Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-02-20
LOCAL FINANCIAL NEWS.

The interest in the market on the part
of the public. as well as Of brokers. Is
largely conferred In the stocks OF the
washington Railway and Electric Com
pany- 1t is not difficult to understand
why this should be so. as the local hold
ings In these securities have been added to
during the past year or SO. and also be-
cause OF the future of this property in It's
capacity as an Garner of money for the
stockholders.
For both of these reasons, 1t fs stated,
there have been efforts which are still 60
ing on to get control OF the company in
the hands of local men, especially in view
of the fact that next year the voting trust
expires and the control of the properties
will pass into the hands of the stockhold-
erS.
It has been conjectured that the recent
movement downward In these stocks indi-
Gates an attempt TO get blocks OF them at
a less rate than the current market prices
by sort of forcing-out process. hut there
seems to be impression that IT Will prove
to be failure, and from this point OF view
1t Is asserted that the present slump mas
come to end and that the low lever mas
about been reached.
The theory is held that securing major
ity of the common stock wouii place the
control of the property in the handS Oh the
owners of such stock. as 1t would be posi-
bic to secure from the holders OF the pre-
ferred stock sufficient number of proxies.
The present figures for the common STOCK
is thus explained, as such a plan gives IL a
value which non dividend-paying stock
it might not otherwise have; even with good
future prospects,
According to the current gossip of the
street there are several independent moves
now being make to get hold of the controi
of the property, and the process of shaking
out stockholders. which, 1t is believed, ac-
counts largely for the course of the securi-
ties in the market for some time past, IS
looked upon as directly due to some policy
of this kind.
In this connection. there is talk of a posi-
bilfty of bringing together in some form OF
community of interests both the street
railway systems of the city. and there are
those who look upon such scheme as the
solution of the problem of disposing or the
surplus OF the gas company by making that
corporation an interested party to such
transaction
The course of the Washington railway
stocks at todays meeting Of the stock
exchange was upward instead of down
ward. This change was on about the same
scale as the receSsions of the past few
days. SO that the gain today was only frac-
tional.
The seller of previous days was the buyer
today and he also had the stock for sale,
but at a somewhat higher price. The pre-
ferred stock was to be had in large guam
titles al SSa4, after all the stock That could
be secured at an eighth of point less
had been taken.
The common stock sold for 4024, that is,
the bulk of it, and then it was for sale at
an eighth higher The state of the market
might be indicated in some degree by the
advance of the bid for large blocks TO Ala,
while quotation lots We're to be had at H.
The bonds of the company were traded
in on about the same level as was the case
on previous days, the only difference being
that the volume of the trading was larger
The bonds of the gas company were also
for sale and went for about the current
rates there being no change in the figures