Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-10-14
LOCAL FINANCIAL NEWS.

The improved tone of the general mar
ket was felt in the local stock market, OF
at least at the meeting of the stock ex-
change today prices recovered somewhat
from the low level of Saturday. and it
was noted as mark of improvement
there was less hesitancy about bidding
than was the case at the last session of
the exchange.
However, 1t did not bring any increase
in the volume of trading. for while more
confidence was shown IN supplying figures
for the daily quotations. there was not
much inclination to buy. There was also
but little inclination to sell, so that under
such conditions prices went back to levels
that appeared to be more In unison with
the prevailing ideas of values.
Gas stock sold Saturday for 74-that is
| a twenty 1ve-share lot which comprised
the entire trading in that security that
day. Today some OF the stock chanseo
hands at 70, and that was the asking
price when the trading ceased. Options
| were offered for u. but the bid remained
couple of points below that.
1t Is said by those who are supposed
to be pretty we'll posted that the appli-
cation to the court for an Increase In
the capital stock Of the company L. to be
made the next day or so. but there Is IN
certainty on the part Of the same au-
thortty az to whether the specific amouaa
of the new capital will be mentioned In
the application or the court will be asked
to grant such capitalization as the ap-
praisal value Of the property Of the com
pany will justify.
The patrons of the National Metropoli-
tan Bank, as we'll as its friends and the
general public, took advantage today OF
the Invitation extended by the officers and
board OF directors and paid a visit to the
new banking quarters on 18th street OPP
have Just been completed, were occupied
by the bank for the first time
In addition to the beauty OF the marble
and the bronze which form the principal
materials In the finish Of this spacious and
handsome bank, kowers were placed with
advantage so as to give sort OF gala
appearance which was in harmony with
the smiles and the happy faces of the ON
GERS and directors. who formed q recep-
ton committee.
The bulk of this duty fell. however.
upon Mr.. E. Southland Parker, who. as
president of the bank. came In for many
OF the congratulations which every one
felt were justly due as an expression Of
appreciation for the notable contribution
which the bank had made to the business
places Of the city.
An authority on financial matters in q
review of the past week points out that
while the prices Of stocks. both railroad
the year and money was in a stringent
condition, yet there Is nothing essentially
unsound The depression in Wall street,
he adds, has not yet communicated itself
to the greater part of the country. and
the business activity is still On a monu-
mental scale.
Moreover. crops of fair dimensions are
being marketed at high prices. and the
wealth of the country has materially in
creased during the whole period OF the
ten-month stock market decline.
AS a matter of fact. he continues, 1t
might almost be said that We are Just at
the point where there is a promise Of
turning of the tide. AS the area of bust
ness contraction extends. it must in
evitably produce a considerable slacken-
ing In the demand for money. and this
will operate to the easing up of financial
conditions, so that at the beginning of the
new year there ought to be a much bet
ter situation as far as Wall street is con-
cerned.