The Washington critic., 1890-05-12
LOCAL STOCKS.
TransactioDs on the Washington Ex
change-Notes and Gossfp.


TransactiOns on the Washington Ex-
change--Notes and Gossip.
There was a decided improvement in
beth the tone and volume of business on
the Exchange Friday. There were eight
different lots of stock sold and an aggre-
gate Of 450 shares changed hands.
For 10 shares of Second National Bank
stock 1851 was paid. This was low price
Tor this valuable stock, paying, as it
does, larger per cent. on its market
value than any other bank stock on the list.
The dividends are s per cent
per annum and the earnings since the Gov
ernment has rented the larger part of the
bank building are about 16 per cent The
building, besides giving the banks rent
free, yields a sufficient amount to paw
3 per cent. on the entire capital of
the bank. The deposits keep close to
S1,O00,000 and the dividends can be in
creased to 10 per cent. whenever the direc-
tors elect so to do. 1t goes without saying
that Second National will soon be worth
1928, intrinsically, If it should not bring
that price on the market. The deposits of
the Traders are nearly $400, 900 now.
Another small sale of Traders Bank
stock was made-5 shares-at 95, when the
asking price was advanced to 96. Metro
politan Railroad on sale of 10 more shares
fell off to 172 bid. The 10 shares sold went
for 175.
In insurance stocks the only sale was of
70 shares of National Union at 203. There
will be dividend of 80 cents or more paid
on this stock about the 25th of June. The
price realized was fair one,
though few stocks will pay 5 per
cent. on the market value us this will. It
lie more than probable that as the company
is engaged in erecting magnificent build
ing ON street the idea of increasing the
dividend will be abandoned.
There were 300 shares of Pneumatic Gun
stock sold, 200 at II and 100 at IL.
II has been long time since any Of the
Washington Loan and Trust stock sold for
as much as "a, its full paid-in value. Yes
terday round lot of 100 shares brought
this price. This stock is we'll held and the
day is not distant when the company will
begin to I'LL more important place than II
has yet occupied.
There was nothing done in Graphophone
stock. A large holder of stock expressed
Willingness to buy big lots at IS, but the
man to whom the proposition was made
said he would sell a limited quantity, but
named 30 as the price he was willing to
take, If accepted on the spot yesterday.
United States Electric Light stock is
offered with great caution at II, ]. One of
the largest and wealthiest ockholders
is looking around for more stock,
means, is considering the propriety of
making free investment in the stock.
The best bid at the Exchange yesterday
wac 116l.
The contest advertised for this afternoon
at O'Clock at the Office Of the North Capt.
tol and O-Street Railroad Company will
probably not come off as was anticipated,
with the little Folstass as leader In an old
time fight under the Marquis of Queens
berry rules, but will be somewhat on the
order of modern soft-glove encounter, in
which the Belt (road) will go to George l..
Lemon as leader
The volume of business of the local Ex-
change on Saturday not only showed an
encouraging increase, but the stock EN-
hraced IN the transactions were among the
best on the list. For 200 u. s. Registered
As, 1872 was paid. As these bonds have only
seventeen years longer to run-they had
originally thirty-taking into consideration
That nearly II per cent. of which is lost
yearly, and that mole than one-fifth OF the
investors capital now yields no interest,
the net income on 500 bond of this kind,
into which 1922 is invested, $22 of the last
named sum never coming back, the yield
on the investment Is scarcely more than .
per cent. For an individual who can in
vest In absolutely safe securities, yielding
from to per cent, IL is bad financiering
to hold the bonds at their present premium,
Further, the political party now in power
may make such liberal appropriations that
the Government will no longer be buyer,
in which case the bonds are liable to go
down to ll5, perhaps lower. The case is
different with banks AMI trust companies;
they aIe of necessity In a measure required
to keep considerable portion of their
depositors' money IN something which can
be converted into cash instantaneously
But their action should be no guide to the
private investor
For 800 Washington Gas bonds, series A,
l22 was paid. Although these bonds yield
q per cent. on the par, 100, the same reason
ing applies, but with greater force, to them.
For go shares OF West End National Bank
94l was paid, equivalent to 1 premium.
This stock should go much higher in the
not remote future. For 10 shares of George
town ana Tennallytown Railroad 50l was
realized. Those who have daily opportuni-
ties of noting the travel on this road say it
Is doing good business. Hence in time
dividends will be made
The reaction appears to have set in ON
Chesapeake and Potomac Telephone. After
selling AZ S6 because of the diminution OF
dividend from $l25 TO S15 last quarter, 1t
fell to about 80 bid, but as the real value
and stability Of the stock and the conserva-
tive management of the directors were eX-
planned fully IN THE Critic the decline
was checked, and now there are numerous
buyers anxious to secure stock before IL
goes up too high.
For American Grapbophone l4l was paid