The times., 1899-12-24
TELEPHONE STOCKS
The Local Security Market,

The general tendency Of prices on the
local stock exchange during the past week
has been downward in sympathy with the
weak security markets in other cities. 1t
IS a most encouraging commentary on the
excellent character of local securities gen
orally and on the present admirably strong
local financial situation that the losses in
prices have been small and of little i'm
portance. II is probable that there is not
another city Of the size of Washington
in the East in which security values have
been so little affected by the general ad-
verse conditions Banks have not under
written new industrial combinations during
the past year and investors have had to 90
elsewhere to put their money into the new
securities that have been ioated so literally
throughout the country Even the small
declines made probably would not have
occurred except through the difficulties of
local people who have been speculsting IN
fortunately in the New York market
Mergenthaler Linotype sold down early in
the week 70 the lowest price in recent
months, lgi eX-diVidend, but since that time
il has advanced gradually, and yesterday
sales were heavy at from 1872 Ia to 1913 Ii
4 block Of 100 shares was bought quickly
at 192 ga by one of the recent heavy sell
ers. The decline was caused by the sale Of
stock that had been put up as margins Oh
New York Stock Exchange speculation. A
good part OF the buying was for investment
accounts, and it should be considered much
better than the selling. The bid for Mer-
genthaler at the close yesterday was 1873 IA
It is learned from a director in the Mer-
genthaler company that the cash surplus
after the payment Of the dividend on the
stock will be very nearly if not quite,
$500 000 or sufficient to pay another full
quarterly dividend.
Chesapeake and Potomac Telephone has
been weak. A block of the stock was sold
/ yesterday at 81. and more could have been
| secured at a small advance on that price,
/ il IS understood.
! Washington Gas was sold off early in
! the week to 81 1-2 for speculative purposes.
J but since that time it has rallied sharply
/ under the influence largely. Of buying by
! the people who depressed IT, The bid yes
/ terday was SO , and the lowest offer
/ 54 Ia The stock is we'll held.
| The directors mentioned in the articles
! Of incorporation OF the new Colonial Fire
/ Insurance Company, a list of whom was
| given in The Times last week, were for,
/ mally selected al a preliminary meeting of
/ JIt company yesterday / ne OllctrS OF the
! company viii not be chosen formally by the
! directors until the first week in January.
! but IL is understood that the list as pub
lished in The Times will be unchanged It
| is understood that the new company will
make particular bid for business in Vir-
| ginia and West Virginia and that also il
| will have rs a nucleus in the District the
! insurance business growing out of a close
connection with the Union Savings Bank
and the International Building Association
1 It is not stated when the securities Of the
new company viii be listed on the Wash
ington Stock Exchange.
The fire insurance stocks generally have
held up to their previous prices excelIently
Small declines are noted in some cases, and
in others none whatever Peoples sold
yesterday for Z and Arlington FOR $50.
a thousand shares of Pneumatic Gun
! Carriage the only yellow dog on the
local exchange, were sold yesterday at %
cents, a decline OF ! cent from the previous
Now IS the time OF all times 20 show You
friends tlgt you keep the best in your house 10
80. .s...- ..E, 1Jt n