The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1907-01-25
LOCAL FINANCIAL GOSSIP.

LOCAL FINANCIAL GOSSIP.
Brokers were clamorous for stocks
which for the most part they could not
get at yesterdays session of the Wash
ington Stock Exchange The bidding be-
gan early on local bonds. Gas certif-
Gates Washington Railway 4s. and Poto-
mac Electric 5s being specially In evil
dence. All these issues were taken to the
extent OF offerings at the prevailing
prices After-call bids were made again
Tor these and other issues, but none were
Forthcoming.
| quite a furry was caused when the cali
reached Washington Railway preferred.
There were many bids, and the price was
forced uD half a point, with only two
I quotation lots coming out. A feeling pre-
walls among the brokers thai The railway
shares are to see higher level, and the
stock is evidently being held back to take
advantage Of the rise
Mitchell Mining was easily the favorite
for the day nearly thousand shares of
1t being taken by a single broker with
others calling for more. The price was
little changed from 81, though offers To
take options at a better figure were re
peatedly made ~
Following the precedent Of the past few
days. a number Of sales in Southern Pub
lie Service Corporation was recorded. the
price remaining unchanged at l16.
Graphophone common came out strong
under the bidding Of a single broker. and
other members Of the exchange seemed at
loss 10 understand the sudden call for
TINS STOCK. It all went AT az.
The promoters OF the United States
trust Company stated last night that
they closed the subscription books az G
p m with several thousand dollars in
oVersubscripiious. They expressed salts
faction ~ the result Of the campaign for
SooseI! Pdons, ana announced that steps
would De Immediately taken 10 charter
the company and begin business.
Opinions o. the New York gyarI-af
Herbert L. Jones. Of Charles G Gates
y 70. The market continues dun. but
with a hrmness that surprises many. The
tendency is upward and good. Stocks are
buy on all recessions. Another good
bank statement should be reported ON
saturday"
Benjamin Woodruff. Of Post & Flag
again we have had q day 0f GuIlness.
out or gradually hardening prices. The
market IN several stocks has now rallied
about half Of what Il lest in the mast
TWO weeks, and if liquidation is stiII IN
progress and the selling stopped merely
To give prices chance 10 adjust them
selves before Tesuning operations Of this
hkiud, u Is probable that the market WILL
WORK down again 10 the previous low
level IF, on tu- other hand LIQUIDATION
has been about completed. we should
have a still further rally. Sentiment is
much mixed in Wall street. and until this
Situation becomes q little more clear. I
am in doubt what to advise our friends.
and would prefer 20 await developments"
q. Bowie Chapman. OF r. r. Chairman
d Co.-"The market lacked snap from
the outset, and the character and inpor-
lance Of business was unworthy Of men
ton. The final quotations were slightly
better than those of the previous day. and
similarly those Of Wednesday were better
than the day before. I feel that this slug
gish improvement viii continue. and thar
stocks should he bought for q rise OF
from 20 5 points"
s. H Agnew, Of Henry Ciews e. Co
The market was tame and almost lifeIsss-
Tie present strength in the general list is
not entirely due 20 covering Of shorts.
their contracts have been pretty well COW
erred, judging by the light demand in the
loan crowd. The large inside interests
show no disposition to take hold Of the
market to mark up prices yet, and com
mission house business is on a very small
scale II is safe TO say that a majority Of
the current transactions are Of a purely
professional nature With the absence Of
selling pressure 1t ought not 10 be diff
iicdlt 70 work prices UP. with the easy
money conditions prevailing. but the
market is too narrow 70 expect great re-
suits"
Thomas l. Hume, president Washington
Stock Exchange market was devoid
of snap and interest, but withal rigid
and regular. The withdrawal from the
banks of 100000 90 Of government funds,
although gradual, should tend 10 stifen
money rates. but the receipts from the
interior should be sufficient to prevent
any real stringency. No threatening fea-
ture is apparent, and moderate improve
ment is likely"