The Sunday herald and weekly national intelligencer., 1891-04-05

The untavorable weather and continued alb
sence of important members served to limit
the number and amount of the transactions on
the local stock board last week. 1t is worthy
of remark and deserving the attention of the
unprofessional dealer in stocks that the very
favorable mention in The HERALD concern
ing Washington Gas stock last week, instead
of advancing the quotations, as might have
been anticipated, had the contrary effect.
After having sold recently to the extent of
nearlytw hundred shares at 454 for this stock
the bid fell back on Monday last to 49, The
explanation is the fact that when stock has
true merit and promises to advance in value
the aim of the experienced broker is to keep
it down while he is increasing his holdings,
that the profit of the advance may reach his
own pocket. But so shares of Gas stock were
sold last week. % shares bringing 43s and 55
shares 43s. The closing bid was 43, with A
asked. There are rising values for all forms
of the Washington Gas bonds. For series A
as high 1913 was paid, for the series 1875.
For the new convertible 6's 1873 and 1876 was
realized.
The recent drop in U. s. Electric Lighting
stock has caused much surprise and disap-
pointment. After having sold privately at
100 in large lots and on the Exchange at 1S6
ana 1SO, on Il small OuellnG OIL III SQareS but
100 was realized last week. The rapid ad-
vance IL this stock was due to several impor-
tant n1luences-the favorable action of
Congress respecting the company, both as to
the increased compensation for street lighting
and the addition of valuable extension privi-
leges, but the chief factor was the anticipa-
tion by buyers that on all the stock newly
acquired by them other shares would be
issued at their par value. The action of the
company on this subject is still matter of
uncertainty. 1t is understood that meeting
of the stockholders will take place on Apri
II, to determine by stock vote what method
shall he adopted to provide the means for en-
larging the plant.
1t is considered certain that the u.
s. Electric Lighting Company will receive
the three years. contract which the Commits
sonerS are authorized to make, but the
agreem, 1T cannot be made under the act
until after June 30 next. AS there is no other
company in the District, and no authority save
in Congress to permit wires to be run, there
can be no competition for the lighting.
The business in Graphophone stock was all
done in two days last week. On Monday 100
shares brought 64 300 6, and 200 So On
Wednesday 100 sold for g. 1t is understood
that the large quantity of this stock which
was recently unloaded on this market from
New York has all been absorbed by strong in
vestors, who, it is thought, will hold it for
good profit. The aggregate amount was 5000
shares. 1t is presumed thai Col. G. Payne,
president of the company, would not object
to having it known that, as he holds stock
which cost him 2S, he considered himself fort
unate i'll having the opportunity, which he
improved, of taking in 400 shares at 6.
The industrious secretary of the Exchange
has compiled for the use of the members a
complete resume of the business done on the
board for the month of March. This yalua
BILE statement shows that 3, 3,161 shares of
Graphophone stock were sold during the
month. The lowest sales were at 81, the high
est Il. In Washington Gas 1,36S was the ag-
gregate number of shares, 424 the lowest, and
459 the highest. But IS shares of U. S. Elec-
trio stock were sold, and the highest was at
1S6, the lowest 167, during March. In Colum-
bia Insurance stock the aggregate sales were
397, 197 at 15a, and 200 at 154. The aggregate
sales of Washington Loan and Trust stock
were 32 shares, the highest 9S, lowest 95s.
But space forbids further extracts from this
valuable summary.
Among the sales of bank stocks last week
were 3S shares of Farmers and Mechanics
National, 30 at 1921 and at 193 This is
valuable security, and believed to be richly
worth 200 There was better price quoted
for West End Bank than has been paid re.
Gently for this stock. Twenty shares brought
the full par value, 100, after sales at the open
ing OF the board on Monday at 9S4 and 90.
The officers of the West End Bank are highly
gratified that their change of location is real
izing their anticipations ofincreased business.
For Columbia National Bank stock 165 was
paid for 10 shares on Monday The closing
bid Was l60 ex-dividend, with no stock offer,
ing. The dividend was $1.50 Lincoln Bank
stock is in good request, and is readily taken
as fast as offered. The only sale last week
was of shares at 102.
There were no sales of railroad stocks on
the board last week. Privately for 40 shares
OF Columbia 704 was paid
The new bonds to be issued under a recent
act OF Congress, to be sold to redeem District
securities which will begin to mature in July
next, are now in course of preparation at the
Bureau OF Engraving and Printing. The de-
sign is nearly ready as approved by Assistant
Treasurer Whelply and Superintendent CAST
lear, OF the bureau. The bonds will be all reg
lstered and in denominations of 81 900. $500
and $lG0. The rate of interest will be 3i per
cent
: At the close of the week there was an active
demand for Columbia Insurance Company
stock, wits the bids advanced from 1872 to 161
and the asking price going up from 164 to III.
This advance is doubtless due to the good
showing about to be made at the annual
meeting early next week.
Production of Iron Ore in 1890.