The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1908-08-09
LOCAL SECURITIES
At HIGHER PRICES
Last Week Marked by
Good Degree of
Activity.
RAILWAY COMMON
SCORES A RISE
Purposes of Washington Gas Com,
pany Subject of Comment
Among Brokers.

The washington stock market has
been characterized during the past week
by a good degree of activity, rising
prices. and a more hopeful feeling as
to the permanent value of the local list
ed securities.
Many Of the members of the Stock
Exchange are on summer vacation, and
the attendance day by day Is small
Some days hardly more than ten mem
bers attend the sessions. This fact
and the hot weather would ordinarily
initiate against any large amount OF
business. But during the past week
there has been excellent buying Of the
local bonds for investment purposes.
and large volume of trading in stocks
for the month OF August.
Railway Common Active.
This was partly due 10 activity in
the shares Of the Railway and Elec-
| trio Company. Lanston. and Washing
ton Gas. Early in the week the broker
who for a year or more has been the
/ chief buyer Of Railway, common, start
/ ed in 20 buy some of the stock, The
| official bio price was about $50 a share.
| In his efforts to dislodge the stock he
| bid the price up TO %. where he took IN
a few shares. That day there was no
more on tkS floor 10 sell, and though
! the price was bic higher no sales re-
I suited.
The following day the price was start
I ed at 80. bic 10 "a, and between that
| and IS some 1900 shares OF the stock
I were sold. One day since that a large
number Of shares were sold at prices
around p. In one week. therefore, this
! stock has been jigged up s. a share.
/ with about 1900 shares sold.
Meanwhile the preferred shares Of the
| same company have been selling around
| 81 and So, with a good volume OF trade
/ resulting. The bonds OF the company
are also being taken up when possible
| at good prices. Capital Traction bonds
/ and stock also have been freely traded
| in, the price OF bonds being put up 10
| il2h. and that OF the stock 10 fractions
above 126
Type Machine Shares Rise.
| The week has seen recorded large
/ transactions in Lauston and AIerEan-
/ thaler. More than 1000 shares If Lans-
/ ton have been sold between II and u
/ IN 1OO-share lots Merganthaler trans
| actions have been lighter in the numoer
! OF shares sold, but the price, following
/ the quotations in Boston. have been
/ z arked up about three points. In Wash
/ ir.gton there IS little OF the Mergentha-
/ Ter stock for sale as Il IS one Of the
/ investment stocks that is regularly
picked up in small lots. the purchasers
| holding it for the dividend returns
! As a consequence, it is seldom that
| ten-share lot can be had at one time,
/ especially as that number Of shares
! involves a transaction OF more than
! $1,000 During the week something like
] sixty shares have been placed on rec
| ord, and from day TO day the purchases
/ have been on a rising market.
Gas a Center Of Interest.
! Sales Of Washington Gas have not
! been large, but the demand for IT is
! growing. The air - thick with rumors
/ about the purposes OF the company, but
/ they are that indefinite sort that moth
/ ing tangible may be made out OF them.
/ II is probably true that the company
/ will issue more stock. If 1t is allowed 10
/ do SO by the District courts.
! IN the event the company loses out
/ on that tack. IL may issue more indebt-
/ edness certificates. as the Georgetown
| company has done. In either case the
! stockholders would expect to profit by
/ the transaction, and il is expected
| among the local brokers that Gas is
/ due for a rise some time this month OF
| next. II is even said that lines are
4 being laid for some such operation in
| Gas stock as took place a year ago.
/ when a coterie Of brokers accumulated
/ a large number of 81 ares which it is
/ commonly believed were sold to persons
| on the inside of the corporations board
/ Of directors. It Is now believed that
! similar effort will be made this year
/ 10 pick up the floating shares OF stock
/ on the outside prior to the time when
/ the melon shall be cut by the company
| for the benefit Of those who hold the
| stock.
Facts Kept a Secret.
While all this is not talked OF openly
and above board. the program can be
made out piecemeaf from persons IN
! usually we'll informed as to the opera
| tons Of the gas company, and it IS
probable that some such course as that
| indicated will be followed unless the
| company is headed or in its designs,
| as was the case about a year ago.
| when it encountered too great opposi-
ton in the shape OF public protest
| against using the public as q party
quiescent TO the enrichment OF the
| stockholders OF the company.
IN the main. the local stock situation
lis steady and strong, with the chances
greatly in the majority that nearly all
the local securities will advance to
higher ground within the next few
months. The railroad companies. cleo
| trio lighting companies. and other pub
lie utilities have never done so we'll as