The Washington times., 1913-03-09
IN LOCAL FINANCIAL CIRCLES
By GEORGE H. GALL.

For the first time in some weeks the
price figures of securities on the Wash
ington Stock Exchange for the past
week show new high marks. In two
cases this was true: Federal National
Bank recorded sales at 140 and Nation
al Capital Bank sold at 224. four points
above the last. Five shares were sold
at this price.
Seven new lows also resulted from
eased of half point; Capital Traction
sold at l22h; Washington Railway COM
mon went down to 81; Merganthaler
dropped two points from the last low
and Lanston an eighth; American Sc.
curity and Trust sold at3310 and United
States Trust touched 49, In the cases
Of United States Trust and Washington
! hallway common, however, the new
| low prices were not Significant of any
loss OF strength in the stocks. Both
! came back, the Trust Company stock
especially, the last price being l3s.
] The week brought out an unusually
large volume of this stock. 245 shares,
and It was nearly all taken by one
broker. This was more than had been
dealt In In the entire first two months
| of the year.
| Quotations for regular lots of Federal
National. Bank stock were marked up
| for the fret time this week. establish
ing the initial price at 1Ao. a premium
"
| of the institutions existence.
A total of $4,000 of bonds and S67
shares Of stock were dealt In. The larg-
est transaction was the sale OF $5e.U
/ Washington Railway As at 50 by the
| leading broker in Railway issues to the
representative of a large national bank.
The sale of this $4,000 Of Washington
| Railway bonds is regarded as not in
| significant in view of the fact that
tak INyy nf ha
conservative national banks In the city
| in face of the enactment few Gays
previously Of a law creating public
| utilities commission and another law
| directly affecting the future financing
plans of the Washington Railway and
| Electric Company.
The transa ction is taken as arguing
that the new laws affecting Washing
tons public utilities will have salu-
tary effect upon their securities, rather
than otherwise and that investors Will
| be more likely to buy these securities
hedged about with Government super
vision and regulation than they were
when subject only to the sporadic legis>
lation of Congress.
One of the most enthusiastic men In
Washington over the enactment Of the
public utilities law is II. IL. Colds
borough, general counsel Of the George
town Gas Company, who had much
to do with the framing and enactment
OF the laW- .-.
For the people Of the District the
public utilities law Is the most i'm
portant enactment by Congress since
the passage of the organic act. and, in
some respects, is the most extraordi-
nary law ever put on the books" said
Mr. Goldsborough. 1T was passed ab-
soiutely on its merits and without push,
pull. or political influence. 1t Is ideal
in its fairness and protects equally the
interests of the public and public ser
wants"
Financiers, generally, hail the new
law with favor.
Tomorrow morning at 10 o'clock in
the District building the new public
utilities commission Will meet and
take steps to organize. The question
of whether the $4,000 appropriated
by Congress for the expenses OF the
commission is available at once or
later will not deter the members
from going ahead at once with the
execution OF the law. Commissioners