The Washington times., 1910-01-09
BONDS WERE ACTIVE
ON LOCAL EXCHANGE
Demand Good, But Supply
Was Ample-Features
Worthy of Comment.

There have been several fed lures
worthy Of notice in connection with the
local market during the first week OF
1910. First, the great activity in bonds,
showing clearly the reinvestment of dis
tributions on account Of interest and
dividends But the movement also dis
closed the liberal offerings Of bonds so
that the demand was readily filed with
out causing any sharp upward move
menu in prices
Il is quite likely that some OF the
banks and trust companies that ac-
quired bonds during the period when
they were anxious for returns on surplus
funds are lquidatinE their holdings at
this time, Wncn money is not so flush
ard rates are decidedly ST. Ong. More
over the indications at this tine promise
q generous demand for the currency Of
the realm during the year 1910, probably
a better demand than even fer the last
rev months The great increase in the
volume Of business and manufa curing
Industry all over the country call for
Ia rCer employment Of funds, and when
The interest rates warrant even Wash
iugtoD funds may seek partial employ
mcEt elsewhere, unless the local demand
warrants.
Gas IS the Feature
But the real feature Of the bond mar
ker lay in the sharp advance in the
the prices Of the per cent certificates
are still dragging around I07iz- There is
a Dositiou that looks untcna abIe-IoOks
actually foolish. bat for the well edver-
used fact that something Is coming ont
something doing in Gas and the As
are presumably 60 be the medium OF
'.it- whatever Il may he The IudU-
CiaIIv interested have apparently
changed their position and now admit
that perhaps there Is really something
doing iU Gas
Al the same time they are au at sea
a. 10 what ir rs, and probably viii be
foT some time TO come until the powers
that be get ready 10 make announce
meut OF ihe project. As said before. the
per cents contain no clause, accord
ing To security books. for retirement.
but the chances are that with , per cent
money and per cent Investments be-
low the market price Of their 4 per cent
bonds, the holders Of Gas Is might
readily be induced 10 submit TO their
retirement and q permanent higher rate
of dividend established After which
should be the qualifcat atio7-pcrhapS
Potomac Consolidated IS are back
around I13, and all issues are selling
well 20 the fore
The week viii indicate plainly the
progress or the various street railroad
lines during the year just closed II
is expected that the earnings VIII be
verv satisfactory. that the old officials
% 2 man viii ne reelected. and dIvi-
deuds maintained on present basis
Bank and Other Elections.
The week VIII also indicate the
changes In the directory and official ros-
ter list Of local financial institutions Sc
far ss known. there viii be no very i'm
portsnt changes IN the directories Or in
the official rosters OF the banks The
vacancies created by the untimely pass
ing Of r II Lynn in the American Na-
tionsI Bank have been filed the United
states Trust Company has stiU TO select
one director. the Fourteenth Street Saw
iuEs Bank one director, md the clear
ing house one member Gf its standing
committee, 20 fill vaCspcies .-ause7 bv
the same loss to the banking fraternity
OF this city
Commissiouer-to-b Rudolph. vice
president Of the National METROPOLITAN
. Bank. VIII be reelected TO The latter
position on Tuesday- General Johnston
named also for Commis -i0ner. is a di-
rector OF the Washington Loan and
Trust COMPANY and he viii also be re
elected.
Gas shares have been active all week.
cIosinE point of from the highest.
There's probably n reason for the ac-
Jivity as indicated above
AferEentEaieT and Lanston have acted
well Greene Cauanea WaS easier
Traction shares steady and firm The
investment demand for bank stocks con
tinues and they are generally a little
higher
This year VIII see two Seventh street
banks IN rebuilt buildings The Second
National Bank Building is 70 be thor
ouEhlv OveThauled and the bank en-
trance brought down to a sidewalk Level,
and the Lincoln Bank Is also to have 8
street level entrance
Also the year viii see the completion
Of the new District National Bank
Building and indications promise an or
usment 10 the business center
The record OF the week is also the
record Of the wear to dc te