The Sunday herald and weekly national intelligencer., 1890-06-01

The special feature of the business on the
Exchange during the week Just past has been
the strong tone and high price of Gas stock
and the "listing'' of the new Lincoln Fire In
surance Company's stock with the activity
developed at the start, the first days sales rep
resenting two hundred shares at 81 and four
hundred at 5s, followed on the next day by
sales of two hundred more at SO and twenty
five at 81, and strong continuing bid of IS for
more, with none in sight at that figure. The
premium paid for this stock somewhat
surprising, and it speaks well for the confidence
the public have in the company and their belief
in its future success and prosperity.
Gas stock has been dormant so long that a
sale is somewhat in the nature of a surprise to
the board, but the special feature of the sale
this week was the high price paid for it, the
highest it has reached for number of years.
1t was offered as whole, and readily secured
461 for the lot of 1872 shares, while on yesterday
465 was bid, with no offerings under 4Sl. 1t is
rumored that there is something good in store
| for holders, and the opinion is generally held
that the price will touch $50, condition which
| has not existed for more than ten years. At
that figure, on the basis Of present dividends,
| it is a net 4 per cent. investment, and is gen.
| orally considered as absolutely safe.
Bank stocks continued in good demand, and
! ferng. For three Metropolitan 295 was paid,
while two Columbia brought 1872. Three Sec
ond National at 195 represented the highest
price yet paid for this stock. Ten West End
| were taken at 1053 and five Lincoln at SS. Three
| Traders sold at 105, and order for ten shares
| was filled at 106.
Electric Light showed continued strength,
| four lots of ten shares each readily bringing
| $780, and five shares reaching 1873, though offer
| ings of larger amounts were made at a lesser
| price without being taken.
| Telephone and Graphophone were both weak,
| the only transaction in the former being one
sale of twenty shares at 73!. The amount of
| Graphophone changing hands was much larger,
the total sales representing 515 shares at 13513,
closing weak at the latter figure. During the
past fortnight over fourteen hundred shares
have been marketed, without changing the
price more than 25 CENTS and the question per-
tinently asked, Where does it all come from is
one of those things that seems impossible to
answer.
An unusual amount of activity in Pneumatic
Gun Carriage and a good amount of buying
held the price firmly at II, at which eleven hun
dred shares were readily sold. The belief in
better things for this stock is growing one,
and it is possible that a small investment now
may bring a good return.
For forty-five shares American Security and
Trust Sc was paid, and for twenty Georgetown
and Tennalytown Railroad SO was considered
fair price to pay. In both cases this is an ad-
vance over previous quotations.
Bonds were without special note, except one
sale of $500 Washington and Georgetown Rail
road convertible at 225, an advance of 1880 over
last previous sale. For 81, 900 Electric Light
second mortgage 6's l30 was paid and 81 900
d. c. 6's of 1891 brought 1O4 These with one
small sale of 5000 Gas bonds at 1929, repre-
sented all the transactions in that class of Sc
curties.
The money market showed some stringency,
due to the fact that the semi-annual payment
of taxes occurred and a large amount of money
was drawn from the banks for that purpose.
Now that the time is past it is probable that an
easy money market may be expected until fall.
Notes and Comments.
The bank statements called for by the Comp
troller and recently published show gratifying
condition of affairs, and that our financial in
terests are keeping pace with the Improvement
in all other enterprises. The total amount of
deposits in the thirteen national banks aggre-
gated S12, ,74S 3O3.09, an increase OF $43S,-
649.H over the statements made on
February 2S. The loans and discounts ag-
gregated $3.50, 1882, an increase of 81 ,1O5,-
564. So for the same time. This increase III de-
posits is especially good when it is recalled that
the month was more than half gone and much
had been drawn out to pay taxes. The figures
in detail generally make good showing, and
the holders of stock have good cause to feel
satisfied with their investments.
Railroad stocks have been without special
feature during the past week, the only sale
being one of 20 Georgetown and Iennallytown.
Several private sales of Columbia are reported,
and higher prices are predicted by those inter-
ested. The dividend of fifty cents recently de-
clared will be due and payable to
morrow, and will be the first one paid
in over two years. This, it is
stated, is to be continued semi-annually, and
will probably be increased to 75 cents, as the
road is now in good condition. Several new
cars are now building, and will soon be in readi-
ness to place on the road. On the basis of
prices recently paid for the stocll-S75 to $75--
the dividend represents 1873 per cent. per an
mum, and yet they tell us that the stock will go
to 80. Evidently railroad stocks are considered
valuable things to hold, as they pay less than
Government bonds.
On Monday the Stock Exchange takes posses
sion of its new quarters in the Adams Building,
1885 street This will probably continue the
home of the Exchange until a building is
of the members.
FRANK IL. PELoUzE, 1918 F street.
| NTiyad Final fop a Man-of-War