Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-05-31
LOCAL FINANCIAL NEWS.

Owing to the half-yearly interest becom-
| ing due tomorrow on several Of the bonds
listed on the exchange they were dealt In
ex-interest, and, a rule, the difference IN
the figures quoted today and those at the
last session of the exchange represented
exactly the amount of the coupon that has
just matured.
from the list, as they are to be paid off to-
morrow at a premium OF 100 ana Two
| months interest. with portion of the pro
ceeds of the new per cent bonds. me
bonds of the last-named issue were dealt
in for the first time in place of the rights:
One of the per cent bonds solo for lOSts.
and the bid rose to 1851, which is a point
higher than the asking price at the close or
business Wednesday.
An advance was made in the bid for the
Columbia Railway fives from JOG, which
was the last recorded bid, to 1Oala.
A couple of bonds of the Washington
Railway and Electric Company sold Tor
S1hs. which was the bid price of Wednesday,
less the 81 coupon. The asking price re-
manned at that level at the close. and the
bid was an eighth of point less.
The Potomac Electric Light fives and the
Norfolk and Washington Steamboat fves,
less the interest of $50, had the same
figures quoted without any TRANSACTION
But languid interest was shown in gas.
The principal buyer of that security OF
cent days, would have been seller only
there were no buyers. He offered any part
of 100 shares at "a. and the pest plu tot
twenty-five shares was an elghth OF poiic u.
less A couple of lots were taken at %
and CAS-.
According to a dispatch from Boston the
statement Is made in banking circles IN tnat
city that the American Telephone and iele-
graph Company will issue $loOOOUo stoCk
this summer at par. and like amount early
next year. The current quoted price lor
this stock is 116-the lowest, with one eA-
cepton for years-is believed to connrm
this theory. 1t is also stated that changes
of financial policy are being worked OUT 50
as to make possible the wiping out OF tne
floating debts of the constituent companies
and tt keeping Of the parent company
financed ahead Of its actual cash require
ments.
The floating debt Of the constituent com com
pany operating in this territory at the cios S
of last year amounted to over $i,Ooooo
In addition there are 81 100000 5 per cent
bonds and stock issue of $26oO,OOo
The discounts allowed by the American
Telephone and Telegraph Company to large
customers in the long distance toll service
are to be discontinued upon the termlna-
ton of existing contracts or, when the terms
of the contract permit, within thirty days.
The purpose in giving these discounts was
to induce the more extensive use OF tne
long distance telephone in competition with
the telegraph.
This purpose having now been accom-
plished it is claimed. the toll business Is
to be put on an equal basis for all. The
leased wire service. 1t is stated. will not be
affected in any way by the action taken
in relation to the toll service.
The per cent certificates of Indebted
ness of the Metropolitan Railroad Com
pany mature tomorrow, and will be paid
by the Washington Railway and Electric
Company. The outstanding issue Is $780,
600.
None Of the other underlying bonds OF the
pany will mature until the year 1914. at
which time the and per cent bonds or
the Columbia Railroad Company, amount
ing to 81, 900, 900, will be payable. Under the
terms of the issue of the per cent bonds
of the present company an amount suffl-
Gent for the redemption of all the under
lying securities has been reserved for that
purpose.