The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1910-09-18
VERY QUIET WEEK
IN LOCAL SECURITIES
Lower Prices for Gas and
Mergenthaler- for
Meeting October IA.
BY 7 A FLEMING.

II has been week Of great dUllnsss
on the local stock Ezchsnge. I'VE ses-
sions yielding less than an average Of
loo shares Of actual transactions daily.
The cessation Of interest IN Washing
ton Gas has been largely responsible for
the falling OF. though the volume Of
trading IN local street railway shares
has greatly decreased and Lanston
Monotype, usually a moderately active
trading specially, has fallen into quiet
places
Gas shares have gone back q Dofut.
with sales of but IG7 shares all told i
is somewhat remarkable the lack Of
faith that one finds on the Street in the
ultimate enactment OF the proposed
plans for which the special meeting Of
October 4 has been called. We have
been fooled too often, IS one OF the
assertions made. The same story was
in the air last February, but the fact
that Congress was in session at that
time was given as the excuse for post
pCnemeuL
But the big pools that have forced in
siders 10 give them representation on
the directory and TO the considerati ton
II the measures Is announced In the OF
fetal call for the meeting October "a
the Letter. ord Hutton ana hume n
terests pooled IL one common demand
for larger dividends and concessions TO
the shareholders have been ins'Stent,
and the chances are that the program
outlined viii be carried through, about
the only question Of doubt being on the
fate of the 8 per cent certificates Of in
debtedness-
mis- WIN deDend largely on where the
control OF the 6's IS Centered- insiders
wire supposed 10 be heavy holders OF
these debentureS. but they may have
wisely marketed them IN the dl-vs when
they were many points higher than now
In April 1903. the 6 s were high. at Ia
and they dropped steadily until IN sep
TENDER Of 1907 they sold at 10ls the
n the same time selling at 9S-thiS IN
= rfnI
u 100. and but for the retirement clause,
that permits of their retirement az par,
they would now be selling much higher
Much depends on the character Of tre
per cent proposed bond issue, which Is
TO be used IN either retiring or refund
Ing the CeTtifiCa -es and for exchanging
for tie IS as II the probable market
value of the issue If no provision =
made for retirement after certain
period the bun7s wiz carry a higi7ef
market value If the stockholders are
70 have the rigl to subscribe for sZ.5ff.-
GO OF the bonds, aud the proceeds 70 Dc
viii be worth more than If fhe oondS
are to be exchanged Tor the certificates
dollar for dollar.
SU Of which viii probably be dnslly
settled in the conlparatively near future,
or DOSruCned for further ConSiCeTattOn-
Railway common dronped > OF q point
fFe prpferrcd held steTdv, and there
" mt enough dOiuC IN Capital Trac-
ti.,-l 10 make a market MerCentoaier
rose 10 23o. and as suddenly vent back
10 217iE. losing : IN addition 10 TIE re-
cOveTE-
In the bond list TIE inaCtiOn was in
tense. three 81. 900 bonds selling at flih
tor Traction IS and 81 for Railway As.
Though the dvance guard Of the win
Ter DouI1atiOn has returned 10 the city
the rank and file Of investors is still
absent. as indicated by the market
Next Saturday viii mark the last of
the summer Saturday adjOurnments-
Sessions VIII be resumed October J.