Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-05-03
LOCAL FINANCIAL NEWS.

Trading in the rights Of the new per
cent bonds that are to be issued by the
Capital Traction Company on the nrst OF
the coming month occupied the main por-
ton Of the time at the meeting today OF
the stock exchange. It was the second day
since the listing Of the bonds and since an
opportunity was given to buy and sell the
rights. There were only three transactions
recorded yesterday In the rights, and tho
range Of prices then was los and 1oeh.
Today, however, the sales ran mp to the
ueighborhood Of $150000. and while some
lots went fractionally less than 1O7 the
main trading was on that Level. AT the
close the bid was 1O7 and the asking price
q quarter OF q point In advance of that.
The trading was animated. AZ IL always
the case when there are good many buy
ers as well as sellers. The former, was
noted. were mainly from the ranks OF those
who are identified with the company.
It's stated that a portion of the funds
that will be derived from the new bond
issue will be used In providing additional
facilities in the, way of charging the power
house and Installing q steam turbine and
In restoring to the surplus money taken
from the earnings for betterments.
Nothing was done in the common stock Of
the Washington Railway and Electric Co.,
and in the case Of the preferred stock a
couple of quotation lots Of fifty shares sold
for 70 ana 5Sh, which II q recession from
The demand for the bonds Of the company
at 80 was sufficient to take from the mar
ket all that were for sale at that price. The
ASKING price. however. was only an eighth
NAMED at 60 After call four thousand were
taken at sOs.
Gas stock was not active. An option was
sold for 62h, which represented the total
OF the trading, with the exception Of q
small lot at 81. The bid remained on yes
terday's level. which was 61%. The buying
was not very keen, and It looked very
much as If the edge Of the recent movement
was somewhat blunted. although at the
close the asking price was an eighth Of
point better than that Of yesterday, name
ly, 62h.
A new plan has been adopted by the
Treasury Department IN relation to the
distribution Of the money that will be paid
by the taxpayers of the District during the
present month. Heretofore the money has
been deposited IN the banks Of the city,
but only such banks have been selected
that were repositories of public money.
This year. however, all the national banks
will receive proportion of the money,
which Is about four millions Of dollars.
The allotment remains the same Els that
Of previous years. namely, each bank will
receive in proportion to the amount of the
individual deposits. The purpose, Of
course. In placing this money in the banks
instead of allowing 1t to remain In the
treasury Is TO make II available for public
use.
There is a pretty general expectation"
says the Wall Street Journal, "of mod
crate business recession as q result Of ex-
listing financial conditions, but no one has
fixed the time when this recession would
reveal itself in statistics Of declining trade.
Thus far the volume of business has ex-
ceeded that Of the corresponding period
of last year. which was a record breaker,
while some of the great Industrial corpora-
tions have enough untitled orders ON their
books to keep them active for most, II not
all, of the rest of the year. There is moth
Ing at all disturbing. therefore, In the i'm
mediate outlook.
Whatever may be the record OF the last
half of 1907 1t would be in entire accord
with precedent that the year 1908 should
witness falling off in the volume of bust
ness, for that is presidential year.
Today's Government Receipts.
National bank notes received today for
redemption. $3.50, 100. Government receipts: