Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-08-10
LOCAL FINANCIAL NEWS.

1t is expected that some time next month
glass will be In operation in this District. A
| location has been selected in Twining City
| at the east end Of the Pennsylvania avenue
bridge. The tracks of the Baltimore and
Ohio Railroad pass along the edge of the
property. An ample supply of sand suitable
for the manufacture of glass Is within con-
venient access.
There Is building on the property which
was erected about q year and a half ago.
and Is especially designed for glass manu-
featuring, and is supplied with a furnace,
stacks. ovens and other necessary equip
ment.
This property is now controlled by the
National Glass Company, Mr.. Louis d.
Wine. president, which has been fncorpo-
rated under the laws. Of the District. The
capital stock is $4,000. divided into 5000
shares Of $40 each par value. The greater
| portion of the stock, it is stated, has been
| taken and the money thus obtained Is be-
| ing used in procuring molds and other nee
essary material so that the manufacture
| of glass can be promptly begun Two
| practical men have been employed. so that
it is thought the operation of a glass fac
| tory under such conditions viii not be an
| experiment 1t Is expected that employ
| ment will be furnished to about twelve to
| fifteen skilled and sixty to seventy-f five I'M
| skilled laborers.
| The officers are Louis D. Wine president:
| Robert F. Bradbury, vice president; T.
Conrad Dodge, secretary; Joseph r. Akin
| son, treasurer: Ebert 8. Maloney, counsel.
| The board of directors includes besides the
above named ThoS, H. Atkinson and R. J.
| Clagett.
| The manufacture of glass is not new
| industry either in this city or vicinity. One
| Of the landmarks of the city which con-
tinued down through the war period was
| the old glass house at the foot of Goth
street. 1t was established in the early
years. Several years ago a mandatory
| In small scale was in operation in the
| northeastern part of the city, while the
| plant which is now owned by the new COM
| pany was built about year and a half
| ago. There are several large plants in and
| near Baltimore and 1t is asserted that their
| output Is not equal to the demand. In Alex
| andr1a there are three glass factories which
are said to be In a prosperous condition.
| People who attempt to do business
| through the usual channels are constantly
| at this season of the year greeted with the
| information that Mr.. So and So Is out OF
town" This is such a frequent experience
during this vacation season that it Is not
| uncommon to hear the assertion that every
| body Is out of the city. The hasty infer
| ence also might be made that there was no
business being done. There is no question.
however, that there are lots of people who
| nave not gone away, and moreover do not
\ expect to. 1t is by their aid that the wheels
| OF business keep on grinding, and these
revolutions are of good deal Of import
| ance TO the young men who are standing
| for the time being in the places Of the older
men who are away enjoying a vacation.
| 1t Is a time for the ambitious youngster
| to make a record, or at least he thinks 1t
| is, and he is quite reSolute to have as good
showing as possible in the business while
| the old man" is away OF course, he
| can't change the condition of the summer
| season. when, in spite Of energy and enter
prise. the public refuse to be interested in
| buying and selling. Still there is always
| a fraction of a market even in midsum-
! mer, and there are always some people
| who are ready to do business. Whatever
| fragments, or, perhaps. remnants, of a
busy season are about the young man
in charge pro tenn attends to with
| a thoroughness that yields the best results
| to the house
The feature Of todays transactions on the
| Washington stock exchange was the sale of
| $4,000 in bonds Of the Washington Railway
Company. The price paid for $4,000 was
| 711 and for the balance TN. This is the
largest transaction in these securities that
has taken place in some days. and as the
result of the order to buy there was an ad-
| vance In price.
Thirty shares Of the stock of the Wash
ington Loan and Trust Company were sold
| in lots of ten, and the figure paid was 210.
The Same broker who offered the stock
| was the purchaser. Such a transaction is
| recognized by the rules, on the ground that
a member OF the exchange may have a
buying and a selling order for the same
stock The ethics of one broker undertake
ing the execution Of such an order seems to
be recognized in theory, but not in practice.
1t appears that every broker thinks that
| any one else but himself who does such a
thing is trying to influence the quotations
| instead of making legitimate transaction
Eleven hundred certificates of indebted
ness of the gas company represent the pay
| ment of the dividend of $40 per share de-
clared some time ago. The aggregate Ut
| this issue of 6 per cent stock is 81, 600, 900.
| 1t Is probable that the work of sending out
these certificates will be begun tomorrow
| by the gas company, and. that they will be
listed on the exchange.
Washington Stock Exchange,