The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1908-05-24
SECURITIES FIRM
DURING PAST WEEK
Gradual Toning Down Into
Quiet Conditions PresageS
Summer Dizziness.

Washington stocks opened the week
fairly strong. and with a good invest
ment demand from many would-he buy
ers. The manner in which the market
has held its own for weeks and months
is gratifying to the holders OF securities
in Washington ventures, so much so
that the high range has only tempted
a moderate liquidation OF collateral.
Money is easy in washington, as II Is
everywhere else Just now, but the trans
actions on the local exchange are more
Investment than speculative, and nearly
all on orders.
Starting very strong, and gaining
Roadway for the first two days of the
week. the market has gradually toned
down into a quiet condition. presaging
the coming of the summer dizziness,
when trading VIII naturally be on a
very limited scale.
Traction Companies Earning Dividends.
The passage of the measure giving
the local traction companies the right
to run cars to and from the Union Sta
ton did not add anything tc the
strength of the stocks. The managers
thoroughly understood that &c was but
a matter of time when the patience and
lmpOTtUling Of the people would de-
mand the enactment of the measure.
The earnings of the companies viii be
somewhat enhanced, but not TO any ap-
preCiable extent The traction cOmpa-
MES are earning their dividends and a
surplus. and this IN the opinion of the
traders and members OF the exchange,
is warrant enough for tbs present
prices.
Most OF the trading was in the pre-
fegred shares of tie Washington Rail-
way and Electric preferred, Starting
little lower than s.. the market touched
IS, and a moderate amount of stock was
traded IN al that price Then after the
dividend had been declared and the
books closed, the demand seemed 10
ease of. with only occasional sales until
yesterday, when It sold at 8lh. and grad
Ually became firmer, advancing 10 So,
with the last sale II the week al -
just @ fraction under the high. Ihe
common stock sold at 1884 20 80, and was
held very firmly. At the close the In
side price was paid for IL.
Capital Traction sold az ~ but at
the close It was offered IT this price
with 127iA bid.
No Market for Washington Gas.
The interest IN Washington Gas has
sagged and the offerings of the stock
would be fair if there was better
market fCc il. The decline from 50 and
20 has been slow and has settled around
6lik and IS. The general expectation
that something was going TO happen,
stu exists IN Well-lnfOrmCd clTcieS. but
IS doubted by those who are usually
we'll posted. Perhaps an announcement
will soon be forthcoming The only
activity ir the rest of the market was
In bonds at S2la and SOS for the IS Of
the Washington Railway Company, ana
ulA for the IS Of tie Capital Traction
Company
Mercy" Lanston, and Mitchell have
sold moderately well on the quotations
of New York and Boston.
a feature of the week has bee n dis
tinctly better tone in bank stocks. in
deed this has been noticeable FOR some
time past. Commercial National, OF
fered AT 10 week ago, and very much
lower two weeks ago, Is now quoted
other bank stocks have moved UPWARD
National City Bank Moves.
The National City Bank deal ras be-
come part of history. and the Wash
ington Exchange Bank viii close its
career during the coming week, when
the National City will move over bag
anC baggage and take its place in the
Night Bank building.
The passing OF Cashier Chaplain from
the National City 10 the vice pTCsi-
dency Of the Commercial National, was
q speedy ana nearby change and this
probably accounts for the boom IN Com
ruercial National stock. Chaplain has
been busy man for three or four days
indeed, he has record for hustlinB.