The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1906-12-18
LOCAL FINANCIAL GOSSIP.

LO(AL / INAINCIAL OOSSlF.
The Washington Stock Exchange seems
to be especially sensitive to the condition
Of the barometer. When the skies are
bright. ditto on the exchange. When the
skies are thick and rain falling, things are
depressed on the F street board. fester-
day was no exception to the rule, and
with little trading in Greene Copper
and Mitchell Mining the brokers separ-
ated for the day with the record pracu-
cally unwritten.
Greene Copper sold 1S5 shares at % Is,
and Mitchell Mining, 425 at IS. While
there was a little spectacular bidding in
the latter stock it brought out no sales.
The stock Of the Metropolitan Fire In
surance Company advanced two points
to % on the strength of the transfer Of
the affairs of the company 10 a new firm,
as exclusively announced in The Herald
of yesterday.
The directors of the Home Savings
Bank have declared the usual dividend
Of per cent. payable December 81.
The Columbia and Real Estate Title
companies have declared dividends pay
able December 81.
Shortly after the close Of the market
yesterday. Herbert z. Jones, of Charles
G. Gates & Co, made the following
statement regarding the New York mar
ket:
we look for further Improvements
through the week on easier money condi-
tons that must obtain through the re-
lease Of large dividend Accommodations and
the operations Of the Treasury relief
measures. The important interests will
not encourage any extraordinary bullish
demonstrations, probably, but viii feel dis
posed 20 offer surplus stocks rather freely
in case the speculative element attempts
such tactics Consequently. those who
prefer trading for quick profits will find
opportunity for turns on the long side by
buying On the moderate reactions and
taking profits on bulges. Every indica-
ton points to a remarkable bull move
ment later, in which the old leaders
viii do better and new ones come to the
front"
benjamin Woodruff, Of Post & FIagg.
said:
4 am too much mixed to give an opin-
ion. our best traders have been badly
licked and whi2sawed the last two weeks
On last Thursdays break Standard Oil
interests came 10 support OF market in
nick of time Otherwise a bad break
would have occurred 1t looks now as If
these interests were selling the stocks
bought then, and traders were buying
Dick Brothers & Co. characterized yes
terday's market as follows:
"Trregularity marked the opening deal
ings and was seen during most Of the day
until the last hour, when Il rather sharp
reaction carried prices 10 within frac-
ton Of the days low price. The general
list WAS sluggish and inactive. with the
principal dealings in Reading and Pnion
Pacific
S. Bowie Chapman. of E. R. Chapman &
Co, said:
AT times during to-day's session the
entire market seemed inclined 10 rally
further but Il soon became apparent that
the liquldating pressure had not been re-
moved, and during the afternoon the mar
ket sagged of 10 give way more rapidly
in the last hour. With the exception OF
St Paul, most Of the active stocks show
losses, particularly in the Hin stocks, the
Hartman issues, Reading, and the
Steels. This does not seem TO US 10 be
the oppoTtune moment for any extended
advances or overenthusiasm."
s. II. Agnew, OF Henry Clews & Co
gave as his opinion OF the market that
q substantial reaction may be expected To
take place before the Christmas holidays.
In fact. it looks as though the holiday
decline had already commenced There is
an old saying that the bears usually buy
the Christmas presents and it IS my
opinion this year viii be no exception 10
the rule. It is true. we are in a bull
market. but it must be admitted that
prices are pretty high. the advance has
continued for a long time, and II may be
no matter Of surprise to see a decline of
several points from present prices before
any further advance The money sltua-
ton IS precarious."