Evening star., 1909-04-28
The World of Finance and Trade.
Washington; New York; London.
LOCAL FINANCIAL NEWS.

There was considerable gas stock for
sale at todays meeting Of the stock ex-
change. Altogether the record shows
total of some two hundred and twenty
five shares sold. The largest single lot
was one hundred shares, which sold for
72L. At one time at least two such
lots were offered at 73, and the best bid
at that time was 72R.
The twenty-five share lots sold on a
scale of from 72A to 72ss. Yesterday
there was only one twenty-five share lot
sold and 73 was obtained for that. The
closing figures yesterday were 73 bid and
73L asked. Today the closing figures
were 72A and 12ss.
The recession that may be noted by a
comparison of the figures for the two
days may be said to represent. In part
the attitude of some of the holders OF the
stock relative to the outlook for this Sc
curity in view of the announcement made
day before yesterday of the action OF the
directors of the company in declaring an
extra dividend of 81 per share.
1t may be added that the general ex-
pectation of the extent of this Distribution
was disappointed, as the common idea mas
been all along that whether the expected
dividend turned out to be q cash payment
or an issue of securities In some form
the net result to each share of stock
would be much greater than proved to oe
the case.
current figures for the stock as cheap IS
that the extra dividend to be paid In July
on the stock represents only the portion
Of the distribution of the surplus OF the
company for the year 1909. and that be-
fore the end OF the next year some con-
clusion will be reached with Congress
over the vexed question of an additional
issue of securities. and that. of course.
any such issue will be to the advantage
of the stockholders.
t. to- f,,r%h Mt Ot1t fhnQA UYh0
entertain this view that the action OF the
directors in reducing the rate for gas to
consumers will have the practical result
of eliminating that phase of the gas con-
way to a consideration by Congress of the
need of some adjustment between the
value of the property of the company and
its capitalization.
The preferred stock of the Washington
Railway and Electric Company, which has
been advancing Of late, was not dealt In
today very largely. There was only one
quotation lot sold and that brought 3211a.
which is the high figure for the stock
since the recent movement in it. There
was no change made in the quotation.
AS has been Customary Of recent years,
the Secretary of the Treasury recently
distributed as deposits among the various
national banks Of the city the sum OF
three millions Of dollars. which repre-
sents generally the amount that will be
paid into the Treasury during the coming
month by the citizens Of the District on
account Of the annual real estate taxes.
In this way this large amount of money
will not be withdrawn from circulation, as
would be the case IL 1t remained in the
Treasury awaiting the slow process of
being paid out through the disbursements
on account Of the expenses of the local
government. Under this arrangement as
the money is needed 1t will be withdrawn
from the banks.
A. F. Fox, president Of the Columbia
National Bank, left the city this morning
for New York city. Tomorrow he ex-
poets to sail by the Deutschland for
Europe, where he will spend the next
three months
At a meeting Of the board Of directors
Of the bank yesterday Mr.. BENJAMIN +.
Guy was made an additional vice presi-