Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-09-04
LOCAL FINANCIAL NEWS.

Ihere were several aQ0lConS TO the NUM-
Der OF the sunburnt brigade at today's
meeting of the stock exchange. Members
who have been away ats the seashore and
the mountains, were In their places and
showed by their heightened color that they
sun. Among the new arrivals were Sanford
N. Whitwell. c. F. Norment, w. Riley
Decide and Perry Johnson.
Mr.. Moments face. however. showed
very little evidence of old Soils influence. and
Mr.. Bell sought to explain 1t by saying
that 1t was due to the fact that Mr.. Nor
ment had spent his vacation in the prohibi-
ton state of Maine.
The infusion Of new blood or. more prop
erly. invIgorated blood, at the meetings Of
the exchange did not have any appreciable-
effect upon the volume Of the trading, all
though there were some orders fled in the
common stock of the Washington Railway
and Electric Company. and some Lanston
that was for sale found buyer. This was
also the case with block Of the stock
of the City. National Bank.
The bond list was passed over Wathout
much effort to trade in it. although after
the call quite large block was offered for
sale at fractional advance over 81, but
without result. A smaller lot was taken at
s7h.
AS usual the bank list did not give rise to
much trading. Some sparring took place In
connection with the call both of the stock
of the American Security and Trust Com
pany and of the Washington Loan and
Trust Company, but nothing came of 1t ex-
cept few fractional lots changed hands,
and the bid price moved up little.
The comparative inactivity of the local
market as contrasted with the continued
bull market in New York and the conse-
quent activity there is explained generally
in two ways, which are, however. diamet-
rically opposed.
On the one hand, it is stated there would
be a livelier market here in all probable
ity, If it were not for the scarcity OF
money, as evidenced by the advance in the
rates of interest in New York. But even
under such circumstances. it is. claimed.
that the local supply is ample to meet the
local demand.
On the other hand is heard the complaint
which Is not unknown here. that the al
legged stringency in the money market Is
due to the fact that bankers are sending
money over to New York to take advan-
tage of the high interest rates that prevail
there. This charge is not admitted by men
who are in a position to control large
amounts Of money.
1t is quite evident that 1t is impossible to
get a harmonious explanation of the pres
ent condition of the market. especially as
bearing on the question of why there Is not
more doing. However it is not expected
by any one that this is going to be per-
manent phase of the market. and so there
Is confident expectation of a. better time
coming.
Some Of the brokers today were asking
Mr.. Hibbs about his purchase of a farm
near Leesburg, Va Mr.. Hibbs admitted
that he had bought tract Of land near
that place and not very far from where
Mr.. Lynn finds recreation from business
by turning his attention to farming.
fTno will
there, and 1t will be on top Of the noun
tain, commanding a view of Leesburg. as
well as considerable portion of the state
Of Virginia. Mr. Hibbs thinks that his
place is long on views. and In that respect
there will be perpetual bull market at
mosphere which will not be disagreeable.