The Sunday herald and weekly national intelligencer., 1890-11-02

Apparently the process of liquidation is still
going on, and the dropping out of various hold
lngs here and there is pretty strong indication
that good many Of the weak ones find it nee
essary to lay down their hands and pass out of
the game, accepting their losses with as much
philosophy as they can muster 1t is also toll
erably apparent that number of wiser ones
who bought in before the boom of last fall com
menced are accepting their profits where they
exist, and, though of course regretting that they
did not sell last spring, are now taking time by
the forelock and are getting out before prices
again get back to bedrock, to which all the in
dications so strongly point. With the month
of November that time of general
stringency owing to the money required
for taxes - before us the prospect is
not particularly encouraging, and the bears are
likely to remain in control during the entire
time. Conservative men have been predicting
all along that change must come, but their
opinions have passed unheeded on unwilling
ears, but they have now the satisfaction of
seeing their predictions more than realized A
comparison of the prices at which our local
stocks are selling now and those prevailing last
spring shows with but few exceptions very
considerable loss, and these few exceptions
serve but to emphasize the fact that most of
them had been too high, and hence easily
dropped when the stress came. That the strin-
gencv will continue during the balance OF the
looking for good times have placed the date of
its return beyond the end of this year, now fort
unately but q short time off. In the mean
time little confidence and the proverbial stiff
ness of the upper lip and all will come out
well.
1t looked like old times on the Exchange the
past week to see those old favorites, Gas and
Telephone stock come to the front and meet
with an extra amount Of attention. 1t also
showed the strong tone of that prime security,
Gas, that it held so well when so many others
were losing ground, 70 shares bringing 465, %
going at 46i, and 200 readily bringing 46!, with
an apparent willingness to take an
unlimited amount at this latter figure
Large private sales at 462@47 are
also known to have been made during
the week. In Telephone six lots, .aggregating
G5 shares, readily secured 70 with strong con-
tinuing bid for more at same figure Washing
ton Loan and Trust was prime favorte in the
early part of the week, 1888 shares readily
commanding Al. The public demand for this
stock is very much improved, and yet it seems
unable to reach par But one transaction is
noted in the American Security, lot Of 80
shares selling at 67, representing premium of
4.50 over the amount paid in.
Next in point of interest was the Columbia
Title Insurance, 595 shares finding ready mar
ket at 81, while 70 brought l-16 better and 26
secured 6B. This stock holds remarkably well
at 6!, and appearances indicate that this figure
is the one set below which it cannot go.
In bank stock the trading was confined to
Lincoln and Traders, small lots Of the former,
aggregating IA shares bringing from 11S to 100,
and 40 of the latter selling at l25, with one lot
of going at but 124s 1t should be remem-
bered that there has been 120 paid in on this
stock, and therefore the sales at 125 represent
premium of but IS, while all the others are on
the basis of 500 paid Three shares of Capital
sold at 1919, slight advance over last sale.
In railroad stocks Washington and George
town took a further tumble, Selling at a49I@S43
in four lots of shares each, making drop of
II points from last previous sale. At this point
1t steadied and the prospects of further drop
are not probable. For 40 Columbia Railroad
70! was considered a fair price to pay, though
with the small rate Of dividend paid it is a mat
ter of surprise that it holds SO well, The figure
on Capitol and North o, more popularity called
"Belt,' has followed the general decline, and
sales this week show the first drop below 60.
The transactions show plainly the attempt to
''scalp" the market, % shares selling at 500 and
20 more at So followed by one of so on tho day
following at 80, at which price the drop was
checked and 10 shares on yesterday brought 60,
the scalpers evidently having accomplished
their purposes, and changed their tactics.
Insurance stocks were rather more plentiful
than usual, and the prices marked the same
losses prevailing in all the othergood things,
two lots of 100 each Of Columbia bringing but
16B0l64, while an equal amount of Riggs
dropped out at s, in both cases showing con-
siderable loss from former figures. Other sales
were of so Peoples at 81, 25 National Union at
204, and 100 Commercial at AZ and 25 at AZ, this
latter being below par.
Electric Light, as it should shines out bril-
liantly amid all this general desolation, the
price holding strong at $50 and better, shares
bringing 1875 and 20 more 157. The day of cleo
tion is still ten days off, and until then there is
likely to be music in the air.
AS one of the brokers remarked, it takes but
little money to buy whole lot of Pneumatic
Gun stock, and yet it was noticed that when
lot OF 600 shares was dumped on a bold
broker without any previous warning he did
not show that calm and peaceful complacency
that might be supposed to pervade one really
wanting that much of the stock. And vet it
only cost him 95 cents per ahare.
Like the dessert, the best always comes last,
and what could be better than that dear old
friend, Graphophone. 1t is dear to many in a
double sense, because the writer has in mind
now many good and noble citizens who are
still holding on to stock that they paid $25 and
even more per share for 1t is true, in the
light of recent sales, they paid rather too much
for it, but then they have a good thing
and good things always come high.
1t is a matter of great surprise, however, that
as soon as the dividend was declared the stock
gradually weakened, and on publication OF the
annual report it took further tumble The
transactions of the past week We're fraught
with considerable interest and caused even
more excitement than usual. In the early part
of the week it was learned that some large
holders were becoming weary, and the bears
commenced to hammer prices down and sue
ceeded fairly well. On Thursday it was re-
ported that large holder was in need of
large amount of money and was Offering his