The Sunday herald and weekly national intelligencer., 1891-07-19

1t is doubtless not little comforting to the
members OF the Washington Stock Exchange
to reflect that although there was last week
an almost total absence of transactions, vet
this condition OF things is not confined to any
one locality, but is Of almost universal appli-
cation. The present is an occasion when
philosophic axioms and anecdotes even may
serve to cheer the dependency incident to the
situation. The Historian Allison, who, by the
way, was writer of no mean abilities on the
subject of finance, says, in substance: "The
world of finance moves as it were in cycles,
succeeding each other A panic is followed
by season OF more or less depression; in
ereasing confidence ensues, resulting in
still further growth Of prosperity; ere
long q foodtide of wealth invades
the whole community, to be followed
by reckless speculation, ending in panic.
"But," says this astute author, ''it is always
well to remember that no condition, however
prosperous or however discouraging, will
prove continuous and to illustrate this
point he relates this impressive anecdote:
''Ihere was an Eastern potentate who called
upon the sages of his kingdom to compose for
him brief motto short enough to be en-
graved in a ring, which should be equally
applicable to times of prosperity and periods OF
adverslty. Many were the wise sayings sub
mltted Tor his consideration, but this was the
one selected. This too will pass away'
The application is obvious No matter what
may be your present prosperity, remember
that 1t may not continue, and when ready to
despair because Of adversely that 'This too
will pass away"
The only sale of railroad stock on the board
was that of 25 shares of g Belt' at 40.
The sales of the Belt line bond rights were a
prominent feature of the board transactions;
5000 brought 1901, $2625 brought 1901.
Outside the board large lot Of about 50, 600
SOLD Tor the nominal premium of $40 for the
whole lot. The bonds which the 'sBelt' line
are about to issue, it is believed, will prove a
fayorte investment. The security is thought
70 De undoubted, first mortgage on all the
property and franchises Of the road, and as
the bonds will run for 30 years even at a
premium of 10 per cent, spread over SO long
period would be considered nominal.
There was but one sale of trust stock. Two
shares OF American Security and Trust
brought 81.
The United States Electric bond rights to
the extent of $733 brought 110l
AS i is not unlikely that the recent decision
et g New York court respecting a suit which
the Edison Company instituted against the
United States Electric Lighting Company
might easily be understood as adverse to the
local company of the same name, it may be
IL place to say that while the local United
states Company had originally close relations
Win ne parent company Of the same name,
there is now no connection whatever and the
decision in question will result to the profit of
the local company for this season. Two or
three years ago the United States Electric
Lighting Company, of the District of Co
lumbla, bought from the Edison Com
Pany Tor an almost nominal consideration
1he right to use every invention owned by the
latter corporation, and also the privilege of
selling TO the Government and others run
ming private electric plants everything
requisite for their equipment and mainte-
nance at very remunerative profit
One of the financial events of the week was
che cal by the Comptroller Of the Currency
on all the national banks of the country for
statement OF their condition on Thursday, the
9TH day OF July. There is no portion of the
country where more ready response is made
to these calls than in the District of Column
Ola, showing that the banks here are con
Quoted with such care and conservatism that
no preparation is necessary before a full
statement OF deposits, loans, and profits is
ready for publication.
There is a good demand for Graphophone
storE. and the board quotations are somewhat
nominal-4 bid, asked Privately, so shares
of TINS stock brought 81. There are rumors
mat quite large block of Graphophone stock
Is wanted by member of the board, who has
The reputation of knowing what to buy and
when good property is offered at low
price One Of the active young bankers of f
street, when asked Saturday afternoon what
eouIu pe bhlu ABOUT Lne local STOCK market
which would be interesting to investors re-
marked: ~ have only this to say. For those
who aTe seeking to invest money have never
KNOWN a better opportunity to obtain good
bargains, and am acting on the conviction
ahat Washington securities are cheap, and am
dAking them at the present quotations when
ever they are offered"
Half Rates to Detroit via Il. a. o. RR
For the annual encampment G. A. R. to De-
oroit, August to s, the B. & o. R. r. will sell
round.trip tickets from stations on its lines
east OF the Ohio river at low rate of one fare
for the round trip. Tickets will be sold July
81 to August 3, inclusive, and will be valid
returning until August IS. An extension of
limit until September 80 can be secured by
depositlng return portion of the ticket with
railroad agent at Detroit. Travellers via
B. q q. pass through historic battle grounds
and cross the Allegheny mountains With the
most picturesque scenery in America "a con- on
stantly in view.
"Faust Beer'' is old
ConsumDtion Surely Guran