Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-08-12
HEARD ON CHANGE

The weeks business on change was not
one calculated to set anything on fire. and
yet, considering the absentees and weather
conditions. it Is surprising that the market
maintained its status, which indicated any
thing but lack OF interest. Somees0f the
stocks on the list went OH slightly and
others showed an unexpected advance.
With several of the NEST active bankers
and brokers cut of town and the weather
colored with non-relisious tfnts. q slump
might have been expected anc that the lists
did not sag more emphatically Is perhaps
a subject OF cengratuIation. The chief In
terest of tha week in one lay of the wind
had to do with railroad stock which took
a sudden upward turn and then went on
into decline without any apparent reason.
With the public taking but little hand In
the game-on the sufface-tha up or GOWN
trend of this local stock Is not TO ne ac-
counted for by any but those in the know.
The deals in the stock in question had no
side issue. They were between prominent
official of the company and an equahy
prominent broker. The. transactions In the
security were Of a character that aroused
no little curiosity and interest.
The raids on the Gotham bucket shops
attracted no little attention In this city.
Nothing is SO damning to the Drokeraee
business as a general proposition IMAM 10
have these Institutions of the bucket Dri-
gade" around. They frighten the pubic VINO
deal in legitimate speculation OH by theif
methods and in other ways seriously inter
fere with the professions of broker DONG
business OH business, principles. 1t Is sur
pfising that There are any suckers left to
support the. bucket shop anywhere In the
New York neck of the woods. Their meth
DDS have time and time again been exposed,
but there seems to be always some one
ready to bite.
The echoes Of the Panama canal bond
issue seem to leave the impression that.
with the exception of the provisions for
some minor details, the issue WAS q very
successful one generally and especially so
with the people. Some of the financial per-
sons are complaining because OF the hi&n
rates that are usually the rule with TINS
class of bonds. AS one sheet Is frank
enough to state they will get 1t back with
stiA higher rates Of interest. which will be
paid by manufacturers and traders, by farm-
ers aud retail dealers. and will ultimate
higher prices charged to the great mass OF
consumers" 1t Is refreshing to reno TINS
statement after some publications In reia-
ton to the bonds.
ALI the talk about tight money contingent
upon demands to move the crops seems 70
have been dispelled as phantom snip ols,
appears on a spectral sea, by the puplisned
stat InaC d great huIupSi VI onAA' -
the vest will be able to take care of the
crop situation without calling on the east
ern banking institutions at all. In one re-
spect this announcement OF the western
banks Is more than amusing and recalls the
old fable Of Aesop OF the old man and the
mule. The east has been following the sug-
gestions of the west on the money question
in relation to the crop conditions ZOE many
years-and in the end usually carrying the
mule. This Ii but another instance. FOR
weeks bankers have been crying uent
money In the east. and now It turns out
that it is quite probable that the western
INSTITUTIONS will BE- able to take care OF the
situation.
The 2sh price Of Greene Copper worried
the shorts, and they had rather nasty
caii at that price A iifeless Mitchell and
timber Gas were some Of the features OF
the market. OF the bank stocks the interest,"
centered in Second National, which sold up
to lgo There were several sales OF other
bank securities.