Evening star., 1906-02-23
LOCAL FINANCIAL NEWS.

After see-sawing about In a rather un-
certain fashion for some time rast. the
common stock OF the Washington Railway
and Electric Company today. at the session
of the stock exchange. took an upward
course, which in rapidity well as in thsss
distance covered. exceeds anything of the
sort that has occurred in this stock for
weeks past The net gain or range OF the
sales was from 4oss to 42h. gain of one
point and fve-eighths for the day.
There was practically but one buyer.
and he got all OF the twenty-six hundred
shares which constituted the volume of the
trading in that stock for the day, with the
exception OF, perhaps, couple hundred
shares. The broker who took all this stock
is not the broker who has been the princi-
pal dealer in this security, although ne
sits him al the meetings of the ex-
change.
Beginning at 405s, which was the asking
price at the last session of the exchange
he took ell that was to be had at that
price. and then the further buying was on
an ascending scale The largest block bought
at any time was 600 shares, and for
that the highest price of the day. namely,
42lA was paid There was another block of
go shares but the rest OF the trading was
in fifty share or 1G0-share lots and at one
time the buyer simply swept the floor of all
offerings.
At the close the bid had risen to 42a,
where 1t remained and the cheapest stock
that was then to be had was offered at
422s
The preferred did not share in the ad-
vance of the common stock. that is, to the
same extent. Better prices were paid
and bid for the stock then at the
last meeting of the board. The de-
mand not the same. There was no
one with a large order, and, in fact, during
the entire period when the decline In the
stock has been going on. there has been a
greater falling off in the market price OF
the preferred than OF the common. The
high point with the latter was about "a,
and its low point has been about So, while
in the case of the common stock the high
point during this period was about 449s
and the low point between 40 and Al, SO
that the net loss has been greater In the
case of the dividend-pay stock than in
the case OF the non-dividend stock
This circumstance seems to favor the
theory held by some that there is going
to be an effort made to bring together the
street railway and lighting corporations or
the District either the community OF
interests plan or under some general COM
pany.
The value of the common stock outside
of its future a possible dividend payer
lies in the fact that its holders become
entitled 10 be voters next year, when the
voting trust expires, and 1t is cheaper 10
get that stock than the preferred.
At any rate whatever the motive more
was paid for the common stock today than
has been the case for some time past,
while for the preferred there was not an
equal demand, but still for the few shares
that were traded in a somewhat higher
price was paid than was the case al the
last meeting.
Today the stock sold on a range of SS4s
and SSa4, and the supply at these figures
which was not exhausted during the call
was taken after the call, SO that better
figures would have been reached in order
to bring out more of the stock.