The Sunday herald and weekly national intelligencer., 1891-03-29

Although the business of the local stock
board was interrupted by the omission of the
usual 'call" on Good Friday, the showing for
the week is q very fair one.
The transactions in Washington Gas stock
were unusually large. The sales aggregated
Cos shares. One block of 500 was taken at 44s
by buyer thoroughly acquainted with the
present and future value of this property. 1t
may be safely remarked that never before has
the stability OF this stock been so thoroughly
established About thirty-seven separate
attempts to obtain a charter for an
opposition company have been success
fully combatted within the past forty years.
The public has now no occasion to find fault
with the quality Of the gas furnished, with the
price charged, nor with the supply. A few
years ago the mains were inadequate to afford
the proper pressure and the company was un-
justly blamed, but now no such complaints
are ever heard. A stock as safe as this pay
ing per cent on $50, with sure promise of
occasional extra dividends, cannot remain
long below $50 per share
Although the transactions in Bank stocks
are small, there are buyers on the alert for
bargains. For Columbia Bank 165 was paid
for five shares. This is rise of over $40 per
share within a brief period. There is every
indication that this stock will begin to be
better appreciated before many months, for it
is manifest that at any time an important ia
crease in the dividend is likely to be made
There is good demand for Lincoln Bank
stock and privately very much higher bids
are made for the stock than are current on
the Exchange. For eight shares on the board
but 101s was realized. Privately 105 was
bid. The following circular has just been
issued by the Lincoln National Bank:
WASHINGTON. D. c.. March %, 1S9l.-To-day
the Lincoln National Bank reaches Its first an
niversary. It is with pleasure and satisfaction
that we submit for your consideration the fol-
lowing statement OF our condition at the close
of business March 20, 1891. The statement
shows that our institution is prosperous, and
that our banking facilities are appreciated. 1t
is our aim aud mbtlon to double the business
the second year, and to accomplish this we rely
on your continued influence and support. By
courteous and polite attention TO our patrons,
we hope 10 retain their esteem and confidence.
JESSE B. WILSON. President
Space requires that the statement shall be
condensed:
Loans and discounts. 1864, ,701 12
U. s. bonds and premiums. 10000 90
deposits 40, l51 S3
Cash resources 233, ,067 0S
Surplus and undivided profits....... $500 Sc
There are 1,703 individual depositors. The
L..
Bradley Davidson; Frederick A. Stier, cashier;
II. F. Bauer, paying teller, and Paul FL. Crom-
cline, receiving teller. These gentlemen have
shown themselves deserving of public conf
dence, and merit richly the success which has
attended their intelligent efforts to promote
the prosperity Of the bank.
AS the success of the national banks which
have started within the last five years is fire.
quently measured by the phenomenal success
of the Columbia, it is interesting to note that
fhp M nIVS Qff oil tbc1
experience, where the former stood after thir-
teen months OF unprecedented prosperity.
The Columbia entered on its prosperous
career on January, Z, 1887. In February IA,
1888, its loans and discounts were $3.50, ,S96,
and its deposits $437, ,281.
The opinion expressed in THE HERALD of
last week that the depression in Graphophone
stock had about reached a elimination was
very thoroughly verified. On Monday 100
shares brought g; so, 81; so, 81, and $50, 81,
the lowest price ever reached. 1t is an open
secret that well-informed dealers, feeling well
assured that considerable quantity of this
stock would be forced on the market by the
persistent lowering OF quotations, have
quietly held aloof until the catastrophe ar
rived, when the stock was quickly gathered
in, both privately as we'll as on the Exchange
and is now held for much higher figures than
have prevailed for many weeks. The stock is
now selling for 65 to 81.
1t is generally believed that there will be no
dividend declared for the 18th of April, though
very favorable results may be reached in so
brief period as three weeks. 1t is not i'm
probable that Mr.. Lippencott's bondsmen,
finding that the American Graphophone Com
pany are masters of the situation, may be glad
to take steps to raise $4,000, the sum re-
quired to remove his default and save
TO the New York company the valuable
franchises and privileges which otherwise
revert to the American company. 1t would
be well for holders of Graphophone stock to
bear in mind that the success of both the in
struments, the phonograph and graphophone,
is all that can be desired. Mr. Lippencott's
lack OF success was largely due to his insist
ing until too late that the machines should
be placed at a rental higher than the general
public could afford TO pay, namely, $40 per
year, besides incidental expenses Had he
on the contrary, been willing to accept a
profit of 400 or 500 per cent, which he could
have readily realized, he would have reaped
one OF the greatest successes of modern
times. The cost of the machines Including
the royalty, hardly reached $35; 400 per cent.
would have brought their value up to Sl40.
If the purchaser considered his money worth
per cent. the yearly rental would have been
less than 50 for each machine. In this calcu-
laton nothing is allowed for the Compare
lively limited life of the instrument, but, like
a sewing machine or piano, the old one after
years of service could always be used to ad-
vantage in exchanging for one having the
latest improvements.
1t is not generally known, but none the less
an important fact, Notwithstanding the severe
criticisms frequently heard against the direc
tors of the Graphophone Company, that IN
framing their original contract with Mr. Lip
peneott they reserved the right, for very mod