The Washington times., 1913-10-12
AMOUNT.

Stock Exchange This sale in Baltimore
is the more appropriate because tht
New York Telegraph. in It's nnancla,
chatter mentioned the sale OF sea,
on the Washington Stock Exchange al
$4,000 and then called attention to the
sale of a seat on the Montreal exchange
at $4,000. Curiously enough, Mon
treaI man, ]. NJ. Alfred, is behind the
purchaser
brokcrs- feel better is the fact that since
this sale the price of seats on the
Washington Exchange has SO stinened
that il would probably be Impossible
now TO buy a seat At less than an an
vance of $500 while probably much
more than 5000 would be demanded.
There are no seats for sale. except
possibly one, which is owned b. all
estate, and is not used. the other thlr-
ty-nine being in active use.
The stock of the Washington Railway
and Electric Company has advanced
steadily through the week, from level
of sllL, on Saturday, October 4. to %
yesterday. making just the week. AS
published il this column las: Sunday,
The cause OF this movement Is The
telief that the company will in
crease it's dividend rate. 1t is now
paving at rate of per cent, while
it's earnings, il is claimed, Justify a dis
tr:bution much higher. Ii Is said TO
be earning from IL 10 Z per cent on
the common.
Whether the dividend rate will ever
he increased, however, is a matter OF
much conjecture, as il is regarded as
doubtful if the Public Utilities Com
mission would net at Cnce demand that
some further concessions be made by
the COMPANY, either in reduction in the
fare, or more taxes.
There is always the universal trans
fer question. and many students of the
situation are convinced that the COLL
mission viii order this before many
months have passed.
Another possibility is seven tickets
for d quarter. which has a number OF
advocates at present, and which would
have many more If one of the traction
companies began paying dividends in
excess OF per cent
very peculiar point was raised at
the meeting of the Stock Exchange
Saturday by Vice President William };
Flather, of the Riggs National Bank,
one which probably never faced the
members of any other stock exchange
in the country. That was whether, If
the local stock exchange adjourned
over Monday, the transactions which
would normally be completed that day.
and the money paid over to the buyers.
would be settled. He made the point
that lie opposed the adjournment un-
less it were ruled that members of the
exchange vino had banking departt
ments would be at their offices for the
ca Shing of checks.
The point is just this: If broker
4 national or other bank
bought yesterday from broker who
conducts a private bank certain securi-
ties, the broker would give the banker
4 check, drawn on the brokers' own
banking house, for the securities. The
banker on Monday. however. would not
be able to send the check to the brokers'
office and have il cashed. but would
lose the days interest. II Monda, were
a legal holiday in the District OF Column
bia, this difficulty would be obviated,
because the banks would all be closed,
and the day would be treated. financi-
ally, as though it were Sunday. AS In
all other stock exchange cities the
hanks and stock exchange would be
closed. so this question could not arise. |
rhe ruling of the president. while it was
not protested. was not received with |
smiles by the element which objected, |
when he followed the example Of the |
New York exchange in declaring that |
after the exchange grants its members |
l holiday, it cannot take any step
which would force them to be at their
offices.