Evening star., 1908-02-03
LOCAL FINANCIAL NEWS.

Gas stock was perhaps the most inter-
esting phase of the trading at today's
meeting Of the stock exchange. The ad-
vance which was made to 691a in the bid,
when compared with the closing bid Sat
urday last of 67s. and the selling price
of IS on the. same day, shows an up
ward movement of over a point and a
half. This was accomplished without
bringing out much of the stock.
In fact. but two sales were recorded dur
ing the call, and each were lots of twenty
five shares. and the figures given were
'isls and 69s4. There seemed to be no dis
position to sell. and the buying demand
in it's extent at least was not tested.
Holders OF this security seem to be
willing to await developments.
After the call fifty shares of gas stock
sold for 90 which is the highest figure
attained in the recent advance
The annual election of directors was
held today and the members of the
board were reelected as follows: John
X. Mclean, George T. Dunlop, John Nell
benny, Richard II. Goldsborough and Mil
ton E. Allies.
Nothing of special interest occurred in
the railway stocks. A slight decline took
place in the figures for Capital Traction,
while the securities of the other systems
remained about on the same level. The
annual report of the latter company to
Congress has been made, but none of the
brokers have as vet seen ii, and therefore
there is not much heard about the show
ing which the financial statement OF the
affairs of the company makes.
1t is believed from what is known of
the figures as printed in the newspapers
that there was an increase in the net sur
plus of the company as compared with
that of the preceding year. Such a show
ing was expected in view of the growth
of the population of the city and the in
creased business that the company must
have done both in the railways and the
electric lighting.
8 o'clock the Bankers Association of this
city will meet and in addition to a pro-
gram of interest which has been prepared
for the occasion there will be further
attraction owing to the fact that this
will be the first time the representatives
of the financial institutions of the city
have had chance to come together in
social way since the late panic.
According to an authority in the finan-
sion that the industrial depression re-
sulting from the panic is touching its
extreme low pofrt during the current
quarter of the year. In the iron and
steel trade. which 1T is stated. is SO
excellent a barometer of general busi-
ness conditions, there is a strong feel
ing at present that an improvement
will soon set in Already the steel men
can begin to feel the country pulling
trif1e for steel products. and some of
them are confident that the spring Will
bring about a considerable recovery to
the normal point. This would in its
turn, it is thought, increase the traffic
and the earnings of the railroads. The
action of the steel men in voting
against any concessions in prices is in
line with this theory.
The outlook for a quick recovery in
trade conditions. it is further stated.
would be much more promising if 1T
were not for the political develop
mentS.
The financial conditions continue to
improve. it is said, money is accumulat-
ing in the banks and the rates of in
terest declining.