The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1911-03-23
REALTY AND FINANCE


worth changed hands at 11o1-s after
call. One 5000 lot was sold during call
at no, but after call the offerings at
ITO is seemed unable to meet the de-
nand. Apparently buyers had lots more
money for these securities at the higher
price, after the last trade was recorded.
The per cent Capital Traction bonds
also claimed a share in the attention. The
asking price of Tuesday prevailed and
$500 in this security was sold at liz 3-S.
The seeming favoritism manifested by
the investing public for Railway pre-
ferred was still in evidence. Sixty shares
were sold at So, the asking price for
| Tuesday.
The situation in Washington Gas,
which for days has resembled the ''one's
afraid-and- the-other- daresn't" attitude Of
angry schoolboys. remained unchanged
| During the call ten shares were sold at
| - IS and five at 81. After call what
seemed TO be the bear party doomed
large with free offerings at the bid price
without stimulating the trading. how
ever,
Topnotch bidding was reached in
Observation-Disclosures common. 80 shares
in lots Of . selling at Sc IL. The asking
! price remained one-half a point higher.
Observation-Disclosures preferred did not
| fare so well. however. the last sale being
recorded at g. drop of one-half point
over the bid price Tuesday, Sc was asked.
| Provident Savings Bank. which has
been absorbed by the new German-Amer-
| lean National Bank. of which A. w.
| Loeffler will be president, was in evil
dence to the extent of a round hundred
shares. which sold at 10 par. II has been
selling of late at 9l1.
| Capital Traction seemed to be without
feature. The bid price OF the preceding
day was maintained-1c5-and none was in
evidence at less than 1851.
| 1t became known yesterday that the
business of the Capital Traction Com
pany for last February exceeded that of
| February. 1910, by $1,000.
Mergenthaler was steady at III and
2l7I1. One share went for the lower price,
after which - shares, in lots OF and u,
! brought 2l712. AL the close 2172s was bid
and 219I1 asked.
/ W. A. Mearns. who retired Tuesday
night as president of the District of
Columbia Bankers Association. was
elected to the directorate Of the National
Metropolitan Bank yesterday afternoon.
Mr.. Mearns is with the firm of Lewis
johnson & Co.
Shareholders Of the Norfolk and Wash
! inEton Steamboat Company have sub
scribed for the entire block of new bonds
Z
and have sent in subscriptions for
honds which will hn issued in the near
future. will he dated April l. 1911.
The annual tax sale of delinquent prop
| erty. which recently was concluded at
the District Building. totaled up approx
imately to $4,000. Ten Thousand pieces
of property on which taxes were not paid
for the year ended June 80. 1910. were put
up for sale.
The president of the Rosslyn Electric
and Gas Company, Douglass Mackall.
said Yesterday that the company is going
ahead as fast as possible in getting
plans for a supplemental plant with the
view OF being in position to supply cleo
trio current for lighting purposes in
I
weeks.
Because OF illness in the family OF one
of the experts for the State. the hearing
before a referee in equity to take tes-
tmony of W. F. Ham. treasurer of the
Washington and Rockville. Washington
Railway and Electric. and Potomac Elec-
trio Power companies, on the financial
I
has been postponed. The suit in Mary
land is to test the validity of a recent
act OF the Maryland legislature ordering
, the Washington and Rockville Railway TO
put into effect a general reduction of
rates after the LIST Of next month.
The officials claim that the revenues of
the company in question are not return
ing a fair dividend on the investment
represented and that the action of the
legislature is confscatory. Attorney lie
Mar. who is representing the States at
torney. and Sheriff Welt, of Montgomery
County. will try TO prove from the testi-
mony of Mr.. Ham that the Washing
ton and Rockville pays an exhorbitant
rate to the Washington Railway and
Electric Company for power. which that
company in turn purchases from the Po-
tomac Electric Power Company.
Because OF the close connection between
the three concerns, Mr.. LIE Mar will try
to prove that the true condition of the
Washington and Rockville's finances does
not appear on the surface.
The hearing was first set for Tuesday.
The new date for the first session has not
been announced. George P. Hoover is
representing the Washington and Rock
vile and the other companies concerned.
The destruction of the old Platter man
sion, in Massachusetts avenue, extended,
was begun yesterday. The historic old
place is to make way for a modern resi-
dence, and is being destroyed by dyna-
mite. Three explosions were made yes
terday and one wing of the mansion was
destroyed. The work Will be continued
to-day, and it is expected the place will
be completely demolished in a few days.
The work is being done by a firm of
local contractors, who will erect the new
home.
The building at the northeast corner
of Seventeenth and l streets northwest,
once the home OF the British Embassy,
which the late King Edward VII visited
when he came to the United States as
the Prince of Wales. is being RACED by
wurkmen. 1t is being removed to make
way for the new Army and Navy Club
W hiCh will he erected at a cost of S2OO on