The Washington herald., 1907-09-28

Business on the Washington Stock EX-
change yesterday fell back into the old
rut Of holding on 10 stock for higher
prices. The trading switched to Wash
ington Railway and Electric preferred
and Mergenthaler, while Railway Com
mon and Gas We're practically neglected.
In fact prices were held so firmly IN
hand that there was, 70 all intents and
purposes. no stock in sight, except In
the issues mentioned and few scatter
ing sales elsewhere. The transactions of
the day were 81 shares Of stock and
81 800 in bonds.
On call the price Of Railway common
was pegged at 35. with no offerings lower
than Sc. After sales OF fifteen shares the
bid sagged back 20 "a 3-4, which was left
as the bid price for the day.
II was stated yesterday that a large
block Of this stock Is desired by Wash
ington capitalists. and that for some
time feelers have been out for II. in the
hope Of gathering in some Of the float
ing shares held as collateral in banks
and for speculative purposes. Should this
statement prove true, the reason for the
strength Of the stock for the past few
weeks would be explained.
Gas Makes No sales.
No sales Of Washington Gas were re-
corded yesterday, though the bidding for
the shares went through nearly all the
combinations between 74lk and 75z. with
out result Finally the bids were with
drawn. and the official bid price left al
'4lz- Indications were not wanting yes
terday that this stock would be allowed
TO rest temporarily IN the hope Of bring
ing about condition that would induce
some Of the holders 80 part with IT,
Mergenthaler yesterday awoke again.
and twenty-five shares were sold at 2Os.
about the market price before. it was
marked ex-dividend a fortnight ago This
Is regarded as one OF the investment
stocks on the board, and for more than
year has sold a gradually advancing
prices. It has at times suffered fuctua-
tons within narrow limits. but has al
ways recovered lost ground quickly, and
gone 20 a little higher level
News that was expected in regard to
the action Of the directors OF the Mitchell
7
terday, but the fact did not suffice 10
weaken the price for the shares. A lot Of
100 was sold az $50 a share. with the
stock offered at one-eighth higher
Goes to $ Per Cent Basis.
Evidence was presented on the Ex-
change yesterday that the American Ma
tional Bank is one Of the money. makers
Of the District. As the call was made
on the stock. Secretary Woodruff read a
letter from the president Of the bank.
stating that a quarterly dividend on the
shares had been declared. payable on
October 10 10 stockholders Of record. Sep
tember 30. The declaration Of this divi-
dend makes two important changes with
reference 70 this bank. The dividend
paying period is made quarterly instead
Of semi-annually, and the rate is raised
from 6 TO S per cent for the year.
A meeting OF the board Of directors Of
the Carter Motor Car Corporation was
held in the Munsey Building yesterday
afternoon.
The following officers were chosen for
the ensuing year: A. Gary Carter. presi-
dent; ". d. Arrison. first vice president
and assistant general manager: W. Z.
Berry. second vice president: EtheIbert
Baler, third vice president: Mai George
E. Pickett, fourth vice president: Frank
L. Carter treasurer and general man
ager. ". Shirley Carter. secretary and
assistant treasurer; J. Z. Welsh. assist
ant secretary, and L. L. Stephens. resi-
dent agent. Pierre. 5. Oak
In addition TO other business transact
ed, the board Of directors decided 70 con-
tiaue the policy Of the building commit
tee 10 rush TO completion. at the earliest
possible date, the Eastern factory, at Hy-
attsville. Md.
Decrease in Foreign Grade.
According 10 a report from the Treas
ury, the exports Of foodstuns is the only
class of articles IN the foreign trade of
the United States which show for the
eight months ended August 81 a decrease.
compared with the like months of last
year. The falling of amounted 10 S1.56g.-
fS in value. The imports Of foodstufTs.
on the other hand increased S39. .S5I .569.
The greatest increase Of the several
classes was in the exports OF crude arti-
cies for use in manufactures-SG0.53 .535. .lI3.
The totals under the several heads and
the Increases compared with the eight
months Of 1906 are: