Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-10-06
LOCAL FINANCIAL NEWS.

There was quite demand for numoer
of securities on the list. more especially
brought out by the bidding after the call.
at the meeting today of the stock ex-
change. Those having orders to I'LL were
as rule willing to give the market price
and perhaps little bit under. put the e
volume of the trading was limited by the
fact that no one was willing to sell at
such prices
A ten-share block OF the stock Of the
Second National Bank sold at 14s1s and
five shares at l49 and the buyer of both
lots raised his bid up to 149& for ten
shares more. but the lowest offering was
$50. and a couple of lots were to be Lad
at that price. Yesterday the bid for the
stock was las and the asking price l4'.
The fire insurance stock list was passed
over with but few changes in the figures re-
f1ecting the slight interest that has been
manifested in this class of securities for
some time past. While these stocks are
good dividend payers they have not been
among the active securities of recent
years. and 1t Is thought that the present
conditions Of the insurance business In
this city is not favorable for revival
OF public interest In them.
The lack of agreement among the var
ious companies, both local and foreign, as
to rates is believed to be affecting the In
come from the business. especially for
what Is known as commercial risks 1t is
the companies themselves take hold and
undertake to form an association.
1t Is thought that when the annual re-
ports are made of the business done here
during the year the showing will lead to
some action, as 1t is believed the earnings
OF underwriting in the District on COM
mercial business will not compare with
those of last year. After the first of the
year the annual reports will be completed
and then 1t Is said something Is liable to
be done toward bringing all the compa-
mics into an association for the purpose OF
making the rates uniform.
A large stakeholder of the Lanston COM
pany is responsible for the statement.
Which he claims is from the best author
fty. that by April next the payment Will
be completed of $3.50 600 borrowed by the
company from the directors to discharge
the Indebtedness on the purchase of the
company's plant in Philadelphia. At the
annual meeting in April 1t is expected by
this stakeholder that a dividend viii. be
declared, and it is presumed that this will
the payment of which has been suspend
ed since last fall.
The volume of freight traffic over the
improvement last month over that Of the
preceding month. 1t is expected by the
railway officials that the business for the
current month will exceed that for Sep
teHDcr dIter the HTSt shipment VI WHEAT
then comes corn. followed by a second
movement of wheat and also other grain
The decline in the business OF these
roads reached its lowest point in April
last. and since then the trend has been
upward.
This increase in the traffic Of the gran
ger roads. as we'll as the general improve
ment affecting all roads. Is believed to
reflo~ the upward course of the general
business recovery during the past few
months. The decline In market prices of
securities which occurred last month Is
attributed to the political campaign, and
especially that phase Of 1t which was
termed "a Bryan scare"
The influence of this sentiment Is now
reported to have subsidized. and now the
threatening aspect of the relations between
the European powers is having an effect
on prices. The conservative interests are
inclined to be skeptical that the present
situation will end in war, but they recog-
nize that the uncert ainty may continue to
havo an unsettling effect on the market.