The Washington herald., 1908-08-11
GAS STOCK STRONGER
RumOr that Outsiders Are
Again Seeking 1t.
PRICE ADVANCES TWO POINTS
story Current that the Washington
Plant VIII Be Swallowed by the
lists May Be Already in Control.
Explains Last Years Boom.

Control Of the Washington GasIight
Company is Pow held by persons in VIII
mington, Philadelphia. ana New York.
who are working in harmony. and who
viii assume control Of the c0mpanys af-
fairs at the next annual meeting Of the
stockholders. in February, ls1s. The per
sons holding THIS stock are believed 20 be
affiliated with the Consolidated Gas Com
pany, Of New York, and expect 10 make
the Washington plants an asset Of that
corporation"
This statement was made TO a Washing
/ ton Herald reporter last night BY two
men claiming % be vel informed with
reference TO the situation. both declaring
/ they know the statement 10 be true Il
was further declared that the interests
mentioned in the three cities hold sufficient
shares Of the stock 70 control the cleo
tion and make the local company a part
OF the larger corporation. already owning
and conducting The gas plants OF several
I large cities. East and West
Did Not Want Lawsuit
/ Il was stated last night that the rea-
son why the active control Of the com
pany was not taken over AZ the last cleo
-ti va A-- --Af-o - tl4Aaa-GE %
and the reason that the local company
had a fight on hand in the courts THAI
[ the officials Of the Consolidated Gas Com
pany expected the present Management
90 settle
The feature OF the trading yesterday on
the Washington Stock Exchange was th.-
sale OF - shares OF Washington Gas 10
one OF the brokers who aided in engI-
neerilg the boom in that stock about a
year ago. when It rose from about S. a
share 90 So a share
Gas stock has been qulescent for many
months. and only within the past Two
weeks has there been any activity IN g.
About two weeks ago brokers began on
( TIE exchange bidding FOR the stock IN srnaU
amounts during these two weeks the
bid price Of Gas has been carried I'd
from about 80 20 g. Yesterday bids for
the stock began at about s. and were
carried on raise Of 81 cents a share
untI 56lz was reached. when 20 shares
were sold. and a little later twenty-five
snares ar a price ore-eighth higher.
Got Control Last Year.
Last year. during the boom in gas.
something Ike 500 shares were bought
on the Washington stock Exchange. and
much more privately. which al the time
was said 20 have been purchased for par
ties In New York Later in the year il
was stated that the stock dealt in on the
Washington exchange was finally turned
over 10 persons within the CORPORATION
who were interested in acquiring Il. with
view 20 realizing upon the issue OF new
STOCK which vas C0Eteu plated last fall
That th5s stock was acquired by its pur-
chasers for holding purposes is nov ap-
parent. as not q share OF Z came back
upon the market after the price had
broke, and lt IS a weli-known fact that
the break ll gas was sudden affair that
seriously embarrassed several Of the bro
Sers who took part in buying options and
otherwise were long Of the stock when
the IaL in price arrived
Panic stopped Purchases.
It was stated last night that the sudden
quitting OF those who had been sending
orders 10 Washington 10 buy Gas was
due solely 20 the approach OF the panic.
and that now the same persons are again
n the market for Gas and hope 70 ac-
qulre what they can below a certain fr-
u7e- II IS said this explains the recent
activity IL Gas. as well as the boom Of
last year.
Other trading OF the Washington ex-
change yesterday was in fair volume and
az EgEer prices than have prevailed
Capital Traction sold at I25l1 Washing
ton Railway and Electric preferred al
80, and Capital Traction 8 Pc cent.
bonds at IlZ1z. Besides these. there were
fractional purchases OF several issues.
among them Lanston and United States
Trust FOrty-fve shares OF Trust stock
sold at prices ranging from 81 20 g
with a good volume Of the shares for sale
at prices higher than that