Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-07-10
LOCAL FINANCIAL NEWS.


Gas Light Company continued to be the
feature of the local stock market today.
and under well-suStained buying the
price advanced from yesterdays close
G9a4-to 7Oh and 70A, and sixty day OPP
tions brought 7Oh. On the floor of the
exchange the coterie of younger bI okers.
who have been most active in taking
practically all offerings in the issue did
not hesitate to predict that the end is no
where in sight and that Gas will soar
materially above existing figures
Speaking privately, one broker, who is
said to be on the inside" in the present
movement, even ventured the statement
that Gas will cross Capital Traction, and
when the extreme optimism of this decla-
ration drew a quiZZical smile, he terminated
the interview with the injunction: We'll
you may just watch developments and see ;e
how far away from the ultimate results
this prediction proves to be-. Capital
Traction quotations today were 127s and
12S!14. and. even discounting possible
drop in that security. Gas must climb
steadily to reach and pass the 120 level.
One of the younger brokers who has been
operating extensively in gas for some time
past took everything In sight around 20
this afternoon and closed the days business
by Offering $40 for any part of 5000 shares
On direct sale today total OF $50 shares
changed hands. and options were offered
and accepted on 300 additional.
A letter from secretary w b. oTIIe VI
the Washington Gaslight Company to
the officers of the stock exchange was read.
follows:
BY order of the board of directors Of
this company. the usual quarterly dividend
will be paid on the capital stock August l.
1907. to stockholders of record July 10,
1907. and the stock transfer books will be
closed from the evening of July Is to the
morning of August /.
Mitchell Mining remained practically I'M
changed, and the only tran: action today
was the transfer of sixty shares at 81.
For tie first time In many moons the call
of S. p. Service Corporation brought forth
a buyer. and the sale of fifteen shares is
shown by the record.
The directors of the Washington Loan
a. q Trust Company announced by letter
to the exchange today that the SiXtieth
regular quarterly dividend of IL per cent
on the capital stock has been declared, pay
able August 1. The :tock transfer books
Of the company will be closed from July
The Russo-Chinese Bank has engaged
81 .dOOO0o gold for export to Paris tomor
row. This makes the total outgo since the
present movement began s2S,o5O.OOO.
London settlement began today, and quo
tations are now for new account.
Today's downward movement began with
London selling. and there was heavy
supply of stocks by the bear traders. One
firm alone sold over 2D.OU shares.
The borrowing demand for stocks is not
large. Inquiries are made for the actives.
but the demand does not show a big short
age 1t is thought in some large offices
that there is demand privately. At any
rate. every good authority declares the ex
istence of fair shortage.
The banks yesterday last $431 600 in their
operations with the subtreaSury, but for the
week they have gained s'S2.0OO. which COM
pares with the gain in the preceding week
of $685.. COO. The subtreasury is debtor at
the clearing house this morning in the sum
of $40. $50.
Heavy offerings of stocks were made by
the room element this morning at the open
ing. Most of this was, of course, short
stock Gossip the board was bearish
and the board crowd will sell on all strong
spots for the present.
The proposed consolidation of the United
States Leather Company has been enjoined
All sorts of rumors circulated today con-
corning the Union Pacific subscription. 1t
Is taken for granted now in most large in
situations that subscription is failure
more through lack of money than inclina-
ton
Copper stocks in London demoralized,
toS
Japan will not raise any public loan
during the current fiscal year terminating
March, 1907.
Expected offerings Of finance bills will
bring exchange below gold exports fig
ures II time money hardens.
Long Island earnipgs-May, net in
97s. .
Regular semi-annual dividend on Nash
Vile and Chattanooga.