Evening star., 1909-02-17
LOCAL FINANCIAL NEWS.

Gas stock and Mergenthaler shared the
attention of the meeting today Of the
Stock Exchange. The reasons for it in
each case were entirely opposite. Gas
stock sold down to ~, while Mergenthaler
sold up to go. In the one case there was
loss Of over two points. as compared
with the last selling price, and nearly two
points less than the bid at the close Of
yesterdays trading.
The jump made by Mergenthaler was
six points Yesterday the stock sold for
214-the best price paid to that time In
the recent movement-while today go was
paid
The bid for gas stock started today at
a lower level than the closing figure or
yesterday, and sales were made at that
level, starting with five shares at 'S1a
and going down to II. the last sale. AL
together eighty shares were traded In
on that range, and 1t Was evident that
the sellers would have been more In ev1-
dence if 1T had not been for the rapid
retreat Of the buyer.
The progress in the direction of lower
levels went at faster rate than was
pleasing to those who had the stock. and
were apparently anxious to take adVan-
tage OF the current figures. 1t is not
known. of course, why there should be
desire to sell today what has been the
eager desire to acquire But 1t is sup
posed 1T has something to do with the
alleged cause of the upward movement.
which was generally understood to be
the expectation that legislation was to
be had allowing an increase in the CAPT
tai stock of the company. Now 1t is
thought that owing to the near approach
of the close Of the present Congress such
a prospect is growing dim. Hence. cur
rent prices are looked upon as too high
At the close the bid was 761a and the
asking price Il1a
Only twenty-one shares of Mergenthaler
were sold, and OF this amount twenty
shares in two ten-share lots went for 10
At the close the bid was 219 and the ask
ing price was 200. Much higher prices are
predicted for this stock. for 1T Is claimed
that the recent acquisition by the COM
pany of the English business will have
the effect Of insuring the continuance OF
the payment not only of the current divi-
dends but will enable the gross division
of profits with the stockholders to be 20
per cent a year instead of Is per cent.
The railway securities were not neglect
ed. There was a strong dmand for the
Washington railway bonds. and after the
few that were for sale at SS is had been
taken the further sales were at 1874, and
that was bid for $4,000. or any part.
All the common stock that was for
SAFE OF f0 ana less was taken, ana Two
fifty-share lots at 43. which is the best
price paid in recent months for this
stock. Only seventy shares were to be
had below that level, and 43 was bid for
quotation lots or larger blocks.
The preferred stock also reached an ad-
vanced point. as fifty shares sold for 9O7s
and two small lots for 81. The bid at
the close was 907s and the asking price 81
A block Of nearly 200 shares Of Capital
Traction stock was disposed of, and
mostly through one broker. The entire
offering was taken and the price was
broken only half of point, the range Of
the selling being from 135 to 13412. At
the close the bid was on the latter level
and the asking price an eighth of point
higher.