The Washington times., 1913-01-23
WASHINGTON GAS
STOCK FEATURES
LOCAL TRADING
Price Eases off and 325 Shares
Are SoId-No Bank Stocks
Come Out.

SStttS S6Ss
Washington Gas stock was the only
feature of, the stock trading on the
Washington Stock Exchange today,
though activity in Washington Railway
As bonds resulted in the sale of s1l, 900
of them at s4l4@S413.
The Gas shares dropped downward
| again. Starting at sAlS, at which price
the first Us shares were sold, the stock
! eased off an eighth. and 200 more shares
were sold at the lower figure. The
pending litigation against the company
centering about the ownership of the
shares of the Georgetown Gas Com
pany. one of which suits is on the cal
endar for hearing today, and with a
fight at the annual meeting becoming
more imminent, the stock is not with
out reflection of unsettled conditions,
despite the fact that the company is
known to have had very good years
business. -
The only other transactions today
consisted in the sale of seven shares
of Washington Loan and Trust Com
pany at 2i0, and 81 900 Capital Traction
SIS at Ill.
The quotations on Arlington Insur-
ance were materially lowered, but no
sale was made.
The bank stocks which have featured
the last few days trading did not par
ticipate today. Some shares of Fed
eral were offered at 1881. with lS5 bid.
Commercial shares We're not dislodged
Prof. Charles A. Douglas delivered
the first lecture in his series of ten on
the Law of NegotiaEe Instruments be-
fore the Washington Chapter, Ameri-
can Institute of Banking, last night.
The lecture was well attended and the
speaker given close attention. The
next lecture viii be given "Wednesday
! night.
Three banks were awarded the en-
| tire issue of 81. 600, 600, Porto Rico 4 Per
cent thirty-year gold bonds by the In
sular Commission yesterday, the Milf
lin County Bank, of Lewistown. Pa,
5000, and the National City Bank, OF
New York and the Fletcher American
National Bank. of indianapolis, bid
ding jointly, the balance The price
for the 5000 was 10l and that for the
balance. s1oo.a. The Commercial Ma
tional Bank. of Washington. bid for
$4,000 at 1oc. and $4,000 al 1ooA. There
were five bids in all.
The Iron Age says today, in part: Con-
sumption of iron and steel is undimin-
ished, and production is at the maxi
mum rate. There Is less new buying,
both of pig iron and finIsned material.
Consumers in all lines are disposed to
move carefully. since the trade has
passed the period in which buying Is
stimulated by the expectation of higher
prices.
Naturally. when prices cease to ad-
vance. the reverse tendency is looked
for; but in finished material any such
development. SO far as contract prices
are concerned. Is not looked for for
some months. 1t is still true of a num-
Der of large steel companies that speci-
fications are exceeding output.
In the withdrawal OF Winslow S
Pierce from the board of the Western
Maryland a further Strengthening OF
John d. Rockefeller's hold upon that
property is seen. The explanation Of
Mr. Pierce's retirement from the d.
rectorate and the executive committee
is that he has sold his stock in the
road and it is surmised Mr.. Rockefeller
is the purchaser. Both the board OF
twelve directors and the executive
committee OF six contain a majority
of the oil kings representatives. With
George J. Gould in control, the West
ern Maryland went into receivershlp.
3. F. Bush. then president, was made
back OF him he began to build the
road up. When Mr.. Bush was pro
NOTED to the Missouri Pacific the
Western Maryland progressed more
slowly and finally became congested
with business because the old line was
not improved in time to care for bust
ness brought by the new connection
with the New York Central system.
Mr.. Rockefellers agents reported to
him after an inspection of the line
that II needed a, change Of management.
With Jerome D.. Greene, one of Mr..
RockefeIIer's assistants at 26 Broad
way. in Mr. Pierce's place on the ex-
ecutIve committee. the Rockefeller
Blair interests have four of the six
members and control of the property.
They hold about so per cent of the
Western Maryland's stock.
Baltimore and Ohio stocks Will sell
ex rights and dividends tomorrow. Ac-
cording TO calculations from official
figures, the road has earned all Its in
terest requirements. dividend on Its
preferred and 100000 in addition in
six months.