Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-04-13
LOCAL FINANCIAL NEWS.

The buying that took place in the COM
mon stock of the Washington Railway
and Electric Company was the main feat
ure of today's trading at the meeting or
the stock exchange. Altogether some I'VE
hundred shares OF the stock were sold.
and mainly to one buyer. He secured the
first lot of fifty shares at 2s1s. which was
the price paid Thursday when the last
sale was recorded in this security. He
then paid 20 for 200 shares and 30 for the
balance and then the stock was offered
at 81. and finally at 3o1z, with the bid
at %.
Saturday the bid for this stock was q.
and the asking price was p. One OF the
brokers remarked that he had no more
stock for sale at the current prices. but
he found an old order in his book TO sell
fifty shares at Sop The principal buyer
remarked that he would he able to find a
market tomorrow. The advance In the
price of this stock and the comparatively
small amount that has come out on me
rise indicates that there is either very lit
tic stock for sale on those levels or else
the holders are convinced that IT is going
higher and are awaiting for the better
market.
The rest of the list was passed over with
but scant attention. which seems to be the
custom with the exchange of taking up
some specially and rushing it and then
going to something else. 1t is the eNcep-
ton rather than otherwise when any one
DAYS trading shows sufficient breadth to
take in the entire list or even fair pro-
portion of it.
The tendency of the market for some
time has been to give prominence to the
traction stocks. and those who are not
interested in these securities rather re-
sent the attention which is given them
to the neglect of others. as they think.
But that is the habit of this market. and
that is about all that can be said about
it.
1t seems strange however. that SO little
time is given to other securities. as for
example, those in the bank list. But they
are not attractive. apparently. unless
sonnet thing is going to he done outside OF
the ordinary. such for example, as the
merging Of two institutions. increase
i'm the dividend or an enlargement of the
capital stock. or something else that
makes It profitable to own the stock over
and above the return which the annual
dividend affords
But of late there has been a dearth of
even gossip relating to such matters. al
though a few weeks ago there was quite
stir over the talk of the bringing together
of two national banks. but nothing came
of 1t. 1t is not expected there will be any
attempt made in the near future to en-
large the scope of any such institution
here. or even to increase the number.
it is now believed the limit in the latter
respect has been reached.
However, such belief may he suddenly
dispelled. as it is evident there are those
who do not size up the situation in the
same way. A real estate broker said
few days ago he had an inquiry from a
large New York bank to look up some
good location here for a proposed branch
to be opened in this city. while g. charter
has been asked from Congress to estab
liSh here a trust company.
From past experience we are certain
that sooner or later Wall street will begin
to discount the rally from the depres-
sion of 1905" says the Wall Street Jour
nal today. What we do not know and
what cannot he found out is when it
will begin thus to discount the recovery
and just what will produce the turn in
the tide.
We do not mean that the present rally
in the stock market Is the turn in the
tide. We do not believe that any one
can say that it is or that it is not. The
chances are, In fact, that it Is merely a
rally in the large bear swing. rather than
the real beginning of a bull swing
ut is felt that with money steadily
growing easier and with the crop outlook
so encouraging. there can be only one way
for the tide to drift