The Sunday herald and weekly national intelligencer., 1891-04-12
IN THE STOCK MARKET.
A FAIR AMOUNT GF BUSINESS DONE
LAST WEEK.
Activity in Railroad shares-Some Points
About Telephone Stock-Little Doing
in OBSERVATION-DISCLOSURES Light and
Bank Stocks.

Although the transactions last week were
not large in any single stock the aggregate
sales were of fair proportions and the deal
ings well distributed throughout the list
Washington Gas stock is so firmly held as
almost to preclude transactions at present.
The bid was advanced from 43s to AL, and
the asking price from A. to Ash. But 81
shares of stock were sold during the week.
For 26, a was paid and 25 brought 44l. The
closing bid was 44l.
There were more transactions than usual in
railroad shares. Two little lots Of Washing
ton and Georgetown brought 245. For 40
lexington and Soldiers Home 56l was paid;
2 shares brought 56a. For 10 Belt Rail-
road $50 was paid. But the strongest
stock among the railroads was George
town and Tennallytown, which sold
up from 613 to 63. About 60 shares changed
hands. The buying of this stock is by those
80 situated as to be thoroughly informed of
what they are doing, and it is but reas enable
to conclude that the outlook promises well to
those paying even the high prices now quoted.
The fact that this road will soon have two
important feeders-the Glen Echo and the
Rockville road-glves confidence to those now
taking the stock to hold for an advance.
On small sale of Chesapeake and Potomac
Telephone stock at 5S the bid receded to 81 and
573. The fear to advance the bid on this stock
appears unreasonable when the real status Of
the company is taken into consideration. The
chief occasion for fear is doubtless the fact
that the fundamental telephone patent will
expire in year or two. But it should not be
forgotten that the Bell Telephone Company
has SO thoroughly fortified it's posi-
tion by acquiring numerous other indispen-
sable accessories that the idea that
its exclusive privileges will be for
midably assailed seems almost preposterous.
And it should be remembered that in the ter
ritory where the Chesapeake and Poto-
mac Company receives its chief revenue
namely, in the cities OF Washington and Bal
timore-the difficulties of acquiring the right
to put down underground wires is so great
that, the existing company having secured
the field and the business, the hindrances are
too great for rival to surmount. The in
crease in the revenues Of the company should
not be disregarded. Within year the aug
mentation has been $4,000. And as it is
understood that the company is about TO bor-
row money on bonds to obviate the necessity
OF further dependence on the current revenues
to pay for improvements, it is believed that
by the close of the present year an important
increase In the dividends can and will be
made.
The business in Graphophone stock was
small last week. Those who are buying
cling to the idea that the stock can now be
bad at the prices which prevailed when the
stock was slaughtered by forcing 5000 shares
on the market at once, but 1t is believed that
all of that stock has been locked up in strong
boxes and that but little stock can be found
as low as g. at which but 100 shares are for
sale. On Thursday 100 shares were sold on
the Exchange for 81 and commission, making
the lot stand the buyer 6. Privately 200
shares were sold on accommodating terms at
OF. The only other sales recorded are 20
shares at g, and 10 at 81. 1t can be said for
the encouragement of the holders of Graphic
phone stock that the latest reports from Mr..
Lippincott are favorable to his recovering his
health.
There was considerable animation in the mar
ket on United States Electric Lighting stock,
and the shares for sale were taken at an ad-
vance Of about So per share in the early deal
ings, which continued until an advance of
about $40 per share was secured. The closing
sale was of shares at ITO, with It's the lowest
Offering. The stockholders meeting, which
The HERALD announced to take place at
Harper's Ferry on the 14th instant, has been
called, and it is believed those stockholders
who are on hand will be gratifed in more
ways than one at the good time which Capt.
Thomas, the president, will be able to afford
them.
There was but one sale of West End Bank
stock last week, 10 shares bringing 99s. The
officers of the West End are increasingly
gratifed at the growing business, and an ac-
cession to the working force has been made to
keep from overworking the older clerks.
Columbia Bank stock continues strong
Ten shares brought 100, and 10 159.
The Ohio National Bank stock has been
listed on the Exchange. Thus far there have
been no transactions In the stock. The busi-
ness of this latest banking institution is going
on In a conservative but very promising way.
The deposits are up and down, just as in older
banks. The maximum reached nearly $100, 900
few days ago, the loans about $4,000. The
capital, six-tenths of which has been called in
up to date, exceeds the calls and stands close
TO $4,000, as some of the stockholders pre-
ferred to pay the whole amount down at once.