Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-04-01
HEARD ON CHANGE

+ Z ~. "a
The main event OF rather unevcntfui
week in the local financial market was the
announcement of the long expected divi-
dend on Lanston. The amount. which was
4 per cent, was what had been anticipated
and In fact this action In all its phases
had been so thoroughly foreseen that the
action of the stock on the market the day
the official news came gave no indication
of it.
To the stockholders the Importance OF
this step Ia. OF course. very great, as IL
lifts the stock from the class of non-divi-
dend paying securities, and thereby gives
1t better standing a collateral as well as
affording source OF revenue. 1t Is sup
posed that the increase in the business and
In the earnings of the company make such
. a course possibility. and 1t is held that
there is future for the company which
opens up a prospect of still larger revenue.
Altogether the outlook for this stock is
much improved according to the general
view which is taken of it in the market.
If I,anston takes its place among what
are regarded the active stocks on the
list the business of the daily meetings will
be enlarged. contamination which IS much
desired by those who are interested In in
creasing the volume done on the exchange.
At the present time the Washington rail-
way securities continue to furnish the bulk
OF the trading, and recently, owing to varf-
Gus causes the business done in them has
fallen off, which leaves the daily transac-
lions somewhat reduced in quantity. Still
the record shows an average which is much
greater then ever before.
No doubt the conditions here are infiu-
enced in no slight degree by those which
exist in the greater market in New York,
and just at present that market is In a
rather uncertain state with fuctuating IN
terest rates and reduced volume of bust
ness.
AS an indication of the life in the local
market may be taken the movements in
the street railway stocks, which now pre-
sents, especially in the case of the com
mon stock of the Washington Railway and
Electrfce Company, a series of fluctuations,
which at least show the presence of a
speculative interest.
In this particular 1t Is noticed that the
changes in the common stock are not as
broad as was formerly the case, and 1t is
argued from that circumstance there has
taken place a decided change in the char
acter of the holdings, which is believed to
point to added strength. support is now
found for the stock which has MOI been
noticeable In manipulative movements in
the past. 1t is concluded that the amount
of what might be called floating stock is
not so large as was once the case. and
hence 1t Is that 1t is showing firmness and
an ability to rally from bear attacks which
were formerly absent
Discussion of the best means of expedit-
ing the daily business of the exchange still
continues, although no definite conclusion
has been reached, and 1t is not known that
anything is being considered Thus far the
matter has not even been referred to COM
mittee which from one point of view, is
a hopeful sign, for, as g rule, in most bod
les that is equivalent to doing nothing.
There are those. however who are in
clined to think that the trading would be
better and more quickly done If there was
more of the freedom of the after call, when
individual brokers can trade with whom
they please and in what they please and
when they please In the event II is not
thought best to do away with the call en-
tirely. as has been suggested, and. Of
one or more cigars with feet cooked up and
no fear Of being disturbed by business mat
tiers, then 1t is suggested that some rear
rangement Of the stock list might be made
There are some stocks that are active
being traded in nearly every day, and some
that are occasionally touched and others
that are only annually disturbed. 1t is pro-
posed to put the two latter classes In a sec
ton of the board so that they will be
reached toward the end of the CALL bring
that the trading in them can go on when
all the brokers are present and one tired
with sitting around for nearly an hour
waiting for something to turn up,
This latter plan offers midway course
for those who favor on the one hand the
giving up of the call entirely and those who
stand pat for the present order.