The Washington critic., 1890-04-16
LOCAL sToCKs.
Good Market for Washington securi~
tfos-The Fluctuations

There was fairly good market for
local stocks yesterday. Columbia
National Bank on a sale of ten shares,
at 1922, scored rise Of 4 per share; the
highest previous sale was at 1879. At
the close o few shares were offered at
1922. u. s. Electric stock has shown
apparent weakness for several days;
two small lots have been put on
the market at ia and ten additional
shares are for sale at ia. The opinion
prevails that the stock was borrowed
and sold with the expectation of fore
ing down the price. If this be true the
game Is dangerous one, as on
its present dividend of 8 per cent.
on the par value of the stock,
at ia the investment will net
over per cent, which Is about double
the yield of many stocks on the list
which are much more risky. Besides,
an per cent. dividend is but an earn
est of what the company is likely to do
in the near future. 1t was whispered
8t the stockholders meeting on
Monday that the net profits
this year will be $4,000 net, over all
expenses, enabling the company to pay
deemed prudent. In addition to
the direct profit from dividends,
as soon as arrangements shall
have been made for erecting q new
additional plant, by vote of the stock
holders, new stock to be issued to pay
for the same will be allotted to the
stockholders, of record at the time, at
par, so that from every three shares
now acquired two other shares without
premium can be had. There is no
probability that any of this stock
will find its way into the
market, as already the stock is &C.
cepted, both here and in Philadelphia,
at par for loans at four and five per cent.
The ordinary stock dealer is much too
wise TO sell what can thus be used as
collateral security, when he can make
as clear profit about one half his
dividend, with an assurance that the in
come from his investment is surely ere
long to be more than doubled.
There is some improvement shown in
Chesapeake and Potomac Telephone
stock. This is altogether natural There
are few companies in the country under
better management. The business
in this ,city and in Baltimore.
The proposition placed before the
Maryland Legislature looking to the
arbitrary reduction of telephone
charges, which had a depressing in
fluence on the price Of the stock for q
time, met with the reception it de-
served, as it was believed to have been
either blackmailing or stock
jobbing operation, and as soon as
rightly understood it was relegated to
the tomb of the Capulets. The stock
of this company, which has recently
sold at So, was placed yesterday to the
extent of 90 shares at SO, closing at 854,
with an Offering at SO, probably made
to attempt to hold the stock at that price
with the hope that other lots may be
brought out.
The offerings of Graphophone stock
were meagre and unimportant. Two
small lots of ten shares each were taken
at 1872, and an offering at 13l of fifty
shares, which was quickly accepted,
left no stock for sale below IA. AL
though this stock is regarded as in
trinsically worth double what 1t was
year ago, the instrument having been
in the meanwhile so improved that it is
daily exciting the wonder and admira-
ton of all who hear it, yet such has
been the persistence of the attacks
made upon it that the registered
quotations are less than one half
what they were in May last. On the
10Th of that month block of 100 shares
was sold at $2S. 1t goes without saying
that no one able to buy can afford to
neglect the opportunity now presented.
In American Security and Trust
stock the usual occurrence was wit,
messed of steady advance in the face
of several offerings and the rise main
tanned on the closing bid. The detail!
were the following: Twenty shares solo
for 409 and twenty. five for 404; twenty
more sold at 40| and twenty five addi
tional at 403. The last offer to sell was
! at Al.