The times. [volume] (Washington [D.C.]) 1897-1901, 1901-01-20

I variations in prices some of them toward
higher level of prices and others.
notably in the case Of Merscnthaier LIMO
| type in the opposi direction 1t may De
! said with truth that the Investment ana
speculative demand for securities has III
creased rather than diminished. and that
the outlook is for a continued steady
absorption of such investments. The
plenty OF money is still Il matter of gen.
eral comment and rates continue easy in
the extreme.
4 striking indication OF the increased
activity IL general business is shown in
the way hat the banking facilities are
taxed to their uttermost, index to this,
in turn. being given in the recent rapid
advance in the prices OF bank and trust
| company stocks dire to a large and per-
| sisLent demand for them by the most
| conservative element of the inyes lment
public. Metropolitan Bank stock is now
| in demand at the highest price in its his
| tory. 675 having been the bid yesterday
on the local stock exchange. The price
| a week ago was $50 bid. Other bank Sc
curities that made advances during the
week were Central, to 210 bid; Columbia,
! to 172 bid. and Traders, TO 100 bid.
| The gains made by the trust companies
/ were even more notable. American Sc
ourity ard Trust Company has advanced
! sharply III price owing to a demand from
1 several quarters. Yesterday rs was paid
| for a small lot, but there have been sew
| eral transactions at 215, and the bid price
| yesterday was at this figure. the stock
/ being held at 230. week ago the bid
price for The stock was only 200. National
! Safe Deposit and Trust Company yes
terday made record price on a small lot.
| three shares being sold at $50. The bid price
| of this stock was las. against AS a week
| ago. Washington Lean and Trust sold at
| los. the best price recently attained by it.
| though net the highest in its history.
In Union Trust and Storage stock, too.
| there has been considerable activity and
| a tendency to advance. A number of
| speculative holders of the stock sold out
early in the week and the price declined
somewhat at that time, but since then the
investment demand has been sufficient to
carry the price to its highest The bid
at the close yesterday was 1O3 IS, and
the asking price 104 ga.
The annual statement of the American
Building and Loan Association, published
elsewhere in The Times today, shows the
institution to be in a very prosperous
condition. being now in the sixth year
of its existence and having more than
amounting 10 81 263, nearly one-half of
which has accrued during the past year
The association is based upon a modern
system, having the advantages of the ex-
perjence OF kindred associations, and IFS
oinceTs are some of the most successful
and prominent local business men. One
Of the officers of the association states
that the general outlook for business in
its line has never been more encouraging
than at present, and that, with a fair
amount of patronage, it expects TO double
its business during the present year. The
association pays per cent on all moneys
invested with it and deals in nothing but
real estate securities.
Washington Gas has continued to ad-
vance in price and the interest In the
boom Of the stock is undated. Yesterday
it sold at Ga 1-2, equal to Go with the
dividend, the highest price on record. The
occurrence Of the large demand for this
stock ut the same time with two other
events in the lighting situation has given
rise to many sUrmises. These two events
are the introduction of bills in Congress
TO allow the gas company to purchase any
other lighting company in the District Ct
Columbia. and the development of the
plans of the Washington Traction and
Electric Company to extend the facili-
tics OF is electric lighting plant on Four
teerth Street.
Two bills have been introduced, prac-
tically similar in their nature which al
low the gas company to purchase amy
other lighting company this. OF course
applying without question TO the electric
light plants OF the syndicate. The FIRST
idea regarding these bills was that the
gas company was considering the posi-
biiity of the dissolution Of the syndicate,
when this should occur. If possible. Some
doubt was thrown ON this solution Of the
mystery when II was announced during
the week that the syndicate had perfected
its plans for the extension Of its plant
on Fourteenth STREET at an outlay of sew
eral hundred thousand dollars II is said,
in fact, that the money has been provided
for these Improvements. and that they
Will be made in the near future beyond
question.
The optimistic friends of the Washing
ton Traction a-d Electric Company now
wonder if it is not possible that the gas
bill is really a plan in disguise for the
requirement of the gas company by he
syndicate instead of the requirement OF
the syndicate by the gas company. Il may
be stated in this connection that there
has been a slightly more friendly feeling
toward the Washington Traction IL per
cent bonds recently.
Mergen thaler Linotype stock has been
the most active on the list, and practical
ly the only stock that has been weak. 1t
declined rapidly in price until yesterday.
when there was a slight recovery. that
did not, however. prevent its closing thir-
teen points of for the week. and at the
lowest level for many months. The low
notch reached was 100. and the close was
at 1Gi bid. The cause OF the sharp de-
cline in the stock is the subject of much
doing the best business Of its history, and
that its officers are most optimistic in
their predictions for its future.
The useal rumor that the dividend is
to be cut from 10 per cent regular and 10
per cent extra, to a regular rate of L per
cent annually, has been In circulation, but
as has been said in The Times before, there
is no more foundation for this runor uSY
than there has been in the past, appar-
emily. And even If the stock is to be put
on u per cent basis II is the opinion of
some OF the best financial men in the city
! that IL would then be worth 200. The
president of one of the trust companies
yesterday made the statement 10 the
writer of this column that in his opinion
regular II per cent dividend, when it is
known that much more is earned is fully
as desirable, from an investment stand
point, as regular 10 per cent and an extra
10 per cent when 1t is known that the
extra dividend is being paid simply to dis