Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-06-17
HEARD ON CHANGE

The absolute certainty of death and taxes
on the one hand is only equaled by the ut
ter uncertainty OF the stock market on the
other except in case of such financial Sc
renity as seems never to exist when any, body
wants to buy or sell something ON change.
So the Washington brokers. to judge from
their recent expressions, are content and
philosophic in presence of the dizziness ana
comparative inactivity which have char
acterized stock exchange operations during
the past week 1t is argued that the local
market is merely reflex of prevailing con-
ditions on other exchanges throughout the
country; that the unexpected happens Of
tener in the security market than in any
other forum of chance, and that everybody
should be hopeful and cheerful, because the
pendulum does not swing one way all the
time, and the worst may not be yet to
come. If things take a turn for the better
before autumn days 1t will not be the hrst
summer when unforeseen activity has
proved a gratifying substitute for practlcai
stagnaton in the stock market.
Business in the bond department has ex-
hibited a healthy undertone. and in view
of the uniformly interested inquiry for the
leading substantial issues operations have
been fairly satisfactory. For some time
past there has been an unusually fnslsteht
demand for 5 per cent investments, but such
good things are not easy to acquire among
high-class bonds in this market. 1t Is neted
that the disposition to sell Potomac Elec-
trio per cents. which was In evidence
some time ago. no longer exists, and tnat
there is firm demand for AnacoStla ana
Potomac per cents and City and Subur-
bans at fair prices and an upward ten
dency. Gas certificates reached 113h and
some business was done In the extended A
per cents at 10o to 105AA Not much busi-
ness was done in Norfolk and Washington
5 per cents, interest day June l. and bids
range about 1862, while the major part Of
bond operations centered about washington
Railway and Electric per cents. There is
practically no speculation in this security
of late, and the continued call for this bond
at prices ranging from S67s to stu has been
undoubtedly for legitimate investment.
Among the trust companies Washington
Loan and Trust showed considerable firm
ness between 22819 and go. and American
Security scored an advance from 26S to
275 Few offerings of Union Trust were
noted, and the price remains firm about 1ol
and 1872 Business in bank shares has been
satisfactory. Sales of Second National
have covered a recent range from 1881 to
1856 and the same interest taking over these
shares also acquired the great part of Ma
tional City that was offered at from 134A
to 49, Central sold at $50, and small lots
of Commercial brought 1874 to 1876. There is
no difficulty, according to the banks and
trust companies, in making all the loans
they care to put out, and considerable sums
of money are still being paid into the col
lector's office on account of belated tax
calls. Little or nothing has been done re-
Gently in the insurance list, Columbia,
however, having an advance to IL. The
liquidation of the Colonial company which
is progressing on account of San Fran
cisco fire losses. has already been referred
to in The Star.
Movements in Capital Traction have been
distinctly erratic, and have covered a range
from 143 to 1451h The stock, nov ever,
scored a fair advance. In Wash lgton
Railway preferred trading has been slight,
with firm tone about S75s to SO. In the
common shares a distinct bull movement
not stopped until 42b had been recorded
Various explanations were given for the
movement, satisfactory to some and unin-
teiHgible to others Yesterday the price
ruled about 41A. In Washington Gas, while
there were were some sales at 81, the last
bid and asked price was 60ls-601z. Mer-
genthaler moved from 1876 to 1877 In anticf-
patton of the dividend to be paid to stock
holders of record June 10.
The sale of 100 shares of Washington
Market at IA was the first recorded trans
action in this stock of many months, and
q few sales of Norfolk and Washington
Steamboat were noted at 315-offerings at
800.
Greene Copper has been comparatively ac-
tive selling ex dividend around 25; 24M be-
ing the price paid for 500 shares on yes
terday.
with so much hopefulness and so much
good humor prevailing the stock ex-
change there seems every reason to be-
lieve that this week the members propose
to be happy whether the volume of business
be great or small.