The Washington herald., 1907-12-19

Business on the Washington Stock Ex-
change yesterday was at a low ebb.
The brokers came upon the floor without
any orders of consequence. and the ses-
sion passed more like a talk fest" than
serious piece Of business. The trans
actions were 159 shares Of stock. 100 of
which were Mitchell Mining. and the
bond sales footed up at 81 .2S0 face value.
Outside Of Mitchell Mining, Washing
ton Railway and Electric preferred was
the feature Of the trading. The stock sold
in fractional lots AT 81 and 62Is. brokers
standing ready to take what was offered
at these figures.
Trading in the preferred shares OF this
stock. and alleged purchases Of the com
mon stock on the side at figures lower
than The official quotation price. keeps
rumors afloat as 10 what the company
may do when the stockholders meeting
is held on January Is Several persons
interested largely in this stock have been
asked 10 give expression 20 their views
upon what is likely 10 be done with refer
eRce 10 reorganIzing the company and
putting il upon new basis.
Washington Controls the stock.
one large stockholder, who requested
his name to be withheld, stated that il
was his understanding the control Of the
company in shares and voting power of
the stockholders is now in Washington.
The voting trust that has managed the
company's affairs having expired by linn
itati0n, he said. the property now reyerts
back 10 the stockholders, and IL is for
them 10 elect board Of directors. The
board Of directors will elect the presi-
dent Of the company and other officers.
This stockholder said he was certain
the directors &c be elected would be local
men. He thought they would be men OF
large business interests and men who
had the good OF the company. as well
the good OF the city az heart. He said
these men naturally would want an
efficient street railway service. Dividends.
he thought could be hoped for on no
other basis. and he declared that so far
as he knew there was no faction or
factions who We're seeking TO run the
company
say No Faction Controls.
Another stOckholder. who believes him
self TO hold and control a larger number
Of shares OF the stock than any other
one person. talked quite freely about
the coming election He declared the
stories floating around were mostly un-
true. He said the stock of the company
was pretty well scattered. and ne thought
Il would not be easy for anybody to con-
troll the election and policy of the COM
pany through voting the stock This
stockholder said he personally had no in
terest in becoming a director or an off,
Ger in the company. He said his shares
and those he controlled would be signed
over as proxies If he was assured that
a directorate Of local business men would
be selected and a president for the COM
pany who was also q local man Of good
business standing
This stockholder said, This is what
viii happen. as far as il can be pre-
dicted now. The books of the company
viii close about December 20 10 determine
the stockholders record. The meeting of
stockholders has already been called for
January Is. The directors will be chosen
from among prominent stockholders. who
are we'll known business men here in
Washington The directors 10 be elected.
whom nobody can name now. viii elect
the president. Who this man will be I
cannot tell. because do not know One
or two men have been named for the DO
sition. but the real man is just as likely
10 be somebody else as one Of those
named.
Want Local Men Elected.
I have talked with majority Of the
larger stockholders in the company. and
50 far as I can learn it is the desire of
them all that the strongest directorate pos
sible Of local business men shall be elect
ed To such a directorate the management
OF the company can we'll be intrusted.
and ! am sure they would make no mis-
take in the selection Of executive officers
who will build up the company, improve
the service, and stop much Of the criti-
cism now being directed against the man
agement OF the system.
Those who have more recently invest
ed in the securities Of the company have
strong faith in the capacity OF the sys-
TEN 70 earn money. and it was because
OF such faith that they bought the stock
Now it is UP 10 them as sagacious busi-
ness men TO put the company in a posi-
ton to make good and I believe that viii
be done
No stockholder could be found who
would'admit that any plan or plans had
been formed 20 force the election OF any
no mi