The Washington herald., 1913-07-22
GAS MOVEMENT
Still FESTIVE
Unless Appearances Are De-
ceitful, Read to 100 Is
Closed for Repairs.
N. Y. STOCKS ARE STRONG
Gains n Leaders If Two Psins.
Bstklehen Steel Ostook. !.
Gossip.
By I. A. FLEMING.


say that the bubbles has blown.
Theories advanced by brokers have re
Gently centered on the possibility Of
buying movement for control. There ar,
number of stocks that might be bought
in quantities for control, but the Wash
ington Gas Company Is not generally
counted as one of these. There are q
few large shareholders, much stock TIED
up in trust and a large block of proxie.
for the ms at every annual election
It is further reported that efforts Wi
be made to have the board Of directors
enlarged with view of representation
to recent buyers of the stock.
This cannot be accomplished until Feb.
ruary, unless with the consent of the
men now on the board.
That the big block Of stock purchased
within the last two weeks on this move
ment has been taken up and paid for, In
these days Of close money. when Chicago
grain men are paying Z per cent for
cash. gives more actual tone 20 the ma
nipulation than all the rumors that have
been given circulation.
The trading point was reached very
closely. Stock was offered at IS and then
on to 80 before a trade was recorded,
and then to So SIS which was the best
bid when the official call closed, AMI
when the after call hammer fell In all
a shares sold 1t had every appearance
OF being the end of the play.
Other stocks.
Capital Traction sold at 1878 and
was offered at that price steadily A
little Railway preferred sold at S5-s,
a IS decline. Mergenthaler Ha and
Lanston 80. Railway As were strong at
s. rs
Personal.
Nathan 3. Scott. president of the Con-
tinental Trust Company returned from
short visit to California yesterday.
air, Scott is greatly improved in health
and his visit materially increased the
business of his institution, although his
"TRIP was one OF pleasure rather than
business. He reports fairly good bust
ness conditions and excellent corn pros
poets unless drought interiors in Kan
sas and Nebraska. where rain was badly
needed. Continental Trust Company
matters other than as to general con-
dltions. We're not discussed.
Interesting Problem.
The Southern Pacific Railroad Com
pany has introduced an interesting aues-
ton that will not be fully settled until
the Supreme Court acts upon il years
hence.
tl6lIu Is IndUe tfldI an interstate
railroad company is not compelled to
appeal to any state service board for
the right to issue securities
1t is certainly a broad subject II
might interest local traction people, the
more so as Washington Utilities Com
pany operating the Virginia
is an interstate line. operating chiefly
In Virginia and but small line in the
District The Washington Railway Com
pany went to Baltimore for permission
to issue bonds on the Rockville line-in- |
terstate again.
Stocks Strong and Higher,
Stocks were buoyant. and trading
was active. The close was at the, best. |
Early prices were firm, with notice.
able strength in Steel common, and |
this lasted until the end of the day,
with an extreme advance of points. |
There was little fresh news to ex-
plain the activity. but short covering
was future, and the prospects of
peace abroad helped.
Republic Steel common rose over a
point on the expectation that the an
lual report. due in day or two, will
show the full dividend of per cent
earned on the preferred and Z per cent
IN the common, with a large cash bal
Ince on hand for working capital,
There was another Improvement in
he copper market, with fresh demand
or the metal War rumors were in
part responsible for some of the in
luiries by manufacturers. Amalga-
mated rose over 2 per cent, with
trength and activity the other cop
'er shares.
Can stocks were both active and
trong, the common closing at SO and
Of IN or1x,
louncement is looked for regarding
he payment of the balance of the back
ividends on the preferred shares.
London bought about $4,000 shares.
g foreign markets were lower, the
uIk Of this business represented COW
ring of stock that has been sold at
,wer prices. Purchases included
Pacific. st. Paul. Union Pa
ific, and Amalgamated Copper.
The preliminary annual report Of the
'nion Pacific, showing a surplus in earn
nd equal to over Is per cent on the COM
ION, brought a burst of buying that
arried the price to 14S S. Southern
acific rose frantically. and Reading was
eady, along with Lehigh Valley and the =
ther coal stocks. Baltimore and Ohio
ivanced fully point, Notwithstanding
lie disappointment in the June state
ent, with its increase in gross OF $00,oo0
nd net decrease OF s14, 200. That 80
rye a gross increase should have been
ore than absorbed would be disconcert-
q IL it were not known that the COM
any 10 still charging OF food losses
lonth by month. i,
There was break Of II points In Wells
argo Express, which was variously ex-
aimed by the increased facilities offered
Y the parcel post and by 9, rumor from
1ashington that the Interstate Conn
erce Commission win shortly announce /,
reduction In express rates.
There was a further Improvement IN s
le money market and easier conditions o
rates for fixed date funds. \
The bond market 10 described m D
salthier. though there IL still room for :.
increase In the demand.
BethieAen Steel.
More than at any time in a number OIL i
ears, the bonds Of the Bethleheml
.eel Corporation. are selling on Z ..bar.|
lin basis." The first extentiou 81 are
ioted on the stock exchange At a level
hich yields to their purchasers sal Z,
Y cent; the refunding g are selling on p
level At which they yieid s1-3 Der -
mt There y nothing in the company's i.