The Washington herald., 1913-02-13
STOCK TRADING
TAKES A REST
Wall Street Has a Holiday in
Observance of Birthday
of Abraham Lincoln.
LOCAL SECURITIES BRISK
Gas Leads Operations with Stock at
Sc and Bonds Firm
at ITO.
BY 4. 4. FLEMING.

BY 1. A. FLEMING.
LncOln's birthday being a legal holi-
day in New York and some other States.
the stock and produce exchanges of the
country generally were closed yesterday.
Baltimore and Washington were eNcep-
tions TO the rule, and the markets in
those cities were open for business.
On the local exchange business was
quite brisk and prices a shade higher.
Gas and gas bonds We're in good de-
mand, the price for the stock being fiat
at S6 and the bonds at 110. One broker
Offered to take $4,000 of the latter at
the bid price, and another offered to eX-
change rs shares of Railway common for
an equal number of Gas shares and a
bonus of 800. The trading was chiefly
confined to the gas and railway securi-
ties, with buyers apparently anxious to
get them.
Facts Regarding Gas.
In view of the fact that the affairs OF
the gas companies are occupying much
attention just now in Washington, a few
facts regarding gas as an illuminant may
serve to arouse momentary interest The
first production of gas as an illUminant
Was in England in 1726, but for many
Years il was only a substance known to
chemists who experimental with it and
reduced the facts regarding it to writing.
The first residence lighted by gas was
the castle of the Earl of Dundonald in
l1S6. which ne accomplished by distilling
the hydrocarbon from the coal The first
WORKSHOP in which gas was used was a
foundry in Birmingham, England, in 1902,
and the first incorporated gas company
known to fame was the Natural Light
and Heat Company of England, incOrpo-
rated in 1863.
Soon after this. gas found its way into
the United States, the first company
organized to undertake its manufacture
being formed in Baltimore in 1876. Six
Years later a second company was incor-
pOrated in Boston, and New York fol-
lowed suit i'm 1SSS The introduction of
gas from that time on was very rapid.
The Washington Gaslight Company was
chartered in 1S4S, and the Georgetown
company in 1854.
In fifty years the improvements in the
manufacture. distribution and burning of
gas have been revolutionized several
times. and finally il has come into COM
petition with electricity. which forced
greater improv rlrent and economy in
manufacture than all that had gone be-
fore.
Orders 1000 Cars.
The American Refrigerator Transit
company, with the approval of President
y +. Bush. also president of the Mis-
souri, Paciic-Iron Mountain, has placed
an order for 2.G0 cars with the American
Car and Foundry Company. of st. Louis
These cars. which are to be delivered
in the spring. will have steel under
frames and cVrry improvement known in
the line of refrigerator car.
This order for ears is nccessitated by
The incrcasc in traffic in perishable goods
on the Gould lines. The order given, in
conjunction with the contracts for new
cars let in 1911 and 1872 after Mr.. Bush
came to the Missouri Pacific, means an
increase in the equipment of the Ameri-
AN Refrigerator Transit Company of 157
per cent in the last two years.
VIII Extend system.
The syndicate headed by James L.
Duke. which controls the Southern Power
Company and the system of electric
traction roads in the Carolinas, now
being constructed under the name of the
Piedmont Northern Lines, is considering
the building of an extension to Atlanta.
The GreenVille, Spartanburg and Ander
son Railway Company. one of the Pied
mont lines, is now completing the con-
of a line between Greenville
and Spartanburg. and when this is COM
pleted connection will be established be
tween the North and South Carolina di-
\ lSlOHS DN ILe Ol Il line between
Spartanburg and Gastonia. 1t is about
l25 miles from Anderson to Atlanta, and
w. S. Lee. vice president and general
of the Duke companies, has an
nOUnCcd that if the necessary support is |
given by the people along the proposed |
route an Atlanta line will be built.
Demand for hydrO-electriC power in the |
supplied by the Southern Power |
Company has been so great that the COM |
ss. a,,li
additional current. A contract has been !
closed with the Georgia Railway and |
Power Company bv which the Southern !
Power Company will purchase n large
amount of current from the Tullulah |
Falls development, now being construct |
ed by the Georgia company. This service |
is to begin September l. 1913, and a trans |
mission line will be built from the power !
plant to Easley, S. C, by way of Liberty |
and Central.
May Issue Certificates.
Financial interests in the East await |
with great interest the outcome of a |
conference being held at Austin, Texas, |
between officials of the international and |
Great Northern Railway Company and |
the Attorney General OF the Lone Star
State on the application of the company
tor permission to issue what are known |
as interim certificates amounting to over
:. 100000, growing out of the reorganiza-
ton of the railroad company. |
When the railroad company made its
application to the railroad commission
for permission 10 issue the interim GER
tificates. the commission referred the
matter to the Attorney General for a
ruling. 1t was the opinion of the COM
mission that the amount was in excess
If the valuation placed by it in the roads
and, therefore, could not be
issued
The Attorney General was asked to
rule if these certificates can be legally
They are not in the usual
form OF stock certificates, but partake
Sf the nature and quality of both. The