Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-11-17
LOCAL FINANCIAL NEWS.

The market today was active in spots
and these spots were chiefly gas stock
and Bank of Washington stock. In the
case OF the latter quite a block-that IS
for that security-was for sale. 1t was
not brought out exactly how much the
broker had to dispose Of but he sold
some sixty shares on a range of from
30515 to 1861. At the close 39o was
bid and 400 was asked.
There was nothing unusual about the
figures paid for this stock. but IT Is not a
common experience to have any trans
actions in it at all. and of course much
to be offered for sale. However. the
market had evidently notice of what was
coming and the stock was taken readily
and at current rates
The other active security in the trad
ing was gas stock. One result was that
the stock sold nearly two points higher
than the closing bid of yesterday. The
range was $751; to 671s. The same buyers
prominent yesterday in the trading were
the principal purchasers today.
1t was apparent that the supply even
at the advanced figure was not equal to
the demand and that 1t would have been
necessary to enlarge the range of the
prices if it had been desired to buy any
more. -s--..
1t Is not clearly understood among mar
ket observers exactly why this stock
should have a sudden appreciation in
value, but one explanation which is cur
rent is that the expectation is enter
tanned of an opinion favorable to the
Consolidated Gas Company of New York
in the case now awaiting decision in
the Supreme Court of the United States.
The case has been argued before that
tribunal and a decision is expected IN
the near future. AS stated, it is be-
lieved by some that the action Of the
court will uphold the contention Of the
company. both as to the powers of the
local authorities to reduce the price of
gas and also as to what might be re-
garded as the most important OF all the
Issues involved. namely, the right of the
company to include the value of the fran
chise In determining the amount of the
capitalization. '.s-,
ticulars this decision will have an i'm
portant bearing on the questions involved
in the suit now pending before the same
court in which the Washington Gas Com
pany Is one of the parties. At any rate.
the movement which has been going on
in the stock In the local market for the
past few days is believed by some to be
in anticipation Of the influence upon the
value of the stock of such a judicial de-
ciSion.
An advance was made in the bid for the
stocks of the American Security and
Trust Company. of the Washington Loan
and Trust Company and the National
Savings and Trust Company without
bringing about sale in any case.
Minority stockholders in the Greene Con-
solidated Copper Company who did not
exchange their stock for that of the
Greene Cananea Copper Company have
through counsel requested information
from the Greene Consolidated Company as
to the price paid for the Cananea Central
Company's property and who bought it..
from whom and when and the figure at
which II was turned over to the Greene
Cananea Copper Company. Information is
also wanted as to the ore conditions in the
Greene Consolidateds mine and the COM
pany's policy as to the disposition of its
IS per cent of the stock of the Sierra
Madre Land and Lumber Company, an
other Greene concern.