The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1909-07-25

Weeks Dealings Aggregate
Thousands of Shares.
Prices Higher.

| The local market for securities during
( the week has been unusually active and
/ strong The broker who is the chief
/ buyer Of Washington Gas and the one
/ who has been accommodating Railway
| common for many months seemed to be
/ running a neck and neck race to see
1 who should take over the greatest num-
| Der Of shares. The record shows that
| the gas buyer captured $3.50 and the
| buyer of Railway common 1852 shares.
Naturally the activity Of the co1nmon
/ stock affected the preferred railway
stock TO some extent and SIS shares
! changed hands during the week With
! this great activity in fractions and gas
/ a good volume Of business, at least
/ equal 10 the average week, was done In
/ other lines of trading. Bonds have been
| bought freely whenever they could be
| had, considerable activity was manifest
| in the type shares. and last Tuesday
| eveTybOd~ was surprised with the sale
| Of a 1000 share lot Of Greene-Cananes
| stock to a single buyer
Price Swings Upward.
| With the activity # Railway ooprooo
| came corresponding upward swing in
/ the price. It sold last Monday at a
| and on Wednesday sale of two shares
| was made at 48. Far the greater part
| Of the shares sold passed around Al To
/ 471s. II might be said in view OF the
record that the top price was 475b, as
with the exception Of the two-share
! sale noted deals were not made above
/ that figure in more than one or two in
| stances, The preferred stock sold on a
| rising scale from 921z to 93h.
No explanation is given for the acttv-
| ity in Railway common by the persons
chiefly interested in buying fl. The
company is thought to be doing we'll
and increasing its earnings 1t is Duf-
ting money into betterments and in
creasing the efficiency of the service,
ana LhlS naturally results in betfer
revenues from month to month II fs
frequently said that the company is
! earning enough TO warrant a small divi
uehd on the common stock and some
say II VIII be declared al the end Of tEie
calendar year, but this is perhans doubt-
Iul, taking into account the sums tba
! company is spending I'm betterments 1f
the system and the fixed charges of the
ifoiulHg ana subsidiary companies
Lines CapabIy Managed.
This much can be said that the prom
erty is improving I'm value under the
management Of local financiers and
the money paid TO the company bv the
pubic no longer goes out OF the CITY
TO the pockets Of outside holders. II
Is BENG spent to pay the fixed charges
ana the betterments Of the lines. which
IN time must bring the dividend perLod
1 even 70 the common stock which as
yet; has paid no dividends.
me movement in the Traction shares
mas Deeh duplicated in Washington Gas
LAST Monday was rather q dull dav I'm
Gas. Something like 800 shares we're
/ SOLD from l6 down to 75K But on Tues-
Jay me price bobbed up from rs to TIA
on safes or LII shares. The following
DAY the price went to 70 from vbicb
point II mas gradually receded on randi
~ diminishing sales
Various Theories Advanced.
The only answer to Inquiries about
who may be accommodating Gas stock
vOuchsafed by the buying broker Is
that in his opinion Gas is worth much
more than has been paid for # in the
market, and that on the strength OF
this opinion certain clients of his are
buying the stock as an investment. This
being the answer it must be accepted
Yet Gas hUctuates considerably during
periods of say two months duration.
For the past two years il has had peri-
then quite rapidly lapsing back TO about
$50 share. At each boom il goes a lit
/ tie higher, and each time probably the
recession is not quite so low so that
the general trend is slowly upward In
the meantime thousands of shares of
the stock are being bought in and
locked up.
Various theories have been advanced.
One is that the stock is being purchased
by New York parties purely on its mer-
1t IS being distributed among several
/ holders. But the last publication OF the
names Of the stockholders at the be-
ginning Of the present year did not show
a very large increase Of outside hold
ers. Another theory is that local fnan-
cial interests are accommodating the
stock for some purpose which is kept
secret.
Hint At Change of Control.
Some hint at change Of control of the
company and various suggestions are
offered to account for the activity in the
stock and the assumed distribution Of
the shares in new hands, but the best
inquiry fails to disclose Just what is
going on, though some of the theories
advanced may be near the truth.
The position Of the local market is
distinctly sound and active Prices Of
all securities are at the top notch, and
gradually going higher The activity
Of the market is in marked contrast
with the operations upon the exchanges
of other cities. Fully One-half OF fbe
members Of the exchange are on their
summer vacations, but those upop the
ground are doing business every dav
and a good deal Of IT,
Bond buying and purchases Of such
stocks as AierEenthaler and the bank
shares, which may be designated as in
vestinent buying, has been in LARGE
volume for the midsummer period, show
ing plenty of money for invest nent and
an eagerness to put it into the hest OF
the local securities.