Evening star. [volume] (Washington, D.C.) 1854-1972, 1904-07-07
LOCAL FINANCIAL NEWS.

couple OF weeks ago a charter was
| taken out at Richmond for the incorpora-
ton OF the Winchester and Washington
City Railroad Company. No route IL spe-
cifed and II will be possible under the char
ter to use either steam electricity
motive power. According to a statement in
| the Philadelphia Ledger George J. Gould
and the Wabash railroad are said to be be-
hind the organization. There is practically
nothing known here of this new enterprise.
II Is not Il matter of surprise that in the
uncertainty that seems to prevail. the Wa
bash interests credited with being the
power behind the throne.
Ever since that organization secured con-
troll of the Western Maryland railroad with
a terminal In Baltimore and arranged to
build a connecting line from Cumberland,
Md, between Its western and eastern roads.
II has been the tendency to credit all enter
prises of this kind in this locality TO the
Wabash.
The charter OF the new road only gives
the right TO build line through virginia.
" hich WILL of course. confine IL to that sde
of the Potomac and oblge the fixing of the
terminus there, unless trackage ar
rar gements can be made WITH the compa-
MES controlling the steam railroad ter
minals in this city. II the latter Is tmpos-
sible the new line. with a depot on the VIZ
gnia shore of the Potomac. would have 10
depend on the electric roads for getting It's
pas sengerS into the city ana 10 the ne"
union station.
The securing Of such n charter seems to
be a confirmation of some of the gossip
that was current when the Old Dominion
Electric Railroad Company was being or
ganized which was to the effect that II
was intended to be connecting link with
this city of the proposed Wabash eastern
line However, the president of the Old
Dominion road, Mr.. Robert ID. weaver.
said this morning that he had no KNOW
edge of the purposes ana plans IN secut
ing the Winchester and Washington rail-
road charter nor did he know any or the
men named incorporators. he saiu'
however. that II the proposed road IL 10 oe
built he had no doubt arrangements couIu
he made for the use OF the Old Dominion
tracks from Great Falls to this city. Inc
latter are now being laid over the mrs.
seven miles north from the Auueouct
bridge and IL is expected that the contract
for the remaining seven miles VIII be let In
the near future
The better business in Wall street yester-
day was attributed quite commonly to the
news from the convention at ST. Louis.
On the same basis IL is possible TO assis"
the greater activity on the local STOCK eS-
change today to the same cause. leaving
however the inference, that the news came
a day late to this city, which, OF course Is
not justified by the facts. There seems
boweyer no way of explaining on the po-
utical news hypothesis why the local mar
ket was quite active today, while yesterday
II remained dun.
The bidding for Washington railway
bonds began half point better than
Yesterdays bid Seventy-seven was BID az
~ .,art and the asking price was IN,
and the bidder expressed his Willingness 10
take one bond or 100 bonds at that neur s
However those who had the bonds want
ed higher figures, and as result Oh 'no
trading all bonds that could be had az OF
below tn were taken. Yesterday they
were offered at 1875 and today at the close
the asking price was 'iAsCa haii po'"'
above the level of yesterday.
$1,000 Metropolitan Railroad per cent
bond was wanted and in order TO get u
the bid advanced from III or yesterday 10
117% The asking price was lls, put tnere
was no trading and then the latter oner-
ing was withdrawn and 1854 substituted
Tbara was ouite a good deal of trading
dome in the bonds of the telephone COM
pany and a result the prices advanceo
and all bonds that were on the marker AT
103x were taken. Yesterday the bid Tor
these securities was 1921, while the asking
price was 1O3 The bidding today prac-
tically started at 1881. and ran steadily up.
with nearly one sale a.. the the a hid u
At the close the bid was 103&, and the
asking price 100.
ferred stock advanced to IS. while the ask
ing price was 561a The latter was with
drawn and 56& substituted. but there was
no trading even under the lower Offering.
Bank of Washington stock was offered at
first at $50, and then at 525. but the broker
who did 1t said he had been told that the
unexpected purchaser OF this stosk Of the
other day had left the room. This was
only another way Of saying that the mar
ket for the stock at those figures had gone
when the broker referred to was not pres
ent. which is the only explanation OF why
stock that was offered at 600 yesterday was
offered at 525 today The bid was 40, and
yesterday 1t was 475.
bid of 3 was made for Washington
Title Company stock. which was an ad
vance over the bid of yesterday. namely.
2N. sale was promptly made on this
bid. and then the bid receded to ~. There
was no stock offered.
The best bid for Mergenthaler during
the call was 173A. while the asking price
was 174. After call the stock was offered
at 179h and sale made The stock was
still offered on that level without result.
The bid continued to be 173A.
Government Receipts.
National bank notes received today for
redemption. S1.222.07S. Government re-
ceipts. From Internal revenue. S987. GA; Gus
TOMS $1.371. 5T3: miscellaneous, $50 900 Elk
pendtures, 81. 725.00O.
Available cash balance. $lG0 4O8. 1917.
Warrington Stock Exchange
c.l.