Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-06-04
HEARD ON 'CHANGE

No date is fixed for the revival of active
trading which was feature of the daily
meetings of the exchange during the past
fall and winter. There are those who be-
lieve that 1t is on the schedule; for If such
a belief were not held there would be no
bulls in the local market.
OF course there are representatives OF
that species, as well as of the bulls as Is
the case in every place where men transact.
business. 1t is brought out as a reason
why the bull position is the correct one
that the business of the city is not declia-
ing. In fact, it is increasing in volume
and in Importance. AS result bank
stocks, street railway securities and the va
rlous interests represented on the list OF
the local exchange are feeling the benefits
of the money making period.
1t is asserted by those who are in a posi-
ton to know that the Capital Traction
Company is earning between and per
cent net on its capital stock, while the
Washington Railway and Electro Company
is earning not only the ) per cent dividend
on it's preferred stock, but also per cent
or it's common stock.
Attention was aroused for time in the
affairs of the Old Dominion and Great
Falls Electric Railway by the announce
ment that Mr.. r. d. Weaver has retired
change made was not looked upon as hav-
ing any significance beyond the exp ana
ton given out that Mr.. Weaver, for family
reasons, had arranged to be away from the
city for several months. In his place was
put Mr.. John Leetch, which was further
conGrmatory of such view.
The railroad has been mainly prominent
because of the agitation for a cross-town
extension which Congress has not thus Tar
granted, In some respects, however, 1T Is
one of the most unique efforts in that
line that has ever been developed here.
There has already been expended in the
grading of the roadway and the consTuc-
ton of bridges nearly half million dollars
The result is a road some fourteen miles
in length, extending from the Georgetown
END of the Aqueduct bridge along the DUH
on the Virginia shore of the Potomac to
Great Falls.
1t Is stated that to supply the equip
ment and the power house about $3tOOOo
additional is to be expended.
The feature of interest is that the fnan-
cling of this enterprise, into which nearly
three-quarters of million of dollars has
already gone or is contracted for, has been
done without the issue of bonds or the
public sale Of stock.
The capitalization of the company is
millions of dollars, but only about one
third of that amount has been issued, and In
such fashion as to be practically certih-
Gates of acknowledgment of money ad-
vanced. AS the money has been needed in
the course OF the "OIk II udS DeGii NV
vided, and is formally credited as proceeds
of the sale of the stock-a species of self
to self sale.
1t is supposed that Mr.. John r. Mclean
and Senator Elkins have supplied The
money that has thus far been expended,
and it is evident that they stand ready TO
see the road through to completion. On
the estimate of three-quarters of q million
of dollars as the expenditure made up TO
this time, the enterprise, merely from he
point of view of an undertaking of two in
divduals, may be regarded as one of mag
ntude.
According to the general understanding
these two men will have put into this en-
terprise by the time 1t is completed, Whlch
will be in the coming fall, the large sum
CT about $1,0o0O00.
Tt is sometimes asked what will be done
with this property in the event the extern
sion through the city is not granted to the
company by Congress. There has been no
definite answer made to such a query, al
though it is held by some that the road
can develop that section of Virginia ana
build up a business that will be profitable
Extensions can be built, towns can be start
ed and farm produce can be brought TO
market, and Ia these particulars there is, IL
is claimed, a chance even for a million
dollar electric road to become money
maker In any event 1t is not supposed
that the men who are spending their dol
lars are lying awake nights trying to figure
out a profit on what they have already
put into this enterprise