The Washington times., 1914-02-27
METROPOLITAN BANK
HIGHER ON CHANGE
Price For Stock Is Bid Up, But
None 0btained-Financial
Review Cheerful.
Bv GEORGE H. GALL.

The strength of National Metropolitan
Bank stock was emphasized in today S
trading on the local Stock Exchange.
The price was bid up to 1921 on call.
and after call 1893 was bid with no stock
offered under 205. None was obtained.
CAPITAL Traction was unchanged.
While a few shares, six in all. sold at
ITO, the quotations We're raised only TO
1nstSst I,9I. 4 fractional lot offered
at 110 after call found no taker.
The trading in today's session was
exceptionally light. amounting to only
5000 of bonds and thirteen shares OF
stock Both bond sales were at hiSher
prices. sl.oo9 of Capital TraGn9n os a. a.
lo9. and 81, 900 of Washington Railway
ar s2S Besides the sale of Traction the
only other stock sale was OF seven
shares of Lanston at 81.
An unusually optimistic view Of COM
,nerciaI and financial conditions is ia
ken by the Commercial National rank
in its monthly digest issued today. HlSn
praise for the new currency system Is
also voiced.
speaking broadly says the circular,
lit may be said that the country mas
not begun to grasp the real significance
of this change in our currency anu
banking. system. 1t gives to the amer
lean people the facilities which bankers
and currency experts have Tor years
been asking for as a necessary protec-
ton against panics and the periods OF
uusettlement to which the American
money market more than any otner
money market in the world has been SO
often exposed. More than that, the lew
system will be effective in creating a
broad discount market in the Cnlted
States, and in ena bling American In
stitutions to compete for profitable
BUSINESS in foreign trade. to do which
under the restrictions Of the national
bank act was never possible.
OF the business outlook the banks re-
view speaks as follows:
Confidence is being restored gener-
ally throughout the United States, says
the statement, and sentiment regard
ing business and politics is certainty
more hopeful than II was a tew weeks
ago. The banks are in excellent shape
to make the change since money Is now
plentiful, the tension of a few months
ago having completely disappeared.
That does not mean that money is not
in active demand, for the inquiry from
many quarters IS broad. ard as busi-
ness improves mercantile requirements
will ,enlarge. But with the country's
bank position as strong as it is today 1t
will be an easy matter for the banks to
pay their subscriptions for stock In the
Federal reserve banks and at the same
lime to make fresh deposits of reserve
money called for by the provisions of
the new law. The success of the new
currency system is easily assured. and
although it will lead to some radical
changes in the methods of doing busi-
less. such arrangements as will be re-
Iuired have i'll a large measure been
provided for
The investment situation is favorably
commented upon as follows:
Increased optimism has been natur-
ally reflected in broad investment buy
ing of securities. This movement with
in the last month has reached unusual
proportions, both in this country and in
Europe, where the relaxation of money
rates has been an important, factor,
causing individuals and institutions to
employ idle balances in the purchase
of high grade securities. There has been
a good deal of reinvestment buying by
people in this city, and it looks as if
the movement would continue for some
lime to come. Whether il does or not
depends largely on the political develop
ments and the possibilities of some sud
den change in the situation in Mexico.
There is no doubt. however, but that the
investment markets are on the upgrade,
and that people Senera'ly are more IA
vorably disposed toward investment
securities than they have been at any
lime in several years"