The Washington critic., 1890-05-06
LOCAL STOCKS.
transactions on the washington Ex-
chRnge-Notes and GoaaIn

The o. ening day for the new week
showed no feature f discouragement to
the holder of coed local stocks.
A small lot of Columbia National
! Bank stock q shares) sold for 1888, as
| good price nearly as 1t has brought for
several months. The same NAV be said
for a sale of shares of the stock of the
West End Bank. IL brought g6. n
premium OF So per share, which, though
| not Keeping pace with the phenomenal
| successes which ether new institutions
| of the kind have attained, yet Is quite
sufficient to afford announcement to its
| officers, the faithful workers who have
had to contend with more than ordinary
discouragements. Perhaps this com
paratively slow growth of premium,
though 1t Is not necessarily indicative of
a lack of prosperity, may stimulate some
of the friends of the institution to trans
fer 10 1t corporate deposits, which are
enjoyed by other national banks, which
have much less claim TO their support.
The sales of Metropolitan Railroad
have recently been very meagre.
Yesterday a small lot of IL shares
met with ready purchase at t73. lust
S3 better than sale of z shares
realized about ten days ago. AL.
though this road Is amply provided
with the means to increase its working
capital by the issue of stock, its share.
holders are anxious to put in the
money, yet the policy of making inf.
Intestinal dividends Is still persued and
the stock allowed to pay but about 81
per cent on its market value. The ex.
planation probably is that everything
must be held in reserve for the day
when the poor horse---not as poor as
he once was-may have rest and the
Judson system allowed to take turn.
II has been the complaint for months
that the Graphophone stock has
had no support. This was due to
the fact that those understanding the
value Of the property were willing to
look on and see others, wise in their
own conceit wreck the property to their
own hurt that the former might buy 1t
at low prices. Graphaphone stock ap-
pears not to need support. The man,
already mourning lost opportunities.
who said II will put off my purchase
of 200 shares till Monday, local stocks
are always lower at the opening of the
week. found but little to confirm his
prognostications in the prices of yes.
terday The closing sale Saturday w as
at 14t, yesterday it was at 155, lust a
difference of 5000 on what he wanted.
But there is time enough yet. Those
who understand the magnitude of the
invention say: Every share of the
stock is worth round hundred dol.
lars"
The first sale was of 100 shares at Is.
The next, but 30 shares, brought 15I.
The stock was then offered to the extent
of % shares by one wanting to buy, az
a low price, at 15s, with no one anxious
enough to see the stock advance to bid
more than 15b for it. Outside the board
no offer 10 sell was made at less than 90.
A man who has investigated the value
of the graphophone most thoroughly,
and is thought to be competent to Judge,
said yesterday: For intrinsic worth as
money Gaming invention the Bell tele-
phone cannot be compared with the
graphophone. When the graphic.
phone instrument was first shown be.
fore it had attained its present matchless
perfection, one of Washington's bright
est minds expressed this opinion: 'It
will not be many years before the owner
of few shares of the graphophone
stock will be considered rich man"
Yesterday well known stock broker
Joined man ON the cars who is presi-
dent of one of Washington's largest
and most prosperous companies, who
greeted him with the inquiry: "Well,
what is the special thing to invest
in now ?" "Graphophone stock" was
the ready answer. ut has been arti-
ficially depressed to about half what 1t
brought year ago-$2S-and is in
trinsically worth far more than double
what 1t sold for then. Your friend,
Mr.. =, who you know makes few
blunders, owns thousand shares"
Eyes" +" was the answer, II have lost
millions of dollars l lost million by
not buying U. s. As at par" But the
broker was ready: "You might have
escaped that loss If you had done as ex
Mayor Crawford of Georgetown did,
And what did he do about the -"
was the query. "He came to me and
said: Il have trust fund to invest and
am afraid to put it in a security bearing
so low rate of interest as per cent.
Friends tell me the price of the bonds,
though now al par, may greatly de-
cline. DO not hesitate, was the
answer. English Consols bearing 8
per cent. are standing at nearly par,
and the L. S. As will go to at least 8
premium. The ex-Mayor invested,
and was more and more profuse in his
expressions of gratitude, as the bonds
passed the limit of and finally
reached 30 premium. What shall I
| do now?' was then his inquiry. Sell
al once. The bonds will go down as
soon as the Government ceases to be
buyer. The ex-Mayor died before the
last half of his advisors prophesy was
fulfilled, but he stuck to it both ways
on the 4s,' said the broker, as his
friend dropped off at Riggs & Co.'s.
If an order for 1000 shares of GRAPHIC.
phone stock for this man should be on
the market no one will find it out until
the whole amount has been secured,
and but few will know 1t then.
There was good market for Ameri-
can Security and Trust stock and no
offerings were made below 500. At 50f
90 shares were sold This stock is ac.
cepted as collateral security at As by
very conservative bank officials at low
rates of interest. What is supposed to
be the last assessment on the stock, but
So, will mature after May 49, A rapid