The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1907-02-07
LOCAL FINANCIAL GOSSIP.

Much diversion was caused on the
Washington Stock Exchange yesterday by
references to the alleged pool started last
week TO boom gas stock. A quotation lot
Of the stock was sold at 57ss and offer
ings were made at lower figures. Finally,
one broker offered 500 shares OF any part
at 81. with no one to take any Of &c. one
broker stuck to an offer 70 buy 1Oo shares
at Sc, which he declared was about what
1t was worth. The brokers who were
active in buying the stock last week kept
to cover, and no further transactions
were recorded.
Trading was of a distinctly scattered
character and small In volume. Several
thousand bonds Of the Washington Gas
certificate issue were sold from 1i22s down
to 1I2as.
James NJ. Green, one Of the prominent
figures on the exchange, is at home with
a broken leg. caused by q fan Oh the icy
streets. Much sympathy was expressed
Tor him by members Of the board when
told Of the accident.
Opinions on the New York Market.
Benjamin Woodruff. Of Post q Flleg-
The market was strong Ga the first hour
OF two, IN fact, higher than last nights
figures. but the bulls seemed timld, and
considerable profit taking occurred al the
high level. The bear party. seeing this.
were quick to work for lower quotations.
picking out Missouri Pacific as the chief
point Of attack This was accompanied
by rumor that the company would
shortly issue 100000 short ume notes.
but this story remains unyerIded Prices
worked OF about a point. and transactions
We're extremely limited. j. seems as If the
market had struck bottom. temporarily.
and as the time for the adjournment of
Congress approaches. / believe We should
nave better prices, especially as there Is ii
reasonable chance Of a currency measure
being rushed through as an amendment
to bill already passed"
O. Bowie Chapman. Of +. r. Chapman e.
Co.-"Opening prices were generally
steady. the majority being around last
nights level with few tride above.
During the morning these prices improved
somewhat. but during the afternoon the
general list receded. Influenced largely bv
a drastic decline in Missouri Pacific. in
which the other Gould issues sympathized.
The closing was quiet. most issues show
ing losses for the day While it is true
the market shows resistance on the de-
ciines. ] do not expect anything more
than trading market for the present"
s H. AgneU. of Henry CIews & Co
''Thc prospect os passing some sort OF
currency legislation by the present Con
grsss impaired d slightly more hopeful
feeling TO the ministers of high finance, +
which has induced them to cease throw
ing stocks overheard for the time being.
They do not. however look for any pro-
nounced advance while the sdministra-
ton at Washington is pitting all its
energies against corporations. While the
rally may extend somewhat further on
covering OF shorts and buying for small
turns by the professional clement. the
big ones are ready 20 sell again on the
slightest proyocation. II is clear that
the issuing OF short time notes by rail-
roads is 10 be continued as long as there
is "a chance Of selling them This is shown
10y the latest issue Of S6JW.G50 a.. per
cent notes by the Rock Island Company. .
and current talk 10 the effect that Erie. /
Pennsylvania and others are 20 follow
suit In the afternoon hours of t0-day's I
market when buying orders had been
pretty well filled. traders again began /
cunning for soft spots. Short contracts .
seem To be pretty well covered. Ny adj .
vice remains unchanged, sell on good
rallies.