Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-08-20
LOCAL FINANCIAL NEWS.

An addition is likely TO be made I'm the
near future to the stocks and bonds now
listed by the Washington stock exchange.
The directors of the Merchants Transfer
and Storage Company are to have this
subject called to their attention, and It is
probable that an application will be made.
The conditions Of membership are very
simple. as all that is necessary to have
the matter considered Is to file for the in
statement Of the secretary Of the exchange
giving the general facts about the corpora
tlon. such as Its name. amount of stock
and bonds. etc. Under the rules Of the
exchange the securities of concern are
listed unless the capital stock is at least
100000, and the number Of shareholders
not less than twenty-five.
In both of these particulars the transfer
company Is eligible. The capital stock is
$l5OOOO under the plan of expansion which
was carried out some two years ago. when
the company's warehouse was erected on
E street.
The additions to the vast number of
stocks and bonds listed on the local ex-
change are not infreouent and this phase
OF the career Of this organization affords
some indication of the growth Of the bust
ness interests of the community. Not only
can the history of the establishment of
various concerns be traced through these
records, but also their enlargement and
progress as shown by the increase In the
capital AS a good proportion Of the stocks
now listed are more or less inactive, SEN
timent is growing among the members of
the exchange in favor Of extending the list
so as to include the other securities, as
those of some of the steam railroads which
use the city as a traffic point and for which
reason 1t is supposed local interests might
be interested in them more than In the gen.
eral list of railroad securities 1t Is posi-
BILE that some action in this particular may
be taken In the near future.
What, of course. is desired from the
standpoint of the broker. and this class
forms naturally the largest element OF the
membership of the exchange, Is active deal
Ing, whether 1t comes from the investing
or speculative section of the public. Such
a large number Of the listed securities are
held as an investment that 1t Is seldom
they come on the market at all. The
most active securities are the stocks OF
the Capital Traction. Washington Gas.
Mergenthaler. Lanston and Greene Copper
and the bonds Of the Washington Railway,
Capital Traction and Telephone Company.
Few transactions, comparatively. take
place In the stocks of the national banks
and the fire insurance companies, and these
two constitute nearly One-third Of the en-
tire list outside of the government bonds.
The consolidation of street railroads. cleo
trio lighting companies and title companies
has resulted in the practical withdrawal,
of a number Of securities, and such with
drawals are in excess Of the natural in
crease.
It is expected the condemnation proceed
ings to acquire the land for the proposed
electric railroad from near Brickhaven, at
the Virginia end Of the Long bridge, to
Fairfax Court House will be finished dur
ing the present week. AS soon as the work
of the engineers Is completed and the esti-
| mates made, it Is stated, by Mr.. Geo. P.
Robinson, who represents those In control Of
| this enterprise, that the work Of construc
~ vyiIl he hoe Dohiy <1,ok
| the estimated cost of building the road the
| proposed distance of some seventeen miles
| is 100000. He adds that the money is to
| be raised by bond issue. and that the en-
| tire amount has been placed.
Traffic arrangements have been made
| with the Washington. Arlington and Mount
Vernon Railway Company so that the cars
Of the new road will come directly into the
| city to Pennsylvania avenue and 1871 street.
The bidding for the bonds of the Wash
! 1ngton Street Railway Company at today's
meeting of the Washington stock exchange
| went to 71k, but no bonds were found at
| that price. They were offered at u.
There was demand for Capital Traction
| stock, but those who had 1t for sale were
| firm at 125 and refused all bids, as none
| Of them went beyond 124. After call the
| offering was slightly in advance without
bringing out any stock.
The return Of this stock to 4 per cent
basis has made considerable progress dur
| ing the past few days. Those who are sup
| porting the stock think that 1t ought to be
above 125, and they allege as one reason
| why they think 1t is worth that much that
the earnings Of the company thus far in
| the present year are equal to q per cent
dividend on the stock. It is not claimed
that there Is any intention OF advancing
the dividend from to per cent for 1t is
the judgment that the money can be more
wisely applied to betterments.
There was another large block of Lanston
stock sold today, the same brokers being
the seller and buyer as in the principal
transaction in this stock yesterday The
sales today amounted to 400 shares. and
the price paid for this stock in lots Of 100
shares was g. There seemed to be no
further demand. although the stock was
offered h of, with no takers