The Sunday herald and weekly national intelligencer., 1890-06-22

The past week has been the banner one of the
year in the local stock market, as the amount
of business done was largely in excess of any
other thus far. In addition to the sales made
on the Exchange quite number are known to
have been made privately, involving large
amounts of money and embracing transactions
in large blocks of stock. Railroad stocks have
been in great demand, and Columbia Title In
surance received an unusual amount Of atten-
ton. Graphophone continues its upward course,
and Electric Light is gradually reaching up to
$50. The American Security receives special
favor, while Second National Bank touched
'high-water mark. Altogether the month of
June has thus far been good one, and the
general average of prices ranging higher than
before.
The sales of BELT" Railroad aggregated 337
shares, commencing with 60 in five lots at 66t
and closing on yesterday with sales of 277 of
which $50 in eight lots sold at 64l, and 127 in
three lots brought 65, showing slight recov-
ely over first prices. Privately, large blocks
are known to have been sold around these fig
ures. The announcement has been made that the
July dividend will be reduced to so cents, and
it is the general belief that this was the cause
of the desire to sell by those who had
early information of the action of the board.
also badly wanted, and the astonishing price of
322 and 325 was paid for two lots of five shares
EACH while one share brought 1861, being an
advance of just S25 over what the same share
sold for two weeks ago. For block of so
shares $50 was considered a reasonable price to
pay by party who was making a still hunt for
the stock. The convertible bonds were also
strongly bid for during the week, it being re-
ported that favorable legislation was counted
on.
lexington and Soldiers Home Railroad par
tcipated in the general demand, 76 shares in
five lots readily bringing 20, while two lots of
so each found purchasers at an advance of T5
cents. 60
Georgetown and Tennallytown took on a
decided spurt one lot of 10 shares selling at 5S
followed by four lots, aggregating 30 shares, at
go, and closing with one of 10 at SO, these prices
being an advance of from 81 to $5 over the sale
of the previous week, the large amount of travel
on the road giving it the enhanced value.
Columbia and Metropolitan Road were with
out transaction on the Exchange, but privately
a block of 80 shares of the Metropolitan was
traded in around board prices. The Columbia
showed decided weakness, no bid appearing on
yesterday.
The market for Columbia Title Insurance on
Wednesday seemed unlimited, and 100 shares
rapidly changed hands at Il, with an apparent
Willingness to take all that could be had at that
price Private sales of an equally large amount,
some of which brought better figure, well
authenticated. Since that day, however
weakness in the bid has developed and offer
'- ings at y fail to find purchasers. This stock
still carries the quarterly dividend, and also the
extra one OF ID cents.
The boom or our old friend, Graphophone,
still continues, and on sales of 610 shares the
price advanced from SIS to 164, with a gener-
Gus show of activity and belief in still higher
prices. All sorts of rumors are afoat, and
feeling OF confidence in the future is now shown
by many who have but recently talked dubi-
ously. In the mean time those who have de-
layed making their purchases should lose no
further time as this opportunity to secure bar
gains will positively not last longer than next
week. Gentlemanly salesman in attendance at
all times to take your money and a ticket given
to each customer. Come early and avoid the
rush.
Pneumatic Gun Carriage somehow seems to
have lost its grip, and on free selling the price
dropped to Il, at which 600 shares exchanged
hands. The drop is supposed to be due to the
lack of any late fairy tales about it.
Bank stocks were in moderate demand, 10
Metropolitan bringing 295 in two lots, Capital
12l and 10 Second National 200-the highest
price ever pad-at which it pays four per cent
For IA Traders us was paid, and for 10 more
11Si was asked and received. This stock has
suffered the reaction from the first prices paid
and is now on the upward trend.
There was greater demand for American
Security than has existed for some time, the
sales aggregating 261 shares, 80 selling at 56!
and 20 at 56l, followed on the next day by sales
of 100 at 565 and III at 575. 1t is also stated
that large private sales have been made at cur
rent prices.
Electric Light still keeps moving on, 20
shares bringing 13S and II more 14O. For
$4,000 of the bonds the same prices paid
which make them really cheaper than the
stock, as they are convertible at pleasure and
carry the interest also Gas stock dull
one sale of 30 shares at 463 alone being recorded
Lincoln Fire Insurance about holds its own
40 shares bringing 81 and 800 5s, which seems
to be the standard price for 100 share lots
Bonds received more attention than fer some
time past $500 Gas, series A, selling at 12l40I
1917, and 50, ,700 series B, 122, including July
interest. $3.50 of the Light Infantry 2d's
found market in one lot at 90, the report that
default had been made in payment of the cou-
pons on the lst mortgage serving to depress
them. The bid on the lst, however, stands at
par, Notwithstanding the report.
The money market continues easy, good loans
being readily taken at per cent, and all the
signs pointing to continuous ease throughout
ments of dividends on the 1st pTOXimo, a feel
ing of confidence in increased activity in stocks
is looked for during the next fortnight,
Notes and Comments.
The recent action Of the board of directors of
the Columbia Title Insurance Company-or, as
the story goes, part of them only-in declaring
an extra dividend on their stock has provoked
considerable opposition and unfayorable criti
cisn. Already it is understood that one, if not
more, of the directors has resigned in conse
quence, and the recent large sales of the stock
are indicative of the dissatisfaction of some
large holders The matter has been a subject OF
heated discussion during the past week, and