Evening star., 1909-04-27
LOCAL FINANCIAL NEWS.

The thing that was uppermost in the
minds of most Of the brokers when they
came together for the daily meeting OF
the stock exchange today was to learn the
effect on gas stock of the action of the
directors of the Washington Gas Company
In announcing yesterday an extra divi-
dend of 81 per share and q 10 per cent
reduction in the rate for gas to cOnsum-
erS
1t was recognized at the outset before
the stock was reached that the rate re-
ducton would probably forstalI any legis-
lation on that subject In the immediate
future, while as for the dividend. all
would depend upon whether it was all
that was to be done or whether 1t might
be regarded as merely an installment, to
be followed by other extra dividends.
The trading was begun with due caution.
The first offering was at "a with 12 bid.
The broker having the stock for sale re-
1.-The melon Another broker remarked
that the melon had been delayed some
what in transit and was therefore not in
as good condition as had been expected.
for the stock, and the only broker OFFER
ing 1t kept putting the figures down until
finally he had it for sale at 7213. Yes
terday the bid for the stock at the close
was 73A. with the asking price at 73s
The day was saved by the broker who
has been practically the only buyer of
the stock for some weeks past in coming
to the rescue and showing an interest in
the stock. In consequence the TN stock
was withdrawn, and the bid gradually
rose. Small lots were taken at 73 and "A.
and 100 shares were offered at "a and
72ls was bid for such a lot.
The bid rose to TN and twenty-five
shares were taken at II, then the bid was
shot of the trading, or rather its signifi-
canoe, left the stock, as far as the mar
ket quotations are concerned, about
where it was before the news was gen
orally known about the extra dividend.
The common and the preferred stocks
Of the Washington Railway Company
were rather conspicuous in the trading
especially the latter. The common stock
sold on slightly lower level than mas
been reached of late-namely AN and Al
while the preferred stock sold in broken
lots on a range Of from 9211s to 92Sl. One
5O-share lot went for g2A.
According to the current gossip on this
subject. it is said the much talked about
dividend on the common stock. which
was reported to be probable about this
time. or perhaps a little later on, is not
going to materialize just yet.
The policy OF using such money either
for betterments or adding 1t to the sur
stockholders at this time Is said to have
been decided upon, and on that account
1t is thought the recent advance in the
preferred stock may be explained. 1t Is
now said the preferred stock is going to
An option on .Lanston sold for IA and
the stock for 1917. while at the close the
bid advanced to the latter level and the
asking price rose to IA.
Messrs. B. Francis Saul and Benjamin
w. Guy, directors OF the Columbia Ma
tional Bank. have returned from q trip
that extended some distance west. Dur
ing their absence they inspected a num-
ber of banking houses in different cities
with the view of getting suggestions for
changes that are proposed to be made in
the interior of the Columbia Bank build
ing. in order that additional room needed
may be secured.
Appleton s. Clark. architect. accompa-
MED the bank officials. and will make
sketches, so that the entire matter may
be submitted to the board of directors.