The Washington herald., 1913-03-25
common STOCK
in SHARP RISE
Reached High at 81, a Gain Of
Four Points Since
Thursday.
PREFERRED IS STRONGER
Gas Stock Under Pressure Street
Market Higher-Gossip
of Street.
BY !. A. FLEMING.

a real live market. 1t was the first ses-
sion since the directors of the Washington
Railway and Electric Company announced
their intention of paying a dividend on the
common stock on per cent basis with
the coming of the gentle month Of June.
1t is a long time to look ahead to divi-
dend, and this fact has caused some com
nent. but the action was but the inten-
ton on the part of the directors to serve
notice to all shareholders that this in
crease was coming in order that when the
time comes the holders Cf stock who
might have sold will not have fault TO
find because they did not know of the in
tention to increase the distribution.
The broker generally accredited with
representing the Washington Utilities
Compsny and the Washington Railway
and Electric Company on the exchange
has been giving out bull tips on the COM
mon stock for weeks. When asked re-
garding the chances Of dividend on a 8
per cent basis some weeks ago, he an
nounced that il would he but short
time. The trading element did not be-
lieve it.
Market moved along slowly till Railway
common WAS reached. The first stock Of
fered was at o.; taken. Then 9215. S3, &i2.
and then 81 an advance of practically
points over the best hid of Thursday last,
fered at ~ was quick taken, and the bid
was on the floor when the call ended and
the stock WAS passed. In all, 400 shares
were taken The preferred stock started
at 50. and at that figure "a shares were
transferred.
And the 50 bid was on the floor when
the bell tapped. with nothing offered
under 81.
Gas shares Easier.
There was a decidedly easier trend
TO Washington Gas. There were bids
of s. at first. and then these were all
filed. and later the stock sold rather
freely at that price, and the final sale
was at S4:s. with stock offered at 50
and Sf12 bid at the close.
Other Stocks.
Other stocks did not attract much
attention. and as a rule they were
slightly easier. Bank shares were in
fair request four issues showing on
the sales card-Federal at 1S9. Com
mercial at @Ona20l. Metropolitan at
90. and fifty shares of National Bank
OF Washington at 245 and PA.
\ few odd shares of Capital Traction
sold at L.. MerEenthaler at 2l3a2l3i.,
and Columbia Title at 6ls. ~
capital Traction Was "~-dividend, but
not a hid or offer was recorded.
Bonds.
There was fair trade in Railway
4s at steady prices. S3'4 aS52s. Trac-
tion - eased a littl" to 1O9. and CO.
lunnhia IS brought 1o1.
The market is feeling the effects OF
the monetary SrringenCy little: not
actively nor seriously. not with any
chance of serious reaction. but just
enough to be noticed.
Naturally. the Railway issues will
be the leaders for some time to come.
Some shifting of other investments
may account for slight reces>ions.
Even investors like action occasionally.
Wall street.
There was decidedly better tone to
tht. trading on the New York Stock En-
change, with general advances in nearly
all of the leading stocks and few re-
cessions. There was nothing especially
new in the happenings between Thurs
DAYS adjournment and MONDAYS ses-
sion. Foreign affairs are more encourag-
ing: the bank statement on Saturday
was much better, made so through the
calling of loans.
Action in the loan crowd indicates that
the short interest has not been curtailed
IL any appreciable .Ntent. though it was
largely this kind of buying that stiffened
prices yesterday.
Everybody was on edge again for a
decision from the Supreme Court on the
Minnesota rate case. and once again the
court gave out nothing but disappoint-
ment Had the decision been given out.
the market would have made 4 good
record: that is. if the verdict had been
favora BILE. AS il was there was a slight
recession in the last hour from the high
of the day.
There was far less than the ordinary
run of gossip on the Street Much in
terest was given the dispatches from
Omaha and other storm centers, and
wires were entirely or partially down in
many sections and worked slowly in
others.
There was no session in London and the
transactions were kept down 10 10000
shares.
There were but three stocks that de-
clined. all preferred shares. Can. En-
ameline, and Utah Copper.
The gains in the old line leaders were
7-Sa11-s points. with Southern Pacific
slow in responding to the general
strength.
St Paul and Reading. with Union Pa
cific. gained a point TO 3-S Canadian
Pacific rose 3 points. Sloss-Sheffield 3,
and many stocks a point
Utilities Commission.
The Utilities Commission should GER
tairi1y have some plants upon which to
take action in the near future. Twice
the call has been sent out to citizens
associations to file their complaints, in
'legible handwriting" and these organ
izitions may be counted upon to put one
over in the near future.
Citizens associations have not been
backward in the past in coming forward
with their complaints, some usually very
serious ones.
The Utilities Commission and the en-
dire utilities law, as stated before. meets
with the approval of the utilities cor
porations of Washington.
One of the simplest ways of showing
fhe benefit is by citing the fact that the
railroad companies, the gas and electric
light concerns. any utility corporation,
in fact, may now make its plea before
the commissioners, who constitute the
commission, and il their claims, their
wishes, their stock increases, bond
issues &c, have merit back Of them,
II they are for the good of the people
and the District at large, the chances
are that the commission will give their
Official o. K. thereto.
Heretofore II has been impossible to
accomplish anything in the way of bet
fterment of the utilities. stock increases,
&c, because of the impossibility of Sc
curing the consent OF Congress.
Il is 80 much easier TO conduct nego