The Washington times., 1910-06-12
LOCAL SECURITIES
WERE MORE ACTIVE
Capita! Traction Earnings
Show Steady Increase.
Bonds Strong.
By I. A. FLEMING.

Washington securities have shown a
distinct Improvement during the past
week. Investors have been placing
cor siderable funds and in stocks that
are not dependent on crops. rate ad-
vances, the humor of the bear con-
tingent, or other influences that have
come TO plague Wall Street Prices.
save on one or two stocks, were
higher, and the bond quotations indi-
cate renewed strength in this class Of
stable securities. Y
Capital Traction shares rose to 13O1E,
and held the ~ points advance to the
end Of the week. Information that
cannot be questioned is responsible
for the report that every month of
the calendar year has shown earnings
in excess Of the corresponding month
last year. The figures are not avail
able, but they have been shown on
the Street, and have been res pOnsible
FOR the advance. There are a number
OF reasons for the heavier earnings,
and in considering these the weather
must be given some CreGit; the big
conventions that have been held here,
and the large army of tourists always
visiting the Nations Capital. The
price advanced from 129 to 1907, but
the sales were not heavy Holders Of
Capital Traction shares are well sat
isfed with their investment. and this
stock does not come out in big blocks
or even moderate quantities.
Railway and electric shares have
struck a new low al % for the COM
mon. and SOS for the prefrred, with some
slight betterment before the close Of
the week. The same conditions that
have helped the receipts of one com
Pany should be effective, in lesser de-
gree prhaps. in helping the other trac-
ton company. Officials Of the Washing
ton Railway and Electric declare that
business Is good.
Gas Strong.
Gas shares are actIng better. No lib
critics are being taken by the specula-
tive element, and no effort TO Hquidate
BY the holders Of these shares. The talk
OF the street is that an extra dividend
will be declared in the near future, if not
some further readjustment Of securities.
Lanston continues very weak to 1874
after opening at S27s. Officials Of the
company declare that business is ex-
cellent. but the stock slumps in a fash
ion that must disgust holders. Mergen-
thaler strong.
Bank stocks were quiet.
Bonds Firm.
Local bonds steady and fairly strong
all week. Here too the contrast is de-
cidedly striking as compared with the
action Of bonds in New York city. All
issues, in which there were transactions.
closed at the top. Gas As held very
strongly. JOS bid with the asking price
advanced yesterday to H.
Bank stocks are holding their own.
with a steady demand for certain issues.
Bank Gossip.
The most Interesting piece Of financial
news of the week was the sales by
President Jordan, Of the Merchants and
Mechanics Savings Bank, Of a block of
1850 shares Of the stock Of that institu-
ton. The report Of the sale Led to the
comment that Mr.. Jordan would give
more Of his attention 10 the affairs Of
the Commercial National Bank.
While a large shareholder IN that in
stitution, and a director, Mr.. Jordan
has asserted with pOsitiveness that he is
not a candidate for the presidency, and
also that he viii remain at the head Of
the bank Of which he is now president
1t Is within the probabilities that the
developments of last week may hasten
the selection of an executive head Of
the Commercial.
There is nothing new in the Columbia
National Bank situation. Everything is
moving along in the usual satisfactory
manner. Financial Washington expects
and awaits with interest an announce
menI that d compromise has been
reached and that conditions viii not be
disturbed in any way. As recently
stated IN this column an agreement
seems to be the only profitable solution.