The Washington herald., 1907-04-03
LOCAL FINANCIAL GOSSIP.


fair amount Of business was trans
acted yesterday on the Washington
Stock Exchange. which was pretty well
spread over the list Capital Traction
shares sold of from ia to 14O SIS whils
Washington Railway common gained half
a point on sales, going 10 81, and then
sagglng back 70 81 I-2 on the closing bid.
The preferred stock had a similar rec
ord, losing one-quarter point on sales.
American National Bank came out
strong on sales Of 70 shares. in lots OF
ten. advancing from 1e5 to i67. with more
of the stock wanted after the shares Of
fered were exhausted.
After cali 10 shares Of Railway COM
mon were sold at s5, and price above
that made for large blocks OF tne stock.
Opinions On the New York Market.
Herbert L. Jones. of Charles C. Gates
ance and more actual buying by people
who want the stocks than for some time
past. On the declines stocks should be
bought"
J. B. Weed. of Dick Brothers & CO.
Though the London market was any
where from one to two points lower in its
quotations than Mondays New York final
prices, stocks opened lower. but began 70
regain their lost ground before the end
of the first hours trading Copper, Smelt-
ers, and Pennsylvania were all more OF
less prominent during the morning. as
was Canadian Pacific, which declined for
the day nine points. After the noon hour
price changes We're irregular. The close
was active with strong undertone. Some
unfavorable railroad reports We're made
public, but this had little influence.
continued % adhere To nay position taken
some days since and urge the purchase OF
good diyidend-paying railway stocks at
the market prices
G. Bowie Chipman. of f. r. Chapman
& Co.-'9The market lacked uniformity OF
movement. at times appearing 10 have
every sign OF weakness and at others dis
playing rallying powers. which quickly
recovered the losses. On the days work
the general list is lower. exceptions being
the Hin stocks. Brooklyn Rapid Traction
and Atchison. the latter being well bought
and advanced on the expectation that the
stock would tomorrow be placed on a
per cent dividend basis. Suspicion is not
absent that since the early part OF yes
terday afternoon considerable selling has
been done by inside interests. presumably
of stocks taken lower down for support
ing purposes. on the other hand these
offerings were fairly well taken As 10 the
future course of the market opinions
diverge. 1t is safe to say that the irreg-
ular trading tactics viii continue. and il
win prove market in which profits may
be made. but one in which haste must be
used iu taking the same,
S. H. Agnew. Of Henry Clews & CO.
Prices auctuated go frequently, up and
down alternately. that the market was
what is termed splendid traders mar
ket. Some of the large professional
traders started TO sell indiscriminately al
the opening. but it was quickly ascer-
tanned that the same interests who sup
ported the market last week were deter
mined TO prevent any fresh outbreak OF
Wild selling and smashing of prices. This
is the most encouraging feature which has
yet presented. as it indicates that the
bears hereafter VIII not have il all tl1eil
own way. Gable advices from London re-
port S2W000o in gold bullion secured by
New York bankers The foreign houses
were sellers. especially Of Steel and Union
Pacinc. TThey took all offerings of Cana
dian PacAc There has been stubborn
short interest in this stock. which it is be
Heved is TOW pretty we'll covered, although
there IS stnl some demand for the stock ia
the loan crowd and it is still lending al
a small premium. Financiers abroad dC
not seem to be favorably impressed with
Mr. ROoseyelt's latest utterances regard
ing the railroad situation. N0twithstand-
ing. believe the market hereafter a pur-
chase on all breaks, for it is still headed
In the direction cf higher prices. We have
had our panic of 1867 and are not likely
10 have another until socks get back into
weak hands again.
Benjamin Woodruff. OF Post & Flags
This is the third day Of strength in th'
market. and the bears have naturally
drawn the conclusion that some reaction Ii
due. They have consequently been ham
mering prices London opened lower. or
sales from this side. and from time 20 tims
determined attacks were made. but little
success was achieved and the short inter
est Increased TO a considerable extent
The favorable feature Cf the situation Is
the increase Of activity and strength iT
the bond market. This indicates what
have contended all along-that from nov
on we viii have easy money. but / believe
before autumn general business viii have
contracted sufficiently 90 make perma-
neatly easy rates even then I do not
look for any big bull market. but ] do be
lieve that prices viii hold steady around
the rresant level and nossiblY rally furthel