Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-12-27
LOCAL FINANCIAL NEWS.

The movement in the securities of the
Washington Railway and Electric Company
on the local exchange is being observed
with some interest with the view of learn
ing whether there is any indication of the
truth of the gossip that is going the ROUNDS
and which is to the effect that an effort is
to be made or Is being made to depress
prices with the object of forcing the stocks
on the market and then gathering them in
at lower figures.
At the present time. when the market Is
what may be called stationary. and there
are no orders to buy. it Is difficult to sea
much significance in what is being done
Today, for example. both the preferred and
the common stocks sold on about the same
level as for some days past. The common
stock, perhaps, was to be had somewhat
less, but on the whole there was not very
much change.
There was moderate demand for options
ir both cases which was satisfied to some
extent Dy furnishing them at a half
point or SO above the market price. No
attempt was made to find out how much
stock could be had at what seemed to be
the prevailing rate, and SO while there ap-
peared to be p.enty of stock for sale. yet
the lack of any but the most Indifferent
buying did not bring that condition out
very clearly.
AS the present market is not normal
ohS o"lHS u the nlSn money TdtSS PIT
vailing In New York, which makes 1t pos
sible for bankers to do better with their
money than to lend 1T at the current rates
on time loans. and owing to other cohdl-
tons. perhaps much significance cannot De
attached to current business. At any rate
1t does not show In the case of the raliWa!
stocks the existence of such movement
as has been reported to exist.
There is naturally much interest taken
in the situation, but little that is definite IS
known, and so the talk is largely OF con
jecturai character. There are those Who
believe in an ultimate merging of all street
railroad and lighting interests in this city.
and there are also those who are lnclineu
to think that the whole scheme is the work
of the imagination of people who want 10
have things turn in the direction theg
imagine their advantage lies.
1t is recognized, however. that the Old
Dominion interests have gotten INTO the
local railroad situation and that they are
now a factor, so that instead of two COM
panies or systems they are now three.
which is quite change from the SITUATION
of last year. The question now is with
those who look at the matter from TINS
point of view. what other changes are likely
to take place?
At any rate whatever may be done in the
way of enriching the stock holdings of the
men in control or of Strengthening interests,
it is quite evident that the local street rail-
road companies are doing a good business.
The figures of the years work are not as
yet completed, and will not be until some
time next month But the twelve months
ending at the close of the present month is
nearly up now, and so those who have the
figures of net earnings for the past eleven
months can make a pretty good guess as to
what the total for the year will be.
There seems to be an impression among
those who are in position to know that
the showing is by no means bad one, and
that the past year has been a good one in
the street railway business in this city.