The Washington times., 1906-08-12
LATEST NEWS AND GOSSIP or THE STOCK rlARkETS
MARKET GOSSIP

The local stock market contingent
have been treated to several surprises
during the past fortnight, and although
the weather was not conducive to eK-
cessiye excitement there has been
enough OF interest TO warrant consider-
able attention to the daily transactions
and the gossip accompanying them.
Above and beyond all the rapid jump In
Greene Copper Of . points since the
close Of last month. has attracted the
most attention. OF course. there mas
been much inquiry as 10 the cause, but
the only reason given has been that the
shorts" got frightened. ran hastily 10
cover. and willy-nilly put the price up
on themselves. with very WY faces al
having TO take some bitter medicine
All the stories Of trouble at the mines
cessation OF dividends. and the aggrea-
sivr fght on Colonel Greene have been
relegated 10 the rear. and the friends
Of the company and the holders OF the
stock are once more iubilant over the
changed conditions. incidentally sew
eral doubling Thomases are nursing
some very vain regrets that they did not
take advantage of the low prices and get
aboard when the opportunity offered.
The dropping Of the peg placed on the
stock OF the Second National Bank be-
low 150 brought on It's natural sequence
OF some umid holders getting alarmed
and several sales were made around l4S.
After gathering in what appeared 90 be
about all there was pressing. the bid
was raised 20 $50 and then again low
cred to l48. with the usual result that
+f. III al In f-fa
Of loose shares AS the new stock
issued IN the early summer was put out
at $50 fl caused some rather free com
nlent that the bid was allowed 20 drop
below what was practically its par
value.
Capital Traction moves so sluggishly
the greater part Of the time that It oc-
casioned much surprise when OF a sud
den an interest that for several weeks
has assumed "A decidedly bearish attitude
even 20 the extent Of rather free criti-
eisms OF the lack Of support by It's
friends. hopped quickly 10 the other tack
and jumped the price up nearly points.
buying all the stock for sale on the
way up. or course. the inevitable ques-
ton. What does IL all mean. popped up,
but explanations have not been forth
coming that would appear 20 do more
than give but q feeble answer. The best
authorities are Of opinion that II was a
hot weather episode and was not due
20 an excessive short" interest running
70 cover or 10 any expectations Of an
increase I'm dividends.
During al this time the stocks OF the
Washington Railway Company have
been siugilarly free from any speetacu-
lar performances. The common has fail
ed 10 hold the pace setfor It IN the early
part Of the month. whiIe the preferred
has crumbied slowly with an evidence
Of some rather good selling 20 those who
read carefully between the lines OF more
correctly speaking those who can draw
good conclusions from the appearance
Of the certificates presented
Along the line Of bank stocks the Com
merciaI and American have been notice
Pblc. tie latter for the weakening of the
upward movement which rushed the
price mp TO 70. with reports OF eXten-
sive buying by wealthy interests. while
the Commercial touched a new high
water mark az 10. For a time Il
looked as n the coveted 3o0 figure would
De reached. hut the friends Of the stock
have apparently not decided % put lt
there for the present and until they so
decide Sc can hardly bC expected 10 at
tain that remarkable height The sue
cess OF the Commercial has been one OF
the noteworthy features Of our banking
interests and gives promise Of surpass-
ing even its past record.
There has been a steady accession Of
strength 20 MerEenthaler and at the
same time a rather unusual amount OF
activity. For several months past it
has been extremely dormant and brok-
ere were vainIy resTetJlHg the lack Of
tLat generous amount OF dealing which
made 1t so profitable 20 them. The trou-
blc seemed largely due TO the small
amount Uf stock that was offered for
sale. A few years ago IL was one Of the
big traders of the list. but nov the
transactions are Of indifferent amounts.
Lately there have been some good sell
ing which found a strong market that
quickly absorbed the stock for sale and
like oliver Twist cried Tor more Brok-
ers say that It Is now in the tin box
class and is ueId by investors rather
than as before by the speculative pub
lie.
On the remainder Of the list" there
has been but moderate amount OF
interest and less in the dealing with a
very general belief that with the com
ing OF the fau season there viii be a
decided resumption o. activity all along
the line and soma SURPRISES that will
prove OF interest 10 those who are fol-
lowers OF the local stock market quota
tiOns.
An advertisement of the Kanawha
Banking and Trust Company, Of Char
lesion. ". Va. contains this paragraph.
This bank is located ia a city that
invites manufacturers TO locate with
them and offers cheap natural gas and
coal. good railroad facilities and free
sites"
Here is a pointer for all banks every