The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1907-01-01
LOCAL FINANCIAL GOSSIP.

Immediately after the opening of the
Washington Stock Exchange yesterday.
on motion Of Charles J. Bell. the board
adjourned in view Of the terrible calamity
which has befallen the city in the rail-
road wreck ut Terra Gotta. The motion
to adjourn was carried unanimously. A
few trades were then made by the brOk-
ers In an informal manner to fill pressing
orders.
Opinions of the New York Market.
G. Bowie Chapman, OF Z. r. Chapman
& Co.-'Stocks reacted somewhat sharply
in the early hours OF the session, but
rallied and closed strongly. This IS a most
encouraging feature, when it IS considered
that the rate on loans rose to . per cent,
and call loans were made In some In
stances at 40 per cent Stocks which
showed the most weakness in the morning
were the most active on recovery, but It
was noticeable that the entire list shared
in the better feeling"
S II. Agnew. Of Henry Clews & Co
During the early hours Of the trading It
appeared TO be a foregone conclusion that
the market would have TO run its course
of liquidation before any Improvement of
"a permanent character set in. A num-
Der Of accounts had been worked too
strenuousIy on the bull side, and these
were materially weakened by the recent
break in values. LONDON seemed TO have
assumed an attitude Of merely looking on.
as the transactions for foreign accounts
were almost nil. Later In the day the
shorts became buyers TO cover. rather
than go home short over the holiday.
There was also conservative buying
against dividends due tomorrow, hence
the rally. There is a general hope prev
alent that the New Year viii open with
higher prospect for money I think the
mornings opening marked the low prices
for a couple Of weeks to come"
J. B. Weed. Of Dick Brothers & CO.
After a drive by bearish traders shortly
after the opening the market steadied
and long stocks failed 10 come out, and
when shorts attempted to cover stocks
seemed TO be relatively scarce and could
only be obtained by bidding prices up. IN
the afternoon call money reached - per
cent, but this had practically no infu-
thIcr as II was ~ tit-it4 AiAL over Nllt
end OF the year borrowing was liable TO
cause sharp advance In call money
rates. The prospect Of easier money
in the immediate future, that is, before The
end Of this week. is not bright. and on
rallies the market looks 10 be sale or
the next few days"
Benjamin Woodruff, Of Post & Flagg.-
The old year ended in pretty bad shape.
in a downpour Of rain and the market
wondering how : got mauled 50 badly.
This should make US look forward, how
ever. all the more keenly 10 better things
in the new year, and this we do conf
IDENTIFY, with cordial good wishes for hap
piness and prosperity n 1851"
Herbert /. Jones, Of Charles G. Gates
& Co.-"The short interest, while It does
not show IN the loan crowd. must be
considerable, and even though money is
high again on Wednesday. I think that
having passed the years end without
financial distress IN any quarter a
higher level Of prices may now be looked
FOR regardless of temporary high money
rates. The entire list showed undoubted
support from powerful interests. and
those bearishly inclined can hardly
help admitting that the general position
Is In strong hands I extend 10 our
friends the compliments Of the season"