Evening star. [volume] (Washington, D.C.) 1854-1972, 1914-01-13
Washington Gas Company
Would Buy Georgetown Con-
Germ Subject to Approval.
ARLINGTON HOTEL co.
WILL BUY IN SITE
Revival of Interest in Local Securi-
ties-Railway Shares Firm-Wall
Street Expects Rate Advance.
BY I. A. FLEMING.

Counsel for the Washington Gas Com
pany are engaged in the preparation of
Il bill, to be introduced in Congress in
the immediate future, giving authority
to the company to purchase the George
town Gas Company.
Directors of the former corpora ton
have given instructions to their attor-
|neyS to make the terms of the sale and
transfer in the event of consent and
negotiations for the purchase being sue
cessful subject to the approval of the
utilities commission.
Counsel for the District and also for the
commission having held that the utilities
the purchase of the Georgetown Gas Com
pany by the Washington Gas Company,
and belief on the part of the officials of
both corporations that the needs of the
city can be better served by one corpora
ton, with 81 cents a thousand feet for
gas the city over, instead of that price
this side of Rock creek and 81 a thou
sand the other side. has led to the action
to secure the merger.
1t is the intention of the reo-ganiza ton
committee of the Arlington Hotel Com
pany to buy in the property at foreclosure
sale in this city January -
The Equitable Life Assurance Society
which advanced SSO0.0OO, was to have
leaned on this property and the improve
ments which We're contemplated, $500
600. The decision to forclose on the
mortgage will. necessarily end the con-
nection of the society with the whole
propositions
1t is stated that the reorganized COM
pany will soon commence the erection of
hotel on the site. But the reorganiza-
ton will wipe out much stock subscribed
and at least partially paid for by local in
tereStS.
Elections at the various national banks
today show more than the usual number
OF changes. The District National and
the Commercial National Bank both
elected Capt. Guy 7. Scott. son of fr.sl-
dent Scott of the Continental Trust Com
pany. on their boards of directors, which
would seem to Indicate a widening inf1u-
ence for the Continental Trust Company.
Floyd z. Davis. president of the Lin
coin National Bank. was chosen on the
board of the Washington Loan and Trust
Company.
The belated January reinvestment de-
mand has certainly started on the local
Stock Exchange.
Annual meeting of the Capital Trac-
ton Company will be held tomorrow. and
the friends of the old reliable are look
ing for an excellent statement. 1t is
Electric Company will make the best re-
port in its record, 1913 being a banner
year. The prospects of one gas company
for the entire city give strength to the
Washington Gas shares. even though the
proposition is in embryo.
Railway common was strong at go
The preferred stock showed more
strength than it has for weeks past
Starting at 80 it moved up to 80 and
the final sale was at that price.
Washington Gas was strong at a.
Federal National Bank shares strong
at 1876. American National sold at 100
There was a decided Improvement in
the bond market. in the volume Of
business and some little additional
show of strength in prices. Potomac
Consolidated So remain very strong at
par. Capital Traction SIS were firm at
lOsls Gas IS. 1861: Washington and
Norfolk Steamboat IS, 105, and City
and Suburban 5s. 99H.
Wall street is very confident that the
railroads of the east will be given the
) per cent advance in freight rates for
state commerce commission. Local cor
respondents of New York houses have
been given to understand that this acton
is practically assured. and that the be-
lief has been largely responsible for CIV
Ing the market fair tone, in the face of
much ultra drastic talk of trust legisla-
ton.
During 1918. the poorest year since
1897 there was not single day on
which the total number of shares sold on
the New York Stock Exchange reached
100000. The busiest day was June 10,
the sales amounting to S71,222 shares,
and the dullest day November 2J-57. PA
shares. This table gives the number of
days in each year when the sale of stocks
on the New York Stock Exchange en-
ceeded 100000 shares.