The times., 1901-05-19
Beck & Alley,
TELEPHONE MAIN 1893,
Washington Loan & Trust Building.
IN THE BANKERS CIRCLE.
Local Investment and Speculative
Gossip of Interest.

Gossip of Interest.
There were at first some fears that the
suspension of the firm of Gurley & John
son on Friday would cause serious dis
turbance in the local security market
The firm held for customers large
amounts of various local securities. and
some New York securities too, it is un-
derstood. They were in the local financial
institutions as collateral for loans. None
of these securities will have to be sacri-
| feed. it is said, as their owners Will pay
up their loans or make new ones. In the
same way it is not thought that the panic
will result in much if any further selling
of local securities. Other firms than Cur
ley q Johnson. of course, had blocks of
Capital Traction and MergenthaIer and
! other securities up for collateral for mar
gins on New York accounts. One or two
such blocks of stock have been sold out
since the break, but the effect has not
been great Mergenthaler and Capital
Traction both declined a point Or two and
have not fully recovered, Capital Traction
selling yesterday at 1029s and 102%4 and
Mersenthaler at 16l. The demand for both
securities at the lower range of prices
has been good however. and there seems
no likelihood of further breaks.
1t is rumored that Mr. Gurley will re-
and that Mr.. Johnson will also resume,
taking the New York stock market end of
the former business of the firm. The
work of the firm was divided in this way
always. and If there is to be a resump-
tion, il is quite probable that this will be
the way of it. The later reports concern
ing the condition of the affairs OF the
hrln are much less discoura ging than the
earlier estimates More hope is expressed
over the probability of realizing on good
| part of the debts owed the firm by Gus
toners. A meeting of the creditors of the
house is to be held on Tuesday and it is
understood that number of the most
prominent of these have already express
I'd their willingness and even anxiety to
do anything in their power TO make a set
tlcmcnt easy.
The statement of the American Graphic
phone Company as to the condition OF it's
business on April / is beirg sent to stock
holders The assets are given as S2,S71.-
SUS.GS, the principal items of which are
patents and franchises. 81, ,253, 1855; fac
tories, $6IS, ,422.0i; accounts and bills re-
ceivable. $1SS 950.65; cash. $122. .O54 .i3; raw
| material 500 Sl1.15; goods in process of
manufacture. Sl23. 3.1i5.42: goods in hand
completed, $s9.1S474 The chief liabilities
are capital stock, common and preferred,
about s., O00. 900; mortgage on factory real
estate. 100000; bonds $500 600; bills and
accounts payable Sll0,346.64. The surplus
is given as $3.50 1861. 1t will be seen that
the cash. bills receivable materials goods
manufactured ard other such items
amount in round numbers to 81 900 0O0 and
that the current liabilities are only SllO,-
1861 The showing is said by friends of
the company to be an excellent one but
the securities of the concern do rot ad-
vance in price The common hangs
arounds par persistently, and the prefer
red between II and r. The directors of
the company during the past week de-
clared the regular quarterly dividend of
per cent on the common stock. payable
June 10. TO stockholders Of record June l.
There has been sharp slump I'm Wash
ington Traction and Electric bonds dur
ing the past two weeks. The best bid for
the bonds yesterday was 81 and they were
offered at 66 a few days ago they were
selling at 20 and above. People familiar
with the management and affairs of the
company state that its earnings recently
have heen rH''cctt:: larger than they were at
the same time a year ago. All the lines
are said to be showing up eXcellently. The
weakness Of the bonds for this reason at
tracts the more attention. The faVorite
theory of holders of the bonds is that
they are being put down in price to buy
and this is n comforting theory at least.
The story that there is the possibility
of a consolidation of the Washington
Traction properties with the Capital Trac-
ton is again circulating in the street. Two
rumors are heard in this connection, one
that there has been much enquiry of late
for the Washington Traction stock and
the other that a mysterious British Syndi-
cate is having conferences with repre-
sentatives OF both companies relative to
the possibility Of purchase. The British
syndicate story is the more interesting
because it is the first appearance of the
famous and mellowed British syndicate
story I'm this vicinity.