Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-02-24
LOCAL FINANCIAL NEWS.

The common stock OF the Washington
Railway and Electric Company again to-
day. just as was the case yesterday at the
meeting of the stock exchange, occupied
the center of the stage. There was no
other trading of consequence, and all in
terest was absorbed In the active buying
of the security. AS was the case yester-
day, one broker did all the buying practi-
caily. and of the total sales of the day.
which ran up to some four thousand shares.
ne bore OFF nearly the entire lot.
With the twenty-five hundred shares
which comprised the sale of yesterday
this broker has bought up to the present
time about 200 shares, and according 10
the current gossip of the street he has
acquired quite a large block outside of
the exchange, which in that case would
bring up his recent acquisitions to within
the neghborhood Of 1000 shares
The buying today was quite AZ strong as
on the previous day and resulted in the
advance in the price OF the stock fun
point, which added to the point and fve-
Fights, which was the advance or yesterday,
makes an upward movement of two points
and five-eights in two days. Beginning yes
terday at 4oTs 1t ends today at 43tz. when
is quite rapid movement in this stock
as has taken place at least in recent days.
There were some sales today a an eighth
less than the best price of the day before.
which was 424. but not many The up
SO very rapid, still was continuous.
1t was noticeable that the buying was
unusually strong and that at any level of
the prices the broker who was gathering
in all the stock was willing to take 1t IN
any quantities, whether quotation lots or
80 or LOCO shares. In fact. the bid at AZ
and higher was practically unlimited. and
the bidder was willing to take any quantity
offered at these figures.
A couple of Joo-share lots was included in
the sales of the day, and II any one had
a larger block he could have found a pur-
chaser. The bid at the close was 4354 and
the lowest asking price A. but 1t is
not believed that there any great
quantity to be had even at that figure.
1t is not supposed that the purchase of
5000 or 1900 shares, or even la,000 shares,
would exhaust the holdings in this city. II
is well known that a good many people are
unwilling to sell on what they regard a ris-
ing market. and it was evident that is the
kind that prevails at this time for railway
common There is a good lot of the stock
held here, and the idea seems to be very
general in regard TO the transactions of the
past two days that the buyers are not local
people, or rather, that they are not iii the
sense that the local banks will be asked to
carry any of the recently acquired stock.
It is believed that this stock will go to New
York banks. At the same time ii is thought
that ii is a movement acquire some in
terest in the railway company for future
purposes.
1t is recognized that there is a possibility
of the activity being merely an effort to bull
the stock with the view of getting rid of it
at the higher prices. but this is not gem
orally held, and IS only advanced as a pos
sible explanation of a situation that seems
to be puzzle to most of the men in
financial circles.
The trading III the bonds of the Wash
ington Railway and Electric Company did
not maintain the level of the previous day.
as some of the bonds went for STs al
though a good deal of the trading in these
securities was looked upon as being in the
ma ture Of manipulation. AT any rate. the
range OF the selling, which ran up into a
rather large aggregate was from ssh to
ST7a.
The preferred also sold at a somewhat
higher level than was the case yesterday.
The sales included a couple OF 500-share
lots at 50 and SSs4, and at the close the
stock was offered a 50 and the bid was
three-eighths of point below that. There
was, however, not much interest taken in
the trading. and the demand was not at all
pronounced
According to the figures of Ezra d. Par
ker, the manager of the Washington clear
ing house, the total bank Clearngs for the
week ending today were 81, G27, II, an in
crease of $449, 1876 ~ over the corresponding
week last year