Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-01-12
LOCAL BTNANcIAL NEWS.

A decided improvement Is noted In the
local stock market since the beginning or
the year This Is shown not 30 much by an
enlargement in the volume OF the business
as by gradual rising In the level Of prices.
The recovery from the reaction which came
about the time the money market In New
York began to show signs OF stringency
seems to be now taking place.
It IL being accomplished without much
difficulty and with comparatively slight
dealing. The tendency toward better prices
Ia marked in the case Of the more active Sc
curfties. and while the change In the money
situation has no doubt some influence IN
this direction. still thus far the speculative
element has not been much In evidence
Money is in greater abundance here and
loans are more readily obtained; sti!l
there is talk heard Of tight money. and It
can be placed. All this has an erect on
speculation. and while at no time does 1t
run to extremes here. still In an active
good proportion Of the business that Is
transacted.
An advance was made in the bid price
for the stock of the Capital Traction
Company without bringing out any OF the
stock. The lowest asking price was l4S.
One hundred shares were offered Tor
15l. and the bid for such an amount was
The preferred stock OF the Washington
Railway and Electric Company could be
had at ely and the common stock at
43h. A sale was made Of fifty shares at
43A, and that was the bid for more.
Some fractional lots of Traders Bank
stock sold on range of from 1s2 to lOo.
and then the bid was 1914, which was
finally withdrawn.
The bid for National City Bank rose to
49, ". which was withdrawn. The low
est offering mas 13eh.
A better bid was made for the stock OF
the Real Estate Title Company, as 1t rose
to So. while the asking price remained at
90.
No change was made in the bid price for
Telephone stock. which Is 90. The asking
price was g. The advance In this stock,
after so long a period of Inactivity, Is &C
is going to be done that will be of advan-
tage to the stockholders, but exactly what
that will be Is not clearly stated.
In fact there are those who are skeptical
Ut anything being done In the near future
IN the reflnancng of the company In order
to provide for the floating debt that has
bean incurred in making the extensive inn
Drevements in this territory.
There was some trading In the common
stock of the Graphphone Company on
range Of and 51s. and at the close the bid
remained at s..
Inc trading In Mergentnaler was alonS
the same level that has been quoted for
several days past
Stockholders oversubscribed the amount
needed to build a railroad from the Mitch
ell copper mine in the Mexican province OF
Guerrero to the nearest Pacific seaport,
Acapulco. last night at a meeting held at
the Hotel Raleigh.
More than eighty stockholders were pres
ent. Mr.. George Mitchell, the general SUI
perintendent, who was present. speaks Of
the meeting as unique occasion. in that
the stockholders, without the aid OF any
outside syndicate, are doing their own IN
derwriting. So greatly has the privilege
been appreciated that from Washington
alone bonds to the amount of $1,250,0O
have been taken, and 1t Is expected that
when the matter is opened up in New York
more than twice the amount needed will
be subscribed.
The mine. which has been developed for
about three and half years. has at pres
ent an output. which is packed over the
mountains on mules, and the profit from
which Is sufficient, 1t is stated, to pay the
operating expenses as well as the dividend
on the stock.