The Sunday herald and weekly national intelligencer., 1891-05-17

There was but a moderate volume OF busi-
ness on the local stock exchange last week,
with no special features. very lively In
terest was showni in Graphophone stock, but
on account Of the small offerings the business
was confined to but 80 shares for the week.
In fact, the same Is shares did duty twice.
1t was sold at first at 81, and later changed
hands at 6. 1t is believed that buyers could
have been found for 500 shares at 6, but when
such eagerness was shown to get the only 100
shares to be found for sale the offer to let 1t
20 at 81 was withdrawn and the
asking price moved up to Z. Every
thing in the Graphophone Company is
working satisfactorily, and arrangements
will soon be perfected for placing the
machines on sale directly by the company,
and as there are no debts 1t is extremely prob
able that dividend payments can be resumed
by the middle OF July. Those who are trying
to buy Graphophone stock overlooked several
important considerations In their apparent
determination to do without the stock unless
il can be had at about the prices 1t sold for
under the pressure brought upon the market
when rumors of MIR. Lippencott's failure were
followed by the wholesale slaughter OF the
stock when 5000 shares where thrust upon
this limited market at one time. The fact
that such large quantity could be
people were convinced of the intrinsic value
OF the invention. Investors also forget that
there are few owners OF Graphophone stock
whose holdings cost them less than double
the present asking price for the stock They
should not lose sight of the fact that the
brokers who exerted so potent an influence In
forcing down this stock have all that they can
do to provide for the little engagements they
have already on hand, without undertaking to
feed market that begins to look enthusiastic
with borrowed stock.
The transactions in street railroad stocks
last week were unusually light. For shares
of Washington and Georgetown 225 was paid.
The closing bid was 213, with 235 asked.
lexington Railroad stock appeared firmer;
after the sale of shares at so, 20 shares sold
for 511, although on Saturday some one was
bold enough to offer TO sell 20 shares at so.
This road is prospering. The Sunday trade is
especially large. On the 10th 5000 fares were
collected. 1t is understood that the $4,000
bonds which this company will issue will OBJ
viate the necessity of ever requiring any
further payments on the stock. A letter just
received from Philadelphia shows that six
battery cars are now ready for this
road. and in few days they will be running
The two that are now in use will be with
drawn, as they were simply leased for use
until those ordered could be built.
Among the bargains picked up last week
in the exchange was 10 shares of Great Falls
Ice stock at $50. 1t is believed that thi
stock has not deprecated in real worth, since
it sold less than year ago at 225.
The sales of U. s. Electric Lighting stool
continue slight; Is shares were taken at 165
The lowest Offering at the close was at 169
with 1613 the best bid. 1t is understood
that the 100000 of bonds allotted to tn,
stockholders of the u 8. Electric Light Com
pany were all subscribed for except wher
the privilege was not exercised from inadver
tence.
There were no sales of bank stocks las
week, though prices generally were well sus
tanned.
The asking price for Columbia was ad
vanced to 159, with 153 bid. Lincoln too wa
firmly held, with 1O6 the lowest offering. TIL
bid on National Capitals nominal at 1913, wit
no stock for sale.