The times., 1899-03-05
ADVANCE IN PRICES
OF LOCAL SECURITIES
Large Demand for Washington
Stocks and Bonds.
Business OH the Exchange Best in
Its History.
Immense Dealings and High Prices
in Metropolitan and Columbia
Railway During the Week.

Railway During the Week.
The Washington Stock Exchange has just
passed through one of the most important
weeks in its history. The amount of busi-
ness transacted, the large advance in prices
in many stocks, and perhaps even more the
various reasons supposed to be behind these
advances, all have attracted large at
tention from business men generally and
made the sessions of the exchange among
the important events of the business day.
Much of the business of the week has
been the special outcome of the negotia-
tions for the sale of the Metropolitan and
the Columbia railroads, and it is not to
be supposed that so much activity in these
particular stocks will continue for more
than short time longer. 1t is the belief
of brokers, however, that the general great
activity in local securities will continue
and even grow greater for two or three
months to come. Somewhat higher prices
in various groups of stocks are considered
certain also, although it is realized that
the level is already high in many securi-
ties.
A statement of the approximate amount
of business transacted during the past SIX
days is interesting, and it is believed that
comparison with other active periods on
the exchange will show that the record is
one of the best in its history. The amount
of bonds sold was somewhat over 100000
representing a par value of about S6O,O0o
The number of shares of stock traded in
was about 1000, or an average OF nearly
700 shares day. The value of the stocks
sold was nearly 100000, and this amount
with the bond business, makes total of
about 100000 for the week, or nearly
$40 200 day.
The Metropolitan and the Columbia Rail-
way stocks and the Metropolitan Railway
convertible bonds make up large part OF
this business, but at the same time there
has been no lack of activity in other direc-
tions, as a glance at the records for the
different days will show. Several other
stocks and bonds have come into promi-
nence quickly and changed hands in large
blocks.
During the past week nearly 400 shares
of Metropolitan stock were bought and
sold for a total value of over SSO,OOO.
Ninety shares of Columbia Railway stock
were traded in, representing over Slo,ooo.
METROPOLITAN convertible bonds TO va lie
of S54 900 were bought and sold. These
figures are most striking when they are
compared with the business In these Sc
curities year or more ago. 1t is TO be
noted that during the entire year 1897
less amount of Metropolitan convertibles
were sold than in the six days of last
week. Only 5s3 shares of Metropolitan
stock were sold in 1897, or less than dou-
BILE the number for last week. The value
OF the stock sold last week was even
greater than the total value for the entire
year 1897, owing TO the immense spurt that
has recently taken place In the stock
Metropolitan sold in that year from 104,
the low, to 121 12, the high.
Only thirty-six shares of Columbia STOCK
were traded in during 1897, as compared
with ninety shares last week.
There has been great activity in Wash
ington Gas stock, and a rapid increase IN
price, though during the last two days OF
the week there was a slight decline in the
latter from the highest The price BID on
Monday was 54 1-2 and the best price re-
ceived for the stock during the week was
60. at which 200 shares were sold on
Wednesday. There was some gossip on
the Street to the effect that the gas COM
pany was to be included in the purchase
of the street railroads. but as stated here
tofore in The Times there was no founda-
tion for this rumor. The earnings of the
pas company and the dividend prospects
for the stock offer sufficient reasons for
the desire to own 1t, in many peoples
minds.
Chesapeake and Potomac Telephone
stock has also been strong and In great
demand The best bid for the stock on
Monday was IS, and on Jhursday large
block was sold at 65 ga. There are mys-
ipfG at favorable
soon to show in the Telephone situation,
and somebody evidently has enough faith
| in them to buy the stock.
The only stock on the list which did
not advance in price during the week was
Lanston Nonotype. In the week previous
| there had been large demand for Lans-
ton, and 1t had advanced to above II, but
apparently on the strength Of one of Presi-
| dent Doves circulars TO stockholders tell
| ing of improvements in the machines On
| Wednesday large block OF stock was Of
| fered for sale and the strong desire TO
| sell il was so obvious that the price went
down to IS, with only II IL bid. There
| were hints at patent suit which would
| affect the Lanston unfortunately, but the
friends of the company stated that the
| Lanston machine is in no way Interested
| in the suit.
| considerable demand for City and
| Suburban stock has been noted and the
price has advanced in gratifying way.
The bid price yesterday was IS 12. 4
| week ago IL was 80.
A reviving interest in the insurance
and bank stocks is seen in more frequent
sales and advancing prices. Ten shares
| of Bank of Washington sold during the
week for 800 or s15 better than the pre-
vious price. West End Bank during the
past few weeks has advanced in price
from below 80 to above par
The increase in interest in local securi-
ties is shown very clearly in the demand
for seats on the exchange. During the
past few months three seats have been
sold The first was purchased for 5000
the second for 500 and during the past
week 81 600 was paid for the last Of the
three. This is the highest valuat'- -v,r
placed on a seat. The membership is lin
tied to 40, and at the present time there
are a number of applicants for admission
| Rare Chance.
A grocery and meat market Weekly sales
| 81, 900. Rent $50 per month. Owner retiring