The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1907-09-24

II was Il uuh uay on cnange. IN the
first place. it was raining pltchforks just
about noon yesterday, and those bro
kers who did not have specific business
on the Washington Exchange were not
there. The attendance was small, inter-
est tagging and business in restricted
volume. Transactions Of the day were
NSeo0 in bonds and s. share Of stock.
When the regular call reached Chesa-
peake and Potomac Telephone, there was
Il general rustic Of interest, as 1t was ex-
peeted something would be doing In con-
sequence OF the announced plan Of merger
Of the local company IN two larger East
ern companies. A broker who is closely
identified with the local company bid
$50 share for an option OF 100 shares,
but there was no one 10 take 10 the
Offer II would be, perhaps. a difCult
thing 20 marshal 100 shares of this stock
in Washington, as It is understood that
the number Of holders IS small.
The only trading recorded was 6 shares
al 90, which appears to be the new price
since the announcement OF the proposed
consolidation. II Is not thought likely
that there will be any particular EFFORT 10
acquire the stock on the local exchange.
as most Of Il IS held by persons who
would not care 10 part with il.
Gas Adds Half IA Point.
Washington Gas added about half a
point 10 the bid price in its upward
way. with no sales recorded. 1t was said
yesterday by the knowing ones that very
little OF this stock could now be un-
covered short Of SO a share The bidding
Of inside against outside interests for
the floating stock has had its effect. and
those who buy row will probably have
to pay well for IT.
There was no additional news In
Mitchell Mining. II was stated that
George Mitchell had arrived in New
York. and that this week would prob
ably see the beginning. II not the termi-
nation. OF the discussion OF the policy Of
the company. The price OF the stock here
and IN New York remains firm at SIS
O share.
The American Bankers Association will
meet this week In Atlantic City. T
Southland Parker. president OF the Ma
JiOnal Metropolitan Bank, is the dele
gate OF the Washington Bankers Ass0-
citation. and viii attend the convention.
II. II. Mckee, cashier OF the Capital
City Bank. is alternate. and he will prob
Of Riggs National Bank, left the city
ably attend. Milton Allies. vice president
Of Riggs National Bank. left the city
yesterday, and will be present at the
meeting OF the association. W. V. Cox
president Of the Second National Bank.
Will attend the convention on Septem-
Der -
VIII start This Morning.
The meeting Of the trust section Of
the association will convene to-day in At
lantic City. and the sessions Of the Bank
ers' Association VIII begin tomorrow.
Howard Reeside. vice president Of the
American Security and Trust Company.
has just returned 20 ais duties. after d
months vacation II Rangeley Lakes, Ne
0Ir Reside enjoyed his outing in the
North. and comes back 10 his work
greatly improved in health.
One OF the amusing things connected
with finance occurred when the New York
bank statement was issued last Sa;ur-
day. For several weeks the talent In
Wall street had been shouting vocifer-
ously that money was exceedingly hard
TO get, and that about the only thing
in the way Of a quick rise in stocks
was a loosening of money. with which
TO buy them. When the bank statement
came out Saturday II revealed the fact
that IN one weeks time the associated
institutions Of Gotham had increased
their loans by the significant sum OF
$4,000. or course none of the brokers
who help 70 form financial sentiment in
Wall street knew anything about where
The money had gone, but il was notice
able yesterday that all the Wall street
organs. contained very cheerful utter
ances about the condition Of the money
market. as reflected in the bank state
ment of Saturday
There was not however, a very per
ceptible rise in stocks, showing that
there is a small reason back of the mon
ey market which is the controlling factor
In Wall street at the present time The
great brokers are not quite through shy
ing bricks into the White Lot and upon
the lawn OF oyster Bay
COTTON MARKET.