The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1907-04-05
LOCAL FINANCIAL GOSSIP.

The Washington Stock Exchange met
at noon yesterday and adjourned out Of
respect TO the memory OF W Riley
Decide, a member OF the body, who died
yesterday morning. President Hume an
nouneed Mr.. Decides death TO the board,
and a motion was passed suspending the
business of the session, and appointing
William A. Mearns and a. K. Paris
TO represent the exchange at the funeral
services. +. southard Parker made
short speech expressive OF the universal
sorrow at Mr.. Deebles death.
Opinions ON the New York Market.
Herbert L. Jones, of Charles c. Gates
& Co.-"The market continues 10 show
an improved tone and call money rates
TO mark lower. Time rates still are firm.
On the reeessions stocks are a purchase,
but on further rallies from this level
profits should be taken"
G. Bowie Chapman. of e. r. Chapman
& Co." Following the lead OF London
our first prices were generally lower,
but on a limited volume of trading. It
soon became evident that proper support
was being extended TO the leading stocks.
and the shorts upon attempting TO cover
their commitments found themselves
forced To take stocks on a rising scale.
With the exception of one or two irregu-
lar places the Improvement continued
throughout the day and the final prices
show improvements running from 1 TO
+ or points. Intermingled with the
short covering and commission house
buying there appeared 10 be some manip-
ulation. and In the latter part of the day
there was heavy selling by inside inter
ests, most of which was done under
cover. While the first part Of to-mOr-
rows session may continue the same
movement. 1 would then be Of the opinion
that some change Of sentiment and re-
action would take place"
Benjamin Woodruff. of Post & Flagg-
We have had a complete reversal Of
form to-day from yesterdays weakness,
and the buying has been to a great ex-
tent by the same people who sold so
freely and confidently on Wednesday. II
looks 10 me as if the bear market is over
for the time. as twice within the past
seven days the powerful bear interest has
made desperate efforts to break the mar
ket this being especially noticeable yes
terday when they used the threatened
railway strike now being considered in
Chicago. combined with the disturbing
revelations and determinations brought In
connection with the last political cam
paign.
The market to-day was strong. mostly
due TO the covering Of the short in
terest. and when this movement is over
l look for "a quiet market and perhaps a
sagging tendency for some time"
s. II. Agnew. of Henry Clews & CO.
The tendency is still 10 higher prices,
the course OF the market to-day fulfilling
I my predictions. Manipulation hereafter
VIII be in the interest of the bull side of
the market and for stiu higher prices.
I Stocks may safely be bought on any good
/ recessions for good profits. Following
weak London quotations this morning, ca
/ bles brought fairly large selling orders.
/ All offerings were well taken by commits
/ sion houses and the same class of people
/ who have been supporting the market
during the past week. This is particu-
+ larry true OF Reading. which is being
quietly absorbed by strong interests since
/ the recent raid. Politicians are confident
/ that the public-utilities bill will not be-
come law, unless greatly modified. and
{ these same politicians have been advised
/ TO buy the stocks likely 10 be affected.
I The market during the last few days
shows that forced liquidation has now be-
come a back number. Money seems 70 be
much easier at all the great financial cen
tiers OF the world"