The Washington herald., 1909-07-14
LOCAL FINANCIAL GOSSIP


Washington Gas, which has been the
leader OF the local stock market for many
weeks sold yesterday about 90 shares at
IN 70 rs. Two things in connection
with the security were noticeable. One
was thar the buying broker did not seem
quite so anxious 20 take over the stock
at further advancing figures as formerly,
and the other. that the shares FOR sale
seem TO have become limited
The inference 10 be drawn from these
apparent elements OF the situation Is that
the price Of gas FOR the present has
reached the top. and that the amount
OF the stock that can be purchased at the
figures that have prevailed has been
gathered IN.
On the present movement in Gas the
exchange record shows sales Of 500
shares. The bulk of It has been taken
by Thomas L Hume. and has been pur-
chased for the account Of Hutton & Co,
OF New York, whom he represents.
A great many rumors have been IN cir
cuIation recently as 10 the probable dis
position OF the stock which has been
bought so assiduOusly for two months.
is the ultimate buyer, is fatty contra
dicted by his representatives. in this city
men who ought 70 be IN q position to
know the facts.
Another rumor is that strong New York
parties are the purchasers Of the stock,
with the hope of ultimate control Of the
company On the suppositiOn that some
deal Of this kind Is in the wind Il Is
argued that the stock is a good invest
ment at any price that has been paid FOR
il so far. Moreover. il Is true that the
shares purchased on the present move
ment have been taken over. paid for, and
have disappeared from the market. Il is
understood that they have not been used
IN Washington a. the basis Of loans with
the banks.
Another theory, which has about IL
some indications Of the truth. is that
some local capitalists are the ultimate
purchasers OF the stock. and that they
are acquiring IL with a view 70 assum-
ing an influential place later on in the
affairs of the company. II Is assumed
that the local capitalists, whoever they
may be, are operating through the New
York house with the express purpose Of
covering their tracks. as they are not
ready or willing 20 show their hand with
reference 10 their purchases Of the stock.
Some well Informed men in local hnan-
ciaI affairs go so far as 20 say these
local men have an ambition 10 get con-
troll OF the company, much as local capi-
talists have Of the Washington Railway
and Electric Company, with the avowed
purpose or using il as a means for the
Investment Of local capital In a local
htae fr,aar bln
a good dividend payer, and has a fair
prospect OF remaining so for years 70
come under what those who hold 10 this
theory call proper management
Il is impossible 10 run down 20 a
verify any Of these stories. They are the
rumors that have been going around
financial circles for the past few days,
and all Of them are set forth by persons
with great positiveness Of their truth.
The facts are that about GOO shares
OF the stock have been picked up IN The
local market and gathered into some
body's keeping. These shares have been
bought AL the way from IS to III. and
while the movement has been IN progress
the buyers have not haggled about the
price more than 70 buy as low as good
brokerage would allow.
Trading on the local exchange yester-
day had for it's principal feature the
purchase Of public utility bonds. OF which
all offered al current figures were taken.
with bids for more at the same rates.
other than the bond sales and the taking
over OF a few shares Of Washington Rail
way and Electric preferred not much
was doing.
Crane. Paris & Co. have issued an In
teresting statement Of the securities
listed on the Washington Stock Exchange
grouped under various heads. The bonds
are named. with interest rate. the data re-
garding issue and time OF maturity, the
BID and asked prices on July s. and the
investment return. Emerson Steam Pump
and Washington. Alexandria and Mount
Vernon Railway IS. according 10 this
showing are the best investments at the
present moment
Miscellaneous stocks occupy a group by
themselves. with the par value OF the
shares, the dividend rate. the bid and
asked prices, book value. and investment
Mergenthaler. Bell Telephone. and Wash
ington Market are the best dividend pay
ing stocks, according 10 this showing
80
with par value dividend rate. bid and
asked prices, book vaalue. and investment
return. The list is Of special interest,
compared with the miscellaneOus stocks,
with reference 10 their earning power at
the prices al which they are held.
The list IS one OF the most interesting
and valuable stock and bond compilations
made In Washington in recent years
At the annual meeting Of the stockhold-
ers Of the National Union Insurance
Company Of Washington, d. c., held al
the Office Of the company, the following
board Of directors was chosen: Charles B.
Bailey. Thomas Bradley, Floyd Z. Davis
John JOY Edison, jr.; Albert F. Fox, W T.
Galliher. George ". Linkins. John 3.
Larner, Owen McCabe, Charles Mades,
Henry Orth. B. F. Saul. George Spransy,
n. L SansbUrg. and Gen James H. Wat
mough. The board organized with the
selection Of the following officers: Presi-
dent. Albert F. Fox; vice president Henry
Orth: secretary, Philip F. Larner. and as
sistant SECRETARY, William H. Somer-