The Washington herald., 1912-12-18
Local Financial Matters

ton and UNDERWRITERS $4,000 bond is
sue. A deed from the Chevy Chase and
Great Falls Land Corporation to the
railway company conveying a strip Of
land for right Of way, thirty feet wide,
from the intersection OF Bradley Lane
and the Rockville and Georgetown turn
pike to Great Falls, and twenty
three other papers clearing the title to
the right of way also have been filed.
These papers are understood to clear
the way for the construction Of an cleo
trio railway from the intersection OF
Bradley Lane and the Rockville and
GEORGETOWN turnpike to Great Falls,
distance OF about nine miles. Their filing
for record followed favorable action by
the Public Service Commission of Mary
land upon the application Of the railway
company for permission to issue SOo,tcS
in bonds.
washington Gas furnished the trading
on the local Exchange, 800 shares being
sold at IS, a price that has not been
reached for some months. The buying
was for investment. Thomas Hume sold
the stock and had more for sale at the
same price The best bid was $50, with
s. as the selling limit.
There are few stocks on the local list
that would stand the liquidation Of
block of the shares at this time There
are no orders, things are next to
standstill. the Washington Railway and
Electric issues are absolutely neglected.
In all, 221 shares of Gas were sold and
every share of 1t was taken for invest
ment.
There was nothing new in a financial
way Everything was just about as quiet
as it could be. With million coming
out in dividends and interest and then
$4,000 more with the advent Of Febru-
airy there ought to be some improve
ment.
That some OF this cash will seek re-
investment goes without saying, but II
will be in high grade dividend payers
and bonds
The local bond market offers oppor-
tunities Both Washington Gas 5s and
Capital Traction IS are offered at llO
with a fraction underbid for the latter
and lOslL the best bid for the former
Potomac Consolidated 5s high grade
issue is offered at par, something tempt
ing to local investors.
Washington Railway and Electric com
mon stock was offered at S5l5 with Sk
bid. The preferred was offered at SSts
with S7Is bid.
Nothing new from the headquarters OF
the Washington Utilities Company.
Railway as sold at sS1A, small bond
indicating a rather better market Tor
this issue.
Merganthaler was easier. bank stocks
show a disposition to case a little, al
though American Security & Trust sold
sparingiy at so, with sos bid and 70
asked on them all.
National bank elections will come next
year on January II Proxies are out for
the meeting OF the Riggs National and
number of other banks.
So far as known or indicated by the
gossip of the street there will be no
changes in the personnel of bank ofncials
in any of the fiscal institutions Of the
city. Rarely has there been such gen.
eral degree of harmony as evidently pre- |
walls at this time. No contests are in |
sight. no amalgamations, and unless |
something develops, it will be the most |
quiet bank election OF years.
The sale of 7O5 and 7o7 Market Place,
pne of the s. Kann, Sons & Companys |
buildings and realty, was reported yes
terday by Emmons S. Smith to James |
Sharp, the deal involving the purchase
by Mr. Smith of the Reclamation Service
Building on the northwest corner OF G
and Twelfth Streets.
Probably $4,000 was involved in the
transactions. S. Kann. Sons & Company
have a long lease on the buildings at
IC5-T07.