Evening star. [volume] (Washington, D.C.) 1854-1972, 1901-08-21
LOCAL STOCK PROSPECTS
RATHER LIVELY WINTER EXPECTED
ON THE EXCHANGE.
Reorganization of the Railroad Prop
ertfes-PrOpOsed Combination of
Other City Institutions.

As usual at this time of the year, the
members of the Washington stock exchange
| find very little business to be done. A
large number are out of the city and those
| who are here are keeping as cool as pos
sible and preparing for the active resump-
ton of business which is expected about
the LIST of October.
There is a lull in the stock brokerage Of
| fees. which is also very seasonable, and SO
those who commonly give attention to local
securities are either at the mountains or at
the seashore or else at home SO a partner
| or the employees can have a summer outing.
The beginning of the activity of the fall
| Is naturally topic that is of interest just
| now, and from what is said by those who
are in a position to know, the coming sea-
son promises to be one that will he marked
by number Of changes in the local sccu-
rites.
Railroad Reorganization.
Perhaps the most notable change that Is
expected will be the publication of the plan
| that Is now being prepared by committee
representing the Washington Traction and
Electric Company for a reorganization Of
that company under the law Of June 1900.
II the plan is carried out, some of the fea-
lures OF which have already been semi-off1-
cially given out, then instead of a holding
company representing the control of
eleven street railroad companies and
two electric lighting companies there
and bonds Of which Will be in all probable
ity listed on the local exchange. At pres
ent only the bonds of the Washington Trac-
ton Company are listed and the stock OF
the City and Suburban, with, of course,
what are known as the bonds of the under
lying roads. which will continue on the list.
In the event the plan is not accepted by
the bondholders and recourse is had by
the receiver to selling the property of the
Traction Company, consisting only of the
stocks of the constituent roads, it is ex-
pected that the purchasers, who, 1t Is
supposed, will be the. present owners, Will
organize a company to carry on the bust
ness
Bonding Company.
The next event in Importance will be the
organization Of the proposed million dollar
company which Is to succeed to the bust
ness of the three leading title companies,
in effect being a consolidation of those
companies. In addition the charter of the
new company under the Incorporation law
of the District will enable it to do q bond
Ing business. The stocks Of these COM
panfes will no longer appear In the stock
exchange list, and in their place will be
that of the new company.
Fire Insurance Companies.
There has been some talk for several
months past of a consolidation Of local fire
insurance companies. but thus far nothing
definite has been done. 1t appears that
the current gossip is based on the proba-
bility Of some such action on the part of
stockholders in the event there is a pros
pect of improving their holdings in these
properties. While the reduction in the rates
on houses that went into effect about the
beginning of the year Is believed will have
an influence on the annual receipts Of these
companies, yet 1t is stated that this loss
has been in some cases more than offset by
the advance made in commercial rates.
Other Matters.
The new code makes an appreciate re-
duction in the tax paid annually into the
District treasury, and that circumstance
brightens the financial prospects of the
local companies.
There is also rumored prospect that
the near future will witness the combin-
ing of two or more of the national banks.
1t is however the belief that this is mere
talk, and has no other basis than the de-
sires Of some men who figure out a profit
If certain institutions can be brought to-
gether. Then, of course, there is always
the gossip about an extra gas stock divi-
dend and the purchase Of the Capital Trac-
ton Company, which never fails to be
heard at more or less frequent intervals.
Altogether there is an outlook of rather
stirring times this fall In the local stock
market.
1t is the purpose of Mr.. Albion K Paris
and Mr.. William A. Mearns to bring out
during the fall a new edition Of the in
Vestor's hand book Of Washington securi-
ties.