Evening star., 1903-07-29
LOCAL FINANCIAL NEWS.

An important improvement is being made
In the power plant of the United States
Electric Lighting Company, at 14th and Il
streets, by the setting up there OF steam
turbine. This form of machinery is consd.
cred to be not only effective, but more eco
nomtcal than the ordinary engine in use
1t will be an addition to the power OF the
plant, which has a capacity OF about 500
horse power. AS there are three other
steam power plants operated by this COM
pany, namely, in Georgetown. at the foot
of Az street. and at 10th and II streets
northeast. The total capacity is about 1O,-
900 horse power.
1t Is expected that some time in Septem-
Der active work will be begun in the con-
struction of a water plant at the Great
Falls. This enterprise is controlled by the
same interests that own the steam plant
which supplies the electricity for lighting
the city, as well as for operating the Wash
ington Electric railway system. The steam
plant can be used to supplement the other
II the occasion arises. but the power of the
Great Falls plant for the greater part Of
the year will be sufficient to supply all the
needs OF the city for the present and for
many years to come
Some idea of the magnitude Of the pro-
posed plant at Great Falls may be had
from the statement that 1t Is the intention
to install sufficient machinery at once to
afford capacity of 5000 horse power
After making due allowance for the differ
ence IN the capacity of water and steam
plants. arising from the inelastic nature Of
water power plant in its production, and
the loss for transmission over a long dis
tance. there will still be a great s,,periority
OF the water plant over that of the present
capacity of the steam plant now controlled
by these interests.
The only problem that now remains in
the inception of this great enterprise is to
secure the necessary money. 1t is believed
mat arrangements to that end are about
completed, and in that event 1t will be
| possible to begin the work of construction
some time in September. AS the compile
| ton of this undertaking will involve the
expenditure of over two million of dollars
IT Will be understood that the financial
feature Of the undertaking is not insis-
niticant.
Various interesting problems have been
worked out by MIR. Sheriff, the engineer
who has charge of the hydraulic portion Of
the enterprise. The matter of the trans
portation of the material is one of consa-
quence, owing to the isolated situation and
the rugged nature of the country, How
ever, 1t has been about concluded to utilize
the canal. and then by means possibly of a
cable system over the Potomac. place 1t
where 1t Is need on the Virginia sbora
where. of course, the power house is to bs
located, as we'll as the suiceway or canal
from the head of the new dam to the
power mouse.
The local stock market was rather active
today and considering the season large
blocks of stock were disposed Of Some
of the brokers attributed this unexpected
energy to the influence of Mr. Walter
H1eston, who presided. While the latter
undoubtedly by his rather informal meth
DDS admirably assisted along some sales,
yet after all there was stock that was to
be sold and there We're orders to buy
Such combination Is ant to mako a Good
market whatever the temperature may be.
The largest transaction was placing about
100 shares of Mergenthaler. the greatest
single day for some time. One hundred
and seventy-three and half was the price
obtained. although one lot of ten went for
173A.
Some fifty shares Of Capital Traction
stock found ready buyers at 121, while eish-
teen shares of gas stock realized co per
share. in spite Of efforts to get 1t at a lower
| level.
An unusual number Of bank shares were
disposed of, when sixty shares of Lincoln
Bank stock were sold in lots Of ten at 125.
Ihere We're ten shares of Metropolitan
Bank stock sold for 652. followed by a bid
fered.
Owing to the legal requirement regulating
the notice to nonresident land owners Of
condemnation proceedings, 1t will be i'm
possible to complete this condemnatio of
the land for the proposed electric railroad
between this city and Fairfax Court House
until the end Of August The report of the
commissioners appointed by the Aiexan-
dria county court to award the damages
to resident property owners for the land
needed between Brickham and Glencarlyn
has been completed.