The Washington herald., 1913-07-24
GAS Earnings
ARE EXCELLENT.
Dividend Safe and Shares
Are Worth Present Prices
as Investment.
ASK FOR A REHEARING
Utilities Company Wants Bosd Issue
Approved -Wan Sheet-Cur-
reney-Cossip.


rency-Cossip.
By I. A. FLEMING.
Appearances in this case were not de-
eeitful. The squirt IL over. The buying
movement which startled the holders of
Washington Gas stock last Thursday.
when IS was bid, has petered out COM
pletely, and yesterday stock was 10
the then high bid. The theory then adj
vanced was that it would be impossible
to accumulate much stock with a point
or SO advance every day, and that some
thing startling would be necessary to
bring out the shares. The theory was
absolutely right, but the wad of stock
over the market on Friday evidently
checked the desire to buy, and the spec
ulators realized that they had let another
opportunity to unload at a fancy price
slip up. Some imperative selling orders
were executed and the stock commenced
its return movement.
Yesterday $50 shares Of stock changed
hands opening at SO and going to IS IA,
with a twenty-five-share lot later on at
IS 81
Contention has been made in this col
the advance in Gas at this time. As
high-grade Washington industrial, free
from all the disturbing influences that
upset industrials in other markets,
company doing better than 1t has ever
done before, with a practical manage
ment and a growing business, livestock is
one that conservative men may hold in
their strong boxes; that conservative men
have handed down from sire to son for
sixty years.
Dividend Is Sure.
Practically nothing Is likely TO happen
that will in any way endanger the divi-
dend of the gas company. $i.a annually,
nor Is It within the posslpInues that this
dividend Will be Increased. considering
the higher prices for oil and consequent
higher cost Of production.
Just at present per cent fndustriaIs
are not worth par. Money is worth too
much just at this time and too scarce TO
justify the price. washington Gas STOCK
is closely held; that is, great docks or II
and the prox1e vote run direct TO one IN
terest heavily.
Gas is worth what II is selling for as
an investment for any one. On Its mer-
Its It should be selling about wnere II Is. |
II bought for investment, the purchasers
Will not lose anything on their STOCK that
cost them IS. That the stock, in q large |
measure was taken up ana paid Tor out |
right suggests an investment purchase.
There are possibilities that might send
Gas higher, but they are not IN the cate |
CORY Of rumors freely circulated last week |
and they are not probabilities OF the i'm
mediate future.
Railway common sold at -. ana Irac-
tion IS at 1Uy, the sum and substance OF
Wednesdays session.
i
Close observers or the trend or discus
sion and action IN the preliminary Work
of currency legislation are taking hope
law 1t may be shorn OF some OF its faults.
The manner in which the amendments
suggested by the real radicals of the
House are being cast aside is giving
cause for encouragement. Even an ef-
fort to eliminate interlocking directories
was side tracked, when the amendment
preventing a bank director from becom-
ing a borrower at his own bank was left
on the table, a second Pujo
recommendation went flying out Of the
door. Even the Baltimore platform plank
suggesting advertising for bids for Gov
deposits fell by the wayside.
These are encouraging symptoms. and
they help the hope that when the bill
arrives it may be different from its pres
ent form.
Ask Rehcaring.
The Washington Utilities Company has
asked for a re-hearing in the matter Of
the proposed bond issue, which was de-
MED by the Utilities Commission short
time ago.
As the Commission is now constituted
there are two Commissioners who did not
take part in the last hearing on the mat
ter, Commissioners Siddons and New
man.
The attorneys for the Washington Utili-
ties Company claim to have new and
important matter to present
1t is probable that the Commission will
grant the request for a rehearing.
Government Bonds.
The declining tendency of the govern :
nent bond market is exciting serious at =
ention. The IS yesterday were offered &
IT 81 IA, and the bid price. the best c
made was 96 1-2. Panama Is were not I
IS were weak and down to 102 bid, l0e "a !
asked. Panama IS were par. bid offered :
It 10l. If the weakening tendency con- \
inues offerings will increase. Banks are \
rot buying bonds; private holders are T
'ery nervous over the slump.
Wall street.
Yesterday was very much like its prede- 7
lessor. A negative day in the morning,
,lumping slightly for losses of IL point
With some recovery in the final hour when
he volume of trading increased mate
tally.
The net result on the leaders was a
lecline of 3-S on Reading, SIS on Union
Pacific, and 3-S on Steel The Hill
hares were on an even keel, Lehigh VAL
ey and many other stocks were steady, n
While Canadian Pacific was OFF about a n
'oint, Tobacco 3-S, Lorillard PIP, and G
smelling point. ~
New Haven was the weakling of the 2,
ails. dropping 21-2, or back to par. "
Jtah Copper. Central Leather, and few n
tocks were slightly better to point b
igher.
1t was more Of a waiting market, the VI
iexican situation, European conditions,
nd the strike situation all calling for
The bulls were disap- II
ointed at the lack of public following in A
he Upward movement Naturally the N
limitation of the short interest has .:
-eakenc the technical position of the
larket
Outlook for Steel.
There are evidences of a revival In
he steel business. The Dallas and Gulf
abroad has ordered 5000 tons of rails,
100 tons in small lots have been booked, ia
nd about $4,000 tons are on the market Al
ON the South. including 5000 for the a.
outhern Railway Company. NJ
One trade authority said Dc
L., a =.