The Sunday herald and weekly national intelligencer., 1890-12-14

brokerage had its effect on the stock of the Co
lumba Bank, forcing the price down from l5S
to 152, from which it recovered to 154, with a
strong bid at the close for more, which could
not be had, the total sales representing
75 shares, though the actual stock in
sight was but 30 shares, the room traders
doing little "scalping'' on their own account
which brought up the total. The continued
high prices paid for the Lincoln Bank stock
has been q source of continual surprise to the
brokers, and drop in price has long been ex-
pected, and why it has not come sooner is one of
things no fellow can find out. 1t goes without
saying that new enterprise of this kind could
hardly be expected to be so profitable at the
outset as to warrant the ridiculous prices paid
for this stock and it was only question of time
when it would reach its proper level. The re-
ports to the Comptroller show that the bank is
doing well, and now that it is coming down to
a reasonable basis it might prove good as an in
vestment. The total sales represented S5 shares,
5 at 1851, 30 at 105, 30 at 1041, and 20 at 1044
Washington Loan and Trust was plentiful,
and as there seemed an evident intention to
sell, the price naturally went off from AZ at the
beginning to Al at the close, the total sales
representing SS7 shares in 13 lots, with an offer
to take 1000 shares at the latter figure.
American Security was in good demand at
about par, 70 shares bringing 62B@623, the
latter figure being par or the amount now
paid in.
Columbia Title Insurance followed the gen.
eral trend and dropped on sales of 200 shares
to 81, marking a loss of fully 1.25 in the last
three months. 1t seems to be the opinion of
conservative minds that this stock has now
reached point where it is good investment.
OF course, such glittering specialties as
Graphophone and Pnuematic Gun Carriage
could hardly be expected to show any great
amount of improvement at such time, and it
is therefore point in their favor that they
hold so well, 320 of the former going at from
liz to 10f, and 500 of the Gun in 100 share lots,
readily commanding rs cents
Other sales were of Bull Run Panorama at
IS, 5000 worth of Light Infantry bonds at 95,
and 81 300 U. S. As at 1214@1224 for the regis
tered and coupon, respectively.
In general terms it may be stated that the
money market shows a little better ease, and
| favored borrowers have been able to secure
| loans and discounts from the banks at usual
| rates on undoubted security. OF course bor-
rowers who had only ''cats and dogs' to offer
| have had trouble to find ready money, or find
| ing it, have been obliged to pay higher rates.
| The expected call from the Comptroller for a
statement of the condition of the banks, which
| in the two years past has come on the 11th and
| 10Th Of December, has also been a factor in the
| disposition of banks to decline loans at this
time, as it is considered desirable to make a
| good showing when he calls. In New York
| there has been no striking change from the
week, previous, but everything has been dis
tinctly in the direction of recovery, the reserves
| increasing over So, 900, 900, and being about a
half million above the legal requirements.
would again reiterate what have said be-
| fore in this column, to buy only those stocks
and bonds which are good, and as far as posi-
BILE to buy!them outright or on very liberal mar
| gins, and though it is not unlikely that prices of
| some things may yet go lower the prospects are
| that solid bottom is very nearly reached, and
with the coming of the new year the reaction
will set in for higher prices. AS an evidence of
| this feeling may add that my orders for the
past week have been unusually large, and rep
| resent customers who buy outright and lay the
| stocks away for the future.
| FRANK ii. PELoUZE, 1885 + street.