Evening star. [volume] (Washington, D.C.) 1854-1972, 1909-02-27
LOCAL FINANCIAL NEWS,

! been bought at. the meeting today at
| lower figures than have been quoted The
offering at lower prices, however, did not
| serve to attract buyers. and the result
was that while the scale of prices in
/ the case of some of the more active Sc
| curities showed recessionS, yet the volume
| of trading remained comparatively small
| Gas stock sold for 20 and 70A, and a
quotation lot at one time was offered
not get beyond T0h. After the call more
stock was offered below the bid.
| Mersenthaler stock also reached a new
low level when it sold for 2trt ,20S1a and
nos. and at the close was offered. at
20Sls, while the bid was 2O73,. After the
cal ten shares sold for 207la.
| The traction securities had no attrac-
lions, or. at least, not sufficient to bring
purchasers. although offered at a con-
| siderable shading from late current fig
| ureS.
| Monday last the operation of new
| line of city railway was begun by the
| Capital Traction Company. 1t is in effect a
cross-town line. or rather it goes in
| transverse direction across wide per-
| ton of the city. Starting at the foot of
Sth street or the navy yard. southeast, it
passes In northwester4y direction clear
across the city to the bridge at Rock
Iiceh WHICH is III the nedu OF ZDtl street
northwest. 1t has been in use for only
| the few days of this week having been
made possible by joining the existing lines
OF the company with the new section on
New Jersey avenue from Florida avenue
and 9TH street to the Union station.
BY building a piece only one block in
length in front of the Library of Con-
gress, extending from B street to East
Capitol street and making traction ar
rangements with the Washington Rail-
and Electric ('0mnaOv for ~
balance of the distance along LIST
street the company has been able
to join the western and eastern
tions of the city. Exactly what effect
of the company remains to be demon
started 1t may be said that a cross
town line is looked upon in this city at
least with cold eyes by the average street
railway man, for he sees in it but little
prospect of adding to the earnings of the
company. 1t remains to be seen what
sort of showing this line is going to
make in the column of daily or weekly
earnings. The company is also going to
have an experience with another cross
town line when it builds the line passing
along Florida avenue from 18th street west
to 9Th street east, and thence along the
latter thoroughoughfare to the navy yard
1t is unnecessary to say that the latter
line more especially was not desired by
the company, but was undertaken. at a
congressional request made in such a
fashion that it could hardly be refused.
The financing of the river business for
merly conducted by the late Capt. Ran
dali. which has practically been complet-
ed, is an instance in point of the change
in conditions in and about this city. The
entire enterprise. including the freight
and passenger business of the river land
ingS and the excursion and resort pa
tronage of River View and Colonial
Beach, with the ownership of those prop
,1tppt ,l,<,,,
half a million of dollars. While a pro-
portion of the money has been contributed
by people living here, and whose interests
are centered in this city, still to large
extent outside capital has become en-
gagged, a circumstance which is by no
means unusual in the recent development
of this city.
One result of the growth of the city
is the recognition which comes merely
to a large center of population and its
growing consequence as a place to do
business. The prime feature of this new
enterprise is the prospect of supplying the
means for bringing to this city the pro-
duce of the country along the lower
river. The demands OF the growing mar
ket of. this city are no doubt the stfnlu |
lating cause of this latest business move
ment. |
This addition to the lines of commuui-
cation. between this city and the region |
lying about is only one of several activi- |
ties of the same nature. The interurban |
trolley line connecting this city with Bal |
timore and Annapolis has been in opera |
ton now for some seven months, and |
while the project of similarly bringing |
this city into closer connection with the |
region about Frederick, Nd, and with |
the country as far to the north as Get
tysburg, Pa, is still under consideration, |
there is a good chance that something of |
the sort will be done.
In this connection may be noted the |
new life and the material improvements
of the trolley lines connecting this city |
with Falls Church and Fort Myer and |
Alexandria. which have been brought |
about by the increased business as well |
as the improved outlook for the future |
There is no question that in the near
future the schemes which have been |
talked of from time to time of trolley |
line connecting this locality with the
region about Richmond will become actu-
alities. When a city has gathered a pop
ulation of some 800, 600 and is steadily
growing, it is quite evident that the rec
ord of such a state of affairs will be
found elsewhere than merely in the books
of the census taker
During the past week the latest device
In the way of street was put in
service on one of the lines of the Capital |
Traction Company. The pay-as-you-enter
cars is the last word from the designers
intention of this company to add to the
number of such cars in use on it's lines
while the other traction system in the city
the Washington Railway and Electric
also given orders for a
large number of cars of the same type
This style of car has several very
strong arguments in its favor, the chief
of which is that owing to the fact that
the conductor does not leave the rear
platform. where all passengers must en-
ter, it will be possible for him to stop and
start the car with a minimum of danger
to the public using the cars. On the other
hand the reduction in the number of ac-
cidents lessons an important item in the
annual expenditures Of such a corpora
ton in meeting the claims for injuries
In addition there are no omissions in the
of fares, and it is estimated
that the increase in that particular alone
will range from to 20 per cent.
What Congress is likely to do and What
1t fails to do Is a market factor in the
case of a good many of the securities
listed on the Washington Stock Exchange.
AS the week just closed is the last of the
session, the coming days will be free from
any influence from that source. 1t is not
that any legislation will be con-
sidered at the special session which has
been summoned, except the specific subject