The Washington critic., 1890-05-01
LOCAL STOCKS.

Transactions on the Washington Stock
Exchsnge-Notes and Gossip.
There was but moderate volume of
business on the Washington Stock Ex.
change Yesterday.
For 1000 convertible U. S. Electric
Light bonds 1179 was paid. This was
about per cent higher than
a large lot had previously sold
for and about 2l higher than the
best prices recently realized at
auction. For the U. s. Electric stock
the bid was advanced to 115a, with the
Offering at 100. This stock Is beginning
TO be appreciated; people are finding
out that the company is under superior
management, the directors noted for re-
sponsibility and sound business methods
and enterprise unsurpassed in the
community, and, more than all,
cial basis; hence on the Exchange
and privately there is a growing inquiry
for the stock. A stock that is abso-
lutely good and paying s per cent, and
which will yield at 1881, cannot be
kept down to 115 or 1870 either.
The only sale of bank stock recorded
was Of thirteen shares of National Bank
Of the Republic at 260. The same bid
was made for more. and the lowest offer
to sell was at 270. Though this stock
pays but per cent. regularly, its in
uinsic worth is believed to warrant the
price paid, 26. The prospect of occa-
sional extra dividends helps to enhance
its value. A few years ago there was
an extra of 10 per cent, and in Janu-
ary, 1889, another of 10.
The market for Belt Railroad is again
strong at the highest price yet realized.
Twenty shares were sold for rs per
share. The closing bid was at 72, with
an offering Of but eight shares at 75.
The test for control still goes on with
claims from each side that they hold a
majority of the stock. 1t Is believed,
like in many other election contests,
the counting of the votes will alone de
eide who are the victors.
On small offerings of Chesapeake &
Potomac Telephone stock the price Is
held at so and 20. The sales were 20
shares and 10 shares at the better price.
The closing bid was SO. with 10 asked.
Graphophone stock was wanted on
the board, and 100 shares brought 13l
and 100 went for 13. Subsequently the
first 100 was sold at 1871 and later an
offer to take it at IA was not accepted.
The seller on the board is believed tc
have so more shares, which could prob
ably be had for 10.
Those who think the Graphophone
Company is managed In shiftless
half hearted way fall into grave error
The tour of inspection recently com
pleted by Mr. +. d. Easton is already
bearing good fruits. He visited eact
of the thirty-two subordinate
companies scattered Throughout
every section of the country
and took pains to instill into the mind
of the managers a knowledge of tn
methods he had so successfully pur
sued in the territory covered by hi
own company 1t need only be sai'
that, as result of his own energy ant
ability, the company of which he i
president is earning and paying divi
dends at the rate of per cent. per an
mum and that the stock of which S5 i
the par value is not on the market anC
has sold privately as high as $25 pc
share. There are, as above stated, 3
subordinate companies, whose capita
aggregates S17, 100000, presumabl.
not all PAID IN. NOW, II these com
panies should be able to place an averag
of but six machines a week, q moderat
estimate, it would yield to the GRAPHIC
phone Company on its insignifcan
capital of but 100000 nearly 40 pc
cent per annum. The sale of but on
machine week by each. compan
would yield per cent. dividends
For the benefit of those persons VIII
are postponing their efforts to bu
Graphophone stock and who are /
danger of losing their present opportu
nifty, assuming that the stock can b
had at its present depressed price, whic
is extremely doubtful, the cours
taken by this stock last %
tober may prove of infinite interest. o
the third day of that month persister
and successful attack eliminated i
shaking out several hundred shares c
long stock. 1t sold at l2s and just
less than Yesterdays lowest quotation
ON the next day the market rallied I
IA. The following day the opening sal
was at 10Y, the last sale a. lSs, and afte