The Washington herald., 1907-10-01

F1fty-fOUr shares or stock and &t-olV IN
bonds was the extent Of the trading on
the Washington Stock Exchange yester-
day. and. judged by the record it was
a duh day Really. il was a lively day
on the exchange. and rarely has there
been equal interest In the proceedings.
The halt in operations cannot be at
tributed to anything but the confidence
of brokers that prices are 20 go higher
on nearly all the local stocks. The fact
| is. none Of the active issues can be had,
except in homeopathic doses. The stock
is not in sight, because il is being held
for a rise. This is the attitude Of prac-
[ tically everybody talked with IN two
weeks with reference 10 their holdings
Even Mitchell Mining. which is possibly
| the least alluring stock on the board, has
good support, and is not falling in price.
| In fact. many are ready 10 buy il, and
when a block is offered it brings a good
price.
/ Yesterday, IT was announced that a
block Of Washington Railway and Elec-
| trio preferred was 10 be sold TO the
highest bidder. Fifty shares Of it went
al the COW bid Of Saturday. and the price
was not in the least weakened. The
situation is practically a deadlock. those
having the stock won't sell, and those
who would buy are not desirous Of doing
/ so az higher prices.
Brokers Aggressive on Gas.
The bidding on Washington Gas yes
terday showed that the aggressive move
ment 10 acquire this stock is still on
In fact il was n0ised around among
( the brokers offices yesterday afternoon
/ that the men having standing orders TO
/ buy Gas had been reading the riot act
/ to their representatives on the Exchange.
and that the latter had been told to
/ buy and 20 do il soon.
Under the inspiration OF the instruc-
/ ti0ns. one broker scuUied about town
nearly all the afternoon and succeeded
/ in getting together 1000 shares, all he
/ could scare up in the financial district.
/ What be paid lor them he would not
/ tell, but il may be assumed that he paid
/ more than the closing bid price on the
! Exchange yesterday. Moreover this is
| but a small part OF what he is commis-
| stoned 20 buy.
/ Some announcement Of the plans OF the
/ Washington Gaslight Company. with ref
! erence 10 IT'S application TO the court
/ for permission 20 increase It's capital
I stock. following - general programme
I of the Georgetown company, or some
I other move 10 dispose of fits accumulated
surplus. is expected within few days
/ knowing ones stated yesterday afternoon
/ that this statement would be forthcom-
ing within a day or SO. and that IL would
be in the nature Of a good thing for
/ the stockholders.
what the Company Can Do.
There are about three things which the
Washington company can do. One is thai
Indicated, apply 20 the court and in
/ crease the capital stock from $2,6tQ610 "a
some other figure which has been ru-
mOred as high as four 60 one. and divide
the shares among the present share hold
/ ers 10 be followed hy "a dividend. An
[ other thing the company might do is q
/ redeem its outstanding certificates. An.
other is 20 declare a large dividend UpoT
the stock of the company sufficient q
dispose Of the large surplus the company
Is reported 70 have IN its treasury. som,
one Of these things. or something equally
/ as 5000 l1I Llit rltlAlbilcle+ ls lllUAEL II
TO be pending. which accounts for I'll,
advance in the price Of the stock from
about S56 n share 10 So a share within
the past three months.
Stockholders of the Mitchell Mining
Company yesterday received from New
York "a letter signed by George Mitchell
as president of the company. in whicl
they were warned not 70 part with yot
ing proxies, until they should receive
letter from him setting forth details O
the attempt made 20 oUst him from III,
presidency during his absence in Mexico
No intimation was given when the lette
might be expected Meanwhile, il is un
Iderstood that control Of the company ha
already been secured by the directors
and that when il comes to q show dow
the fact Will be made apparent.
\ man In close touch with the affair
of the company stated yesterday tha
: matters were slowly working out to tn
betterment OF the concern and its stock
holders.