price two
points above.
Among the measures which were consid-
cred by the committee on bank legislation
fthe American Bankers Association dur
ing their recent session in this city was the
enlargement Of the scope of the national
banks to some extent. The committee sug-
gested for the consideration Of the members
of the finance committee In the Senate and
the banking and currency committee in the
House the advisability of permitting ma
tional banks under special provisions to
qualify by making a deposit of securities
as is now the law in several different states
permitting them to act in trust capacity for
the purpose of meeting the competition of
trust companies In certain localities
The president OF the association, Mr. John
l.. Hamilton. is a member of the committee.
and the representative of this city in that
body is Mr.. w V. Cox.
Today's Government Receipts.
National bank notes received today for
redemption. s1.02S.44 government receipts