Evening star. [volume] (Washington, D.C.) 1854-1972, 1911-08-02
The World of Finance and Trade.
Washington; New York; London
LOCAL FINANCIAL NEWS,

Little less than sensational was the ad-
vance in Georgetown Gas on the Wash
ington Stock Exchange at the noon ses-
sion today. For long time the regula-
ton bid for this security has been 100.
while the stock has been offered for sale
at an average of about 1O5. But buyer
with several orders to fill appeared in
the market today, and the lowest Offer
ing of any Georgetown Gas stock was at
1 II. and at this figure sale of twenty
eight shares was recorded. moment
later the bid was advanced to 115. and
on this level two lots, one of forty-seven
shares and the other of three shares.
were transferred. No more trading &C.
CURED. although the closing bid was 1875
The only stock in sight at the close of
the market was offered at 200. but this
obviously was merely a spectacular of
fering, and its only meaning was that
none of the brokers apparently had any
more stock that they were willing to sell
at any price
Only Yesterday Georgetown Gas sold at
100, so that the sales price of the stock
transferred today meant an actual jump
of fifteen points. while the later bid of
12o marked a clear rise of twenty-five
points.
Inquiry after the exchange meeting into
the cause for the twenty -five-point ad-
vance produced only the assertion from
some Of the brokers that it is likely there
viii be revaluatfon of the plant of the
Georgetown company In the near future,
and this is expected to show that the
actual physical value of the company
franchise and equipment is much greater
than it now appears to be.
The Georgetown company is serving the
one section of the District which is eX-
perieEcing the most rapid growth. SO that
its number of consumers constantly is in
creaSlng. 1t also was stated that Of the
f,NO shares Of stock in the company only
very few shares are held in compare
lively small blocks outside the interests
which control the fortunes of the corpora
ton. and consequently actual stock in
large blocks cannot often be secured.
Aside from Georgetown Gas there was
httle OF unusual interest in the trading
during the stock exchange meeting, the
sales recorded being scattered we'll
through the list and none of them being
large in volume. Two small lots of Cap
ltal Traction were taken at 1:;1 and four
blocks of Washington Railway and EIec-
trlc common totaling an even 100 shares.
Railway and Electric preferred found
buyers at 81 and 91is. the total number
of shares transferred being forty -four.
one ne-thousand-dollar Potomac Con-
solidated five which went at 1O2.
\ few shares of Washington Gas were
Announcement has been made that the
stockholders of the Commercial Fire In
surance Company will hold a meeting Au-
gust - to formulate plans to increase the
capital stock of that company from
$4,000 to $250.cnO. the object being to
place the company on a footing which
VIII enable 1t to extend its business gen
orally throughout the states and terri
tories Of the Union.
The Commercial Fire Insurance Com
pany was organized in 1890 and II has
been in business in the District of CO.
lumbla continuously since that time In
February of the present year New York
interests purchased ~ per cent of the
stock. THUS securing control of the COM
pany, and the capitalization was increased
two months ago from S100,O0O to the
present basis of x125.GOO At the same
time the surplus of the company was in
creased by $15.OD. and it is said the time
is not far distant when the capital stock
will be increased even beyond the $3.50, coo
mark.
W. 5. Hoge president of the COM
pany, has held that office ever since
the company was organized, and Paul
a. Grove the secretary has been in
his present position for nineteen years
The present officers of the company
are w. S. Hose. president: Robert r.
futile. vice president; Paul F. Grove
secretary. and John Mckee, assistant
secretary. a majority of the directors
of the corporation are local business
men.