The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1906-12-25
LOCAL FINANCIAL GOSSIP.

Christmas was in the air at the Wash
in consequence little attention was paid
to business. one broker started sub
soription for the board boy, telephone
boy. and those who serve the elevators.
and everybody joined the committee to
encourage those who came in late 10
subscribe literally g0Odly sum was
collected for the purpose and given to
the boys by President Hume.
At the close Of the session Southland
Parker arose and maae some remarks
appropriate To the time and season, con-
graduating IKE members Of the board
upon the good spirit which prevails among
them, while engaged in the strife and
stress OF stock buying He said he had
no warmer friends than those who were
ready 90 take the advantage Of him and
others in a trade, and be had noticed
that as soon as the gavel falls there IS
nothing 10 adjust and no i'll feeling %
be nurtured among the members of the
Washington Stock Exchange. Mr.. Par
ker was warmly applauded.
President Hume made brief address
In a similar vein, and the session broke
uD amid general good wishes for the NOR
row.
The trading was mostly in railway and
gas bonds and railway shares. There
WAS no change in prices from Saturday.
Opinions on the New York Market.
Herbert J.. Jones. Of Charles G. Gates
q Liquidation continued. due 10 the
money situation. and there was a general
decline IN prices. Unless there is immedi-
ate relief ia the rates for loans. ] see
little chance for recovery in the market
for some days. My judgment is that buy
ing should continue on substantial de-
cllnes, and selling should follow on the
rallies. As for several days past, we may
expect a whipsaw market"
q. Bowie Chapman. of +. r. Chapman
* Co.-"From II O'Clock until the early
part OF the afternoon. the market recov-
cred slowly. but gave away again in the
last hour. and closed not far from the
lowest prices Of the day. The selling
seemed TO be caused by apprehension as
o. the money situation. the fear Of fur
Their liquidation, local, and from abroad,
and the general pessimistic feeling exist
ing here. The renewing rate for call
money was per cent. but rates showed
some further relaxation later in the day.
Time money rates. however, failed %
snow any Improvement"
Benjamin Woodruff, Of Post & Flagg-
The market has been without special
feature to-day. but the heavy tone has
continued. and prices in many instances
have shown further reaction. We must
hope for better things % come. and there
is every reason to believe that an i'm
provement viii set in after the first OF
the year, when IL is reasonable TO eX-
pect that money conditions viii become.
II not easy. az least steadier and less
onerous. AS far as I can make out, the
big interests do not intend 10 stop this
liquidation until it has run its course
s H. Agnew, Of Henry Clevs & Co;
THE market opened with continued
and heavy liquidation. which prevailed
throughout the entire session. There
weH brief periods Of attempted rallies.
but they were short lived, because as
soon as fractional advances were recorded
additional blocks of stock were thrown on
the market. Nor is this 10 be wondered
at. in the present money stringency in
three out Of four of the great financial
ceHters Of the world. IN London Berlin.
and New York money remains un-
probably high. Paris is the only one OF
the four great centers that remains
serene. and possessed Of abundant loaning
power just now. Some assistance may be
hoped for from that quarter. especially
AS Russian affairs are beginning 10 i'm
prove materially, as indicated by the
government announcement TO call in some
Of the last issue Of bonds. which France
subscribed for under pressure. This action
puts France in an excellent financial
position, and makes IL the only bright
spot of the four great financial centers
Unless some relief comes from this
quarter. I look for further decline in
prices. forced by continued liquidation
rendered necessary by the recent large
issues Of new securities put upon the
market 90