The times. [volume] (Washington [D.C.]) 1897-1901, 1901-04-07

the past two or three years Only two
years ago in MAY, 1899. the stock sold
for 47G. The bid of as eX dividend is new
made for the stock, and no one seems will
ing to 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 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 To the satisfaction of everyone,
but as one of the products of the modern
ideas of financiering, which are far diff
ferent from those in vogue half a century
ago. or even two decades ago. one way
of looking at the trust companies is as
active If not even hostile, competitors of
the national hunks, and there are good
business men in Washington that take
this view, but it is undoubtedly narrow
one They FL new place Complementary
to the national banking system. They
have a large capitalization and very broad
POWERS, and ii cannot be doubted that
under skillful manage ment they will be
able to WELD a tremendous influence in
any business community. The local in
stitutIons are recognized as, for the most
part conservative, and yet broad-gauge
corporations, capable of 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
lean Security sold for go. and the bid for
the stock was 2z6, eX-dividend. The bid
Ill and l15 Sales of Union Trust and
Storage were made at 1914 and 1913, and
the bid price was l01la. 1t Is said that the
demand for both Union Trust and Ameri-
can Security is greater than the supply.
Despite the fact that there were only
four market days in the past week,
The amount of business done and the in
terest taken in the market were both
greater than in the previous week. No
particular reason for this can be assigned
unless is be that ii reflects the wonderful
breadth and buoyancy Of the New York
market. which now pass all former rec
oTds. The nursGay business on the local
exchange is an example worth noting.
There Were l677 shares sold of n value
Of about SS0eO0. Mergenthaler and Lam
ston were both conspIcuonsly active ana
merEenfhftler WAS very evidently IN &C.
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-
inston 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 a combination and will soon
lie organized as one corporation. il is un-
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 for work
ing machines using liquid air power a
number Of valuable patents have been !
granted during the past few days, it is
understood, embracing liquid air automo-
bileS ana improvements in refrigerating
and lighting by means of the new agent
The new company has installed a plant
in this city in the Capital Traction power
house AT the foot of Seventh Street, and
IL Is understood that il intends iInme-
dlately to begin the production Of liquid
air and the pushing Of its use CONNER
cially.
A steady strength and tendency to adj
vance in rrice nave been noted as marked
OF the bonds of the Wash
lngton Traction aud Electric Company. A
block Of the bonds was sold
during the past week, the sales on Thurs
day aggregating $500 at 647s There are
rumors that the line to Berwyn, Md, is
10 be sold by the syndicate, together with
the right to come into Washington over
she syndicate's tracks, the supposed in
tending purchaser being the Annapolis