The times. [volume] (Washington [D.C.]) 1897-1901, 1901-04-14

Ork, tnat were not limited as TO price,
caused the local spectators to begin
buying. 1t is probable that the latter
class OF business has been larger than
the former. though there is no doubt as
to the genuineness of the New York or
ders.
What the developments in the affairs of
the company are to be is less easy to
discover. 1t may be stated on excellent
authority that the New York financial
end of the company Is considering plans
for raising additional funds. Last year
something like a million dollars was ex-
pended on the large system of better
ments being carried forward 1t is I'M
derstood that the hackers of the company.
or in other words the largest holders Of
bonds and stocks. went down in their
pockets for this amount, which now fig
ures on the books of the concern as
floating debt" The betterments have
continued and are not yet completed and
more money is necessary. 1t is supposed
too. that some cash may be required in
connection with the consolidation plans
now actively under consideration The
statement is made that this money Will
be raised by an assessment on the capital
stock of $50 per share. The authorized
stock issue is So. e09, 0o9 and such an as
sessment would be g. 400 600. To an out
slider 1t would seem that this assessment
is similar to the one made last year in
effect, as il must come out of the con-
trolling interest which still holds the
large part OF the stock. 1t is easy to see
why this rumor has a good effect on the
bonds The big block of money to be
realized by the assessment VIII be put
into the property which is virtually the
same as saying that it makes the bonds
worth just that much more.
A week ago the bid on the Washington
Traction bonds was 6i&. Yesterday they
sold up to 6S, the closing bid being 674,
and the asking price 6S14. The sales yes
terday amounted to $4,000 of which
large part were 80 days options, however
On Friday $1,000 Of the bonds changed
hands from 81 to 671s. One of the in
heavy option purchases is to the effect
that an offer of Il has been made for the
right to purchase a large block of the
bonds at so within sixty days.
The week in the local market has been
a good one, with business brisk in other
quarters, as well as in Washington Trac-
ton. Capital Traction has awakened
somewhat, and on Friday nearly $50
shares changed hands at 1913 and 1917
Washington Gas has been fairly active
between 81 and So. and Mergenthaler, Ian
ston, and Graphophone common have all
been traded in in an encouraging WaV
The tendency in prices has been upward
though not in a way in the least violent
The outlook for the coming months is
good according to some Of the best au-
thorities. The boom i'm New York is so
persistent that 1t is at last communicat-
ing some of its surplus enthusiasm to
local securities.
Graphophone common stock has been in
demand, and the price has at last gotten
away from par. During the last two DAYS
OF the week the bid has been 103s and sew
eral lots of the stock changed hands at
that figure 1t is said by the friends of
the company that there are several bids
for considerable blocks of the stock I'm
sight The earnings of the company are
excellent, according to the reports of Of
f;cers to their friends here
Pneumatic Gun Carriage stock is not
likely to go much lower In price it is
said The foundation for this opinion
seems to be chiefly if not wholly in the
fact that the present price is very close
to sea level. The bid yesterday was 5
cents a share, the par value being so.
The Pneumatic Gun Carriage company