The Sunday herald and weekly national intelligencer., 1891-04-26

While there was fair amount of business
transacted last week on the local Stock Ex-
change, there is little that can he said that is
new respecting any of the securities which
changed hands.
There were no sales OF Washington Gas
stock until Saturday, 20 shares going for AL.
On Wednesday the lowest offering was at 46,
the best bid "a. Tie closing bid was the best
of the week, 44l, with small offerings at 45.
A high authority on this stock, such as is en-
titled to credence, says that the books CT the
company show that the stock is intrinsically
worth so per share.
The dealings last week in Columbia In
surance stock were larger than usual, with an
advancing tendency in prices. The first sale
was at 1863, the last at 162 But for the fact
that an unadiusted loss Of long standing re-
quiring $4,000 and the loss by the Blaine fire
had to be wiped out at the same time, the
gain in the surplus of the Columbia would
have carried the reserve to nearly $114 900;
but the receipts of the company were so large
that these heavy payments were met without
reducing the reserve below 900. Closing
bid, 161; lowest Offering, II.
Last week promised to be one OF enthusiasm
in United States Electric Lighting stock, but
a damper was met when it was declared that
the privilege of subscribing for bonds at par,
which was held to be of considerable value,
had been declared by the directors good only
to the holders OF record on the 18th instant,
day already passed, the desire to obtain the
stock abated, and much adverse criticism was
heard concerning such unusual action. 1t is
the general custom to issue circular show
ing who are entitled to such privileges, nam
ing clearly when they will expire, that each
stockholder may act in the premises as his
individual interests prompt. The directors
claim that their action was to prevent those
who might have inside information from TAX
ing advantage of those not so well informed.
The sales of the stock were % shares at III,
the buyers claiming the bond rights, and 10
shares at IT'S, when the privilege was
either understood to be of. or at least in
doubt At the close the bid was IT'S, with no
stock for sale under 1856. The governing
committee of the Stock Exchange, in order to
set at rest the question of the bond privilege,
recommended to the board that all stock
changing hands between the members should
carry the right to subscribe for the bonds be-
tween the 18th and the 23d of April. After
that date the previous holder would exercise
the privilege. The recommendation of the
committee was ratified by the Exchange.
The sales of Metropolitan Railroad stock
were 10 shares at 119 and 10 at 1171. Dill
gent inquiry fails to confirm the rumor that
the Metropolitan road is about to issue stock
at less than its marke value.
There appears to be a disposition to let
Washington and Georgetown Railroad stock
60 at 245, but at no less. The quantity for
sale is limited The holder who bought what
he has at about 220 is willing to let 1t go at
what he thinks moderate profit, but after it
is all gone it will probably be long while be-
fore so favorable an opportunity to get this
valuable stock may be again offered. 1t
came from an estate now settling In New
York City and was cut up into lots of five
shares, so as to be in convenient shape There
were Is shares in all sold at 245.
All the other Railroad stocks are firmly held.
For 25 Belt Line SO was paid, 20 brought 534,
and 524. For 25 lexington 55l was paid.
The offerings of Graphophone stock are SO
lighta to be scarcely worthy of mention; 80
shares sold for 81. In the early days Of the
week it was thought to be dangerous to con-
tinue the offerings at 6, but when a member of
the board who was trying to buy offered to
sell at o. the bears on the stock took fresh
courage and returned to their old tactics of
proposing to sell at 6. All persons seeking
to buy Graphophone stock must, to make sure
of obtaining it, send their orders to the board,
by low offers essay to sell have their
offers accepted. Privately no stock can
be bought The directors of the
Graphophone Company are neither discour-
aged nor idle. They fully realize the value of
what the company owns, and are maturing
plans to reinstate Mr.. Lippencott; falling in
this, to prepare for sale 4 900 machines, which,
at low estimate, 1t is believed will realize
StUU,UuO, OF SlUU each. Inc macnlneS are
wanted, and the opportunity to get them will
be hailed with enthusiasm. A Washington
man to whom this purpose of the company
was disclosed said: 81 will take three at once
and can get orders for fifty in a day." At the
close firmer tone was manifest in the mar
ket, with bids for less than 100 shares at 81,
with no lot of 100 shares for sale below T.
The demand for good Bank stocks contin-
ues. The strength of West End is apparent,
27 shares bringing l0l. The demand for Lin
coin Bank is good, and those best acquainted
with the property of the institution are buy
ers, since the statement published in THE
HERALD at the close of the first years busi-
ness showed the deposits to be about $3.50, 900.
The aggregate at the close Of business on Sat
urday were $4S0,000
There were 20 shares of National Capital
Bank sold on Saturday, or rather the same 10
changed hands twice, showing an advance
during the session of the board The final
sale was at 1874. At the close the lowest offer
ing was at 1851 There are few banks in the
District which show a prosperity equal to that
of the Capital National.
There is steady demand for Washington
Loan and Trust stock, with a decidedly firm
tone to the market In fact, q very large
quantity of this stock is wanted at the present
low value. The sales of the week aggregated
So shares at o.
There is great ease in the local money
market, and on all good collateral securities
loans are readily made at moderate rates