The Sunday herald and weekly national intelligencer., 1891-04-19


Stock Exchange. The range of the business
is broadening and the number andimportance
OF the transactions steadily growing. The de-
mand for Washington Gas stock continues.
For 100 shares 45 was paid; Is brought 45i
and 15 45s. These sales were with the quar-
terly dividend OF so cents per share, which
prior to April 10 goes to the buyer. Later 20
shares sold for Al, ex-dividend. The Con-
vertble Gas bonds brought 1856 for S4.14 and
1854 for $S34.
The offerings of United States Electric
Lighting stock are very small. For shares
1904 was paid, for 172 and for 10 175. The
closing bid was 1741, the offering at 1870.
Great harmony prevailed at the meeting of
stockholders of this company held at Harper's
Ferry on the 14th instant. Nearly all the
suggestions of the president and directors re-
specting the ultimate increase of the capital
to $2O00,0O0, as the growth of the COM
pany may demand, and the issue of
debenture bonds were approved. The stock
will be pledged with some trust company
in an amount sufficient to cover a simultane-
Gus issue of bonds bearing but per cent. in
terest, and at the expiration of three years
from May l. 1891, it will be the privilege of
each holder to have his bonds converted into
stock. Should the company continue to pros
per, as now seems probable, at the expiration
y
the conversion of the bonds into stock. The
suggestion of the directors that the 100000
worth OF stock, at its par value, which the
company has realized upon as collateral secur-
ity, shall be sold at its full market value, and
after the payment of the loan upon 1t the re-
mainder of the money be held in the treasury,
was not ratified, but the will of the stock
holders that 1t be issued at par pro rata pre-
vailed. This issue will probably not be made
for several months An important benefit,
tt l~1Is.
to confer on the stockholders before the lapse
of many months, is withheld from publication
from prudential reasons
There was but one small sale of GRAPHIC
phone stock last week. Ten shares brought
81. There are indications that home buyers
are losing opportunities which non-resdents
are glad to improve. By request the details
of large sale out of town are withheld from
publication. 1t is believed the price was con-
siderably better than little lot of 100 shares
is daily offered for on the board. A resident
holder of 500 shares of this stock, which cost
him 30 has signifed his wish to take 1900
shares at stated prices, but the melancholy
fact must be told that he and all in the same
category have already let the golden opportu-
nifty to get cheap stock pass. 1t is belieyed an
effort to pick up 1000 shares of Graphophone
stock would carry up the price to 10. AS has
already been stated, Mr.. Lippencott's health
is much improved, and it is extremely proba-
BILE that man as young as he Is may entirely
recover. In discussing Graphophone proba-
bilities short time ago a leading man re-
marked, "Mr. Lippencott would have been all
right had he not undertaken to do too much
personally. Even the panic could not have
interrupted his prosperity had not his health
failed" committee consisting of the pres-
dent and two directors of the Graphophone
Company has been appointed to confer with
Mr.. Lippencott and some of his strong friends
to arrange to remove his default and have his
relations with the company restored
There is a good demand for American Sc
curity and Trust shares, and an opportunity
to get the stock at even slight concession
from its paid-in values is no longer enjoyed,
as was the case when the difficulty of obtain
ing collateral loans was greater than at pres
ent. Two small lots, 81 shares in all, brought
30. the present face value of the stock. 1t is
believed that soon after the remaining assess
ments shall have been paid In this stock will
command premium. 1t is difficult as yet to
accurately estimate the net earnings OF the
company, but 1t is thought that dividends of
s per cent per annum can be paid. The pub
lication of the official statement of present
capital and other items will be found valuable
to those who are interested in the prosperity
OF the company. The paid-in capital April II
was 81 1856, 600; deposits for which the COM
pany pays 2 per cent. per annum, $430, 900;
loans, 81 ,074 ,487: cash resources, 1858, $50 Sd
This is record of which any bank or similar
institution may be justly proud.
On but small offerings there was some I'm
provement in the price of Chesapeake and
Potomac Telephone stock. Twelve shares
brought 5S4 and sold for 594, which was
equal to 90, as the seller will receive the divi-
dend of rs cents. The lowest offering of this
stock at the close was 62, ex-dividend.
Metropolitan Railroad stock is again at
tracting attention. For Is shares 1l9 was
realized; 20 brought 121, and 10 1913, the
best prices showing an advance of $5 per share
over sales made few weeks ago. There are
rumors, which have received but limited cir
culation, of a proposed benefit to the stock
holders by the issue of stock below market
value, but as far as can be ascertained il
would not be safe to assume that the reports
have good foundation for credence.
There is a continued demand for good bank
stocks. For 5 shares of National Bank OF
| Washington 460 was paid. While as an i'm
mediate dividend payer this investment might
not equal some other bank stocks, the stabil-
ity and prosperity of the institution, it is be-
lieved, will ultimately justify the purchase.
| For 10 Farmers and Mechanics' 1876 was paid
West End Bank continues to look up. Twenty
shares brought 991 and Is 1901. AS the West
End Bank has been designated as a place
where gas bills may be paid the new location
is augmenting greatly the deposits received
from this source. There is disposition on
the part of the company to allow such depos-
its TO accumulate.
There is steady demand for Lincoln Bank
stock, but no disposition to force up the quo
l0l3 and shares l0l At the close there were
no shares offering.
There is a steady demand for Belt Railroad
stock. The only sale was of 81 shares at So
This company is keeping up with the improve
ments the age demands-grOoYed rails to be
followed by better motive power. The de-
mand for Columbia Railroad stock is constant