The Washington herald., 1907-09-26
PRICES REMAIN FIRM
Railway Bonds and Gas Lead
on Local Exchange.
CONTROL SITUATION
Much stock Wanted for Which Or
ders Cannot Be FiIled-Strength in
In the Bank Shares-Greene Copper
Company Passes Dividend.

The same firm tone that has character
lied operations on the Washington Stock
Exchange for a fortnight was apparent
again yesterday. and the higher prices
served 10 loosen up some Of the securities
that have been held for a rise, and fair
volume Of business came out. The trans
actions Of the day We're $50 shares Of
stock and S13,500 in bonds
Among the bonds Washington Railway
and Electric As was the leader. a total
of $11.000 selling from 50 to sos. A few
weeks ago any such amount Of bonds
thrown upon the market in one day would
have smashed prices TO smitheceens. and
this one deal shows as forcibly as any
thing can the better conditions now pre-
vailing in the local speculative market.
This performance in the bonds was du-
plicated in Washington Gas. Some of the
brokers who have been haggling for bet
ter prices concluded yesterday to unload.
and the calls for the stock being urgent,
as The Washington Herald has been say
ing for several days. prices took an im-
mediate jump from "A to 747s, and the
opening price was a fun point above the
figures Of the preceding day.
Reasen for the Rise.
The fact that the Georgetown Gas hear
ing was on yesterday. with fair prospects
for success in the effort 10 gain the
courts consent to the increase of the
capital stock Is not sufficient explanation
for the rapid rise in the stock for the
past two weeks The fact behind il is
that various interests are hot-footed af-
ter the stock. and the holders. who are
willing 10 sell at all, are IN a position 10
name the prices at which they viii let
their holdings go. It is understood TO be
fact that there are standing orders on
the books Of brokers for several blocks.
ranging from 200 20 500 shares. which
have not yet been even partially filed.
With limited supply OF the stock pos
sible TO be purchased. it does not take
much Of a dnaEcier TO figure out that
the price must come up before these or
deTs can be filed.
The railway shares yesterday did not
cut much figure In comparison with the
bonds and Washington Gas. but IL was
noticeable during the call that each OF
buyers were ready 10 gobble up any lots
OF them that might be offered. None Of
the shares were placed on record. though
the bid Of railway common was advanced.
and the preferred stock Of the Washing
ton Railway and Eletcric Company was
very firm at the bid prices.
Mitchell shows strength.
Mitchell Mining gained an eighth on
sales and seemed a bit stronger
Fractional lots Of metropolitan Nation
al Bank shares were sold at 3oS and S09
These shares are as scarce as hens teeth.
and whenever any Of it is sold. II is al
ways az good figures. Ten shares Of
United States Trust stock sold at q,
which appears to be the market price for
the time being.
II was officially stated yesterday that
the Greene Copper Company has passed
the dividend on the stock. The expiana-
ton given is that II would not be expe-
dent. under existing conditions Of the
copper market. to pay the dividend
An interesting bit Of gossip was let out
yesterday as the call reached Mergen-
thaler and LanstOn. 10 the effect that a
composed OF several well-known
New York capitalists have formed q stock
company to promote "a process for in
definitely preserving the face Of linotype
slugs in perfect condition AT a nominal
cost It was said the company had ample
financial backing. and that the stock of
IN e concern would shortly be placed
among other similar securities on the
New York curb