Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-01-08
LOCAL FINANCIAL NEWS.

Capital Traction stock was the main fea-
ture about the trading at the meeting today
of the stock exchange. This arose not only
from the volume OF trading. but from the
fact that peg was put in the toboggan
down which this stock has been sliding for
the past few days and In the rebound when
this impeachment was struck an advance was
made Of nearly three points over the bid
price of Saturday, which was 145.
1t was soon developed that there was
some stock for sale. condition which has
not existed heretofore, so that the DOWN
ward course has not been accompanied with
transactions OF any consequence. But today
strong support appeared in broker who Is
in the direction OF the company and who
was out for all the stock that was to be had
higher prices to the contrary netwith-
standing. He was evidently willing to take
all the stock that was offered at and under
1478a, and he did so. The entire trading ran
up over 400 shares, and altogether formed q
rather unusual experiences in the case of
this stock, as it is seldom that much float
ing stock is developed.
1t was naturally supposed that the hold
ings sold represented in part perhaps those
of Mr.. Glover. who has recently severed
his official relations with the company. but.
Of course, that was entirely conjecture. At
any rate the stock made a considerable
progress back to its former level of 100, as
the closing bid was 14T& and the asking
price, 14S.
A good deal of skirmishing occurred in
the case of the stock OF the Second National
Bank. and while the record shows q good
many transactions. yet 1t is thought the
transfer books Of the bank will not bur-
dened with many changes In consequence.
The trading was all the way from 17S1a to
1S3, and these figures represented, 1T Is
supposed, the improved prospects of the
institution arising from the new relations
both in this city and in New York which 1t
Is believed will result from the distribu-
ton of the proposed increase in the amount
of the capital stock
There was nothing done either In the
stock of the Traders Banls or in that of
the Lincoln Bank, attention to which was
again called by the advance made IN the
bid prices on Saturday. A slight advance
was made in the bid for Lincoln, nut in
neither case was stock offered for sale.
According to the current rllfnors the BUSH
ness of the Traders Is such as to justify
an Increase in the dividend to be paid from
. to per cent while in the case of the
Lincoln the better figures are explained by
the runored attempt Of parties to purchase
control of the bank. What exactly is meant
by the latter gossip Is not explained as the
statement Is made that the control when
secured, would not be used In connection
with any other city bank.
In line with the better business condi-
tons OF the national banks of the city, as
IS evidenced by their annual statements
OF the business of the year, comes the
story that 1t is the purpose to do some
thing more for the stockholders of Riggs
Bank It is believed that this will take
the form of an increase in the dividend at
some date IN the future, but this is only
vague surmise.
The newspaper statements of the pro-
posal to organize a company to run O line
of steamboats, between this city and Nor
folk Is naturally of interest in the local
financial world for the reason that the
stocks and bonds of the existing company
that Is now providing such a service are
mainly held here.
1t is not claimed that there is very much
known as yet of this proposed new enter
prise, but there is some doubt expressed
as to whether it will materialze, espe-
ciaHy on the terms published in the
newspapers, which provide only capital
of S0,G60 which Is not looked upon as
sufficient to provide very strong COM
petitor to the existing company.
Gas stock went up to the 50 level and
stayed there for time in spite of the fact
that several blocks of the stock We're to
be had at that figure. The bid did not
stay there long, but went to a quarter of
a point lower, leaving the market stock
to be had at CO. Whether this is one of the
uncertain movements that are so common
in this security or whether it is really get
ting ready for higher or a lower move
ment is one Of the those things about
which the knowledge to be had is neither
positive nor abundant.