The Sunday herald and weekly national intelligencer., 1891-05-03
LOCAL STOCK MARKET.
THEwEEK'S TRANSACTIONS DEVOID
OFF SPECIAL FEATURES.
Bank Stocks Continue to re Firmly
Held-The Lincoln and Ohio Ma
tional-The Electric Light Company
Washington Loan and Trust.

The transactions last week on the locsi
stock exchange we're but of moderate proper
tions, with no specially notable feature. The
offerings of Washington Gas stock were light;
but 40 shares changed hands, all at AL. The
closing bid was a., with small offerings at
44s. There was a strong market for the con-
vertible Gas bonds, with sales aggregating
nearly 1900 at 1876 and 1861.
The demand continues good for Columbia
Insurance stock, though the offerings were
small The entire sales were less than 100
shares, all of which brought 16l ex-dividend.
Lincoln Bank stock is held with great firm
ness, with very small offerings. The only
stock sold on the board brought 103. At the
close the lowest Offering was at lO4 The
present showing of the Lincoln Bank is the
best in its history, the deposits reaching close
to $780, 900, with loans to correspond.
Thus far no one has been willing to offer
any OF the stock of the Ohio National Bank
for sale, possibly for the reason that the busi-
ness of the bank is developing so satisfactorily
that the stockholders think it good thing to
keep. On May the amount of capital paid
in was $149,32O, exceeding calls on the stock
holders SO, 800. The deposits were $Ss, ,931. .35;
=
There is apparently disposition to force
down the quotation on Bank of Washington
stock. The offerings during the week were
lowered from 455 to $50. The highest bid was
447, the lowest AS. Five shares sold for 449,
against sale recently of 460. This stock is
intrinsically worth more to-day than ever in its
history.
There is a steady demand for Columbia
stock, and those well acquainted with the
growing prosperity of the company say the
stock is selling for less than the constantly in
creasing earnings and growing surplus war
rant. The sales were 200 shares at 3-16.
The sales of United States Electric Lighting
stock continue small. But ten shares were
sold during the week 1t brought It's. AT
the close on Saturday small lot was offered
at 175.
During the week an important circular was
issued by the United States Electric Lighting
Company, to the effect that at the meeting OF
the stockholders on the 14th instant authority
was given the directors to increase the capital
at their discretion to 1000, 900, but the issue
for che present was limited to $1,000, 900,
which, as the capital is now 5000, 600, makes the
actual increase but $SOO,0O None of the in
crease will be put upon the market, but will be
issued to the American Security and Trust
Company of Washington, ID. c., as trustees,
to secure an issue of 100000 of convertible
debenture certificates. Said certificates will
bear date May l, 1891, and bear interest at the
rate of 5 per cent. per annum, payable semi
annually upon the 1st day of May and No
vember of each year, until the 1st day of May,
1901, the date Of their maturity, ten wears
from date. But any holder thereof, on the cd
day of May, 1894, and on the I'd day of May
and November thereafter, during the life OF
said certificates, may convert the same into
the capital stock OF the company, at par, upon
surrendering the same, with all unmature6
coupons due thereon, to the said American
Security and Trust Company of Washington,
ID. c., trustee, at its Office in this city. OF the
SSOO,OO0 of convertible debenture certificates
as above the issuance was restricted to $500, 900
until otherwise ordered by the stockholders in
meeting assembled, and the directors were in
structed, in case of sale of said certificates,
to first offer them to the stockholders pro
rata, at par, under such restrictions
as the board might deem best.
At a meeting of the board of directors held
April IS, 1891, the following resolutions
were adopted
"Resoleed, That 100000 of convertible de-
benture certificates, authorized at the meet
ing of stockholders April IA, 1891, be offered
to the stockholders of record April Is, 1891,
pro rata, at par, payment for the same to be
made as follows so per cent. on or before the
18th day of May, 1891; 25 per cent. on or be-
fore the 18th day of June, 1891; % per cent.
on or before the 1st day of July, 1891.
"ResOlced, That all stockholders falling, on
or before the 18th day OF May, 1891, to sub
scribe for their pro rata of the allotment OF
100000 of convertible debenture certificates
thus authorized, and to make payment OF so
per cent OF the amount of said subscription
by said date, shall be considered as forfeiting
all rights under said allotment
The'sales of Graphophone stock We're merely
nominal. But ffteen shares changed hands.
1t brought 81.
The stock of the Washington Loan and
Trust Company is held with increasing firm
ness. No stock is offered at less than 9S, with
the bid continuous one at 96. The present paid
in capital Of this company is 100000 and by
the terms of its charter enough more to make
next December. The officers express them
selves well pleased with the constant increase
in the amount of money left on deposit,
which for several months has averaged 81 900
per day
Consumption Surely Cured.
Editnr. Plaasa inf form ,-lnrlr r.an.lnre