The Washington critic., 1890-05-09
LOCAL STOCKS.
Transartions on the washin gton Ex.
ohanGe.-Notes and Gossip.

'erday al The Exchange was small gives
but faint idea of the dullness of bust
ness.
For shares of Traders National
Bank stock % was paid on paid.iu
value Of 20, with more stock for sale at
the same price. A word of explanation
as 10 the amount paid in on this stock
may be timely. As every stockholder
and dealer in the shares knows, the
amount paid in is 90, instead of 20, as
stated on the stock list Of the Exchange,
but inasmuch as the $40 additional was
advanced by the stockholders to create
an imm cdiate surplus, instead of having
it accumulate from earnings, 1t was
deemed last night by the board of brok
ers to state the amount as but 20, be.
cause in naming the paid-in value of
other bank stocks all that have their
capital full paid have the par named as
100, which is fixed and Interchangeable.
The surplus is, of course. thing liable
to daily growth or dimiuution. Hence
the stock selling at 9j is really at a
premium of S..
But little is known about the business
of the Traders Bank; it is believed to
be thing of steady and constant
growth, and as an institution for the
safe custody of money absolutely be-
yond question.
The only other recorded sale was of
40 shares of Pneumatic Gun Carriage
stock. 1t brought Il with more stock
for sale apparently at the same price.
This stock is recognized as speculative
and probably not little money has
been lost in il. The invention is believed
to be one of undoubted merit. Its OBJ
ject is to handle guns of great weight by
utilizing the pressure of the steam of
the boilers on a ship, something after
the manner of an air brake on a rail
road train. 1t is believed that all the
trials made under the supervision of
Governmental engineers have been
eminently successful. The par value of
! the stock is $40; nominal capital ST.
| 600 600.
The advancing tendency shown by
the Chesapeake and Potomac Telephone
stock continues, and the lowest Offering
was at 72ti, with the bid 101. The pre-
vious day a bid of II failed to find a
| taker.
1t is believed that the man Offering to
sell Pennsylvania Telephone stock at
2s4, stands on dangerous ground if he
is doing it to hold down the price. AT
so, even on the present dividend of 4
per cent. on the par value of $50, the
yield is nearly per cent, and there is
little doubt about the advance of the
July dividend to per cent, in which
case, at 30, the yield will be close to 81
| per cent.
There seems to be dearth of good
lot Of ctA
orders for 400 shares around the city,
but no one will accept anything like the
bid price for the stock. Those who are
interested in depreciating Graphophone
stock had better stay away from the
office of the company If they do not
want to have the conviction forced upon
them that they have chosen unwlsely in
selecting the bear side of the market on
this stock. On entering the door yes
terday visitors were greeted with re-
freshing sight to the believers in the
| Graphophone stock. On the large
mantelpiece were fourteen mammoth
cabinet photographs showing the diff
ferent rooms of the factory, crowded
with workmen, the machinery in full
blast, with scores of the completed in.
struments in course of preparation fol-
shipment. Not a little important in
formation away from the office of q
semi official character has recently been
| gathered, but held from publication by
request. A well informed broker should
be able to impart it to those interested
The utmost harmony and cordiality ap
pears to exist between the company
and Mr.. Lippincott, so much so tina
probably at once the business of manu-
featuring machines for the Canadian
market, too, will be begun for him il
the Dominion. The graphophoneI
were doing grand work at the Capito
yesterday, and it is largely due to thi
little wonder-w worker that the whole o
the interesting tariff debate in the Hous
yesterday is ready for those so eager t,
get sight at the Record This morning
Probably in the history of reporting th,
world over never was such a volume o
important matter handled with the SAM
accuracy, and yet driveling idiots wht
have sold the stock short are attempt
ing TO deceive the public into the be
lief that the success of the graphophon
is in doubt.