Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-03-13
LOCAL FINANCIAL NEWS.

The general condition OF the focal stock
market was illustrated in way today by
the result of efforts to sell some of the
common and the preferred stock of the
Washington Railway and Electric Company.
One lot Of fifty shares of the preferred
seemed to represent the entire amount that
had to be sold. which went foc 81, new
low record in the security.
AS compared with the bid price Of yes
terday the stock went of three-auarters OF
a point. 1t was evident, IL there had been
any mere stock that had to be sold. still
lower levels would have been reached. As
it was the bid was S1A, but the asking price
was IS.
While the local market has been and is
still Influenced by the tremendous uquida-
ton that has been going on In Wall street
and which, without including the decline OF
today, amounts to about twenty points on
an average, there has been but compare
lively little liquidation here-that Is, the
forcing on the market of securities.
Something of the sort evidently was done
at the meeting yesterday with sundry
blocks of the common stock, and the price
the stock was for sale, and a number OF
lots were taken at 30, and the supply at
that figure was not exhausted. 1t was evil
dent the selling was optional at that level
otherwise if it had been forced, still lower
figures would probably have been recorded.
The rest of the list gave no new indica.
ton of the general condition. A block OF
eighty shares of gas stock was for sale
and 591S was obtained for 1t without trou-
Bile, and the same prise was bid
for twentyve shares ,.as or n t for ea ape
ing except to substitute 59A for 60.
Gas stock has remained, as to its quota
tons, practically unchanged during all the
particular it ranks with the securities on
the so-called inactive list. such as the bank
stocks and the fire insurance stocks.
In general way it may be said that
most of the stocks at all active reveal the
prevailing state of the market by changes
Of greater or less extent in the quotations.
What the changes would have been II there
had occurred anything in the way OF
genuine liquidation 1t is, Of course, fmpos-
sible to say.
There are no indications of any attempt
to bear the local market. for such an eff
fort would not produce the hoped-for re-
suit in bringing out lot of securities at
low figures. The peculiarly of the mar
ket is that owners of securities seem to be
able to hold on until the market comes to
them.
1t is the expectation of the national
banks in this city which are repositories of
public money that they will get their
share of the customs receipts which. under
the terms of the Aldrich bill, are to be
deposited I'M banks just as is done with
internal revenue receipts.
The Secretary of the Treasury has also
the authority in his discretion to require
either government bonds or any security
that may prove acceptable to him. Under
the operation of the law which permits
the Secretary to retire national bank cir
culation at the rate of nine millions a
month, the banks retiring circulation will
have available the bonds which are de-
posted as security for the circulation.
An extra dividend of per cent has been
declared on the stock of Riggs National
Bank. The regular dividend is 20 per
cent year. In addition to this distribution
Of the profits. the sum of. 100000 was
added to the surplus.
Today's Government Receipts.
National bank notes received today for
redemption. $780, government receipts