Evening star., 1922-11-08
|GAS STOCKS LOWER;
FRACTIONS FIRM
Bid of SIS for Railway Com.
mon-BIock Will Be
Kept Intact.
BY /, A. FLEMING.

Todays session Of the local Stock
Exchange was decidedly interesting In
more ways than one. Public utility
stocks commanded the greater share
of the attention. with Washington
Gas taking precedence In the volume
OF business, total of 452 shares
being traded in on a declining scale
as the offerings Increased. from 81
to 5612. and then on share lot
55h.
Railway preferred sold at -, show
mig positive strength. The common
shares were nominal, but very strong.
with 65 bid and e. asked. The bid
price IS $40 share higher than 1t
was ten days ago, emphasizing the
benefit all around of the sale of block
of common shares.
Capital fractions sold at los and
Mergenthaler at III.
Washington Gas 5s were flrmer
at 105. CITY and Suburban Us sold
to the extent of $4,000 face value at
85a4, the first transaction in these
bonds In some time.
Traction IS were firmer at 9S.
That Mysterious Owncrnhip.
One mans guess is as good as an
others in the matter OF the purchaser
of the 27,500 shares of Railway com
mon from the noteholders' protective
committee.
Actual ownership is as much a
mystery as ever, but the fact was
stated with positieeness today that
interests already identified with the
Washington Railway Company and
represented on the directory of the
road were not among the purchasers.
With equal positiveness Washing
ton is eliminated from consideration
and New York is replaced as the
home of the buyers. as at first sup
posed.
But the actual buyers still remain
under cover, SO far as the public is
concerned.
1t is understood that r. y. Harper.
chairman of the protective committee.
will go to New York Friday. when he
will probably meet Messrs. Crane.
Paris & Co.'S. principals, and he
feels perfectly assured that the trans
action Will be closed on the 18th in
slant. the agreed date of payment.
Baltimore guessing on its own ac-
count, firsts selects the Capital Traction
Company. with the American Water
Works and Electric Company of New
York as second choice. Its flrst choice
is bad. the second may be right.
VIII Be Kept Intact.
1t is stated that the new owners Of
the large block of stock will keep it
intact. which means that 1t will be
a powerful factor in any attempt that
may be made to secure control of the
property at any time In the future.
Here is the opinion Of the Balti-
more Sun: Many of the underlying
securities of both companies CIV. r.
& f. Co. and Pep. Coz are held here.
and while regarded as entirely sound.
the railway situation in the District
has prevented them from taking the
rank among investments they should
have. Emory l.. CoblentZ. president
Of the Potomac Public Service Com
pany. who in the summer negotiated
for the sale of control of that COM
pany to American Water Works and
Electric Company. is a director of
the Washington Railway and Electric
Company. and according to reports
he and his associates lack only a
little of controlling the common
stock. These interests have been
as possible purchasers Of
the block of stock just sold"
Albert G.. Father for many years
connected with the American Security
and Trust Company. a service broken
only by two years Navy service dur
as. assistant to the president and in
charge of the new business depart
ment. to join the local brokerage
house of John l.. Edwards & Co. one
of the leading private wire houses of
the city. Mr.. Edwards is member of
the New York Stock Exchange. He,
too, started his career with the Amer
lean Security and Trust Company. re-
naming for years before entering on
his own business career.