The Sunday herald and weekly national intelligencer., 1890-03-23
THE WEEK IN STOCKS.
THE STRONG DOWNWARD MOVEMENT
IN GRAPHoPHoNE CONTINUED.
lexington Slumps-Another Boom on Belt
Railroad-Columbia Bank Shows Re-
newed Strength and vigor-Trust Stocks
About Hold Their Own.

To the holders of Graphophone stock the
record of the past week is not calculated to
bring unbounded JOY, or give them any feeling
of strong confidence in the prosperity of their
holdings, as they see the price gradually drop
lower and lower and willingness to sell
whenever reasonably good chance is offered.
The cause thereof is hard to divine, and vari-
Gus reasons are assigned, some asserting that 1t
is simply attempt on the part of certain
brokers to ''bear'' the stock to enable them to
cover their ''short" interest, while Others again
assert that all is not harmonious between the
company and the lessee, Mr.. Lippincott. What
ever may be the cause, the cold fact remains
that the stock daily grows weaker and weaker,
and the brokers who are all ''long of it sadly
shake their heads and ask each other, Where
will it end? The sales for the week aggregate
935 shares, commencing at 15s on Monday, and
gradually dropping to 14b on Saturday, the bid
closing at 13s, with offerings at 144, and
strong belief that bid of $14 would have Sc
cured at least so shares.
The second greatest feature of interest was
the renewed strength shown on Belt Railroad
and the active demand for the stock, 300 shares
being readily marketed at 65, 100 more at 65s,
and 80 at 654, with closing bid of 654, and
none offering 1t is claimed that, notwithstand-
ing statements to the contrary, the control has
not yet been secured, and until such is the case
the stock will be in demand.
lexington followed the usual skyrocket
course by coming down nearly rapidly as it
went up. On Friday, the 7th inisant, 25 shares
brought but 613, on the following Friday sales
were made at so, and on last Friday 20 shares
brought but 20, with a sale Of II shares the day
previous at IS. 1t is stated that prominent
banker cleared the neat little sum of $4,000 by
n-l,o, Ill,
Small sales of 20 Columbia at 20 and 10 at 70
completed the trading in railroad stocks.
The uncertainty attached to Columbia Bank
stock owing to the contemplated changes in the
management were settled on Monday, and
reaction set in on strong show of willingness
to take up all the stock Offering around $50,
the sales being of 20 shares at It's, and on the
day following of 80 shares at $50, and a further
offer to pay even more to secure additional
amounts. This writer has frequently predicted
that by July this stock would sell at 5000, and
there is no apparent reason to change that
opinion. Mr.. Warner has placed the bank on
safe and certain foundation, and his successor
will carry it along in the same improving and
prosperous condition Two sales of 10 shares
each of Capital Bank at 116@117 marks slight
drop from previous figures though it is certain
that an offer to take up any reasonable amount,
say so shares, would carry the price above 100.
This bank is doing we'll and making money for
its stockholders.
The Trust stocks about held their own, 700
shares of the Washington bringing 50, and 20
American Security 80. 1t is expected that Mr.,
Warner, having relieved himself of the cares of
the bank will now turn his entire attention to
the Trust Company, and it goes without saying
that he will imbue it with his own spirit of en-
terprise, which means progress and higher
prices for the stock.
Insurance stocks were generally dull, Peo-
ples alone excepted, 200 shares bringing 81,
with an offer to take as much more at same
price. For Is National Union 204 was paid,
and 10 Columbia brought IS, the highest price
it has yet reached and fulfilling my prediction
heretofore made that it would go to IS, and in
a much shorter time than had stated
Electric Light stock also showed an advanc-
ing tendency, 10 shares selling at III and 10
more at lis, with several small private sales as
high as 1870. These prices mark good advance
over those prevailing early in the year, though
they are still long way off from the predic-
tions of the writer of the Post that by April it
would reach $3.50. But then our excellent con-
temporary does not believe in the merit sys-
TEN.
Gas stock was absolutely without interest,
but that other old-time favorite, Telephone
stock, showed some little animation, with sales
of twenty shares at S54, 20 at $50, and at S53
The speculative fever has entirely gone out of
this stock and the purchases are for permanent
investors.
idenced by the willingness to take up Great
Falls Ice stock whenever it is offered at a rea-
sonable figure The open season has had a
slightly depressing effect on this stock, and the
sales quoted being at 1SO But later re-
ports proving decidedly favorable, the de-
mand for the stock has improved, and neces-
sarily the price as well. Last year it will be
remembered that the dividends amounted to
$l3, or an equivalent of 6l per cent. on 5000,
and there is no reason to doubt that the pres
ent year will be equally as satisfactory.
But one sale of Pneumatic Gun Carriage was
recorded, 100 shares bringing (, (874c,,) with a
continuing bid for more at same figures.
The Bond market was dull, small sales of U.
s. As at 12391234, and ID. G. 3.65's at l224(d
1921, with $1,000 U. S. Electric Light second
at 49, showing the little interest taken in that
class of securities.
The money market continues easy, good loans
being made at sac per cent. and prospects
favorable for long continuance
FRANK II. PELoUZE.
Substitute for the Blair Bill