The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1907-10-08

Business on the Washington Stock Ex-
change took q new turn yesterday. and
bank shares led everything else. Metro
pOlitan National Bank was the leader in
point Of sales. and United States Trust
Company In point of price. The transac-
tions were $i.0a) in bonds and 800 shares
Of stock.
When il came TO the bank shares there
seemed 10 be plenty of money to buy and
prices were not considered long Nor
were any of tie brokers trying to hedge
on options. Metropolitan Bank proved TO
be one Of the features Of the day. The
directors have just announced the semi
annual dividend ca the stock OF per
cent and the stock Is really "ex-divi-
dend." The bank IS also about to move
into It's new structure. having set the
date OF occupying the new banking rooms
on October H.
Somebody offered ten shares Of the
stock at 306. and It was Immediately
snapped Up. Then some one wanted FIVE
shares, which was furnished al SOS The
broker who wanted the stock then bid
5Jb13, and raked In forty shares at that
price. That there was more stock on the
nooT became evident and when a broker
offered II az 500 IL WAS snapped up, with
the same price offered for more. u was
d surprised lot OF traders who had
watched this performance. and several
voted II one Of the most interesting cpl
sudes on the board FOR several days.
Had Orders to Buy Il.
Some speculation was current as 10 the
meaning of the transaction. but it was
explained later IN the afternoon 90 be a
case where there was a buying order
out for the stock, and the broker, know
ing it was fer sale. took it in at such
prices as he could command.
United States Trust Company stock was
again in good demand. Almost the same
tactics We're followed with reference TO
this Issue. a broker somewhat llstlessly
offered fifteen shares at So, not suppOs-
ing any one would take il. as the best
previous price had been 81. II was taken
as soon as offered, and the broker buying
the fifteen shares immediately after took
sIN AT par, ana several other offerings al
the same figure. The offer was then
made to take 100 shares at par if any
one would sell IT, Sixty shares. however,
seemed 90 Dee all the stock IN sight yes
terday, though fl is known that more of
the stock has been offered 81 times. az
private SALE around par. 10y persons de
slr0Us Of parting with shares which as
yet are not fully paid Up. II was pre-
dicccd yesterday on the street that this
stock Would in a short time rise few
points as 70 is thought % Doe worth more
than the price now bin upon the board.
The trading IN bonds yesterday was
confined TO washington Railway and
Electric As, sales being az fractions un-
der So
Gas Given Small Attention.
LITTLE attention was pald yesterday co
Washington Gas, though il comes on reg
Ular cali before the bank shares. and was
not affected yesterday By the excitement
81 those issues
1t was announced yesterday that Wolf
& Cohen. tie well-knOwB insurance brok-
ars. have purchased the business, good
Will Of the office facilities of the late
Henry Wells. who died recently in RhOGe
Island. The business of Mr.. Wells is To-
Gated ut 100 q street. where il has been
for several years, having been established
there by John B. Wight, prior TO the
time that De became Commissioner Of the
District While Mr.. Wight was serving
as Commissioner Mr.. Wells purchased the
business and conducted IL to the time OF
his death
The business Of Mr.. Wells viii be alb
sOrbed by Wolf & Cohen, It is said, and
the office at 1H0 closed The date OF the
transfer OF the office has not been de-
rarr1rfUaT