
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: TUESDAY, August 24, 1993                   TAG: 9308240025
SECTION: BUSINESS                    PAGE: B6   EDITION: METRO 
SOURCE: MAG POFF STAFF WRITER
DATELINE:                                 LENGTH: Short

ROANOKE GAS STOCK IS QUOTED AGAIN

Wheat First Securities, which suspended quotation of a stock price for Roanoke Gas Co. during the utility's dispute with city officials, on Monday resumed its quotation.

At the close of trading Monday, the securities broker's Roanoke office quoted Roanoke Gas common stock at a bid of $31 a share, down $1 from the previous quote of $32 on Aug. 12.

That was the last quote before the company said the city of Roanoke was considering exercising a clause in its franchise agreement that would allow it to acquire Roanoke Gas Co. assets within the city limits.

Roanoke Mayor David Bowers late Sunday said the city would drop its plans to consider that option and would extend the company's franchise 180 days while negotiating new terms.

As usual, the price quoted for the utility's stock is an estimate. "It doesn't represent any reaction" to the ending of the dispute with the city, said J. Tyler Pugh, manager of Wheat First's Roanoke office.

Roanoke Gas stock has not traded since the dispute arose.

In fact, Roanoke Gas stock seldom trades. Pugh said there are only occasional bids and offers to buy, and they don't necessarily happen at the same time.

The company's stock isn't listed on any of the stock exchanges or on the automated quote system of the National Association of Securities Dealers Inc. It is carried in the so-called "pink slips," reports that are mailed to brokers from time to time listing prices for thinly traded stocks.

by CNB