Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-12-11
RAILWAYS ACTIVE.
SIGNIFICANT HAPPENINGS ON
THE EXCHANGE TODAY.

Inc interest at today S meeting or the
stock exchange as well as the bulk OF the
trading centered about the railway secu-
| rites, and in the case of both the bonds
and the stocks of the two city systems
something happened that served to arouse
| attention.
| In the first place the bonds of the Capt.
tai Traction Company recovered the level
where they were before the semi-annual
| interest was paid, and sold for 1lOA. The
bonds OF the Washington Railway and
Electric Company were offered at "a. a
point less than the asking price of yes
terday, while the bid was 1884. The
transactions in the bonds were not large
in either case.
When the common stock of the Wash
ing Railway and Electric Company was
called a broker who eviuently had some
stock which he wanted to find market
for, offered it down to %, while he bid
%. The asking price was the bid of yes
terday. He did not find market. but he
did not withdraw the figure, and this
course, which is different from that which
has been pursued on the exchange for
some weeks past, excited some comment.
There was no change made in the fig
ures for the preferred stock, and over 100
shares We're sold in ten-share lots for 81,
which was the bid price yesterday. At
the close of the trading the figures were
the same as those of yesterday, namely,
"a bid and IS asked.
The principal buyer of this stock caused
something of sensation by bidding SIS
per thousand for proxies on 5000 shares
Receiving no responses to this bid, or, in
fact. any offering of proxies at any figure
after call he raised his bid to $50, but
equally without result
This is the first public announcement
that there is any effort being made to
secure proxies on the stock of the Wash
ington Railway Company, presumably for
use in the election of the company. which
is to be held on the Goth of next month.
The books for the transfer of the stock
close on the 18th instant and after that
time the stock can be voted only by the
stakeholder of record
II IS said that a canvass for proxies has
been going on for some time, but it is
not clearly known in whose interest this
is being done. Before the meeting of the
STOCK exchange a member of brokerage
firm said he was bidding $3.50 per thou
sand for proxies on this stock.
In addition to what had already oc-
CURED during the call in connection with
the railway securities. after the call 1875
shares of the stock of the Capital Trac-
ton Co. were sold in various lots and
by one broker at prices ranging from
123 to I'D. and were offered at the latter
figure without being taken.
Yesterday the bid for this stock was
125. so that this selling shows a decline
of about three points from the level Of
yesterday. and marking the lowest point
reached in this stock in recent times.
The movement in these securities was
Interesting from several points of view.
and while it may be merely coincidence
that the securities of both systems were
thus affected, still this circumstance is
likely to give force to the gossip that
has been current for some days now in
financial and other circles relative to the
probability of a merging in the near flu
ture of the two systems.
Some go so far as to say that active
steps have already been taken and that
negotiations are now in progress. and
others. while expressing their belief that
something of the sort will take place.
are not inclined to think that it is going
to be done right away.
Another phase of the same situation
was expressed today by one of the lead
ing members of the exchange and also
an influential man in financial circles
that early next month he thought there
would be some Developments in the
Washington Railway Company that would
have a good effect upon the market.
1t is the theory of some that the COM
ing election of officers of the company
will not be of much significance as in
all probability there will be no effort
made to do anything that would indi
cate a change in the control of the road
at that time, but rather if such change
was possible that it would be deferred
until the financial situation generally was
more settled. In other words this policy
would be to make no changes for the