Evening star. [volume] (Washington, D.C.) 1854-1972, 1909-04-08
LOCAL FINANCIAL NEWS.

The supply of gas stock At today's
meeting of the stock exchange was evi.
IDENTIFY greater than the demand. while
quite the opposite condition was noted in
the case of the stock Of the Capital Trac-
ton Company and Of the National Metro
politan Bank.
AS a result apparently of this situation
the price of gas stock went of while the
other securities went up.
A couple of brokers appeared to have
for sale quite a block OF gas stock. But
the demand was not strong enough to
sustain the figures even on yesterdays
level. which was q lower one than has
been recorded for some time. The first
sale was 7O11. an entire point below the
lowest selling price OF the day before
Then a couple Of hundred shares were
taken at 20. several brokers appearing
as the buyers, and the selling went at
such a rapid rate that 1t was. difficult to
keep track of the transactions.
The bid fell to 60. and one twenty-five.
share lot was taken at that figure. and
then to 6SA. with the asking price at 69h2.
A bid of IS was made for 100 shares,
which seemed to act as a check on the
downward course of the stock. and ap.
peared to steady the market 1t that
NOTCH II the buying was covering OF
shorts. as was intimated. then that
seemed to have been accomplished. One
Of the conservative brokers gave notice
that he had an order for 1000 Shares At
60. which he was ready to I'LL a. soon a.
such a lot was to be had.
There was no offering of such q lot or
of 100 shares, and the trading was not re-
sumed after the call.
An order for about 100 shares Of Capital
Traction stock. or rather the filling OF
advance
the price of the stock to 134. although
yesterday 1t was offered at 1881. with the
bid at 1921. The range Of today's buying
was from 1884 to 134. and at the close
the bid was 1881 and the asking price
1t was evident that even at the higher
figures there was not much stock for sale
but that is not an unknown experience IN
the case OF this security.
The seal of approval of the recent
transaction by which the National Metro
politan Bank turned the former Citizens
Bank building. adjoining its own home
on 18th street. into cash. was affixed by
the action Of the market today. when
ten shares Of the stock sold for 100. ar
advance of nine points over the bid OF
yesterday, and then another ten shares
were taken at further advance OF
manned on that level. with 2Ol as the
asking price.
The asking price Of the stock yesterday
became the bid OF today. for 1t has
only Just transpired that the negotiations
for the sale Of the property at $50 pei
foot had been closed.
The street was faminar with the fact
that such a deal was on. and the clos
ing Of 1t in terms that are looked upon
as favorable to the bank was reflected
in the course Of the stock today.
The stock of the National Savings and
Trust Company continues on its inward
course. and. while today the transactions
In this security were limited to some
twenty-five shares. yet the price paid for
all the lots was POI, the best hgure yet
recorded.
All this will strengthen the notion that
there is to be larger distribution Of the
earnings Of the company among the
stockholders than Is now done by the q
per cent dividend. -
AT a meeting today of the directors of
the National Capital Bank. Thomas w.
Smith. vice president Of the bank. was
elected president to all the vacancy
caused by the death OF John E. Herrell,
and Albert Carry, the second vice presi-
dent: was made vice president In place
of Mr.. Smith.
1t is understood this action Is all that
Is to be done for the balance Of the cur