The Washington herald., 1907-10-06

Business on the Washington Stock Ex-
change yesterday was dull. There was a
small attendance of brokers. and those
who were there seemed 10 have their
minds fastened more on the baseball
game than upon the stock market The
transactions We're $4,000 in bonds and 22S
shares of stock, 10 which should be added
two options of 100 shares each Of Wash
ington Gas az sixty days.
At the opening there was a good call
for traction bonds. which was not fully
satisfied by the amount for sale Capital
Traction 5s sold in $1,000 denomination
from 11Oi4 up 10 ll0lz. and even better
bids were made for the same or larger
amounts One sale of $4,000 worth OF
Washington Railway and Electric Is was
completed az So
Some interest developed in Washington
Gas, and for some time the bidding Was
lively. 1t soon became evident that not
many sales could be made. Several
brokers W3nted fractional lots and these
were SUPPLIED after much laggiing over
the prices. the holders wanting more than
the buyers wanted 10 give. Finally, the
trades were fiXed up, after considerable
exhibition Of patience on the part Of
Uncle William Hirt who temporarily
occupied the chair,
Brokers Turn to Options.
When il was discovered that business
was at a deadlock. so far as trading IN
the stock was concerned. attention was
turned 70 options and several fanciful
bids were made for them. At the close
TWO were recorded-One az 50 and one at
SOS. Then Unexpectedly one broker was
given so shares Of the stock at g. about
the highest price paid for that number OF
shares on the present movement
Along down the list was some scattered
trading all in small lots, except Mitchell
Mining. which recorded the sale OF 100
shares at $I.2s a share. Il was expected
that some definite news would be re-
ceiyed yesterday with reference 10 the
dc.nss of the board OF directors Of the
Mitchell Mining Company in New York
al its meeting on Friday but none was
forthcoming. and the price on the local
board was pegged at the high quotation
in New York for the day.
L. a \. Report Interesting.
Considerable interest is taken in Wash
ington over the publication Of the annual
report Of the Louisville and Nashville
Railroad Company In spite Of hostile
legislation and all the bogies which have
threatened the financial world, the report
shows q substantial fattening Of the in
come Of the system. But the most sig-
nihcant item ia the report is the increase
% %-,s655-s Of the expenditures for addi-
uons and betterments. This amount 3
over and above the usual expenditures
Tor maintenance and represents SI.0Sf. .sl4
for new equipment and SlSS3, 92f for i'm
provements OF way and construction. Yet
after all this additional expenditure. with
ia fixed and direct charges against the
income. there is left $GFo.529 net reve-
nue.. equal 10 nearly II per cent upon
the capital stock
These figures cause surprise for two
sTeasons. First. that while this and other
railroad systems are earning al this rate.
their securities are selling I'M an the
financial Centers az the lowest point in
years. At other times this report alone
would have been sufficient 90 bGI the
stock OF the company twenty-five points,
Yet no such thing has happened to Nash
Vile stock, or is ukely 70 happen this
year.