Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-09-10
LOCAL FINANCIAL NEWS.

There was some activity at todays meet
ing of the stock exchange. and while It did
not extend to the entire list. and. in fact.
was mainly confined to Gas stock and Mer-
genthaler, stiT what was done impaired to
the days transactions some Of the spirit
that prevails when there is something doing
all along the line.
The Gas stock easily took the first place.
both on account of the number OF shares
traded in as well as because the buying
was more general.
The trading in Gas stock started nearly
on the level OF the bid which was made on
Saturday. namely, 59ss and it was not long
before it was evident that there was a
block of stock for sale, and that 1t was
going to be sold. Before this was clearly
brought out, however, a considerable por-
ton of the 10 shares was sold, and the
balance went on declining scale, the range
between the highest and the lowest selling
point being within an eighth of point OF
three points.
The lowest mark reached was ssh. which
was quite a descent for this stock, which
has been maintained at about 60 for good
many months past
A feature Of the trading that did not es-
cape notice was the fact that all the
stock practically represented In the list
while the buying was quite general. as 1t
seemed that there was quite good mar
ket for the stock at the cheaper figures.
The broker selling the stock evidently had
point the outflow of stock from that source
ceased although. 1t was still offered at
that price. There was soma appearance
of the supply having about reached the
Whether it was simply a case of the need
Of finding a market for the block of stock
or whether 1t had any relation with any
proposed operations in the future Is
question that remains uncertain.
Mergenthaler did not figure in the trad
ing to the same extent as was the case
with gas stock. There were only forty
100, but the point of interest was that the
broker buying at the first figure took all
that was to be had at that price and then
turned around and offered the stock for
sale on the same level.
There was quite a good number OF
transactions recorded in the preferred
stock of the Washington Railway and
Electric Company. but there was no gen
eral trading, 1t being confined practically
to two brokers.
At the annual convention of the Bank
Clerks Institute, which closed its session
a: Atlantic City Saturday. additions We're
made to the number of trustees, so that the
control of that organization is said to De
practically in the hands of the clerks. Dur
ing the past six years that this organiza-
been with the American Bankers Associa-
ton. under the auspices of which 1t was
formed.
1t was stated by e. D. Hubert. president
o. the institute and vice president Of a
Chicago trust company. that 1t was sup
posed when the institute was organized the
clerks would take 1t in their own hands by
the end of the first year. There were two
reasons, he said, which Influenced the rus
tees to modify this plan. One was the
doubt among the clerks themselves of their
ability to finance the institute with out as
ststance. and the other was the fear that
grew up in certain quarters, due to ,.s
rapid growth, that there was sometfi ,g
behind the movement besides a desire for
mere bank training. 1t was intimatei that
the organization would be turned Into a
labor union.
personally. the speaker said that he did
not lose much sleep over such a possibility
Tor In the first place he knew the CLERKS
were not fools, and in the second place he
did not believe that they could join the
labor unions If they wished to. AZ the lai.
ter would not have them
however, he thought that bank clerks
were already getting almost everything
wnicn TABOR unions are trying to get or
nave any right to try to get by the union
MI. Griffin Halstead was back again in
shore. o. 'se eea
Mr.. John T. Hendrick Is also back and
IKE Mr.. Halstead. he has the apnearanc
OF having been exposed to the ather'