Evening star., 1909-05-01
LOCAL FINANCIAL NEWS.

Some of the securities on the list of the
Washington Stock Exchange that do not
ordinarily figure very much In the daily
transactions nor change materially In
their quotations from time to time, came
into the active class today. at least as
far as an advance in the figures con-
cerned.
One OF these was the stock OF the Bell
Telephone, which sold at 1O7, two points
higher than the best figure that has ever
been paid for this stock. There was no
further offering Of the stock at any price
after this sale. although the bid remained
at 1O6h, AS compared with 1O8k. which
was the bid at the close yesterday. But
even at that time no stock was offered
for sale.
There seems to be no particular expla-
nation Of the change, except that rs a
per cent stock 1t Is regarded as being
worth more than the current figures. and
the advance made today is In accordance
with that theory. It Is thought II will
continue to approach a 5 per cent basis,
the latter being 40.
Another change in figures that rather
astonished the brokers was an advance in
the bid for the stock of the National Saw
ings and Trust Company. for which 302
was bid yesterday and 21O was saked.
Today the bid ran up to 21O without re.
suit, and although this bid was with
drawn and 100 was substituted for 1t and
the asking price was then 2O5. still that
did not change the record Of the oppor-
tunity given to the holders Of the stock
to sell at the higher figure.
There Is no indication given of an in
ton among the stockholders of the earn
ings, but still 1t is felt that the general
business Of the company and its condition
warrant better figures for the stock.
The Union Trust Company stock sold to
the extent Of twenty shares for 1341s and
the bid advanced an eighth Of a point, but
the lowest offering was then 1885,
Ten shares of United States Trust Com
pany's stock sold for 1O5. which is the
best figure padd for the stock up to a day
or so ago. when a similar transaction was
recorded. The bid was then an eighth of
point below that level, as 1t was at the
close of the trading yesterday, while LAe
asking price was 1O6.
The notion appears to be quite general
In financial circles that If the business OF
the company continues at the present
rate by the beginning of the year It will
be possible to declare a Semi-annual divi-
dend for the preceding six months at the
rate OF per cent per year. It is claimed
by that time the company will have a sur
plus of about 100000 and that its net
earnings will not only be sufficient to pay
the dividend. but also to add to the sur
plus.
But little interest was shown In gas
stock and no response was made to an in
quiry as to what would be given for an
option on the stock. The downward
movement which has been in progress
practically ever since the declaration OF
the extra dividend OF 81 per share was
not checked today. Sales were made al
70. which Is from point to a point and
a half less than the selling level of yester-
day, while the closing quotations OF 695!!
bid and 20 asked showed a corresponding
decline.
The only bid for large lots such as one
hundred shares was made by broker
who said that he would give 6S for such q
lot and for further similar lots on q slid.
ing scale downward of point for each
lot.