The Washington herald., 1907-11-07
COMMENT ON MARKET.

Benjamin Woodruff. of Post & Flagg-
The relief experienced in financial cir
cies to-day was great. and justly so. but
New York institutions have put obstacles
1 IN the way Of any decided advance in the
market in the handling of the money
| situation. for at madday when there were
signs Of a rapid advances rates were
marked mp TO % per cent and the enthusi-
asm quickly died out This action was
eminently wise and proper for anything
approaching bull speculation. with con
ditions as they are, would be exceedingly,
dangerous The banks generally renewed
loans at % per cent. although the figures
in the open market ranged from u to Il
feei like advising 10 sell stocks on anv
effort to mark prices up
r. w. Crew. Of Henry Cl+ws & Co-
There was not very much in the wa,
OF news this morning to denote any mar
ticular change in market conditions The
knowledge that large amounts of gold
VIII be dumped into the market this weel,
and that more is TO follow has removed
much apprehension heretofore existing re-
garding the money situation No one ev-
poets the supply will be plentiful enough
10 carry on bull speculation. CommIssiop
houses had a few buying orders mis-
morning but there is no disposition ON
the part OF anybody 70 expand The feel
ing is that little stagnation will do no
one any harm after the recent excitement
The short interest is pretty well extended
but they are not inclined to cover untii
more OF demonstration is made agains+
them, and at present there seems 10 be
no such movement on foot"
q. Bowie Chapman. of r R Cba7n,o,
* Co--"Short covering continued during
the first part OF to-day's session. carry
ing most all the leaders from to 3 points
above Mondays closing Around this level.
inside selling was noticeable. and s,ocks
We're led out cautiously Naturally. This
had the effect of checking further al
vahces. causing the market not only to
become dull but prices to yield The final
VadlnS was quiet and featureless. some
further gold was taken for inlport hr,rs,
ing the total in the neighborbood %
SSb,0OOOOO. Some few loans on cali p,ara
made at 20 per cent, but the bulk of the
borrowing and renewing took place AZ
y and IA per cent. l would avoid specu-
iatiVe commitments, but advise invest
ment purchases.
George L. Edmunds, Of Miller & ca
AS result of the holiday a more cain,
and cheerful view of the situation nre-
vailed, especially on the part OF foreign
ers, who bought quite freely of the bet-
ter classes Of securities. The sale Of The
Tennessee Coal and Iron COMPANY ra-
heves the Trust Company of America 70
that extent. which. together with the ad.
ditional funds provided by the diractoro
pretty well places this trust companv
out of the doubtful list 1t would no, he
surprising If the Knickerbocker Trrs+
Company would soon open its doors the
nrst OF the troublemakers- II would 90
great way toward restoring confidence /
which is all that is necessary In the
present instance. since the prices IN IN |
date have discounted any reaction IN |
business that could be figured on nm 10 |
the present time. Naturally. all interest,"
from now on will lie in the banking situ- /
alton, the stock fluctuations being ex-
pected TO follow any Developments The
situation is fast righting itsesf. and I am
OF the opinion that confidence win grad /
ually return with stock-market huctua- |
tions rejecting the same