Evening star., 1906-03-14
LOCAL FINANCIAL HEws.

An advance OF three points In one day II
pretty good record for most any security
on the list OF the stock exchange. but when
such feat II achieved By the stock OF con-
servative and steady going concern like the
Union Trust Company then. naturally. there
is a good deal of surprise expressed as
well as curiosity to know the why and
wherefore.
This latter feeling was expressed By one
OF the brokers after q sale today of the
stock at its highest point. which was 1561.
when he asked the president of the COM
pany. Mr.. Steilwagen what was going on
IN his company and was 1t the intention to
increase the dividend. which is now per
cent The reply received was in the mega
tive. and then another broker suggested
that perhaps 1t was the intention to trans
Ter the storage business of the company to
new company. to be formed and give the
stockholders chance to subscribe TO the
stock OF the new concern at par.
The purchase OF a new site for the home
OF the company. as announced later In the
day and the proposed erection of fine
which might be considered as supplying
good outlook for the stockholders.
The call, however, went on without any
response being made to this latter suE-
sesfion, and there is nothing definite known
On this point. In a general way 1t may
DC stated 1t IL understood that. in the first
place. the company is doing a good bust
ness. and, In the second place there are
possibilities such the one outlined above
which may result In advantage to the stocR-
holders, and hence Is explained the demand
for the stock. which has IN the course OF
the past few days run the price up to some
SIX points. For some days past II has
been hanging about In the neighborhood
OF $50, so that the rather rapid advance
has set going a good deal of talk about
Some features of the trading at the meet
ms today OF the stock exchange illustrates
the contention made by some of the MEM
oers who are In favor of bringing about
q change in the method of conducting the
daily cali. The bulk of the trading was
dohe IN Mergenthaler, with Lanston sec
Cnd In this respect. Both of these securi-
tes are down near the bottom of the It's,
and We're not reached for about three-auar-
terS or an nour after the call had been
oesuh. What some of the brokers want
Is chance to do the business they have
to do without being under the necessity
OF spending as much time at the exchange
as Is the case at present
According TO the Ideas of those of this
way of thinking the entire formal call
might be done away and the members
might come In and trade with each other
Just as is done after call, or else the more
active stocks might be called first and at
tention given to the balance of the list
later on.
This matter of change In the method
of conducting the cali is not a recent sub
ject of discussion, but has been ND fire.
quently In the past, but nothing has been
done 1t looks now that some change
might be adopted before 1t is finally drop
ped again. but exactly what form it will
take, of course, Is not known.
Over 800 shares of Mergenthaler were
traded in and the high record of recent
prices was not only maintained, but a new
ate dimensions. The advance in the range
of the selling was about two points. al
though more notable progress was made
in the case of Lanston, which reached
15L4. The volume of the trading ran UP to
about Loco shares, and the upward course
was nearly an entire point In the case
OF Lanston the better market for 1t is ac-
of a declaration of dividend at the COM
ing annual meeting of the stockholders
next month, while for Mergenthaler the
only thing that is said about It, Is the
business of the company justifies better
prices for the stock
The electric railway on the Virginia side
of the Potomac leading from the Aqueduct
bridge to the Great Falls is meeting with
great success so its officials think It has
been in operation less than week now and
during that time the receipts from the five
cars which thus far constitute the entire
rolling stock OF the road has amounted to
more than the operating expenses of the
company. The receipts for the first five
days averaged about $40 day. The north
ern terminus of the road is not within g.
mile of the Great Falls. so that the interest
IN that spectacle Is not the principal source
OF the travel on the new road.