Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-07-28
LOCAL FINANCIAL NEWS.

The trading in the common stock of thu
Washington Railway and Electric Com
change today reached proportions tina,
have been unknown In the market FOL
many months. No less than $40 share.
were recorded in the transactions
There was not a single share sold dur
ing the call. Then the bid advanced from
20. which was the recorded bid Of yes
terday. to 81, and also during the time
the stock was before the exchange the
bid rose to 1914 for 80 shares and 80 fol
loo shares. But there were no sales
proceedings after the call explained the
reason.
At that time the bid ran up to "a. ant
passed 1t. and not until 34as was reached
did the broker get any stock. 1t then be-
gan to come out under the stimulus OF
the higher figures, until the broker had
gathered in from various sources about q
thousand shares at prices ranging from
34A to 30.
The latter level represents an advance
over the recorded bid of yesterday OF
about six points. and the entire transac.
ton was regarded as confirming the view
of the market held by some observers
that there was no stock of this or any
other kind for sale at the then prevailing
| range of prices.
The signs of business improvement and
of growth are increasing. as witness the
announcement that the new orders re-
ceived during the present month by the
current month is the best of any such
period since the late depression.
There is another indication. and that Is
the better demand from the consumers
Of copper, so that product Is now selling
at the highest price reached in months
mast There is now talk among producers
of accent copper before the close Of next
month.
It Is anticipated that upon the return
which will occur soon. that reorganiza-
ton of the Gould lines I'm the east will
be agreed upon and that the interests
represented by Kuhn. Loeb & Co. and f.
H. Hartman will become identified with
these properties. 1t is conceded that
such an arrangement will involve the
elimination of Mr.. Gould as the one In
absolute control. although, It Is thought
he will continue at the head of the Gould
system.
A feature Of the New York market that
attracts attention just now Is the continu-
ance Of the bond buying movement. which
of course largely belongs to the invest
ment section of the market as distinguish
ed from the speculative. While there are
evidences of manipulation. still in the
main the enlarged volume Of buying and
at better prices shows the tendency Of
unemployed capital In seeking investment
The controller of the currency reports
that Their ar 1882 national banks In his
country with a capital Of $4,000 or more
whose surplus and undivided profits equal
or exceed their capital stock.
In one bank In New York city the capi-
tai is million and half. while the sur
plus and undivided profits are seven mil
lions.
The reports Of railroad freight rates re-
ceived by the interstate commerce COM
mission show some advances made by the
roads operating in the territory south
Of the Ohio and southwest of the Missis-
sippi. 1t Is stated that If general increases
are shown the commission will. on its
own motion and without waiting 70 form
al complaints. make an investigation to
determine whether or not the advances
are justified.