Evening star. [volume] (Washington, D.C.) 1854-1972, 1909-04-03
LOCAL FINANCIAL NEWS.

Railway and Electric Company made
quite an advance today at the meeting of
III, Stock Exchange, and Lanston also re-
| corded its usual eighth of point daily
progress toward higher levels, while small
lots of the Washington Railway preferred
stock were held stimy at OIL and the broker
| Offering the stock for sale gave notice
that 1t was the last chance to get 1t at
that level. the inference being that it was
going to be higher.
| However, there was not much demand
| for the stock nor did there appear to be
any eagerness to sell. although the bid
rose slightly and at the close was 9Oes,
while the asking price was Ola
The greatest advance was in the COM
mon railway. where the bid was 43k at
the close, while yesterday the stock was
offered at 43h. The asking price today
was "A. Two fifty-share lots sold at 43s
and 43ss.
! The figures for gas stock were also on
| a higher level than was the case yester-
day. but neither with this STOCK nor
| the others was the trading stimulated in
| consequence of the better prices which
could be obtained.
There Is SO little going on in financial
circles that there is an entire lack OF cur
rem. gossip. 1t seems Impossible 10
arouse any interest on any sup1ect'
| The inference is that the course OF Dusl-
ness Is SO feeble there is not enough to
stir opposition or even cooperation II
either should be attempted. Even on such
topic as the rate OF interest Tor loans
Of all kinds, ordinarily one OF much SEN
sitiveness in financial circles there Is no
disposition to resent the suggestion that
II should be lower, or, I'm fact, much con-
Germ about 1t either way.
| 1t appears, however, that the era OF
cheaner money does not show. While some
| loans have been made at figures less
| than what is regarded as normal here,
the same is to he said of loans made at
a higher rate. So one offsets the other.
There is no forecast on this subject
90 It fs not known whether money is
going to be cheaper or not.
Just at present the principal demand
for money comes from those who are
building houses and apartments for sale.
For the most part this demand is met
| with five-per-cent money.
Collateral loans on local securities are
not sought for, as the dealings on the
local exchange are not OF large t Vo,ume
speculation and the investment demand
appears to be directed toward the larger
market.
AS far as known, the movement toward
organizing another savings bank with a
| capital of 100000 is not making rapid
progress. Those who were actively iden-
titled with 1t are nevertheless said to be
interested in building association IN this
city
Such an enterprise is obliged to run
counter of the view apparently general.
that there are enough financial fnstftu-
lions In this city. In spite of what might
be called this general attitude. 1t is still
possible to hear now and then refer
ences to the possibility of certain in
terests and men starting in the banking
line and more particularly organizing
national bank.
The pay-as-you-enter cars have been in
use on the Capital Traction Company's
lines long enough to allow for opinions
the public as to the utility and convent
ence of this type of car. What the pub
lie thinks or this subject can be gath
cred in some sort of fashion from the
appeared in the newspapers. and also
from the comments that come to the
company from its patrons.
The criticisms of this new service. as
the cars. apply to the seats. 1t is urged
that these ought to run across the car
instead Of with it's length. and with an
aisle in the center.
fed with this car and its results and be-
lieve that not only are the patrons Of the
line getting an improved service. but also
under safer conditions: The company is
faction and profit to itself as we'll as
with greater facility.
This result however. is not surprising.
This model of street car Is not an untried
long since passed. The car has given
satisfaction wherever used, both In this
country and in Canada.
1t has been pointed out that the cars
are not suited for summer use. OF this
the company was we'll aware when it
adopted them. But the same thing may
he said Of other types Of cars used during
the winter months 49,
companies to duplicate their equipment SO
as to provide for the needs of the cli-
mate at the two principal seasons OF the
year. 1t 10 expected that as no type Of
summer car where the fares can be COL
lected when the passengers enter the
cars has as yet been devised that during
the summer period the usual practice will
be followed and summer cars used.
Some time next month, 1t is expected,
cars Of this style will be in use on the
9th street line OF the Washington
Railway and Electric Company. Then
the service will be through. from the
avenue, which is a continuation Of 7th
street.
Addition to the equipment in the way
Of cars is an expensive item in the
cars cost about $1,000 each. The trucks
and the motors are what make them
run in big money.
When II is coaefdered that the two
systems in this city have each 900 or
more cars it can be readily understood
how much money is spent in that way.
although Of course ii is not meant to
be claimed that the entire equipment
Of the companies in this city averaged
that sum per car. The modern car is
what costs.
Before the days when motors were
a. necessary part of q street car the
outlay in this direction was much less.
To q large extent cars were made in
the shops OF the companies at less
outlay than the same work could be
done elsewhere.
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