The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1909-08-04
LOCAL FINANCIAL GOSSIP.

The feature OF the trading on the Wash
ing Stock Exchange yesterday was Poto-
mac Electric Consolidation bonds. which
were taken over principally by a single
broker who is supposed TO represent one
Of the trust companies, $1,000 Of them at
| 103 SIS to 103 "a After call 5000 IN Wash
ington Railway fOurs were sold at IS l-2
and bidding was very active on call and
afterward for a small quantity OF Wash
ington Gas certificates.
Capital Traction stock was more Rc-
/ tive than has recently been the case.
Sixty shares were sold at l40 and better.
! Railway common was also active at AZ
and fractions below, selling go shares
down 10 &C 5-S The preferred stock sold
at SO. Bell Telephone sold at l24 and
/ fraction lower, and one share was bid in
at new high price OF rs.
Washington Gas was flrmer and IN bet
ter shape after the slump in the bid price
of the day before. On Monday the stock
was bid down to z. but all sales yes
terday were at "a
! A good deal OF speculation prevails
about the future Of gas stock, many be-
/ lieving that the strength OF yesterday
| Will be followed by further weakness,
and others being as strong IN the belief
that IL viii not only remain where II Is,
/ but 60 higher. The supporting broker
! yesterday was IN a confident mood, ard
took all the stock offered at "A. most Of
the offerings being at To-
Apropos Of the movement Of this stock
| II may be said that during the present
year, according to the record OF the stock
/ exchange, nearly 1900 shares OF Gas
/ have been sold. Some OF these shares
! represent repeated sales OF the same
stock but il may be fair 90 assume that
such sales might be within the limits
/ Of 5000 shares. on this basis about 5000
shares OF Gas have been acquired by
somebody since the first OF the year. II
would be interesting TO know what had
| become OF them.
! 1t is the general opinion that while
/ portion OF them have gone into the
/ banks as collateral for loans. a consider
/ able amount Of the stock has been &C
/ CURED by some unknown purchaser OF
! purchasers, and is being held by him or
\ them for some purpose not divulged, al
/ least, publicly. II is understood that
\ the books OF the company DO not show
l any large transfers OF stock 20 single
\ persons. ard the further one goes into
/ the riddle the less apparently, he learns
/ about Il. Nine or ten thousand shares
! are not very formidable segment OF the
/ capital stock. and IN case that persons
are seeking by acquisition OF the stock
( in this manner 70 gain control Of the
/ company. It is TO say the least. labori-
I ousiy slow process.
| The purchase OF the stock for invest
ment purposes would be moro applicable,
| but IN the opinion OF many the stock
/ is not sufficiently tempting in this regard
] 70 warrant a movement where a large
| part OF the shares have been purchased
above so a share, but taking the sup
/ porting broker at his word, the price
at 81 Is TO hold. and the stock may be
| expected 70 80 upward. This is based
upon his statement that he believes the
stock TO be intrinsically worth more than
IL is selling for at present, and that
( continued buying OF the shares as they
are offered on the exchange viii ulti-
mately bring the shares TO a higher
/ level