The Washington herald., 1907-07-19
LOCAL FINANCIAL GOSSIP.

| Business was brisk on the Washington
Stock Exchange yesterday. and as one
broker complained after vainly trying to
FIJI his orders. everything seemed 10 be
on the boom. The majority of sales We're
IN Capital Traction and Washington Gas.
those two leaders scoring a notable day.
Capital Traction stock nuctuatcd be-
tween 1856 and l35 IL. until near the close
Of the days business. when it shot above
136. going as high as 3-S on quotation lots
of the stock. At the close the Did was
strong at 1856 9-S,
Washington Gas started in briskly at
S2i2. but crumbled away to So where ii
rested az the end of the regular call. after
about 400 shares had been unloaded upon
one broker After call the price inn
proved and went back 10 S0l5, but In the
face Of the stock called out il was not
possible to maintain the price, and IL fell
back 20 50 At the close of business there
were large offerings on the floor at 50,
which apparently could not be sold
Mergenthaler went up two points on
sales and tie bid price was about three
points above that of the previous day.
Opinions on the New York Market.
Benjamin Woodruff. Of Post & Flagg-
While very dull most of the time. to-
days market has shown continued firm
ness. with special strength evidenced in
Hm stocks. Northern Pacific making the
substantial advance Of four points The
strength of this stock of late has been
accompanied by persistent rumors that
the disposal of the company's interests
in the Burlington stock TO Great Northern
would shortly take place and constitute
q substantial melon for Northern Pacific
stockholders. Copper was particularly
strong on the announcement of a straight
Is per cent dividend rate on the stock.
instead of per cent with an equivalent
extra. The general aspect Of the market
is puzzling to most Of the floor talent.
Cndobtedly the recent advance has been
the result of well-directed clique manipU-
lation. The short interest seems to have
increased considerably of late on the rise
and to be expecting some reaction in
prices. The chief point of interest for the
future is the autumn money market, ana
on this il is very difficult to get a line
while opinions differ widely The market
still seems 10 have an upward tendency
which. If money prospects were more
assured, might develop into considerable
strength. It seems probable that prices
will be well maintained for the present. -
G. Bowie Chipman, of E r. Chapman
& Co.-"More than the usual amount of
iTregulaTity existed. although the trad
ing was at all times professional, and in
certain Issues manipulation was very
active. This was particularly noticeable
in Union Pacific. The quarterly dividend
on Amaigamated Copper was announced
as ? per cent, thus placing the stock upon
a Eat s per cent basis and discontinuing
the policy Of declaring the half extra
quarterly dividend. Undeniably the tone
Of the market is strong and the ten
dency and upward"
E, w. Crew. of Henry Clews & Co
"As was expected from the weakness Of
the London market this morning, foreign
houses were free sellers here. The Bank
of England reserve is now I'D to &c per
cent. against 1870 last week but there
is no material change in the money sItua-
ton abroad. The floor traders who sold
stocks yesterday afternoon on the The
baud failure were the chief buyers this
morning, but there was not much in
clination TO do new business from anv
quarter. What is attracting the greatest
attention at present and causing some