Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-07-16
LOCAL FINANCIAL NEWS.

Thirteen shares of the stock of the
Georgetown Gas Company were offered
for sale today at the meeting of the stock
exchange, but there was no bid for them.
and the same was the case with quota
ton lot Of twenty-five shares, but in the
latter instance there was no offering.
The broker having this odd lot for sale
did not offer It at any figure, and as there
was no bid for 1t nothing was done. The
rights that have been assigned pro rata
to the stockholders Of the company to
subscribe to the recently authorized issue
Of $50. 900 In 5 per cent certificates OF in
debtedness do not seem to be In demand
although some are for sale, and one sale
is reported at 105.
According to the form used by the COM
pany in notifying the stockholders Of
their pro rata rights to the certificate
only s225 GOO Of the authorized issue has
been assigned, and no statement is made
as to what IL the object in reserving the
issue Of the balance, amounting to
$4,000
The certificates are to run for ten years.
but the holders are entitled within five
years to exchange them for the stock of
the company at par. providing, of course,
the right of the company to issue stock is
decided through the case now pending in
the Supreme Court Of the United States.
This Is the entire bonded indebtedness
Of the company and 1t is thought that as
good, but thus far there seems to have
been very little interest taken in 1t as far
as the trading on. the local stock ex-
change indicates. \ sale was made today
of some Of the per cent bonds OF the
Washington Gas Company at 96ss and
also small lot of the per cent Ger.
tifcates Of the same company at 1O5.
At the close the bid for the latter was
1C45t, while yesterday the bid was 1O4.
No change was made in the figures for the
bonds as compared with the record Of
yesterday.
Washington Railway Conlpany's 4 per
cent bonds at SO4s and the preferred stock
Of the same company in broken lots at
791s and 1914 made up the most OF the
balance Of the transactions of the day.
At the close the bid for the stock was
1871 and the asking price point In ad-
vance. Yesterday at the close the bid
for this stock was q. while the asking
price was TO- but after call considerable
buying was done at higher figures.
At regular meeting held yesterday OF
the board of directors of the Dime Savings
Bank Mr.. Samuel Hart was elected d.
rector.
According to opinion in we'll informed
circles 1t seems probable there will be an
advance made by the railroads of the
country In freight rates, beginning in
some cases the LIST Of the month. A de-
crease in earnings is assigned as the rea-
son.. and it Is claimed that the only alter
native Is u reduction in wages.
It Is anticipated that the latter would
result in strikes and in a disturbance in
current business conditions. Owing to the
widespread influence of any increase In
shipping costs upon practically every de-
partment of business 1t Is impossible for
the most experienced to foresee what the
actual effect will be. 1t is Of course, rec
ognized that an increase In rates may
earnings. 1t Is apparent that such adding
to the rates Will be an experiment of
more or less doubtful issue, and the con-
tinuance of such a policy will naturally
depend upon whether or not in reality 1t
serves to increase the revenues OF the
roads.