The Washington herald., 1906-12-22
LOCAL FINANCIAL GOSSIP.


Interest at the Washington Stock Ex-
change yesterday centered chiefly in Mer-
genthaler, Greene Copper. and Mitchell
Mining. All these stocks were active.
though most of the sales in Mergenthaler
were Of the self-to-self variety. One
share of this stock was recorded as nigh
as ls9, and ten shares sold as low as
1875
Greene Copper started in at 21A and
sold up to 3ls. going of rapidly in 100
share lots. Mitchell Mining was firm at
81.
Secretary Woodruff announced that the
American Security and Trust Company
had declared a dividend OF ~ per cent
and an extra dividend of ! per cent. This
gave the stock a temporary boom. the
price jumping five points on the bidding.
one lot going on the record al 30.
Bristol Gas. the most cratic stock en-
the list Of the Washington exchange.
slumped five points on a sale of fifty
shares, the price being nearly IS points
below what a quotation lot was sold for
about two weeks ago.
The local railway and gas stocks and
bonds were almost entirely neglected.
James p. Lackey, secretary of the
Washington Railway and Electric Com
ipany, has resigned to accept business Of
fer in New York.
Opinions on the New York Market.
G. Bowie Chapman. Of = r. Chapman
q Co.-"Moderate improvement continued
in yesterdays market. with a few issues
slightly more conspicuous by their
strength. The closing was firm. but all
through the session waiting attitude
existed and consequently dealings were
much restricted Outside commission
business was light. The renewing rate for
money was 81 per cent, but the rate later
declined below 6. On the known move
ment Of money the banks are slightly
over 5000 000 ahead, and this. with the
liquidation of the week should cause to-
days bank statement to show the sur
plus reserve re-estabIlshed by com
Portable margin"
George L. Edmunds. Of Dick Brothers
& Co.-"The hammering Of Reading by
bear operators caused the whole list 10
react. but the volume Of stocks sold was
small; and though the market continued
unsettled. with particular weakness In
Northern Pacific and Great Northern.
subsequently the whole list rallied well,
especially Great Northern ore stock.
which gained nearly points over last
nights close Can money ruled much
~
cent Apparently a general advance in
prices is only held back by the high in
terest rates, and if money should rule
below s per cent even for three or four
days. the market should DO materially
better II would seem that we have seen
the bottom for some little time, at least.
Benjamin Woodruff. of Post & Flagg-
The easier tone Of money has helped
matters a little, and prices show some
Z further improvement The banks have
gained quite materially from the sub
treasury this week; consequently, a fair
bank statement is looked for There is
not much 10 say about the market Every
thing is waiting on money. and fluctua-
tons are immateriai either way Call
money is slightly easier but / think we
VIII have a severe pinch later. as
/ time money is just about tight as ever"
Herbert L. Jones. Of Charles G. Gates
& Co.-"While the market has steadied
somewhat, and money appears easier,
do not look for much Improvement in
the immediate future. Good stocks are a
purchase on substantial declines and a
sale on good rallies. Talk of a prominent
international banking house receiving
1 50 10000 10 S25,o00.o00 Of gold for import
+ II secured. viii benefit both the money
and stock markets. II is becoming evident
/ that Secretary Shaw has no intention OF
taking any steps Immediately 10 relieve
the situation"
). II. Agnew. Of Henry CleWs & Co
( The market shows considerable rallying
+ power. ON any decline in prices stocks
were well taken. and the buying was OF
/ the best character. Upon the easing Of
call money the volume Of business i'm
proved and the majority Of good in
| vestment issues closed at or near the
/ highest prices Of the day. Union Pa
cifc showed considerable strength. and
/ were Il not that the dullness incident
/ 70 the holiday season has set in, the
advance in that and some Of the other
/ leaders would have been greater The
market viii undoubtedly be dun and
/ hfeless until after the Christmas holi-
\ day, but I look for higher prices next
week. and during the first week OF the
new year A large amount Of money
viii be distributed in interest and divI-
dends during the first week in January,
I