Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-03-28
LOCAL FINANCIAL NEWS.

The change In the control Of the pro-
posed new Alexandria ferry enterprise II Is
understood. will not alter the original plan.
which was to form q company and issue
half million of securities, equally divided
in stock and bonds.
The proceeds of the bonds will be used
In the equipment of the line, but what dis
position viii be made Of the proceeds of the
stock, and especially the control. which 10
to be owned by the Norfolk and Washing
ton Steamboat Company, VIII be determined
probably at the coming meeting of the oil.
rectors of that company. 1t is not at all
unlikely that in the near future the conf
pany will provide a day service between
this city and Norfolk. which may make 1t
necessary to buy another boat.
A better bid was made for the bonds of
the Capital Traction Company at today
meeting of the exchange than has been
made for some time past. There was. now
ever, no trading, and the bid OF lC9rs mao
no attractions.
A rather unusual circumstance was that
the bonds were offered for sale at all. Inc
price named was 110A. The entire issue OF
these 4 per cent securities is 81 $4,000, ana
it is the belief of many that the company
now owns large proportion, having
quietly acquired them from time to time
The bonds seldom come on the market.
of the company, merely the bid of 14a be-
ing made and an Offering of 143S4. since
the announcement of the increase In the
dividend from to q per cent. which goes
into effect next month. the price OF the
stock has gradually receded from $50 to
the present level. At the former figure the
stock on the new dividend basis pays per
cent.
! The opinion is still held by some that
there is going to he further distribution
to stockholders in the shape of an issue OF
certificates in some form. Beyond the mere
assertion of such belief there seems to be
nothing tangible.
The expected" in gas, as was talked
about on the street some time ago. has not
as yet materialiZed, and there Is nothing
more precise as to the nature and size OF
the melon that was supposed to be about
to be cut than was heard when TINS inter
esting bit of gossip to gas stockholders hrst
began to float about the street
. 1t is noted however, that while the mar
ket for the stock seems to be In somewhat
of a decline, that for the certincates OF
bonds of the company Is unusually Keen
and active. Today, for example the DID
for the certificates was 123 while for series
A and flo was bid. There were no Of
ferings in either class.
The market for most of the securities on
the bond list was very good. and the buy
ing, even at higher figures, was much pet
ter than the selling.
A couple OF lots Of the Potomac Electric
Light ) per cent bonds sold for LOG. and
more were wanted at the same figure, but
the asking price was 1O6s.
The United States Electric Light Com
pany's debentures and certificates were
wanted at 106. They were offered at l01.
Seven 81 coo lots of Telephone > per cent
bonds sold for 1011s, and then the bid rose
to that level, and they were offered at
1O7Ls
Washington Railway and Electric Com
pany's per cent bonds sold for $685. and
there were more to be had at the same
price: S91a was bid.
The bid for Columbia Railway 6s ad-
vanced to 1201R from 100, which was yes
terdays bid. and for the 5 per cent
bonds of that company 1091k was bid, an
advance of half a point over that of yes
terday
The preferred stock of the Washington
Railway and Electric Company sold at
931a and it was still to be had on that
level. The best bid was 93&.
The common stock sold for 34B, and 1t
was still to be had at that price in large
or small sums. At the close the stock was
offered at 34A, and 81 was bid.
Nine hundred shares of Ianston at ISIS
were taken in 100-share lots. and one at
15%. The stock was to be had on the same
level and the bid was 1914. Sales were
made on the latter level, and the aggre-
gate of the trading in this stock was larger
than has been the case for some days back.