Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-01-13
HEARD ON CHANGE

There has been no unusual improvement
in the volume of business on the local ex-
change or any revival of interest on the
part of the public in the securities listed on
the exchange since the opening of the new
year. 1t was supposed that after the set
Elements on account of interest and divi-
dends due about that time were effected
that then money would be easier and there
would be a revival of interest in the market
The first condition has come about. but
it has not been followed by the second in it's
entirety. There is no doubt about lower in
terest rates for loans in New York, and it
might be inferred that now the attrac-
ton that is said to have drawn money to
that center from all portions of the coun-
try in order to get the high rates no longer
exists that the supply at all points outside
of that center would be larger at this time
than was the case a week or SO ago.
On the supposition of abundance of
money in the local banks available for loans
1t might be concluded that something would
be done on the local exchange. The fact Is
that nothing has been done. This situation
is accounted for by some by the explanation
that the banks have too much of certain
lines of securities placed with them as col
lateral for loans According to this view
there is a Discrimination to increase the hold
ings of such securities and what is needed
are new buyers who have money or who will
not depend on local banks for assistance in
carrying their purchases.
1t is also thought that some Of those at
the head of financial institutions are some
what uncertain as to the outlook generally
speaking, and such a consideration is said
to influence them in their policy Of taking in
new business. 1t is of course not known
exactly what is expected to happen in the
financial or business world by those who
are trying to see into the future, and while
1t may not be possible for those in business
here to see very clearly the course Of the
general market, such is not the case in re-
gard to the outlook locally.
1t is quite certain that the conditions
which have given Washington such prosper
GUS times have not as yet passed away and
a continuance may be confidently expected.
AS long the stream of money from build
ing enterprises which are going on here
both under public and private direction con-
tinues to flow into the channels of local
trade, there is but little chance Of stagna
ton. Then, too, there is no reason to sup
pose the population of the city will not con-
tinue to increase, making it necessary to
provide more living quarters as We'll s
business facilities.
If Congress enacts the legislation which Is
proposed, namely, to increase the pay of
employees of the government 1t will not only
be doing justice to salaried persons whose
pay has remained stationary while living
expenses have gradually mounted up, but it
will have a wholesome effect upon the bust
ness of the city in all It's departments How
ever, there appears to be put little hope en-
tertaned that anything of the sort will be
done at the present session of Congress
According to the general impression which
prevails among those who are interested in
the local stock market, the measures now
pending in Congress providing for universal
transfers on the street railroads of the city
and for reduction in the price Of gas are
not likely to receive final action at this
session.