The Washington times., 1908-08-02
SHARES
HAVE ACTIVE WEEK
Buying of Washington Rail
way a Feature-Prices
Generally Strong,

The Washington stock market has /
been fairly active during the week. !
Stocks generally are stronger than a /
week ago, and new high levels for the
year have been posted for the common I
and preferred shares OF the Washing /
ton Railway and Electric company /
Friday the new per cent convertible /
certificates of indebtedness of the /
Georgetown Gaslight Company were
listed on the exchange.
The Washington market for securities 7
IS IN the position where a good deal OF
business crops out at certain levels. +
This was we'll illustrated last Tue sday. /.
For several days before the shares OF
the Washington Railway and Electric I
Company. especially the common stock. /.
had received some attention from the I
brokers around $50. To had been evident /
for some time that none Of the stock /
would be sold at that figure Last Mon
day the stock was bid up 20 81 with ,
an Insignificant sale on Tuesday the /
broker. who for more than year has
been the chief buyer Of this stock. start /
ed ia TO buy. Some of q was sold to 4
him above g. and as the price went up /
by eighths, large blocks were sold un-
til the price reached 30. where the last I
sale OF the day was recorded. During 4
the buying something like l.S00 shares /
changed hands.
Held by Buyers on Rise.
This Indicated that the holders Of the
stock had been hanging on for a price,
and the same thing is still true. Last
year when this stock had a boom nany1
mn HHaFaHH sim
rp 10 $50 Probably much OF II is still
held by the buyers Of that time. Now
If the price can be put above 85. say at
81 OF 40 II is probable that another
large block OF Il will be Embossed.
II may be said IN this connection that /
there is a good feeling rife as 10 the
prospects OF this company Washington 1
hnanciers. and that part OF the public 1
which pays some attention 10 local /
stocks thinks that the present manage /
ment Of the system viii bring Il out /
upon q stable financial basis. The earn /
ings of the system since the first OF the /
present year. when the property was /
taken up by Washington holders and /
passed 20 their control have increased /
IN a most satisfactory manner. Certal /
large economies have been introduced
and the lines today are earning larger /
revenues than ever before. 1t is even
limited that at the beginning of the /
next year small dividend VIII be de- /
clared on the common stock-a thing
which has not happened since the shares /
were issued.
With such facts before them local /
fHanciers are coming to believe in the +
future or the company. and many OF 4
them are arguing that now is the time /
10 get IN while the stock is low and (
can be bought cheaply. as compared !
with the period Of dividends which /
many think are surely coming
Loeb Still After Presidency
There IS also another view Of the sit
uatIon which has been suggested. It |
Is said I'm certain quarters that William /
Loeb. jr., has not given up the hope OF /
being president Of the company. Those 1
who have suggested this say that he viii 4
be looking for a good lob after March /
next. and that IL would please him and /
his friends OF whom he has many, 10
step into the presidency Of the Wash
ingt0n Railway and Electric Company.
This Is said to be the motive inspiring
recent acquisitions OF the stock.
The idea Is that he cannot become
president of the company without get
ting a much larger representation than
he now has I'm the stockholders meeting
OF tbs company. To this end. It is be-
lieved by some, that there will be a
quiet accumulation Of the stock in the
interest Of Mr.. Loeb and that IN the
next meeting Of the stockholders for
the election Of directors II win appear
that Mr.. Loeb IS near, II not actually,
in control Of the situation.
Some say that enough Of the COM
mon stock could be purchased below
$50. share and enough Of the pre-
ferred shares below s. to brinE this
about. Il cannot be said with certainty /
that This is the program marked out
by the broker who is the chief pur-
chaser Of the shares, but It Is one of the /
things frequently put forth when /
brokers get TO talking shop over the /
lunch table and in the private office.
Outside Of the shares of the Wash /
ington Railway and Electric Company /
the listed stocks and bonds are steady /
and firm. slowly climbing to higher /
levels. The Capital Traction securities, !
the gas shares, the banks and insur- /
ance securities are all firmly held n 4
strong hands and cannot be had except |
at advances from the usual bid price /
on the exchange. Washington stocks /
are on a high level. the companies they /
represent are doing we'll, and the pros /
perity which seems TO be slow in re- 4
turning tn some parts Of the country, /
has really never departed from the con- /
Germs having their headquarters at the /
Capital.
Z