The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1907-07-24
LOCAL FINANCIAL GOSSIP.

Operations on the washington Stock
Exchange yesterday were evidently af-
fected by summer dullness. Capital Trac-
ton and Georgetown Gas stirred mild IN
terest, but the trading was small and
without special significance, though there
were fluctuations Of points in the former
and points in the latter on the sales
recorded.
One sale Of Georgetown Gas was placed
on the record at IS, and the next sale was
at 30. Surface indications pointed to an
effort to boost the price upon rumOrs from
the city haH, which failed when broker
sold his stock at points under the
marked-up price. Under the effect of this
operation the bid price Stacked off half a
point, and was there pegged for the day.
One transaction only in Washington Gas
was recorded, that being an option on 100
shares at rs.
Opinions on the New York Market.
Benjamin Woodruff. OF Post & Flags
The market showed little change, though
It maintained a steady tone throughout
one Of the encouraging features was the
better prices for steel and copper, as the
metal stocks have recently been a good
deal In doubt on account Of reports OF
the slow way In which new orders were
coming IN Amalgamated. being ex-divi-
dend on Thursday, naturally shows some
Improvement on account of that disburse-
-. hafr nj in a.
crop situation, veto of the 2-cent-fare bill
in New York by Gov. Hughes. the dispO
sltion Of courts 10 lock into the consti-
tutionaIty Of some of the radical legisla-
ton passed in the last few months have
all contributed TO make the outlook
broader. The chief uncertainty rests with
the money situation"
Herbert L. Jones, OF A. o. Brown & Co.
Room traders seemed to be about the
only sellers, as there were no signs Of
liquidation. There seems TO be ne doubt
that investment buying is steadily going
on. and this = time must have a marked
effect With the first sign of the easing
Of time money rates II is more than prob
able that this demand viii greatly IN
crease in volume, and the more important
speculative interests viii also be found
arrayed on the long side. Buying on the
weak spots is recommended.
C. Bowie Chapman, Of E R. Chapman
& Co.-'To-day's market dropped back
into a highly professional affair. The
lower London prices and the strike situa-
ton IN the steel and iron industry caused
sufficient apprehension 10 produce lower
prices at the opening This was followed
by drive against the leaders, during
which most Of them lost about point
/ The market recovered slowly; the final
/ few minutes. although lacking snap,
showed most of the issues al about last
nights closing 20 fractionaliy lower. The
/ insiders are showing a disposition to allow
/ the market 10 take its own course. and
/ the traders 10 influence il about as they
| will. always checking any great changes
/ in either direction. 1 think that after a
/ few days more aggressiveness and de-
| termination Will be shown in advancing
/ prices. With this in view. I would buy
! the leaders, but only on weakness.
/ Z. ". Crew. of Henry Clews d CO.
! Good buying of Southern Pacific is inn
! parting strength to the general list, Many
seem to take seriously the gossip regard
! ing an increase In the dividend TO per
cent. Well-informed people do not credit
It. There is apparently good buying OF
| the stock, Notwithstanding the smars
advance already scored London has not
participated 10 much extent to-day. They
cabled a few orders for the purchase OF
Steel and some selling orders In Union
1 Pacific. The demand for stocks in the
+ loan crowd Is not large, indicating that
the short interest IS fairly well evened up
The general market obviously is so pro
/ fessional il requires little comment. i
is plain the stocks do not come out freely
which makes the long side of the market
look attractive on the bear raids, which
occur from day to day Owing TO th'
Inarrowness Of the market, one should b,
satisfied with moderate profits until some
thing looms up TO change the situation.