The Washington herald., 1912-12-21
OBSERVATION-DISCLOSURES

I
gave the metal stocks great strength.
The best gain OF the day was in Ma
| tional Biscuit stock, which rose points,
| and the greatest loss was on Delaware,
Lackawanna and Western, which drop
ped II points. and the reader may Judge
the reason for both gain and smashing
| decline, as well as the layman in the
| market
All petroleum stocks were decidedly
strong on the circular sent out by the
California Petroleum Company agreeing
to buy at 60 all stock that underwriters
I had unsold.
Atlantic Coast Line was the only other
weak sister.
The net gains for the day left the
shorts of recent days selling in hole.
The action OF the Georgetown Gas di-
rectors in advancing the price of gas to
81 a thousand. restoring old rates, game
as a surprise to the street. 1t was ac-
cepted by the few tinanciers who were
informed OF the action as the most i'm
portant step, next TO the formation OF
the Washington Utilities Company, in the
interest OF a speedy utilities law.
Congress has been urged to take up
this matter time ard again. and but for
the inaction of the District Committee
the bill now pending might have been
adopted.
Moreover. financial interests believe
that the utilities commission will ap-
prove of a measure to unite the two
gas companies.
The play In Washington Gas stock on
the local market yesterday was very in
teresting. The broker who has been
pressing stock for sale for several days.
Iquidating a large block for New York
interests turned buyer. The statement
is made that the balance OF the block
of stock. over 600 shares, was disposed
of at private sale.
". B. Hibbs & Co. were sellers OF
Washington Gas in quotation lots to a
total Of "a shares, the price advancing
IL to 81 IL at the close.
There are untitled orders both ways
that promise to make to-day's session
interesting. the more so when the news
of Yesterdays action by the George
town directors is digested.
There was a little better feeling in tho
stocks Of the Washington Railway and
Electric Company. the common nearly
a point higher and the preferred IL.
Capital Traction. although nominal.
was frmer. City and Suburban 5s were
the only active bonds, six 5000 bonds
being taken for investment at 103 IL.
The National Capital Bank has in
creased its dividend from per cent to
) per cent. payable semi-annually.
The Second National Bank, which has
heretofore paid per cent, will here
after pay per cent.
The United States Trust Company has
declared a quarterly dividend Of IA
per cent
Shannon & Luchs report the sale Of IA
20
Blanche H. Walker for $3.50. Also 1853
INLAND Terrace Northwest. to Albert c.
Knight for $3.50. this being one of $50
houses that Harry Wardman is now con-
structing in that section.
The same firm has sold $50 Hobart
Street to Homer B. Gardner for $3.50,
ard lis L Street Northeast to John w.
Fenton for s2iOO, the latter being six
room brick dwelling.
Washington bankers are very much in
earnest in advocating an extension OF the
Aldrich-NreeIand emergency currency
measure until such time as there shall
be permanent currency reform legisla-
ton.
The AIdrich-Vreeland emergency bill
established an emergency currency, avail
able under certain conditions on good
security, and the period that II would
he used IN case OF neeu was uNeQ 10
February J. 1914
Five hundred millions OF this currency
ere printed. No calls have ever been
made on this fund, but the fact that the
currency is available has stilled and
stifed fear of a money panic time and
again
With no indication OF currency reform
legislation with the efforts of the none
tury commission not satisfactory to the
party that will soon be dominant the
least the majority can do will be to in
spIre confidence by extending the life of
at least one important piece of legisla-
ton that bears Mr. AldriCh's name to 1t,
coupled with that of the late chairman of
tie Committee on Banking and Currency,
Representative Vreeland.
1t may never be needed. but insurance
has its value.
The Aiunsey Trust Company, OF Balti-
more. will open for business January l.,
1915