The times. [volume] (Washington [D.C.]) 1897-1901, 1901-05-05
IN THE BANKERS CIRCLE.
Local Investment and Speculative
Gossip of Interest.


The features of the local stock market
during the past week have been the break
in Lanston Monotype of nearly a point on
heavy transactions yesterday and the
great strength and activity of Washington
Traction and Electric Company on sew
eraI days The weakness of Lanston
caused much attention, as many people
have bought the stock during the past
few months on tips said to come from in
siders in the company that its business is
growing rapidly and that the stock is
likely to be put on a dividend basis in the
not very distant future Nearly thou-
sand shares of the stock changed hands
yesterday at from l31s to l312, ana there
was more stock offered at 1873. when the
trading ceased. The stock has been sell
ing recently slightly above II, and few
weeks ago large blocks of it changed
hands at ID.
Many people in Street are beginning
to consider the recent little boom of the
stock only a repetition of the many others
that have been induced from time to time
nv similar good luck stories from the
inside Of rights sold, early dividend
nrosnects'' big orders for machines,
fine work turned out and the like The
recent report of the company, synopsis
of which was published in The Times two
weeks ago. stated that it is turning out
one machine day and that there are
n,tynarous orders for machines ahead to
he filled Ii also stated that the company
hopes to be turning out more fhachiL'es ~
the early future. Nothing, however was
said of net earnings during the past ) eat
on the other hand, there was the susSeS-
tion from the president tnat more stoCh
he issued for the needs OF the company.
The report was much ike those tiat nav
heen issued for many years back anu II
is not difficult to see why. the street does
not grow enthusiastic over the prospects
of the stock.
>ro,binq new has come to light regard
ir,, tho affairs of the Washington Trac-
ton and Electric Company or its bonds.
,rbare has been a steady demand FOR the
bonds at advancing prices, however. Yes
,erdav $4,000 were sold at from % TO
7Oi. an advance in two weeks or SO OF
~ points The story IS stll hearu III ene
~ rect that insiders OF the company gre
buvinc the bonds. and that they seem
,,iilinS TO pay around 20 for them The
racant gossip regarding the purchase OF
the Washington and Alexandra Terry
for the company seems to be without
foundation.
II Is noted by friends of the syndicate
that il will have the ball season business
exclusively this year and probably here
after, and that it is likely to be valuable.
It shares the Potomac excursion business
with the Capital Traction, and it has the
exclusive transportation of the crowds TO
the Chesapeake Beach Junction. and
Cabin John, and owns itself Glen Echo.
This puts it well ahead of the Capital
Traction In the amount of excursion
business to be done.
The past week has seen some rearrahSe-
ment among the local brokerage of1ces.
Rogers 4 Co. have failed, and their local
branch. with the many others throughout
the country, has closed. leaving numerous
victims to mourn their losses. watson
G Co. were among the losers. but they
have continued in business, having Sc
cured Jacob Berry & Co.. members of the
Ney York Consolidated Exchange, as
their correspondents. J. Overton Paine
& co have opened local office under the
manaEement of NJ. d. Jacobs. The former
firm OF Ffoulke & Co. has dissolved part
nership. Charles NJ. Ffoulke retiring and
Horace c. Ffoulke continuing the business
under the same firm name.
Mergenthaler Linotype continues steady
from week TO week above 100, the bulk of
the recent business having been between
To- and l63.