The times., 1901-04-07

Il
New ork institutions. There has been no
such record of rapid growth in the his
tory of Washington banking as that rep
resented by the increase in the market
value of the stock Of the company during
the past two or three years. Only two
years ago in NAV, 1899. the stock sold
for 40 The bid Of - eX dividend is now
made for the stock. and no one seems will
ing 10 sell at that price. 1t is probable
that there is not much stock for sale at
500 the lowest price at which it has been
offered.
The interest in the affairs of the local
trust companies is illustrated in a very
convincing way by the activity in the
transactions in their securities on the
local stock exchange. Business men are
watching these companies curiously, not
exactly as an experiment. for the princi-
pies on which they are founded have been
proven 10 the satisfaction of everyone,
but as one Of the products of the modern
ideas of fnanciering, which are far dlt-
ferent from those in vogue half century
ago, or even two decades ago one way
Of looking at the trust companies Is as
active i not even hostile. competitors of
the national banks, and there are good
business men in Washington that take
this view. but it is undoubtedly narrow
one. They I'll new place Complementary
to the national banking system. They
have a large capitalization and very broad
powers and it cannot be doubted that
under skllful manage ment they viii be
able to WELD a tremendous influence in
any business community. The local in
stitutlons are recognized as, for the most
part. conservative, and Yet broad-gauge
corporations, capable of a wide eXpan-
sion along legitimate lines with the
growth of the city This fact is shown
by the steady advance IN the price of
their securities on Thursday, the last
market day Of the week a BLOCK Of Amer
iCan Security sold for 30. and the bid for
tho stock was 2z6. eN-divdend. The hid
and asking prices on Loan and Trust were
1I and 10 Sales OF mon trust ana
Storage were made at lo1i2 and lOIss, ana
the bid price WAS lUiie. II Is said that the
deman for both Union Trust and Amerl-
can Security is greater than the supply.
Despite the fact that there We're only
four market days in the past week,
The amount of business done and the in
terest taken in the market We're both
greater than IN the previous week. No
particular reason for this can be assigned
unless is be that il reflects the wonderful
breadth and buoyancy Of the New York
market. which now pass. all former rec
I J
exchange is an example worth noting
There We're .6II shares sold, OF n value
oT about SNl,upJ. Mergenthaler and Ian
Ston were both cOnspIcuOusly active and
Mcrgenthaler was very evidently in de-
mand, the price showing "A good advance
for the session. There was. in addition,
business in two Of the trust companies
securities in Capital Traction stock, and
in Washington Traction bonds in-Wash-
iuEt0n Gas ana in Craphophone common
stock.
The announcement is made by repre-
sentatives OF the two hitherto competitive !
liquid air companies, the Triplcr and the
General Liquid Air Company, that they
have formed d combination and win soon
Die organized IS one corporation II is un-
derstood that the combination was ar
ranged chiefly because Of the conflict be !
tween the patents Of the two concerns.
which in this way will be obviated, Of
course. The new Tripler and General /
Liquid Air Company has now the only
patents that have been granted Tor work
ing machines using liquid air power a I
number Of valuable patents have been !
granted during the past few days. il is /
understood. embracing liquid air automO-
bileS and Improvements in rcfrigeratiug
and lighting by means Of the new agent. 4
The new company has installed a plant |
ln this city in the Capital Traction power /
mousse ~ the foot Of Seventh Street. and /
IL Is understood that il intends iYnme-
dlateIy 70 begin the production OF liquid |
alr and the pushing Of its use CONNER
cially.
A steady strength and tendency to ad-
vance in price have been noted as marked
characteristics Of the bonds Of the Wash
Ington Traction aud Electric Company. A
considerable block Of the bonds was sold
during the past week, the sales on Thurs
day aggregating $500 al 637s There are
rumors that the line TO Berwyn. Nd is
TO be sold by the syndicate. together with
the right TO come into Washington over
The syndicate's tracks, the supposed in
tending purchaser being the Aunauolfs
and Potomac Railway COMPANY IL is said
that this company intends TO complete
the line from Baltimore TO Washington
II Is conceivable that these rumOrs may
have helped the syndicate bonds some
what. IN a speculative way. as il has not
been thought that the Berwyn branch of
the syndicate system was very profit
able one.
There is rumor in r street that the
legal difficulties I'm the way Of the build
ing Of an electrical power plant at the
Great Falls have not all been removed
after an, and that the Great Falls Com
pany is still working to get them out Of
the way before 1t can begin its coustruc-
ton work or even secure the necessary
capital FOR its venture. People who should
know most Of the affairs of the company
state their belief Cf ultimate success very
positively. however. As IN officer Of the
company said day or two ago, an old
privilege dating hack many years. as the
Great Fails privilege has, must necessa- |
riiF have acquired large growth Of bar
nacies, bat barnacieE can bee removed