Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-04-26
HEARDON'CI1ANGE

Naturally, there Is much interest mani
tested by the public in the present move
ment in the traction stocks in the local
stock exchange. The circle of the interest
ed ones. while not entitled to such q COM
prehensive title as that OF the public. still
is a pretty large one and comprises. 1t Is
believed. a large proportion OF those VINO
usually form what is known as that eie-
ment In the local market.
The fifteen millions Of common ana
preferred stock of the Washington Rail-
way and Electric Company Is 30 generaaiy
ton amply demonstrated, the control OF
the company Is owned in this city be-
yond q question OF doubt. Thls 1acI OF
local ownership Of SO large an issue OF
securities together with a similar state OF
affairs relative to the twelve millions Of
capital stock Of the other traction sys-
tenn makes 1t quite clear that there would
be a good deal of interest manifested
here in anything affecting these securi-
ties.
The main fact in this connection and
especially those of the Washington Rail
way Company is the steady advance IN
price going on for a couple OF months
past. On the first Of February the DID
and for the common stock, 23h, while
the prices Of the past week have pro-
vided q market for the preferred at 50
and the common at 81.
The advance in the case of tho Capital
Traction stock has not been as marked
as with the other traction stocks, but 1t
is expected that too will also begin to re-
gain the place which 1t had before the late
financial panic when 146 was reached.
AS stated, there is much inquiry not only
from the owners of these stocks, but from
the general public as to the causes OF
this advance In prices. As Is common In
such matters, no positive answer Is forth
coming. It might. perhaps. be assumed
that at least some portion Of the growing
market strength Of these securities Is
due to the fact that business generally
is recovering from the low level of the
late panic.
liquidation during the market stringency.
stock has shifted from weak hands into
strong hands. In view of the case. there
is comparatively no stock hanging over
the market and as most OF 1t was bought
at higher levels: 1t 70 inferred 60. small M al
have been current. The records OF the
market show this. for, during the rise OF
from ten to fourteen points, comparatively
littlestock has come out.
The only other security on the list that
has taken a part in the active trading Is
the stock of the gas company. Unlike
some of the entries on the more active
list, this security IL now passing through
late panic. The first occurred over
month ago. when prices ranged in the
neighborhood of 20. Then came decline
and now another movement has set In
which has brought the figures up from
the vicinity of 60 to IS. While there is
agitation on the reduction in the price
Of gas stocks in Congress. Just as there
are matters affecting the railroads pend
ing before that body. still the course OF
the market seems to indicate that moth
ing will be done at this session.
The cause of the rise in gas stock. of
course, is not known and that is the
usual thing said at such times in regard
to this stock. If there Is anything in
the minds OF the officers of the COM
pany that is to be done in the near fu-
ture for the benefit >of stockholders. which
i'm a vague sort of a way is the ordinary
foundation for q movement in this stock.
the details Of II are not known.
1t is hoped the business in the stock
market will broaden out In its scope; at
least that is the hope of the brokers and
others interested In this line of activity.
During the revival 50 to speak. In prog