Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-08-01

Tho absence Of two Of three OF tho ni0ss
| conspfcucuo deaaofu On sc1ianGo tpdny pcrs
| haps accounted Tor "a faaxpreGsibly anil
market In Ioc4l sscuritieA Thsre w1s or
notable exception. however. -Four thost-
sand Columbia Railway SIS sold At 104x
tionary for some time past On July !
$1,000 were sold at f04x. and that has been
the figure at which the bonds were market
able readily since that day.
Some idea OF the condition OF the market
may be gathered from the fact that theirs
was not q transaction recorded In Washing
either common or preferred. The day FUR
nished record breaker for some time past
in this regard.
Potomac Electric Light. however. was In
demand. and Loco sold At tefs5 The sta
bility Of this security. however. Ii Illus
trated by the fact that an Identical sale
was made on July 9-1.0Q0 SIS at f041k.
Some interest has attached to Mitchell
In the last two days. Yesterday It went
down to (. Several operators were inclined
to become panic stricken because of a re-
port that there was to be proposed In
crease Of the capital stock This increase
to 81. 600 0O0 An Indication Of the true
condition is best obtained by today's mar
ket. when 500 sold at AZ and a 100 lot
at ~.
Two Capital Traction sold at 14s. The
price yesterday was 1923
According to one of the cleverest finan-
ciers In the country, II Is not at all I'M
probable that the general public viii turn
ITS attention to the local bark securities.
No city In the country has banks that are
more conservative than those here. In
nearly every city In the United States banks
generally are under local obligations.
Directly and indirectly the tight money
~ ~
the crop conditions must affect the mercan-
tile city Washington stands in different
light and several Of the local banks have
larger sums that may be utilized. A promi-
nent financier who had no az to grind
stated today that he did not think that
there were many investments possible that
would compare with the securities of some
OF the capital city banks.
There was demand for several of the
bank stocks today. but the difference be-
tween the bid and the offer precluded sales.
comparison with the prices of the last
few weeks. however. will perhaps suggest
some Interesting conclusions.
Nearly a 2-point rise in two days indi-
Gated that there was something doing In
Greene Copper Yesterday 400 at 21B and
6S at % was the record. Today 500 shares
sold at %, 100 at 231s and 80 at 23A.
Local financiers are of the opinion that
the thirty-year Panama canal bonds were
a very successful issue. despiteSthe fact
that any Tom. Dick and Harry without
sou in his clothes gould put up bid for
them. That feature of the sale will not
be overlooked for some time to come. The
logical factor in the sale, however, which
undoubtedly made the issue so successful
was the clause which permitted all pur-
chasing banks to retain one third of the
purchase money.
The success of the issue was quite
sufficient justification for the Presidents
congratulatory letter TO the Secretary Of
the Treasury. local financiers think
Today's Government Receipts.
National bank notes received today for
redemption 1901, 1913: government receipts
from internal revenue $902.221; customs.
81 ,416,779; miscellaneous. 800; expendi-
lures, s2.72O,0oO.