The Washington herald., 1907-12-27
RAILWAYS GO HIGHER
Better Feeling Pervades the
Local Exchange.
MONEY IS MORE PLENTIFUL
Four Per Cent Bonds and Preferred
stock OF Washington Railway and
Electric Company in Demand.
Brokers Bay Bank Shares-Treas-
AIRY May Call in Loans.

While business on the Washington
Stock Exchange yesterday was not large.
there was evidence of good feeling among
the brokers that could not be accounted
for solely on the ground Of a happy
Christmas. IL is becoming apparent that
money is a little more plentiful. and the
members of the exchange, and their
clients on the outside, are casting about
for opportunity 10 make some more
money out Of the little they have.
The point OF attack is the bonds and
preferred stock Of the Washington Rail-
way and Electric Company. There is a
widespread impression that these securi-
ties viii rise within the next thirty days.
II for no other reason than out OF COM
pliment 10 the strong board Of prominent
business men which it is expected the
stockholders viii elect about the middle
OF next month. All talk of a contest on
the part OF any coterie of stockholders
70 seek control OF the affairs OF the COM
pany has now ceased, and the harmony
OF action anticipated in getting together
the strongest possible board Of directors,
who will manage the company for the
ture. beats the getting together Of the
clans on the eve of an important po-
litical convention
Railway Bonds I'm Demand.
Yesterday there was a strong demand
for the per cent bonds Of the company.
and one-half OF a slzable block Of them
that has been for sale several days was
~ fF a.
sales. For more OF the bonds wanted
the holders asked 70. and there were no
takers at that price. though il is ex-
pected that the bonds VIII command that
price or better before the new year is
one week Old
There was also a strong cau for the
prefe. I'd shares. and a small lot was
bid in at 6i7-S, with the asking price
az st.
The brokers. not being able TO get
either the bonds or the preferred shares
Of the railway company, turned their
attention 70 other things. Fractional lots
OF bank shares We're picked up. a few
shares Of Mergenthaler. and Mitchell
Mining strengthened a biz 20 ga and rs
The trading showed a disposition 10
buy good things az good prices and
that is what has been chiefly wanting IN
the operations OF the exchange since last
September
Uncle Sam Wants Money.
Uncle sam. like the rest Of America, is
taking stock Of his currency on hand. As
FAR as actual cash is concerned his
Treasury somewhat resembles the pro-
verbal Christmas stocking after the chill
drens raid DE found yesterday a work
ing balance Of trihe over S2,00e.000. But
the resemblance stops right there He has
much money available on deposit in ma
tional banks. and It amounts TO seas SO, =
20.
There is a strong impression that part
Of this money viii be called in before
long. II had been the intention OF Sec
retary CorteIyou. when the Panama bond
and certificate OF indebtedness issue was
IN contemplation. 20 apply the proceeds
10 Increasing the TTeasUrys working bal
ance- The demands Of banks for cur
rCncy became so emphatic. however. that
almost all this money. totaling $40.000,D00
has been left in those banks which have
utilized the issues for taking out increased
circulation.
The revenues Of the government this
year nave not only been falling OF, but
the expenditures have become heavy, and
Treasury officials DO not see, at this
time, where necessary money is 10 come
from to keep the government machinery
IN action, unless some of the national
banks find it convenient 10 return some
OF the money that they found so necessary
during the summer and fall Financial
conditions are believed 70 have so i'm
proved that inconvenience is not expected
when these Withdrawals are made.