Evening star., 1909-01-26
LOCAL FINANCIAL NEWS,

The stock of the Washington Railway
and Electric Company was extremely
scarce at today's meeting Of the Stock
Exchange. The bid for the common rose
to A. three-quarters Of a point higher
than the bid at the close of the call
yesterday and fully that much better than
any recent figure that has been named
in connection with this security.
The experience with the preferred stock
OF the company was precisely the same.
as the bid went to 81 without special
result. although there were a couple Of
sales recorded at 81 and s7h. The bidder
expressed his willingness to take large
blocks but there appeared to be no dis
position to sell, and the rising market
did not have the usual effect Of bringing
out stock
At the close the bid for the common
stock was 41%. and the asking price 42.
while for the preferred 81 WAS blu and SIN
was asked. In the case Of the bonds Of
the company the situation was reversed
as there were large offerings, but at a
figure that was somewhat in advance of
current levels. The asking price was ssh
for large lots, and one bond was to be
had at an eighth of a point less. The
Dest bid for single bond was SSk.
which Is an advance Of quarter Of a
point over the figures of yesterday. The
latter was also bid for a block of SIS. 800.
The bid for Capital Traction stock also
stlHened fully three-quarters of q point.
SO that at the close 1321a was bid instead
of 131x. as was the case yesterday. No
133.
The break of some seven points in the
market price of Consolidated Gas stock
~ hn NHwu, C>.H~ IL, 49, M
occurrence of some moment at that CEN
ter and 1t was supposed 1t would have
some influence upon the market here for
the stock of the local company. Such
an idea was not based, of course, upon
any other relation between the two con-
Germs than that they are both engaged
In the same line of business. and also
because the recent decision of the United
States Supreme Court in the case Of the
New York company was construed as
anect1ng general questions that relate to
all corporations of that sort.
However. nothing of the sort happened.
The Washington Gas stock was neglected.
and In rather perfunctory fashion the
that the bid of today. 69A. was an eighth
Of point less than the bid Of yesterday.
while the asking price was 7Oh instead of
70h.
{. General surprise was felt at the con-
stock. 1t has been on the upward grade
for some time past, but yesterday and
today 1t began to slide back and today
the best bid for the stock was 10O1x and
the asking price was 1O0h. Before the
actual condition was known q bid based
upon the figures of yesterday was made
and ten shares were sold at 1O1. The
bid yesterday was 102 and tho asking
price was 104
In recent days the stock has sold a.
high as 103, and as the dividend Is 6 per
cent year upon the par value Of 100, 1t
was supposed the new levels were more
or less permanent.
drop In the stock also occurred today
in the Philadelphia market. where it fell
to 1Ook. 1t is supposed this movement is
due to the Issue of stock by the COM
pany In connection with acquiring the
New Jersey company. but it 10 said here
by those who are supposed to be posted
in the affairs OF the company that the
continuance Of the payment Of the divi-
dend is not questioned.
The seat on the exchange held by
Thomas r. Jones. who recently resigned
as president Of the National Savings and
Trust Company and who intends to re-
tire from active business. has been pur-
chased by John F. Wilkins, whose broth
er. Robert, Is q member Of the exchange
The price said to have been agreed upon
is $5.375. which Is only slightly less than
was paid at auction for the seat that was
sold a few days ago.