Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-11-10
LOCAL FINANCIAL NEWS.

The feature OF the market at the meet
| ing of the stock exchange today was the
securities of the traction companies. An
other upward step was taken, and as has
| been the case all along. since the rise has
| been in progress comparatively little STOCK
| came out. The inference generally drawn
| from this is that the advance has not, as
| yet, been sufficient to start proft-taking
movement
1T is also said that what buying there
| Is comes from investment sources, as IL
is claimed there is but slight increase in
the demand upon banks for loanable funds
growing out of market needs. In other
words, market observers have come 10
the conclusion that speculative ouylhs
has not yet set In
1t Is also said that such view has
further confirmation In the course or the
trading in such an instance as occurred
today. when the Washington Railway ana
Electric Company's common stock was
called and bid was made OF 3SA TOT
1000 shares.
The stock was not forthcoming in such
a block. and there was no offering MADE
at any price. 1t appeared to some there
was not that quantity in the market az
current rates, and the same inference IS
made in regard TO some of the other Sc
curities.
The course of the market in traction
securities today may be briefly summar-
lied as follows: Washington Railway
bonds sold at S5lz an advance over
yesterdays figures Of nearly point
Capital Traction stock. sold at ls3. an
advance of over point; Washington
Railway common stock, sold for ~ ana
the bid for 1t ran up to $685.. the latter
being nearly point better than the pest
selling price of yesterday. The change
in the case of the preferred stock was
not as pronounced, as the bid for TO-DAY
reached S9A and the asking price was
500.
In the case of gas stock the decline
which has been going on for some days
was continued and the downward prog
ress registered about half point. one
of the brokers said he was going to sell
one hundred shares and he took the lot
on his bid, which proved to be the best.
namely, 63. A block of twenty-five shares
was also sold at 631s At the close the
bid was 6S and the asking price half
a point in advance. Yesterday the figures
were 631a bid and 637s asked.
Something of a mild sensation was
caused when Mitchell mining stock was
offered as usual at Y. and broker
1t. He at once renewed the bid at that
level, but the holders of stock seemed
to become wary all at once and refused
to let any more go at the price which
has been current in this stock for some
time past.
After the stock had been passed the
buying broker explained his action by
saying the stock was selling today In
New York at ", but he apparently did
not know why. The closing figures Tor
the stock were u bid and " asked.
good deal Of the stock of the COM
pany is held in this city. but the hold
ers have not been Of late very cheerful
over the outlook for the company, and, in
fact, there has been nothing done thus
far. within general knowledge. to get the
company once more in a position so that
there would be some prospect OF resum-
ing operations at the mines, which are
located in Mexico.
At a meeting of the directors of the
United States Trust Company yesterday
the election of officers, which had been
postponed, was held and resulted in the
reelection of the officers with Bradley H.
Davidson at the head, as president Of the
company. Under the change made in the
time for holding the annual election Of
directors and officers of the company
such an election will be held on the
second Tuesday of January next. 1t is
understood there is no prospect at pres
ent of a change in the personnel of the
officers and that Mr.. Davidson will be
continued at the head of the company.
At stockholders meeting of the Realty
Appraisal and Title Company the follow
ing directors were elected for the ensuing
year: W. ]. Newton, j. B. Winner, John
A. Hamilton. E. M. Gillett Mason N.
Richardson Walter H. Acker. Harry w.
Davis. D. S. Jackson, E. Lodge Hill.