The times., 1899-07-02
THE LOCAL SECURITY MARKET

washington StOCk ENcnanSe Hdu oeeu an
interesting one, although there have been
few material changes in the level of prices.
Business has improved steadily until to-
ward the latter part of the week it ap-
preached in volume that of the most ac-
tive period of the spring. when the various
deals with the Washington Traction people
were on. 1t is to be noted too that this
business at present is not stimulated ficti-
tiously by any such outside influence. 1t
is not to be suggested that the entire
record of transactions for the week will
not show any professional sales, back and
forth, but on the whole 1t is probable that
the actual investment buying will COM
pare very fayorably with the same kind
of buying in the spring boom
The number of shares traded in during
the week, of five days. was about $1,000.
or about 500 shares day. The most &C.
tive stocks were the high priced issues.
and there is not one sale to record during
the week of Pneumatic Gun Carriage Mer-
genthaler Linotype, Capital Traction. and
Washington Gas have furnished considera-
bly more than half of the entire amount
of business The total value of the shares
bought and sold was about S32o,OoO me
bond transactions of the week amounted
to S37, 900
1t is evident that the funds received for
the sale OF the Metropolitan and Columbia
railways, and the other properties now IN
cluded in the Washington Traction Com
pany. and for the sale of the Great Falls
Ice Company to the American Ice Trust,
are being reinvested at least In part. And
II cannot be doubted that this reinvestment
demand will continue during the coming
month. Prices have not as yet responded
to the new demand to any extent, but TINS
development of the favorable situation
should follow.
The disbursements by local companies
| in dividends and interest this month VIII
| be another source of ready money tnat
must find investment. Roughly estimated,
| this amount will be at least $3.50, 600 on the
| local stocks and bonds owned here
The record of the exchange this year
has been an excellent one, and, as ABOVE
indicated. it is believed that the coming
| months will not be behind the first halt OF
| the year This activity has attracted muen
more attention to the exchange than II mas
| ever been the recipient of in times past
The visitors at the daily calls OF the list
are numerous The knowledge OF and IN
| terest in local securities is growing. and
| in this way, as always is the case, ousi-
ness will make more business. The move
| ment on foot now TO build Washington
Stock Exchange building is considered by
| brokers generally to be an excellent one.
| The plan is to enlarge the membership oil
the exchange by twenty members, 1t Is
understood. Such move will undoubtedly
| conduce to activity in local securities Inc
news of the plan was published exclusively
| in The Times during the week.
The stock that has shown the greatest
| tendency to advance in price recently has
been Capital Traction. Early in the week
a considerable demand for the stock de-
veloped, and there has been sharp trading
in it since that time. The price has been
| advanced a dollar or more a share. 1t
| seems probable that it may sell some
what higher under the stimulus of cheap
money and the big summer earnings OF the
| company.
Mergenthaler has held its own. but con-
| siderable activity in the stock has not
caused it to advance. The news OF the
company is excellent. 1t is understood that
semi-annual statement showing large in
creases in its business and earnings will
soon be issued.
| Some activity has been noticeable in the
insurance stocks. 1t is to be inferred thar
the quiet picking up of the securities o!
| several of these companies is connected
| with the talk heard on the street OF possi-
| ble consultations among the companies.
| As stated IN Inc Times yeSteFuay, tue
plans for the combination of the Potomac
and the Lincoln companies are practically
complete Officers of these companies are
known to be buying their stocks.
There has been much trading in Wasting
| ton Gas 1t is said that two large blocks
of the stock have been put on the market
recently, since the original sale of several
hundred shares when the Gas deal failed.
| Despite this fact. the price has recovered
somewhat from the lowest level reached
and is very steady above 80.
1t is understood that certificates for the
new bonds of the Washington Traction
Company will be issued and listed on the
exchange this week.
| Occupation of Parking.
Mead & Fisher of 2O1 Street north
| west were Yesterday advised by the Commission