Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-12-29
LOCAL F1NAnc1AL NEWS.

The peaceful course Of the stock mar
ket was not disturbed by anything that
occurred at the meeting today. There was
more trading than usual In the stocks OF
the Washington Railway and Electric
Company. but no special Significance Is
thought to attach to that circumstances. as
the buying was by no means general. and
was in fact mainly confined to the broker
who has all along been the principal dealer
in these securities.
There was apparently an abundance Of
stock to be had at the usual market level.
but there was no general interest taken In
1t, and besides taking In q supply at frac-
tionaI points below the usual level there
was nothing to mark the trading.
In the sense that everything that was
offered below the prevailing price was
bought. the stocks were well supported, but
there was no active interest manifested
Nothing at all was done In Capital Trac-
ton stock and no change was made in the
figures. The company Is now engaged In
actively getting ready to operate the ex-
tension of the 14th street line, which Will
bring the narthern terminus nearly up to
Brightwood.
Before that point is reached there Is some
property recently purchased by the COM
pany and on 1t is being built large building
which is to be used as a car barn and also
for offices. This structure will be $50 feet
the building there is the cost of laying the
tracks SO that the outlay in this locality
will be considerable.
This is about the only new street rail-
road work that Is being done In the Dis
trict and the only work that is in prospect
unless Congress at the present session gives
to the two systems that are now In the city
the right to build the extensions asked for
in the bills already introduced. 1t is pre-
sumed that it will be necessary to give at
TINS session the authority asked for as far
as the bringing of the existing car lines
INTO the union depot.
Inc further privileges that are wanted
poth by the Washington Railway and the
1apitai traction companies including. in
the case of the latter, a cross-town line
from Georgetown via NJ street have not
been taken up and it Is not known what op-
position viii be developed. 1t is said that
property owners along the proposed line on
street have not changed their minds
about having a car service on that thor
oughfere, and it is supposed that they will
be heard from when the time comes
The Old Dominion road Is out or the way
as 1t has retired in favor of the Capital
Traction Company instead of fighting that
road as was the case at the last session of
congress. It may be presumed that its
influence will be thrown in favor of the
measure. The Washington railway was
opposed to the Old Dominion bill last year.
but 1t has not as yet been brought out
regard to this legisla ton. The situation Is
one of decided interest to those who hap
pen to be sitting on the fence and occupy
ing good position to watch the move
mentS or the various parties in this lineup.
The influence Of the outcome on the stock
on the two systems is, of course matter
OF keen concern to those who own it, bu.
as the holdings of the Old Dominion up
10 date, as 1t Is generally understood, con-
sists of stock which Is practically owned
by one or two men, the contribution OF
stockholders on the part of the latter line
TO the throng OF spectators who will watch
the movements in the coming contest Is
not specially large as mere numbers go.
However. 1t is not always numbers that
count the most when high finance is con-
cerned.
There was some question raised when
the stock OF the American Security and
1t should be dealt in ex-divIdend as we'll
as ex-rights, the latter referring to the
privileges which have been extended to
stockholders to subscribe for their pro
rata snare of the stock of the storage COM
pany that is to be formed out of the stor-
age department of the company.
one OF the brokers who Is thought to be
q large stakeholder said. in reply to a
query as to the value of the rights that he
did not know what they were worth but
he would give $150 per share of the present
stock for this privilege
Then" was the prompt response Of an
other broker. who seemed to have an ap-
probation of the idea of the first broker
in regard to the value of anything he want
ed to buy, IF that is the case I will give
There was nothing done in the stock but
1T was quoted both ex dividend and ex
rights.