Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-01-22
LOCAL FINANCIAL NEWS.

An incident in the trading at the meeting
of the stock exchange today that aroused
some interest was the purchase of a block
of FIVE hundred shares of the common stock
of the Washington Railway and Electric
Company. Such block. as we'll as larger
one, had been offered for sale by the prin-
cipal trader In this stock, and finally nve
hundred shares were taken at 427s, and the
buyer afterward bid one-haR for another
similar lot
While 1t is not unusual for trades of this
size to take place on the exchange. yet as 1t
frequently happens the purchaser is also
the seller of the stock. and such transac-
tons for some reason do not seem to have
the significance that attaches to trades
when the buyer and seller are different
brokers.
The range of the trading in this stock was
from 42Ts to 42M. and at the close the bid
was one-haf and the asking price three
quarters. There was a demand for the
stock at a slight fractional reduction from
the last asking price. which was not en-
tirely satisfied, but beyond that the trad
ing did not seem to have much more life
than has been the case for some time past
The level of Saturday was maintained.
There seemed to be quite good deal OF
the preferred stock that could be had al
S97s. and some sales were made on that
level, and the range has become shghtiy
wider. But at the first mentioned inquire
there were apparent indications Of some
general selling, as several lots were to be
had at that price.
A thousand shares were offered at SOS.
without takers. The bid for a quotation
lot remained at S91i. In fact the demand
seemed to be limited, as was the case in
practically the entire list, with the excep-
ton of Railway common, for in that the
market seemed to be ready to take good
quantities at fractional recessions from the
level of current figures.
There was some trading done in the D
per cent bonds of the Potomac Electric
Light Company, which is owned by the
Washington Railway and Electric Com
pany. Under this buying the prices advanced
from 1885 to los, the latter being the high
est record made In this security since II
was listed. At the close the bid was 1919
and the asking price 107.
The total issue is about one million and
three-quarters and 1t Is supposed that one
method of financing the cost of the pro-
posed new power plant, which Is planned
to be built in the eastern portion of the
city, is to issue some of the bonds OF the
already authorized issue, which amounts 10
four millions of dollars.
The stock of the Second National Bank
was again dealt in to a considerable extent.
to 1851 The stock was quoted at the close
ex rights and the bid was then 1907, This
figure gives the estimate of the value of
the rights of subscription to the new STOCK
at about S25.
AS the stock has not before been sold
ex rights all sales thus far made carry the
privilege of subscribing to the new issue,
although the books were closed several
days ago. But as no notice was made of
it to the exchange the question was raised
whether the recent sales do carry the new
privilege.
The Security Storage Company. which
will take over the storage business of the
American Security and Trust Company,
was Incorporated today under the laws OF
the District. The board of directors for the
first year Will be Charles J. Bell, Henry F.
Blount, Clarence F. Norment. Henry Hurt,
William j. Father Albert NJ. Read and
Clarence \. Aspinwall.
The capital stock of the new company Is
100000.