Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-10-31
LOCAL F1NANcIAL NEWS.

The buying was very limited at today's
meeting Of the Stock Exchange, and a
lowering in prices did not have much eff
feet In inducing trading. There Is no very
good explanation of this condition except
that it Is one that Is quite general at this
time in the stock market world, and as
there seems to be a common bond con-
Meeting all such centersj the influences In
one are apt to be felt in another.
There Is no lack of money at the dis
posal of the banks. SO 1t is said. but some
of the brokers seem to think that 1t Is
hard to get, although when an inquiry
was made recently on the floor as to the
rate Of interest that would be asked In
the case Of the purchase Of an option on
some of the securities listed on the board
the reply came from a source that IL sup
posed to be authoritative that money
could be had at 5 per cent.
1t Is said that Is now the prevailing rate
here. although some time ago there was
talk Of per cent money. and there were
also understood to be instances where 1t
was more than talk. However, now there
has been a return to the lower rate. It Is
also said that, while the supply IL SUM-
cient the demand is not great. It Is
probable that the period Of waiting which
always sets in just before an election has
begun and that there may not be expected
termined whether the next governor Of
New York Is to be Mr.. Hughes or Mr..
Hearst, and until some similar questions
in other states have been finally deter
mined in the same fashion.
A feature of the trading in the common
and the preferred stocks of the Washing
ton Railway and Electric Company today
was the bid made by q broker, who Is
large dealer in these securities, for
option on large blocks Of both of these
issues.
For the common stock he bid 3sA for
ninety-dly option on 500 shares. and for
the preferred SO for sixty-day option on
500 shares. The announcement was made
dealt in without the semi-annual dividend
Of $3.50 per share after the 10th Of No
vember.
Company was made today for the stock
without the right to subscribe for the pro-
posed new Issue. On that basis the bid
was 140. while yesterday the bid for the
price then was $50 and today 1t was 145
rights.
Capital Traction stock seemed to share
In the general decline in prices, and a bid
of IA secured one lot. The bid then re-
coded a quarter Of point. An inquiry was
made as to what would be given for 100
shares. and the leading dealer in the stock
ever. he did not offer any for less than
1441s, while no change was made in his
bid. After call. however, sales were made
down to 142%.
1t is expected that better prices will be
asked and obtained for this stock in the
coming months. but just how soon such a
movement may be expected to commence
Is not known. but it Is supposed that it
will be about the time some action Is taken
in regard to plan for financing the ex-
tensions that the company has already
made ana those that are to be made as
soon as Congress grants the privileges that
are proposed in the bill that Is to be con-
sidered at the coming session to enable
the cars of the company to reach the new
union station.
1t Is generally supposed. although there
has been no positive announcement, that
there will be new bond issue of sufficient
size to fund the outstanding bonds aggre-
eating about million and provide enough
money to cover the OUTLAWS made by the
company for betterments. AS. the rights
to subscribe for the bonds at par will be
given to the stockholders and as the bonds
will probably go at once to a premium, 1t is
calculated that in this way what will be
In the nature Of an extra dividend will be
realized by the stockholders.