Evening star. [volume] (Washington, D.C.) 1854-1972, 1909-01-30
LOCAL FINANCIAL NEWS.


I One broker wanted five hundred shares
of common stock and bid 42h. He was
supplied. This buying. however. did not
exhaust the supply at that figure.
The stock was still to be had at the
close. The bid price was then AZ. Yester-
day at the close the bid was 42A and the
asking price 49,
An unusual number of orders for small
lots OF the preferred stock were filled.
and 50 was the uniform price. couple
AT the close the asking price was 50 and
the bid an eighth of point less.
Odd lots of Capital Traction stocks
sold at 1873, while for a quotation lot of
twenty shares 1874 was bid and 1873 was
asked. The bidding today shows an ad
vance over the figures Of yesterday, but
the asking price remained unchanged.
The total result as to the traction Sc
curities, the most active stocks on the
list at today's trading, shows a slight
falling off from the prices Of the day be-
fore. No doubt this may be attributed
to the influence of the course of prices
on the general market. where 1t seems
that, for the present at least, the bull
movement has been checked.
to list on the exchange the consolidated
mortgage bonds OF the Potomac Electric
Light Company, generally known as sec
onds.'' The total authorized issue Of
these bonds is 100000. of which a por..
ton are reserved for the retirement OF
the first issue, leaving $3,65O,00O avail
able, of which $3,421 900 have been issued.
Three bonds of the first issue were sold
at today's meeting, and 1854 was paid
for them. The bid was then 108.
A company with a large capital is being
formed which is primarily to do the
freight business between this city and
points on the river distance of some
l., II xhA
which is to take over the Randall proper
ties, now in the hands of receiver, will
carry on the summer resort business OF
Colonial Beach, and also the amusement
resort business Of River View.
There are to be three companies, In fact
one for the freight business and operat-
ing a line of steamers between this city
and points on the river, together with
subsidiary lines entering the coves and
the tributaries of the river and collecting
the freight at one central point. where 1t
can be shipped to this city.
Colonial Beach will be run by another
company. and River View by third. The
combined interests will be large, and the
fleet of vessels will be the most consid-
cradle under one control in this vicinity.
1t is supposed the combined capital will
be over $1,OO0,OO0.
Senator Elkins, Mr. Lynn, Mr.. Living
ston and others of this city are under
stood to be promoting this enterprise.
It, has probably been taken for granted
that the street railway business OF the city
and the District will continue to be done
by the two traction systems now in con-
troll Of property of that kind
The company that is operating the troll
ley line between this city and Annapolis
and Baltimore apparently does not hold to
that view. 1t has just asked Congress FOL
permission to extend its line into the Dis.
trict. At the present time the roadbed OF
the company stops at the District line be-
yond Benning. From that point its cars
run over the tracks Of the Washington
Railway and Electric Company to 10Th
and Fl streets northeast, where the pas
avenue line OF the same system and
brought to the center OF the city.
Congress is asked to give authority to
the company to build line from its pres
ent terminal at the District bounds to
New York avenue and 18th street north
west.
Charters just issued In the state of Vir-
ginia to the companies controlled by the
Frank J. Gould interests and owning the
water power at Fredericksburg, Va, and
operating an electric line from Richmond
to Ashland, distance CT seventeen miles,
are taken to mean that the ultimate eX-
tension of the line to this city forms a
this proves the case it will be the first
definite move that has been taken to
carry out the much-discussed scheme for
connecting this city, electrically, with the
country to the south in the direction of
Richmond.
The immediate approach in that direc-
ton to this city is now occupied by the
lines reaching to Mount Vernon on the
one side and Falls Church and Fairfax
Court House to the northwest. Both of
these properties are now under the same
control and are much stronger financially
than has been the case.
1t appears that either some understand
ing will be reached between the pro-
motors of the southern line and those who
now own the local properties or else an
entirely new line will be built through
the territory adjacent to this city.
Some arrangement of the first named
the proposed road between this city and
Gettysburg, which is planned to come
down through Frederick county and then
by crossing the river above the Great
Falls by means of bridge to make con-
nection with the Old Dominion line into
this city. 1t is planned to accomplish
this result by the union of capital OBJ
tanned in the Maryland and Pennsylvania
region through which the line passes and
of the interests owning the Old Dominion
road
This scheme is now being worked out.
1t is expected that during the coming
months something will be done toward
making a beginning in the building Of the
line.
The changes made In the personnel
Of some Of the banks and trust COM
panies of the city at the beginning of
the year were rather more numerous than
is usually the case. AS a rule the an
nual meetings of stockholders of these
institutions, which occur the second week
Of the year, are marked by nothing more
exciting than the issue of the annual
statement Of the condition of the busi-
ness.
1t is of course, gratifying in one sense
for q stakeholder to know that the sur
plus of the institution in which he is a
part owner Is increasing and that the
book value of the stock is more than 1t
was last year. Such sensations, how
ever, are not generally regarded as half
as pleasurabe as the announcement of
the increase in the annual distribution
of earnings among stockholders.
1t is all we'll to pile up the surplus. and
such an item in a bank statement is high
ly essential. But from the standpoint OF
| the stockholder who holds his stock for