Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-03-06
LOCAL FINANCIAL NEWS.

One of the brokers at the meeting today
of the stock exchange wanted to buy an
option on 1000 shares of the common
stock of the Washington Railway and
Electric Company. He was willing to
give 10 at the start. and another broker
was willing to sell such an option at "a.
The bid advanced to 1917 without result,
and finally the original bidder said he
would give 20 for an option on 800 shares
and another broker expressed his willing
ness to take a similar lot on the same
terms.
At the same time the bid for a quota
ton lot of fifty shares was % and the
asking 21k There was nothing done, and
while a good deal more time was spent
on the preferred stock the record of the
transactions for the day was not mate
rally enlarged. The desultory trading in
the latter was on a range of 6SA to g.
After the traction stocks were passed
there was not enough interest displayed in
the balance to produce much business. AS
usual the bank and the trust company
stocks, to say nothing of the copper
stocks and the typesetting machine stocks,
were passed. although it is pointed out
that these lists contain some items which
ought to prove attractive to investors.
The record of sales, while not long
one, still covers more completely all
classes of securities listed on the ex-
change than has been usual in recent
days. and this may mean that more at
tention is being given to the opportunities
afforded by the entire range than to the
comparatively few in what is commonly
looked on as the active list.
The change in the transfer office for
the stock of the Washington Railway and
Electric Company from New York-or
rather, Jersey City-to this city is another
move in the direction toward completing
the 1ocalization of the management of
the system in line with it's local owner
ship. In this respect the course pur-
sued by the Capital Traction Company
is followed when that corporation few
years ago did exactly the same thing.
In the case of the securities of cor
porations held as largely as those of
the two mentioned in one locality but
little interest is shown I'm them In the gen.
eral market. or probably they are over
shadowed by the securities that have a
national reputation as we'll as national
scope. At any rate there was never
much business done in the securities Of
either of these companies in the New
York market.
There will be less delay, it is claimed
In making transfers when certificates can
be taken to the agent i'm this city, which
is to be after June 1 the American Sc
ny anu AiuSl Noihpdly. Inc Union
Trust Company, in connection with the
latter. is the transfer agent of the Capital
Traction Company, and the general sup
position is that the change which is to
take place in the management of the
company next Wednesday. when, it is ex-
pected. George f.. Hamilton will be elect
ed president. will also be followed by
transfer to the Union Trust Company of
portion. at least. of the banking ac-
count of the railroad company.
The chanpa in the mana of tho
washington Railway and Electric Com
pany recently made has resulted in a
shifting about of it's deposits, or, rather,
dividing them up so that the institutions
represented in the new management would
have portion of the banking account