The Sunday herald and weekly national intelligencer., 1890-11-23
ELECTRIC LIGHT WAVES.
ON FREE OFFERINGS 1T SHOWS DE-
CIDED WEAKNESS,
Dropping Is Points During the Week
Graphophone Touches the Lowest p oint
for Two Years-Pneumatic Gun Pleuti-
full.

full.
The special feature of an otherwise somewhat
duh and uninteresting week was the tumble in
Electric Light stock, the figures dropping from
100 the week previous to 1913 on Friday, the gene
raj rumor attributing the free selling TO the gen
tlemen recently deposed from the directory,
whose disposition to get out of The company,
and to get out promptly. The free Offering in
the early part of the week seemed TO take the
breath out of its friends, and it not until
Saturday that they had recovered their wind
sufficiently to come to the rescue, ch they did
in gallant style, running the price up from 12S
to 133s and taking all in sight around the latter
figure, the bid closing at l30. The sales aggre-
gated 147 shares, running down from l43 to l2S,
and reacting to 1885, on yesterday.
GraDhophone came next in Importance, the
bears" jumping on it with reckless disregard
of values, and succeeded in forcing II down to
Ut marking the Lowest price that has oeenregis
this point it recovered somewhat and. number
of buying orders coming in, slowly reacted,
closing with small sale of % shares at l2i, and
bid of 12l for more. Large private sales at this
latter figure are known to have been made
during the week, and it is not at all improbable
that nearly thousand shares have changed
hands during that time, though the total sales on
the Exchange represent but $40 shares. The Off
GERS of the company state that the money is
in hand to pay the January dividend. and that it
Will be T paid a on the Y d5th pc OF that month This it
enabling many holders to pay up their carrying
charges on it.
full supply wherever there are any orders for it,
the sales of the week aggregating 800 shares, of
loss of 81 cents per share over the sales OF the
week previous. And all this Notwithstanding
the favorable report but recently printed, Illus
trating again the force of the old adage to
sell on good news and buy on bad.''
Insurance stocks ~ received ,,f rather nor, more than
recorded, 30 Columbia in three lots selling at 16.
2l0 Peoples in three lots going at o.. two lots of
100 each Lincoln bringing 5s, and two lots of
Commercial Al, a loss of 80 cents per share over
the amount paid in. One lot of so Riggs went at
81, and one of 25 at s. The only sale of Columbia
Title was Of 80 shares at 81, with further offer
ings at the close OF 6s, marking lower range on
this stock than has existed for some time.
In railroad stocks the transactions were limited
to one of 20 lexington at 60. one of George
town and Tennallytown at 504, with larger offer
ings ut 80 not taken up, and one of 30 Columbia
at 70, with still more to be had at same price Eek
ington showed rather more animation than
usual, though the buyers figures hardly came
up to $50.
The only sales @ Of Of bank stocks were of 10 Trad
both cases showing a loss in price over previous
sales.
market shows an improving tendency, conf
dence is being restored, and with the end OF this
month the prospect looks more reassurng than
at any time during the mouth. Quoting from
the letter of prominent New York financier.
he says, referring to the New York market:
"The feeling is perhaps universal that most
stocks have fallen below their intrinsic value;
but the demand has not yet been sufficient to
give any decided upward tendency to values.
Dealers have given small encouragement to
buying on margins, however ample. and transac-
tions are largely confined to investment pur-
poses and to room speculators,' while the ord-
nary speculative movement is mainly suspended.
This is natural and no occasion for distrist; for,
with affairs in state of collapse, only the most
vital and least injured interests can operate.
Most of those who have been bulls" are in
ofinvestment buyers are disposed to wait for
the chances of possible adverse contingencies, so
allowed for the recovery OF coni-
dence, for the gathering up of buying
and ddT for S 0her
financial situation is improving; but, with the
marked conservatism that prevails in every di-
rection, the recovery of confidence must be eX-
| pected to be gradual and slow. 1t is an encourag-
ing symptom that considering the past severity
of the crisis, few failures have occurred on the
Stock Exchange. 1t is still more that the vigi-
lance of the Clearing House with regard to the
| standing of its members has disclosed such a
! generally sound condition of the banks, and that
| the numerous other financial institutions have
| satisfactory evidence that the speculative de-
rangements from which we are suffering have
not appreciaby involved our credit establish
OF very great value in the coming
process of recovery. Another favorable
factor is that the of affairs in Wall street
has not involved any suffering to interior inter-
ests, beyond partial check to the free moYe-
ment of commercial credit. Indeed, the crisis
is strictly confined to the speculative and invest
ment interests, IN which respect the situation
very favorably differs from that of most former
upheavals. Morris there any reason to apprehend
that the indirect bearings of the Wall-street de-
| raugements will, for any lengthy PERIOD affect
| commercial interests unfaYorably. For the re-
! mainder of the year merchants may be incon-
| venienced from the stringency of discounts, but
| it is reasonable to expect that with the opening
! of the new year the natural reaction from the
| present severe strain viii bring money to this
city, while the great fall in stocks win reduce
the amount to be borrowed on that important
class of colaterals. 1t is not impossible that we
| may be nearer recovery in the stock market
than is at the moment supposed"
Notes and Comments.
The annual election for officers of the Stock
Exchange took place on Wednesday last and
with considerable enthusiasm the following
were elected; For president Mr. G. C. Glover was
unanimously chosen, making the seventh time
that the Exchange has shown its appreciation
unanimity the reelection of Mr. John w. Cor
son to the vice presidency for the fifth time was
also carried. The office OF treasurer has so long
and SO ably been filled by Mr.. A. X. Paris that
it was but natural that he should be reelected 20
serve for the ninth consecutive term: For seere-
tary Mr.. +. III. PelouZe was selected. The EX-
change is now managed by board of governors
and in this position Messrs. l.. j. DaYis, @. j
Bell, William b. Gurley, John w. Mccartney, B.
p. Snyder and j. A. Bates were called upon tC
serve. The annual banquet will be given al
Welcker's tomorrow night, when "bulls' and
"bears" will for the time being indulge in
putting up and putting down other things
besides stocks and bonds.
4 4
Apparently the latest attempt 10 bear
Graphophone stock was the communication IL
the Star recently cautioning the public against
the VERY serious contagious diseases of the eaI
that may be contracted" by using the machines
Next we shall hear of the horrible death of the