Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-03-01
LOCAL. FINANCIAL NEWS.

decision has been reached by the
American Telephone Company to Issue 49,
100000 In per cent bonds. II is supposed
that the proceeds of these bonds will be
used. in part at least, to pay OF the In
debtedness of subsidiary com panfes incurred
Tor improvements and extensions.
The large sums of money that have been
and are being spent in this city and in Bal
timore by the Chesapeake and Potomac
Telephone Company have been furnished by
the parent company. 1t Is not expected
that the expenditure by the local company
Will be completed until some time next
year. and then II Is probable there will be
some readjustment of the securities. so as
to place the new Indebtedness in a more
substantial form than it is at present,
merely floating debt.
The upward progress In prices in the
stocks listed on the stock exchange that
have been most active for some days past
was not as noticeable today has been
the case for several days past. In fact.
trading in some securities was on a lower
level. as compared with yesterdays prices,
although the volume of transactions in sew
eral instances exceeded that of yesterday.
which was one of the big days.
A good DEMAND developed for Capital
Traction stock, and the bid, starting on
the level of that of yesterday. namely.
141A, advanced to 14S1s for a quotation lot
of twenty shares or for any part of leo
shares. The stock was then for sale 1t
Ifc. anu w SnareS III twenty snare tOls
were taken at that price.
Stock was still for sale at 49, but the
bid had receded to 1888 and sale WAS
made on that level. The bid was renewed.
but there was no stock to be had under
149
The preferred stock of the Washington
Railway and Electric Company sold for
the most part within rather narrow
range of 93h to 937s, although few
sales were made at ear. Yesterday the
range was from 93 " to %. The volume or
trading was larger than was the case yes
terday
AT the close the bid 93as. and the
asking price 81 Options were offered at
94ts, and "a was bid for them.
The dealing In the common stock also
reached a large aggregate, the demand for
options serving to Increase the demand. as
those selling them bought the stock at a
lower figure. Options We're sold for 3oss
to 35& and the stock from 35la TO 3, At
the close 35is was bid. and 35ss was asked.
Some 400 shares were dealt In.
Some 800 shares of gas stock were bought
and sold at prices ranging from GA to
those of yesterday. The demand seemed
to be a strong one at "a and little better
61n was bid for 100 shares or any part
The bid for the stock at the close was 6I1t,
and the asking price 6I1s. Yesterday o'fs
was bid and 67h was asked.
! When Ianston was called a sale was
made at 1914. and some 500 shares were
taken rapidly at H. There was stiil stock
to be had at that price, but the best bid
was then LIN. The stock subsequently sold
at 16 and at 167s. and at the close it was
to be had at 10. The bid was then an
eighth less. options were offered at l6h
and 1Gls was bid for them.
The aggregate of the sales was about
! 400 shares. Yesterday the sales ran up
to OG0 shares
There was no trading in the bonds or the
Washington Railway and Electric Company
during the call, when the bid was s3&s and
the asking price 90. After the call, how
ever several lots were sold from Soi2 to
500 >.,-'
A Capital Traction per cent bond brought
1111a after call, the highest price yet paid
for these securities. big block of Capital
Traction stock comprising 80 shares were
sold after the call for 1875.