Evening star. [volume] (Washington, D.C.) 1854-1972, 1904-07-15

At q recent meeting OF Q society Of ac-
eountants IN New York city a paper enti-
tied The capitalization OF Lies was read.
which had reference to the evil Of capt.
talizing companies upon q fictitious vaIua-
tton OF their assets. The author classed fat
capital with fiat money. and asserted that
they are twin children OF the heresy that
something can be made out of nothing"
He asserted that II took about fifty years
OF hard fighting to eliminate the element
OF falsity from American money, and 1t
may take another nifty. years to eliminate
the element Of falsity from American
curities
In regard to the demand for publicity, the
writer stated that II publicity means the
disclosure OF legitimate business secrets.
such as processes of manufacture and rela-
tionship with individual customers. then the
remedy would be worse than the disease.
III. however, he maintains. publicity Is made
to mean such knowledge OF business condi-
tons as lenders usually require from Dor
rowers and partners from fellow par tners,
II Is difficult to see just reason for opposi-
ton.
There was a further sale at today's meet
ing of the stock exchange of Washington
railway bonds at 1871. and, in fact all that
were apparently for sale at that figure dur
Ing the call changed hands. The bid Of
iS1s was repeated without result after sales
aggregating some $4,000 had been made.
The asking price was 1915
After the call $4,000 in one lot was Of
fered at 1SSs, and 7SIS was bid by the broker
who offered them. He took the lot at that
price. He renewed the bid OF 1SLa for 5000
of these bonds. and secured them. and then
he bid 1Sts for $4,000 which he offered at
1s3s. and took them himself. well a
similar lot which he offered on the same
terms.
There were no offerings of either Metro
DOlftan Railway Columbia II al
Us. although 1884, was bid for the former
and 11Ila for the latter.
The bid for gas certificates was 1t9H but
there were none for sale at less than I'D.
The bidding for Capital Traction stock
went as high as 123Is during the call. but
the asking price was 10. and there was
no trading. After call 1231a was bid for the
stock without result.
Fifty-eight was bid for Washington rail-
way preferred stock. but the lowest asking
price was co For the common stock Il
was bid and the Offering was at 10.
Gas stock was sold today without the
quarterly dividend of % cents per share.
The bid went to 5S4 and several lots OF
twenty-five shares each sold ut that fig
ure The bid was renewed at that level.
but the further transactions in this stock
during the call were the purchases of the
stock at 5Sas and 5S11 by the broker who
offered them at those prices. At the close
Ssh was bid and 80 asked.
After call several lots of twenty-five
shares each were sold at 5SSs and 100 shares
were bought at 5Sle by the broker who Of
fered them at that price.
Several ten-share lots of Mergenthaier
were sold at 174Is. and the latter was bid
after the sales without result. An offer OF
an eighth higher made by the broker who
renewed the bid at 114i1 resulted in his TAX
ing the stock. At the close the bid was
114s snd the asking price 1T4s4.
After call three lots of ten shares each
were secured at 174h and the bid was re-
newed on the same level. broker offered
100 shares at 1I41s and bid 114i2 and took
the lot on his bid.