The Washington critic., 1890-05-07
LOCAL STOCKS.
Transactions on the Washington EN-
change-Notes and Gossip.

cbange-Notes and Gossip.
Although prices were well maintained
at the Stock Exchange yesterday the
transactions were but of limited proper
tions.
For five shares of Columbia Fire In.
surance the highest price yet reached
was realized. II brought 10 cx.divi
dend, which was paid on the 1st Of
May. The success of the Columbia Is
evidence of what able, industrious aud
Influential men can accomplish by de-
termined effort. II Is quite probable
that the dividend just paid-but 90
cents per share, 4 per cent. on $5, the
par value of the stock for the half year
since November-will be the last at so
small rate. The surplus now so
nearly equals 100000, the amount of
the original capital, that 20 per cent.
dividends may be expected, which,
barring extra losses, will still leave
something to augment the large reserve.
The offerings of the United States
Electric Light stock continue very
small. All the floating stock appears
TO have been used in an attempt TO hold
down the price. This explains why
it is so desirable that those seeking
cheap stock of this kind should send
their orders to the board.
The. "Curbstone Brokers" have
no desire TO register fic titious values, 1t
may be presumed they were getting
117l, but are out of the market now
apparently. The only sale yesterday of
Electric Light stock was of 10 shares
at 116. AT this price, taking off the
accumulated earnings at 8 per cent.
since April 1, the purchase will
yield the investor, net, per cent,
much more than double what many
other stocks, which are hazardous,
which this is not, will yield. 1t is alb
surd to think this stock will not go
very much higher as 1t is one of the
easiest stocks 10 carry on the list. A
loan of $4,000 was made ON 100 shares
yesterday at long time at per cent.
per annum. The borrower pays per
cent. and receives Z on the market
price.
An interesting and startling tale of
delayed delivery, to put it mildly, of
but 10 shares of this stock, which was
sold on the board as long ago as last
Friday, might be told. Charity sug-
gests the explanation that the seller is
too busy with weightier matters, but it
is indicative that Electric Light stock
is no longer plentiful, While the buyer
is in no danger of not getting the stock,
it is hardly business like that such i'm
portant matters should be delayed.
1t is noteworthy how readily the pub
lie interpret the Exchange methods Of
holding down the quotations on GER
tain stocks, Graphophone, for instance
Yesterday novice, who has been
watching the market on this stock,
with the hope of getting some
at low price, in scanning the sales
tor few days back, remarked with a
sigh: 1T is only when there are free
offerings of Graphophone stock that
the price goes up" The opposite was
the case yesterday when there was no
stock at the board, the quotations fell
off 10 but 10 bid, 154 asked for 80
shares, against sales on the previous
day at 154.
To compete for 30 shares and run up
the price would simply lessen the
probability of larger lots being sent to
the Exchange for sale.
There is a growing confidence in
Chesapeake and Potomac Telephone
stock, and the bid was advanced to II
without finding any stock yesterday at
that price. The lowest Offering was
at 12.