The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1907-03-06
LOCAL FINANCIAL GOSSIP.


Public utility stocks were again the
feature at the meeting of the Washing
ton Stock Exchange yesterday. Washing
ton Railway and Electric common fuc-
t;1ated considerably In the dealings, and
closed strong at II. Washington Gas was
quite freely offered. but the stock was as
freely taken. and not much change in
prices was made The call for Capitol
Traction seems 10 have exhausted itself
for the present. and few transactions in
that stock were recorded.
Mergenthaler scored a few sales, and
kept its lead on the high level set for it
last week.
The report OF the appraisement commit
tee on the comparative values of the
stock of the Bank OF Washington and the
Central National Bank, with view to
the merger Of the two institutions, was
reported 10 the exchange yesterday. Ac-
cording 10 its terms, holders of the stock
of the present Bank OF Washington will
be paid a bonus of s24j share III the ex-
change for the stock OF the new Bank
Of Washington. 1t was announced that
the books for the transfer would clos
March 20 the dividend on the old stock
being payable on April > Immediately
after the announcement the stock of lle
Bank of washington was pegged AT 6l0,
with the lowest Offering at $50.
The stockholders Of the Union Savings
Bank have ratified the action of the direc-
tors. and the stock Of the institution viii
be Increased by 1000 shares with pay
value OF $i00 each. The new stock is to
be sold to the present shareholders at
&22J "a share, payable March ., and any
stock NOT taken on that date viii be sold
by the officers of the bank at not less
than 500 a share.
The Citizens Savings Bank directors
have taken action looking To an increase
in the capital stock Of that institution
with a view 10 purchasing a new site
for a permanent building il is under
stood that the site viii be between Four
teenth and Fifteenth streets, on New
York avenue.
Opinions on the New York Market.
5. II. Agnew. of Henry Clews & Co.
THE heavy liquidation Of the past few
days continued IN the market to-day. and
/ see no likelihood of any change in con-
ditions until this has run its course. No
rally OF consequence appeared in the
course Of the day, and the signs all point
Z To continued depression IN the market
Tor time.
/ Herbert J.. Jones. of Charles G.. Gates
d Co.-"Contnued heavy liquidation and
/ terrific short selling continued and broke
out in new spots. a generally lower level
! is quite natural on further declines the
! dividend-paying stocks should be bought.
+ but on all substantial rallies profits should
/ be taken.
/ g. Bowie Chipmau. Of +. r. Chapman
& Co.-"Iiquidation continued on a more
extended scale, and. with few exceptions.
4 the final prices were not only the lowest
/ of the day, but reflected losses which
cannot Doe described otherwise than
/ drastic Particular weakness existed i'm
St Paul, Atchison. Union. and Southern
Pacific OF these Atchis0n Jared the
worse"
/ benjamin Woodruff, Of Post & Flagg-
/ This has been another day Of extremely
heavy liquidation and sensational de-
clncs. At 10 time was there any diff
Guilty in selling stocks. rs there was a
good market for all offerings on the way
down. but this is big mans liquidation.
/ and such movements are always the hard
/ est q gauge"