Evening star., 1909-05-08
LOCAL FINANCIAL NEWS.

was offered for sale today at 3d. and II
was taken by one of the brokers. who al
once made the bid on that level.
The stock was offered half a point in
advance. but the bid did not rise above
69ts. SO that there was no further trad
ing. The interest in what was done was
very limited-in fact. confined to two
brokers. one of whom bid for the stock
after buying one lot. and the other who
offered it. Outside OF the two, there did
not seem to be any stock for sale. or, in
fact. any one who wanted to buy 1t.
Still. the figures showed quite marked
change from those of yesterday. when
the stock sold on range Of from 6sh
to 6Sh, and at the close. 87ss was bid
and IS was asked. Today the closing
figures were sos bid and 691z asked.
made at the recent meeting of the stock
holders of the Lanston Company are ap-
pearing in typewriter form among the
brokers According to this report the net
profits of the company during the past
year reached 500, ,e63. and 1t is stated
only $11,s35, the net profits increased
Sol. 400 as compared with the figures for
the last year.
considering the panic year." adds the
should be quite satisfactory During the
past year, it Is reported loan OF $22JO.O .OO
secured on the factory building was paid
off.
During the call some of the stock was
traded In at 13A and 13S. and sales
were made after call at the latter figure.
The bid at the close was 13s. and the
asking price IA.
The list of securities of the local fire
Insurance companies was lesSened today
by striking off the name of the Metro
polItan Insurance Company. This was
done on the statement by one of the
members that the company had been
liquidated. or, rather. the process Of
liquidation, which has been going on for
some time, had been completed.
In answer to question he said that
the stockholders received 1924 per share
I'm the distribution Of the assets of the
company. The par value of the stock
was $50.
A bid of 11ss was made after the call
for 500 shares of Greene Cananea, but
without result. During the call the
115s. The bid at the close was 11l2 and
the asking price 11A. The better figures
for this stock of late days are attributed
to revival Of the demand for copper,
accompanied by better prices. and also
an increased production on the part OF
the company.
Now that the people served with gas
by the Washington Gas Light Company
are going to pay after July 1 10 cents
less than the present rate the consumers
of the Georgetown company are begin
ming to ask If the patrons OF the company
living on the east side OF Rock creek get
their gas for 30 cents why can't those
who live on the west side be served at
the same rate.
For a long time Georgetown gas con-
sumers paid 25 cents more than con-
sumers i'll Washington. But about three
years ago the company took off 2o cents
a thousand voluntarily. Inose who look
at this matter from the point of view Of
the company think that the people OF
Georgetown ought to be satisfied with the
treatment they have already received, re-
lying on the knowledge that the company
wants to furnish gas as cheaply as pos
sibe not merely from philanthropic rea-
sons. but because 1t serves to increase
the volume of business. For both reasons
1t Is argued that the Georgetown COM
pany will in the future give such rates
as the business will justify.
Reference also may be made to the
usual reason given for the difference in
the cost based on differences. in the cost
OF the service and In the manufacture of
the product as well as difference in the
is a largen customer than Georgetown
and there 10 more Improbable territory
on the Georgetown side Of the creek than
on the Washington side.
1t Is stated by those familiar with the
policy Of the company that II an organic
union of the two companies could be
made, with the resulting reduction In the
cost OF the manufacture and distribution
of gas, then 1t would be possible to have
uniform rate for both places. 1t Is
stated that this was proposed in the plan
placed before the last Congress to COM
hine the two companies. But whether
Congress grants to the company this
right or not, 1t Is said on good authority
that as soon as the situation can be thor
oughly studied II Is likely the company,
on its own volition, will make the George
town rate uniform with that of the new
Washington rate.
A more recent case Of discrimination
was to be found in Chevy Chase, where
the charge for gas was $1.25 1t was
claimed that this rate was agreed upon on
condition the mains Of the company be
extended that far. However that may be,
the service was provided, but was not
used. and the company found the return
on the cost of the service inadequate.
So there has been a reduction in the gas
rate In the Chevy Chase region to 81.