Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-05-14
LOCAL FINANCIAL NEWS.

at the meeting today of the Stock Ex-
change was not surprising to observers
of the market, as it was only contin-
uation of the movement In progress, Tor
several days. The stock of the Capital
Traction Company today easily held nrst
place, as what sales we're made were IN
advance over the best recent sale about
four points.
The range of the buying today was from
127 to 1905 while yesterday the bid was
125 at the close and the asking price was
1876 Today the bid at the close was l2st.a
and the asking price 131. But little stock
was attracted from its holdings by the
better figures. and as has been the case
with all the securities of this sort In the
late advance there seems to be only
limited amount on the market.
No special reason is assigned for the
higher levels reached in the case OF Capt.
tai Traction stock. except the belief OF
those interested in 1t that the stock should
be near. If not quite up to. the level Of a
anything in the recent theory by which
the slowness in the recovery from the late
panic level was accounted for as due to
the fact that a large block was hanging
over the market, then. 1t Is said. 1t may
he concluded from the present condition
that such a block has been disposed of.
The preferred stock Of the Washington
Railway and Electric Company sold at the
best figure thus far reached In the pres
ent advance-namely, S3A, and then the
bid advanced to 81. with offerings an
eighth of a point less than IS. The change
in the figures as compared with those OF
Yesterday amounted to nearly point In
the case Of the bid. After call fifty shares
sold for SA
Nothing was done in the common stock.
and no change of consequence was made
in the quotations.
In the bond list there was a good de-
mand noticeable and at better fgures:
The near approach of the interest period
in the case Of the Washington Railway
bonds is taken into account in connection
with the advance. An inquiry was also
made for the bonds of some of the SUD-
sidiary companies. and 80 was bid for the
Anacostia IS and 80 for the City and Sub
urban IS.
one of the Capital Traction !! per cent
bonds sold for 111% and then the bid was
an eighth of a point less for more
In the way of buying and selling in the
list of bank and trust company stocks
nothing was done that was of special
consequence. 1t was announced today
that. as stated in The Star yesterday
would be the case, the deal for the
sale of controlling interest in the Ma
tional City Bank had been concluded by
the signature of majority Of the stock
nOIOeTS 10 Tie agreement VI Sdlc. ~ 40
expected the details OF the transfer will
be completed in a short time.
P. A. Drury. president of the National
City Bank. will retire from the presi-
dency of that institution as soon as the
transfer of control Is made. as he says he
has found that his other interests are
such that he is unable to attend to the
duties of such position without the sac
ritice of his business. He will continue
as director. It is supposed that f.
vayhp jc hA
of the Union Savings and the Washing
ton Exchange Bank. will succeed Mr..
Drury as president of the National City
Bank.
There appears to be quite good deal of
inquiry for the stock of the National Saw
ings and Trust Company at present prices,
at least that Of the bid level. which is
1877 But few transactions in this stock
have taken place on the board. but 1t is
changed hands privately at about 1913 and
even higher.
1t Is supposed that the earnings Of the
ment and that is the explanation given by
ment. Outside of that circle. however, the
intimation is given that there Is a posi-
bility OF an increase In the dividend from
6 to 8 per cent. but even those who hold
to such an idea say they do not think 1t
will be done very soon.
The stock of the United States Trust
Company sold today for 98 which repre-