The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1908-02-16
ACTIVITY REVIVED
IN CAPITAL STOCKS
Gas Decision Last Week
Created Interest in
Money CenteTS,
Bank Stocks Strong, Many
Selling for More
Than Par.

Business on tie washington stock
Exchange has been a little more active
during the past week. ibis was IN
questionably brought about b. the re
lnoval If he lid" on the stock TX
change. Brokers were prepared 10 eN-
ec,tte orders. and stockholders were
willing 10 maze concessions i'll order TO
md buyers The theory that secGrtty
prices all over the country could so
down ten and twenty points share
while washington investments snouic
hold pat has been exploded
Investors know t1e Vaius Of their
money, and il they cannot hnd SUFFICIENT
Inducements in We shington will look
elsewhere fo- their bargains.
Question of Confidence.
II is not a question of earnings nor
az money II Is Just the question OF
confidence on the part OF the Investment
public. They have fun access 10 the TS-
ports OF thS, course of prices in New
York city. and they cannot urasrstand
why securities paying no higher per
centage on par value should rot sell
somewhere rear the same dividend
basis
There has been just one dag of dctIy-
iiy on the local exchange. one day when
offerings were al a price mat Insured
buyers, one day when Capital Traction
shares sold down 10 Us ard when more
stock was offered at the same price
one day when the common shares OF
the Washington Railway dropped 10 -,
and when more stock was offered at
/ the same price.
The bonds OF the Washington Railway
Company-that is. the Fs-declined dur
| Ing the week 10 IS to 755k. the decline
1 Friday being from IA TO T51k. with
$50 par value being sold on the de
Ginning market.
| The preferred shares Of the Washing
/ ton Railway and Electric Company
have been hrm at 81 and 644s- These
prices are nearly 10 points lower than
! the figures OF month ago-just on the
( eve Of election Of directors.
Gas Decision.
! Perhaps the feature of the week has
! been the decision Of the courts knock
/ ing the props from under the gas com
panies in their attempt 70 initiate theil
| securities. AS the result Of this de
/ cision. not final as yet, however, th'
/ best bid for Gas shares or the Wash
/ ington company has been reduced to 81
Most OF the stock bought on the id
vance WAS taken by insiders and as g
/ result IL Is not for sale.
Local investors have watched the
marke- rather closely. but they have
seen nothing 10 cause any lack OF con
! fidence in public utilities, nothing tina
1 would endanger dividends or interest
/ The hope OF the local mark e lies II
/ the wide distribution OF stocks, patC
/ for Sid taken out OF the market. Some
/ long lines. evidently collateral on cal
/ loans, have been liquidated, but tn,
/ rank and hle Of investors holds 10 IL!
| securities and has faith in their merit.
Bank Stocks.
! Another feature OF the week has beer
a revival OF interest in bank stocks
Sixty DAYS ago il was next 10 i.npos
slble 10 dispose Of stock IN the banks
Of Washington The banks OF the coUl
try were having a hard row 10 huS
! and the investment public did Tot car,
TO take on the responsibility OF acQUlT
ing bank shares. Today there Is scarce
~ auv local bank stock that viii no
/ bring above par. ana some of tn
! stocks have actually scored some goo
gains.
The closing bid and asked prices ar
a fair criterion of the local market a
the close OF the week.