The Washington times., 1916-12-21
LITTLE DEMAND FOR STOCKS
OR BONDS
Mergenthaler Linotype Settles
Down to Lowest Level in
In Monthly SelIihg-Many
Local Concerns Announce
Observation-Disclosures Mono
type Slightly Active-Ameri-
can Oraphophone Is Down.

There was practically no demand
for either stocks or boAds at today's
session OF the Washington stock Elk
OF brokers for execution were appar
change. The few orders In the hands
entity all OF the selling kind. and Sc
curities had to be offered at frac
tional recessions to attract buyers
Mergenthaler Linotype stock, which
sold yesterday a. t8T and 1874. was
sold today at 1854. the lowest level
touched by this stock In recent
months. The offering was only ten
STARE lot, but reflects the stagnant
condition OF the market The belief 10
expressed In financial circles that
many local investors who were
caught In the present slump In the
New York market are making seeri'
ncer OF their holdings to enable them
to hold on to their securities the'e.
A twelve share lot OF Lanston Mon.
otype stock sold for fih. A $1,000
frs. o PEI cent bond OF the American
Graphophone Company, which has
been one OF the most popular bonds
on the local exchange In recent
months, and which bonds have been
selling at IO2 to 1924 recently. sold
today at IOi. A $500 Washington
Gas o sold for IO8h and a $500 wash
Ington Railway and Electric was
sold for s2is. Four shares OF Rail.
way preferred stock at NJ was the
only other transaction recorded.
A number OF dividend announcements
OF local concerns were made today.
They include u regular quarterly divi-
dend OF 2 1-2 per ent or the NorfoIk
and Washington steamboat Company.
payable January I to shareholders OF
record December "a; n quarterly divi-
iend OF per cent OF tho American
National Bank. payable January I, TO
holders OF record December 2s. and
, semi-annual dividend OF 2 per cent
,f the Second National. payable tthe
,ame time and under the same ondi-
ions as the American National The
iiretors of the Firemen's Insurance
Company OF Washington and George
own announced n regular semi-annual
dividend OF J per cent. payable Janu-
Try TO holders OF record December
u. and Merhants Transfer and Stor-
'ge Company announces n dividend of
70 n share TO its stockholders OF re-
ord December 20, payable January !.
Stockholders OF the New York Cen
raj OF record January 2, viii be
yiven opportunity to subscribe To new
'tock OF the company at par. TO the
,Ntent OF 10 per cent OF their hold
ngs. on or before February o. under
ho decision OF the board OF directors
o market an additional $50. 900. 900 OF
he authorized stock OF the company. |
Payments for the subscriptions are
o be made on and after January 20.
n a letter TO stockholders advising |
hem OF the termF and dates OF the
lew stock offer. President A. II.
,mlth. said:
The authorized amount OF the cap.
tai stock OF the company II $500
00. 900. OF which s249.50o. 40 IL out
100000. 900 II reserved for
he conversion OF the twenty'year
'er cent convertible debenture bonds
4 1918, and 500. 409.6t0 In issuable
shen and as determined by tho boat 4
4 directors. The stock now offered
or subscription Is part OF the stock
asst mentioned"
Westinghouse Electric and Manufac.
uring Company has declared a quar-
erly dividend OF ! per cent on com
non stock, placing the stock on Z
er cent basis, which In an Increase
Z per cent per annum.
Union Pacific directors, at the meet.
~ today, are expected to vote an ex-
"a dividend. Tho dividend In not OK.
eeted to be In the nature OF a melon.
ut will simply represent a small
onus TO stockholders.
Ohio oil Company has called a meet
~ OF stockholders To be held Janu.
~ ~ next, to consider a proposed
,crease OF capital stock OF the com.
any from Sl5.OO0.00O to 10000. 900.
he increase to be effected by raising
he par value OF stock from x25 to
100. This would represent a 800 per
INT stock increase.