Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-05-15
LOCAL FINANCIAL NEWS.

The interest at today's meeting OF the
stock exchange. during the CALL at least.
seemed to center In the bank stock ana
trust company list. The traction pubic
utility stocks. which have been the feat
ure of the trading for some days, stu
maintained that distinction to some ex-
tent. and there was also no falling on. OF
very slight difference. In the figures
quoted today and those Of yesterday.
Capital Traction stock continued. how
ever, it's upward course. and during the
call the bid advanced from 1851: which
was the level Of yesterday. to l3O WIN
the asking price at 131, but nothing was
done. However. after call forty shares
were traded in on range of from 40 to
13l, the latter being the highest price yet
paid in the movement that Is now 60
ing on.
active, although there was no EFFORT to
create a market by the usual method OF
Offering the stocks down.
The surprise Of the day was the demand
that developed for the stock of tine
American National Bank. 1t is true there
was only one buyer. but he didn't hesi-
tate to take the stock when 1t was offered
at the opening at higher level than
rise which was recorded yesterday.
He took ten shares as offered. at Ito.
and when the seller offered ten more
at $50 he took that also. The desire
OF the seller to continue to get an ad-
vance of Ave dollars per share on each
successive block of ten shares was evil
IDENTIFY not approved by the buyer, and he
therefore bid 11j and the seller offered
the stock at 1S5. and that was the end of
the trading.
Whether there is any special significance
in this movement Is not known. but 1t Is
said by those who are connected with
the bank that there are no plans for
merging with any other institution and
that the only explanation that occurs to
them Of this rise in the market figure
for the stock Is on account of the excellent
outlook for the business Of the institu-
ton.
The only other changes made in the
bank stock list were those in the figures
for the stock of the Commercial and the
National City. and in neither case did they
seem to be important. The bid for the
National City was 49, but there was no
Offering at less than 100, but before the
stock was passed the bid was withdrawn
and 145 substituted for it.
1t Is supposed the merging of this In
stitution with the Washington Exchange
will be completed by the first of July
and then the bank will be located where
the Exchange Bank now is and in the
same office with the Union Savings Bank
According to the current gossip of the
street. there is a likelihood that when the
building 14O5 G street is vacated by the
National City Bank 1t will be leased
by the United States Trust Company.
now on 14th street just north of street.
1t is also matter of common talk that
the buying of the latter stock. which
has been noticeable in recent days, comes
from some of the interests already large
owners Of the stock There were no
sales Of the stock today. and the bid was
96 and the asking price at the close
was 100
The buying that developed in the stock
of the Washington Loan and Trust Com
pany was strong at 1856. and four ten
share lots were taken at that price The
seller had some more at the same figure
but the demand appeared to have been
satisfied, and at the close the bid was
1874 and the asking price 100.