Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-11-27

1nef6 was ooInotn1n2 cone u ta0 M00S.
Ing today Of tho stock exchange and while
the record does not show any great volume
Of buainess. stfil- what was done was o.
good quality. and Indicated that there h
market after all In soma caesa the buy
ing vas on an ascending scale, ana In
others. where tho sellers showed aisposi-
ton to meet the market. they found very
good demand.
The common stock Of the Warrington
Railway and Electric Company was the
nrst security that figured a. an active
trader. It sold al high al z1K. which 10
half . point higher than the asking price
Of yesterday. The bid for options was ON
that level. and one was secured at that
price. and the bid renewed for more. but
there were no moro to be had and an Of
ferfng Of options at ~ was withdrawn.
The bid reached AIN. and remained there
at the close. and while at times It went
somewhat higher. and the stock was to be
had at AN. stu that was evidently the
limit for the dsy. When tho bid for q quo
tatton lot OF nifty shares was 1t Az the
principal dealer In the stock asked what
was the bid for 500 shares. He does not
often get any response to such an inquiry,
but today he did, as the broker who made
the bid for the stock said he would also
give that for the larger lot.
For some reason. probably because he
was surprised that sucn a lot was wanted.
the broker who started the inquiry did not
make any such offering.
Union Trust Company stock sold down to
1876 and then the stock was to be had at
1H and the bid was two points below that
level. The rights sold on range Of from
7 to o.
Sales were made Of the stock Of the
Washington Loan and Trust Company
down to 214X. The bid was then 21411
and was not only for a Quotal,on lot Of
ten shares, but for fifty shares, and for fifty
more shares a bid of PA was made. At
the close the bid was 2151s and the asking
price half a point in advance.
A block OF fifty shares came on the mar
ket and as soon as that was disposed of the
movement was toward the old level.
A well-known economist has made a
scientific analysis of grating with the
view Of determining the definite char
acter OF the CRATER, as we'll as the con-
ditfons under which, he flourishes. The
CRATER is regarded by this writer as an
institutional parasite. Like all parasiteJ
he has the art Of insinuating himself
into the life Of the community In such
a way as to absorb a portion of the COM
munal substance and appropriate 1t to
his own profit. In one sense CRATER
Is to a corporate community what flea
Is to a dog. 1t is the trustee type Of
CRATER that. according to this analysis.
nal. should give the greatest concern.
But still worse than the pecuniary loss
from such a source is the deep-seated
Generalization which results from the
discovery that men whose honorable and
successful careers have been held up to
the youth of the land as worthy of imt
tation are later discovered to have. in
their service as directors of corpora
tions, by methods known to themselves,
managed to divert millions Of corporate
property to their own selfish purposes
The CRATER keeps attention away from
his own operations. declares this writer,
by preaching morality on the part of
others, insisting on respect Of law. max
ing reputation for charity and shelter
ing the oppressed in order that there may
be no reduction In the number Of his
victims.
The condition which favors his exist
ence is, In the writer's opinion, the lack
of institutional control. 1t Is not by
making war on the individual that the
evil can be corrected but by developing
such forms of control as will make this
parasitic life Improbable. In other
words the remedy according to this
view, Is more publicity and better type
Of trusteeship in the management of the
property of others.
Today's Government Receipts.
National bank notes received today for
redemption, $5S3.92: government receipts
from internal revenue, s3s9. ABS; customs,
$l12f.611; miscellaneous. .$193,9OS; expendi-
lures. 81, $4,000.