Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-03-03
HEARD ON CHANGE

For some reason which was not at all
clear the public utility securities suddenly
toward the close of the week became OF
considerable more value than they had
been for some time past, at least as far as
the quotations indicated. In addition to
the change In the figures there appeared
to be quite a demand for some OF the is
sues. Ii was not exactly a falling over one
another in order to get them. or an i'm
petuous and reckless bidding without re-
gard to prices, but still the demand was
good. and especially so in the face of a
rising market and also when contrasted
with the listless Indifference OF recent
days
condition. but not many. and, as a rule, IL
must be assigned TO general causes among
which, according to the prevailing idea Is
the near approach of the end OF the ses-
sion of Congress. Whether there Is any
reason or not a number of those who are
In the market and the circle they influence
have fallen into the maitland 1t is quite
a recent one-of tracing out the influence
on the local market of what Congress may
or might or would do, much the same
course of reasoning or argument Is pur-
sued in the larger market of Wall street.
In this latter respect the local market
Is getting really metropolitan In its char
acter. and after a while, no doubt. asso-
ciated with this sort of what is called the
current gossip of the street will come
stories OF the plans and purposes OF some
of the leaders in the financial world. When
that result is reached then an account of
the local market and a review of its course
will read so much like what is sent out In
regard to the Wall street market that 1t
will be difficult to determine which of the
financial centers is referred to unless one
sees the head line.
In the meantime the upward movement of
Capital Traction seems to be at an end at
1i1. while the Washington railway stocks
hgure as being worth more than they were
at the beginning of the week
Gas stock has not yet reached the GO
NOTCH and for the time the meteoric course
OF Mergenthaler seems to be stayed. Lam
ston does not show signs of any awaken
ing. and, Mitchell Mining and Greene Cop
per are awaiting apparently for something
to happen.
While in brief and sketchy way the
above indicates something about the posi-
ton In the market of the more active
stocks on the list. yet the real difficulty
with the volume Of business in stocks Is
the absence from the market of people
who have real money that they want to ex-
change for securities When the latter
comes In then it may be expected that
something will be doing, and while, OF
course, there Is no sure way of determining
when that is to happen or whether or not
it is going to happen at all. still there are
those who incline to take a hopeful view
of the situation and see in the near future
a general upward movement all along the
line in the stock market.
To a certain extent such point of view
is largely one of temperament, and that
being the case 1t goes without saying there
are those who have quite opposite idea
of the market, but everything has been go
ing the way of such people for such long
| time now that they are not entitled to the
consideration they would otherwise have IL
there was more novelty in what they had
to say. -.. -r.'~-