Evening star. [volume] (Washington, D.C.) 1854-1972, 1909-12-31
LOCAL FINANCIAL NEWS.

All interest was centered today at the
meeting OF the Stock Exchange in gas
stock. Since the close of the board yes
terday there had been a good deal of
inquiry for the stock and it was cur
rently reported on the street this morn
ing that as high as IS and 20 had been
bid for blocks of the stock, and that
some stock had changed hands at these
figures.
The brokers who were making these
to be executing orders received from
New York, but exactly why the stock
was wanted at those prices and where
the orders came from was not revealed.
An inquiry was received this morning
by the Washington correspondent of a
prominent New York financial journal
as to whether it was true as reported
that the Washington Gas Light Com
pany Intended to cut a melon Monday
next
lie was not able to make very definite
reply, much to the regret of a number OF
people in this city, who would like in
formation on this very subject. In fact,
there is no information to be had as to
the causes of the advance in the gas
stock, which has been going on for some
weeks.
With all this gossip. floating around
about the better figure for gas, expecta-
ton was raised on tiptoe when the hour
came for the meeting OF the Stock EX-
change. About the only explanation given
at this time for the appreciation in the
market value of the stock was the eXpec-
tatlon that some move was cOntemp. ated
by which at last the company would be
able to capitalize the money spent In i'm
provements in the plant during a series
OF years past. or, in other words, to in
crease the capital stock.
WI en- the RusSlyn Electric and Gas
Company. chartered in Virginia, recently
began the foundations of a gas plant on
the south side of the .Aqueduct bridge
it was commonly said that it was through
the device of a holding company that the
plans would be carried out, and that it
was designed to make the Virginia cor
poration the medium. AS the United
Gas and Improvement Company of Phil
adelphia. the most powerful gas concern
in the country. was announced as the
house at Rosslyn, it was rumored that it
would also be concerned in the re-
financing of the Washington company
This in brief is what was talked about
in the street today, and when gas stock
was reached in the call at the meeting of
the exchange there was no surprise
when the first offering of twenty-five
shares at IS was promptly taken, al
though that figure was a point and a
half higher then the best price thus far
recorded for the stock.
AT this point the trading began to be
more animated than has been usual on
the exchange for some time, and at one
period there was such keen competition
among several brokers to get the stock
offered that a halt was called in order
to straighten out a tangle.
After the first sale at IS the next Of
fering was at 20, and then IS was bid for
twenty-five or one hundred shares. FL
nally an offering at 7SS. produced a sale,
and there were then several sales at that
level and also at 7S1:. A lot of one hum
dred shares sold for 1855 After call a
fifty-share lot and two twenty-five-share
lots were taken at 70. which represented
the highest selling point of the day. At
the close of the call tho bid for the stock
was IS and the asking price 1871. while
yesterday the figures were 761s bid and
767s asked.
1t was apparent from the trading to-
day that the market was broader than
On any previous occasion during the re-
cent movement in this stock. as there
were two and three buyers instead Of one.
The selling was not as general. The to-
tai sales for the day reached $50 shares.
Lanston also sold at higher level than
usual and continued the upward course
which was noted yesterday. Today the
sales were at 1914. and at the close the
bid remained at that level, while the ask
ing price was an eighth Of point in ad-
vance.