The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1910-10-02
BUSINESS
IN LOCAL STOCKS
Bank Shares Attracting More
Attention-IntereSt Cen
tiers in Gas Meeting
By l. 4. FLEMING.

With six sessions Of the Stock Jsx-
change, a record Of 1,0G2 shares OF stock
and So 200 bonds traded in was made
Il was the best weeks business for
months, and the indications for 3 sleady
increase continue 10 multiply The mum
Der Of individual stocks in which there
were transactions was unusually large,
while the trade in Gas securities was
smaller than usual.
Interest naturally cente-s very large
" in the coming n Getting Of the share
holders of the Washington Gas Light
Company, scheduled for the 18th instant
Members Of the Stock Exchange be
Heve that there Is scarcely a question
but what the plans fOr the refundinS
Of the bonds. the retirement Of the Ger
tificates Of indebtedness and the adOp-
ton Of the resolution III regard to in
creased dividends, viii go through as
scheduled. The fact that the per cenS
bonds and the stock of the corporation
have not advanced In price as freely
as expected. has demonstrated, how
ever, that there is just possibility Of
failure A little speculation in the GER
tificates of Indebtedness has caused
some uneasiness.
II the certificates are TO be retired
they are worth par. If the holders are
20 have the right to subscribe for the
new . per cent bonds, they are I07 or
better, and If they are to remain out
standing they are worth 10 or better
There always has been more or less
uncertainty regarding street rUmors on
the affairs OF the Gas Company The
n-DeiteT-Ord-Hum pools were
confident that the melon was to be
sliced for the shareholders last Feb
ruary. But they were forced to wait
because the insiders in he company,
the controlling factors. decided that IL
would be unwise to put through any
thing with Congress in session They
were given faithful promise OF the de-
sired action ere Congress should again
assemble. hence the postponement and
the meeting of October H.
The pools are pretty big stockholders
Moreover, they are Verv inSlStenI- If
any pool holdings have been Hquidated
they have found their way into the
hands of members of another pool
The various pools viii come into the
special meeting prepared to vote their
own stock and thousands of shares own
ed by other stockholders, whose proxies
they will hold The directors ask for
proxies to its officials, but It is prob
able that there will be a larger repre-
sentatiOn Of shareholders in person than
usual
The possibility of a hitch in the plans
Is based more on the theory Of the in
disposition Of the insiders to do any
thing rather than the fear of opposition
from outside sources
Gas shares sold at TX TO 49, and
back to IS The transactions in the GER
tificates were light, and based on a
speculation involving "a chance to the
buyer Of losing $3.50 to 1915 on each
$1,000 Of certificates purchased There
were no transactions in the IS, 10 b.
ing the asking price with 105 bid.
The earnings of the two traction COM
Panies continue excellent, according TO
reports from inside sources No figures
are given out to substantiate the re-
ports Capital Traction shares were
little higher, selling at $50. Small sales
OF Railway common were made at 81
Railway preferred was more active 81
STSt to IS, inside at the close.