The Washington herald., 1907-11-08
STOCK MARKET DULL
More Liquidation Appears
on Local Exchange.
INSURANCE SHARES IN LEAD
Three Hundred shares OF Peoples
Company Bring SO Eaeh-Other
Trading In Odd Lots on Slightly
Declining PriceS-Bank TO open
About December 1.

The feature OF the market yesterday
on the Washington Stock Exchange was
the sale ot 800 shares Of Peoples Fire
Insurance at s. a share This price is
the one that has prevailed for many
weeks and months. and il would be dif-
hcult for members of the board TO recall
when there have been sales Of an equal
amount OF that particular stock. The
trade was too plainly one OF liquidation
OF some individual account to require
comment. That the stock was taken
readily in l00-share lots at S. Il share,
with the closing bid at the same price
shows the value set upon this security BY
the local brokers. Outside OF this trans
action were 62 shares OF stock and s., 600
In Capital Traction per cent bonds.
The trading was strictly in odd lots on
gradually declining prices. Merganthaler
selling in scraps from le6 down to ls5
Even the Capital Traction bonds. in
which there has been so much selling Of
late, reached 1i01k on sale, and 10 as
the Official bid price. with offerings az Ill
Railways Are Neglected.
The official bid oD Washington Railway
and Electric common was raised from
- to 2S.5o a share, and the Offering
OF the stock was reduced from $40 10 $55.
indicating that there is no disposition on
the part Of local investors % take I'd
the shares Of this company now either
for speculation or investment purposes
Ten shares OF the preferred stock brought
the regular price. $67 a share.
The effect Of filing the petition OF the
Washington Gaslight Company in court
has had no effect upon dealing In the
stock on the local exchange. Yesterday
Il did not even 90 on record with a bid
or offered price II this stock is 10 have
the phenomenal rise that has been pre-
dtcteG, brokers are evidently waiting for
better financial conditions or To learn
what Will De the probable fate OF the
petition when the facts are presented
In court.
The semijubilant feeling upon the stock
exchange apparent the day before was
lacking Yesterday. due probably 10 the
course the New York market was be-
ginning 10 take as the resul, OF unfavor-
able news from London.
Preparing to open Bank.
The directors OF the Federal American
Banking Corporation report that they are
making progress looking toward the open-
ing Of the bank for business about De-
cember /. At meeting OF directors held
yesterday. Samuel ". Cockrell was elect
ed a member OF the board. Mr.. Cockrell
IS young business man and he has made
a good record for himself as secretary
and treasurer OF the Globe Life Insurance
Company and the Employers Mutual
Benefit Association. Clifford NJ. Stoy. who
was employed with the Second National
Bank and later cashier and general mana
ger Of the rent department Of the Moore
q HiA Company. was elected assistant
secretary.
The directors are making a special fea-
ture Of the advisory board. and have in
terested number Of active business men
In the bank and have elected them as
members Of the advisory board. Their
names follow: Mark W Moore. president
and general manager Law Reporter Com
pany; Arthur C. Smith. OF Clarendon
Smith < Co.. feed dealers; d. J. Wilson,
member of SHINES Kelley Co. wholesale
gr0cers: c. W Rea, capitalist Of North
Carolina; George W Kreel, treasurer
town OF Culpepper. Va; James P. Toll
man, president Of the Tolman Laundry
Company; Arthur c.. Copeland. treasurer
Of NJ. 9. Copeland Company. awnings
flags and tents, and treasurer Federal
Manufacturing Company. James c. Boe
Of Boe & German, real estate dealers;
d. T. Croft. wholesale paper dealer: F. r
Kreamer, florist, and F. Russell FraYel
Of the Department OF Agriculture.