Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-01-04
LOCAL FINANCIAL NEWS.

The street railway situation Is becoming
decidedly interesting. not to say animated.
All the big men in the business seem to be
contributing to the entertainment with the
regularity of vaudeville artists doing their
turns. First or the boards appeared Mr..
John r. Mclean. the president OF the Old
Dominion Company. He pleased some of
his hearers and puzzled others by the COM
ment that thereafter there would be no
friction between his company and the Cap
ital Traction Company. and that as an ev-
idence of this there would be no opposition
on his part to the bill before Congress ask
ing cross-town privileges for the latter
road.
After that startling piece of amicable
news had been given chance to percolate
through the understanding of the street.
Mr.. Charles c. Glover dashed before
the footlights and notified the rather star
tied audience that he had given up all ofn-
cial connection with the Capital Traction
Company a relation which had been main
tanned for some thirty years. and in which.
according to the ideas of some people, he
had been the dominant influence.
If gossip had been going on before these
items OF information were given out tt
went on after that with redoubled fury.
There was talk of combinations and merg-
ings and changes of control and all sorts
of high finance jinks. involving not only
both the street railroad systems of the Dis
trict but also the one that Is intended to
bind the Great Falls Of the Potomac with
this city
AT this juncture Gen. Harries the vice
president Of the Washington Railway and
Electric Company, stepped forward and put
In fat waiver of all completely on the
part or his comp any, either direct or indi-
rect, with any plans or schemes for the
merging or bringing together In any form
OF the street railway and lighting interests
of the city.
While before the footlights Gen. Harries
TOOK occasion to say, with great earnest
ness, that his corporation was not paying
any attention to the talk about such things
and that. with their eyes fixed steadily on
the chartered rights and duties, they were
attending only to the work of managing
its business in the way that Congress has
directed, according to the statutes in such
cases made and provided.
In the meantime that section OF the COM
munity that is holding on with more or
less anxiety and difficulty to certain blocks
of the securities In these concerns are all at
sea as to what exactly to think or believe.
To some extent they are inclined to place
their trust in the combination gossip, for
that is the way of such things in these
days, but then. on the other hand, are the
official statements which in part confirm
and in part oppose such a conclusion.
The announcement was made today of
the sale by Stilson Hutchins of his seat
on the Washington stock exchange. The
price paid was $4,000, which Is the third
transaction on that level within the past
few months and Is the highest notch yet
reached In the price of membership in
that body.
The purchaser is Raphael A. CASTELAR,,
the senior member of the real estate firm
of r. A. CASTELAR, & Co.
What was apparently an effort to sound
the market for Capital Traction stock
was made today at the meeting of the
stock exchange. At first rather large
blocks were offered for sale at the pre-
vailing market rate, or the one that has
been quoted for some time past, namely,
fractionally over $50.
No encouragement was given even by the
representative of this interest on the board
and in fact he rather intimated that he did
not consider the stock worth any such
price, at least to him, and 50 made bid
of 145 However. the stock was offered
lower than has been the for some days
back but, of course, It was not developed
how much could be had at 14Sk which was
the last word on the subject. The bid did
not rise above 145.
In regard to the preferred and the COM
mon stock of the Washington Railway and
Electric Company, both were to be had on
about the same level that has prevailed
The former was to be had at S914 and the
latter at 42A, but no effort was made to
find out how much was available at these
figures
Nothing was done in gas stock, but there
seems to be an impression that there Is a
market for all that may be offered between
80 and 60. A fifty-share lot was snapped
up promptly at the meeting yesterday for
sos.
Greene Copper continues to be traded in
at 301a and upward, and there are those
who look to see better prices for this stock,
a belief which Is based upon the improve
ment in the market for the mineral.
The same influence is also looked for to
make the Mitchell mining stock go higher,
and some progress has been made in that
direction already. In these stocks as well
as in others on the list increased activity
Is expected as soon as conditions change
somewhat, and money loans are more read
lily to be had than at present is the case.