Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-05-08
LOCAL FINANCIAL NEWS

The local market, as FAR as the transac-
lions at the daily meetings OF the exchange
are concerned. continues to be stationary.
There is no movement either one way or
the other. A lack OF pressure to sell on
the one hand and an absence Of buying
orders on the other Is noticed This has
been the condition for some time past and
is attributed generally to the state OF the
larger stock market as reflected in the busi-
ness done In Wall street.
There Is a division of opinion as to the
future. According to the judgment Of some
this is the beginning OF the usual duliness
that starts in at the beginning Of the sum-
mer season or is eoincident with that period
OF stagnation in business generally. The
only difference in the present situation. ac-
cordfng to this view. Is that 1t has started
In somewhat earlier than usual.
On the other hand there are those who
look forward to an Improvement in busi-
season, and they rather expect a revival
In activity when the warm weather
comes on. Such a belief Is based on the
general character Of business. which is
good In this city, and the volume Of
which Is perhaps larger than any other
year.
In addition. money is fairly abundant,
as shown by the bank statements, al
though It is expected there viii be a
falling off in deposits at the close Of the
next period which Is marked by the is
sue of the usual call of the controller of
the currency.
One Item alone that Is expected to
draw rather heavily upon the funds now
ments of taxes on real estate. which
falls due this month. It is estimated
that the amount that is likely to be
paid on this account during the current
Under the system of returning this
money to the banks Of public deposit in
the city the withdrawal on this account
VIII only be temporary as by the end
of the thirty days the entire sum that
Is paid In by the owners of realty will
be deposited In local banks by the Treas
ury Department.
There will, however, be shifting of the
money. as It will be drawn to some extent
from all the institutions in the city and
ment funds only in national banks that are
regular repositories Of public funds this
money will be divided up among the six
national banks in that list according to the
amount of the individual deposits in each
1t Is the belief OF some who have given
attention to the subject that owing to the
abundance of money and the general pros
perfty In all lines Of business opportuni-
ties for speculation and investment will be
sought for, and in this way the business on
the local exchange will be revived in spite
of the time of year.
H1gh-water mark in recent prices for the
preferred stock of the Washington Railway
and Electric Company was reached today
when 91A was paid for fifty shares of the
stock. There was no more wanted, but
there was no more offered less than quar-
ter of point in advance of that. The
stock still carries the nearly accrued semi
annual dividend Of two and one-half dol
lars per share, and will continue to be sold
ex-dividend until after the 21st instant.
Better prices were also paid for Gas stock,
the highest point reached being co., The
asking price was advanced to 611a, but there
was nothing more done.