Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-10-15
LOCAL FINANCIAL NEWS

There was nothing that occurred at the
meeting Of the Stock Exchange today that
was Of special interest or pointed to any
change In current conditions. The presi-
dent Of the exchange, Mr.. Thomas L.
Hume who has been away for a few days
for the purpose Of taking the first holi-
day he has had this year and also with
the idea OF gathering some OF the birds
that taste good when properly cooked. is
back, and. as he has been doing all along.
he supplied the figures for the quotations
on the prevailing level when no one else
appeared to be inclined to do SO.
AS there Is no business Of any volume
at these times except. of course. when
some blocks Of stock come on the market
under a pressure to SELL the figures might
show wide fluctuations II there was no
care to maintain them on a reasonable
range. As there Is no trouble with local
securities except that of the general con-
dition. 1t Is expected a period Of activity
will set In Just soon as there is more
loanable funds and public confidence Is on
a more assured basis.
There Is the suggestion of the days of
a livelier market in the current gossip
that is revived at intervals relative to the
Washington railway securities One thing
that Is most commonly heard Is that Mr..
John r. Mclean has bought the holdings
OF Mr.. McDermott. the president OF the
system. but there Is no one that seems to
know whether or not there is any founda-
ton for such story. OF course the idea
that Is entertained of such move Is that
1t means the purchaser Is to take an
active part in what Is done next January,
when the road passes into the control Of
the stockholders and out Of the hands Of
the voting trust.
TIE fact that the stock did not carry
with it the quarterly dividend Of so cents
per share had some effect on the price of
gas today. the one lot sold bringing IS.
while yesterday IS was paid
However. there Is no reason to suppose
the ex-dividend condition had any influ-
ence on the selling price Of the stock. as
1t seldom has. for as a rule. this stock
sells on the basis of what might be paid
In the way of dividends rather than what
IS actually paid. If there was not prob
ability of a distribution OF the surplus
the company Is believed to have. 1t would
naturally be expected to sell as other
securities do on the level Of what 1t yields
in the way of dividends.
At the rate Of the present dividend this
stock pays per cent on a valuation OF
$50 per share, but 1t Is the expectation OF
benefit to the stockholders from the pro-
posed increase in the capital stock that
justifies the present quoted value.
The copper stocks have not shown any
recent change. Today Greene Cananea
sold for 7, and then the bid receded to
81. while in the case of Mitchell Mining
block of five hundred shares changed
hands at ~.
The process Of picking up odd and other
lots Of telephone sock at about 90 still
continues. and here is some business
done In it. but the volume does not amount
to much. as the stock liable to come on
the market is not large.
Today's Government Receipts.
National bank notes received for re-
demption. $750.7l4. Government receipts:
From internal revenue. $685. 34: customs,
$s41 .52S; miscellaneous, $6S,6O3. Expendi-
lures 81. 100000.