The Washington herald., 1907-11-01

Mitchell Mining came out on the
Washington stock Exchange yesterday
TO the extent Of 400 shares. Tie
bulk Of II sold at Is with one sale at
p and the closing bid al T. This was
the first real unloading Of Mitchell
since the meeting OF stockholders in
this city last week The shares yes
terday were brought TO the exchange
by a single broker and sold 10 several
bidders. on the whole the support
given The stock was excellent. the bid
ding al one time being 5s for 1g90
shares or any part
Aside from Mitchell Mining shares
bonds were tagaiu iu evidence. $500
being sold in CeDital Traction 5s. CO.
lJmbia IS. and Washington Railway
and Electric As Capital Traction IS
all went on record AT l1l1z. and the
others at the prices which have pre-
vailed Of late. Washington Railway
and Electric preferred stock sold iu
scraps al fractions above Sc, and
few shares OF Mergenthaler went under
the hammer AZ 199 and 200.
Brokers Sean Gas Report.
Considerable interest was taken, late in
the afternoon, in the report of Referee
Payne upon the Georgetown Gssligat
Company's petition TO increase its stock,
from $4,000 To $500,0o0 The report
seemed 10 be about what was expected.
and the showing was pronounced CRAFTY
ing by those who have an interest in the
/ local gas stocks. Taking the auditor
statement that the total cash value of
/ the Georgetown g8slight plant Is $s70.1I,
brokers say the court viii hardly hest
/ tate 10 grant the petition, as the amount
/ Of assets is nearly 10000 in excess Of
the capital stock asked for.
/ From another point of view the report
/ was regarded favorably, as il shows that
/ the Georgetown company might have
given three shares Of new stock for one
. Of the ola without exceeding the amount
| Of its plant. according TO the appraise-
ment submitted.
/ Washington Company May Follow.
! Local dnauciers expect the Washington
I Gaslight Company To follow in the track
! OF the Georgetown company. and petition
/ the court for permission 10 increase its
/ capital stock The only doubt upon the
| point seems to be the near approach Of
/ the assembling of Congress, when the
/ company must file a full report of its
.
/ opinion that nothing could be gained by
/ Crashing the value Of the plant out in
| court prior 70 that time. II is intimated
/ that the Washington company viii uie
/ its report. according 10 the law uf Con
1 gress. and then base its petition upon
/ that report or voluntarily reduce the price
/ Of gas 10 a lower figure. leaving the capl-
| t.iiZatiou of the company as 1T is
/ Whatever may be done, IT is claimed
/ by those processing 20 know something
/ Of the affairs of the Washington COM
pany that fl can make a much better
! showing in the way OF assets than the
/ Georgetown Gaslight Company has done
brokerage Office Closes.
Financial washington heard yesterday
about noon with much regret. that a. o.
Brown q Co, 0f New York, had decided
To close its Washington office. in the
/ Munsey building. and go out OF business
| al the Capital The firm sent +. j.
Weeks from New York TO assist George
r. EdmUuds. manager, in closing the
I Washington Office The business was dis
/ continued last night and the ticker SER
vice shut of The office viii be open
! for a day OF two, for the purpose OF max
ing settlements. The reason assigned fol
this action by Nj Weeks is thar Tile
company. finding il necessary 10 reduce
expenses considerably. had determined %
close their offices in Washington and
several other points
At a meeting OF the directors Of Jh.
Firemen-s Insurance Company +. Ct
Davis was elected president. To succeed
the late A A. Wilson. William J. Wilson
was elected vice president and Allen Z
Walker a member of the board or d.
TcCtOTS.