Evening star. [volume] (Washington, D.C.) 1854-1972, 1914-02-28
BID FOR BOND ISSUE
SUBJECT Of DISCUSSION
Speculation Concerning Price
$3.50, 500 of Capital Traction
IS Will Bring.
Sale of Bonds Has Been Authorized
by Public Utilities
Commission.

There was some speculation i'll local
financial circles today concerning the
price which will be paid for the $500, 500
Oh capital Traction per cent bonds, the
issuance OF which has been authorized BY
the public utilities commission. The bonds
are the unsold remainder of $1,000. 900
issue Of June /. 1907, authorized by Con-
gress.
The commission has ruled that the
bonds must be sold to the highest bidder.
Heretofore stockholders of the companv
were given the first opportunity to pur-
chase the bonds, 1t is said
Inquiry in financial circles today
Drought TO light the fact that several
brokers' are prepared to put in a bid for
the entire amount. No statements were
made concerning the price which they
were willing to pay.
oh the exchange today the bonds sold
at 1857. 1t Is predicted the $3.50. 500 of
the ponds to be released from the COM
pany's treasury will bring a slightly
better figure
In granting the application the COM
mission states that it considers the
money to. be procured by the bond sale
to be necessary for certain purposes,
and that such expenditure is not rea-
sonaoiy chargeable to operating ex-
penses or income. The sale is sane
toned on the following conditions:
flrst-That the company shall sell
the bonds at the highest obtainable
price under details to be approved nv
the commission.
oecond-That the proceeds shall be
used only for acquisition of property
ana ior the construction. completion.
a.enslon or Improvement of the COM
pahy piant or equipment, as approved
py the commission
iniro-That the company shall keen
separate accounts. showing, in detail. fbe
lecsapt ana application of the proceeds
OF the sale, and shall make seroi-annna1
reports to the commission until the sale
ls completed and the proceeds expended
rour!n-Ihat none of the proceeds of
tne sale shall be expended until a prop
n ns,y i,emized bill for each proposed ex-
peho1ture shall have been submitted to
the commission and approved.
Trading on the local stock exchange
tooay was to a large extent featureless.
5000 at s25saS23 Columbia Railroad IS
sold 81 600 at 1OO1s, and Capital Traction
o. $1,000 at 1851. Washington Market
5s. long. sold $500 at 95
raaing IN the stock list was limited
AN odo lot of Capital Traction stock
Drought ITO and an odd lot of Railway
and Electric preferred sold at 81. Seven
S4h. SWIM sh'
twenty-five shares of WASHINGTON Loan
and Trust stock sold at go, the asking
price or Yesterday. Continental Trust
stock sold ten shares at 1l9.
1t was stated today that a better lid
mas been made for the stock of the
Georgetown Gas Light Company than that
made by the Washington Gas Light Com
pany, which is endeavoring to absorb
me smaller concern. The Washington
u tha Light Company proposed to buy out
the Georgetown company on a basis of
sloo per share of stock Today it was
stated upon good authority that a bid
OF loo has been made for the entire stock
issue OF the company The identity Of The
bidder was not diyulged.
President Weaver of the Georgetown
company declared he had heard run1ors
OF the i6o bid. but knew nothing definite
ABOUT the matter. The bill now rending
before Congress authorizing the merging
OF the two companies provides for the
purchase OF the Georgetown stock at 1855.