The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1907-02-05
LOCAL FINANCIAL GOSSIP.

At meeting of the governing commit
tee Of the Washington Stock Exchange
yesterday. 1t was determined TO list the
stock of the Merchants and Mechanics
Savings Bank. The capital stock is $780,
900. Edward P. Schwartz is the recently
elected president Of the institution 1t
was also decided to list the stock Of the
Washington. Alexandria and Mount Yer
non Railway Company, 100000 and per
cent bonds, $1sOO,000.
Interest centered yesterday in Greene
Copper and Mitchell Mining. Otherwise
the trading was sporadic. with slightly
falling prices. The Washington market
for stocks seemed 10 be controlled by the
dullness Ia New York, and brokers con-
fined their operations strictly 10 filing
of orders,
Greene Copper sold at 3o5s in 1oO-share
lots. with options at SlA. Six hundred
shares of Mitchell Mining went on record
at SO up to SIS.
The death OF Henry T. Trupp formerly
secretary Of the Metropolis Building As
ISOLATION. has left vacancy in that posi-
ton. Charles T. WoTthington, who pre-
ceded Mr.. Trupp as treasurer, has been
elected TO the Office of secretary. Joseph
G. +. Hartley and Edgar A. Trip are
candidates for the ONCE Of treasurer. at
the election 20 be held tomorrow, be-
tween and p. m.
Opinions on the New York Market.
S. II. Agnew, Of Henry Clews & Co
The market to-day was almost feature
less. Several feeble attempts were made
to rally prices but the trading became
dull on all such rallies Bearish senti-
ment abroad relative TO, American stocks
is growing more pronounced. Foreigners
openly express the belief that the great
amount Of American securities made dur
ing the last year. and now seeking in
vestment, IS bound TO pull down values.
and in the end influence general business
unfavOrably. There is no Disgusting the
fact that this belief Is also finding adher-
ents in this country. The big people are
stll selling and are always ready 10 do
so, whenever the market VIII take any
substantial amount Of stocks, without
breaking prices too badly. II Is proper
20 say that the bearish sentiment for
long pull predominates TO a large de-
gree"
6. Bowie Chapman. Of +. r. Chapman
& Co.-"Opening prices showed further
depressions. and in places decided weak
ness. after which the greater part OF the
day was given over to extreme dizziness.
and although prices held fairly we'll until
the last hour they then sold Of slowly
The finals show lower closings than Sat
urday About the only item Of news out
side OF favorable railroad earnings was
the taking OF 2o0.000 pounds Of gold IN the
London market for importation. Outside
Of purely speculative transactions for
quick turns the present situation is diff
cult to forecast. Should the present down
ward movement continue quietly and
without sensational feature, it would
seem that purchases on the weak spots
would be in order. reserving at all times.
however. an averaging power.
J. II. Weed. Of Dick Brothers & CO.
''To-dsy's market opened somewhat low
er, following irregular London quotations.
though trading was on a very moderate
scale. Prices continued 10 sag during
the forenoon. and weakness was seen at
times in such stocks as Reading. Penn
sylvsnia. Shelters and St. Paul. After
the noon hour prices hardened somewhat
and were generally I'D TO about the level
Of Saturdays close. but transactions rep
resented merely the swapping Of con-
tracts between professionals. and dullness
was the feature In the last ten min
utes small selling movement took place
In which Erie stocks showed considerable
weakness. The close was only moder-
ately active"
Benjamin Woodruff. Of Post & Flag
In the early hours the market did little
else than hold the feeble rally which
occurred on Saturday toward the close
Everybody seemed 10 be holding Off
awaiting and expecting that the bear
party would make another attack. which
they Will do before long. unless we get
higher range Of prices than has vet
been scored on any of the recent short
lived rallies. They will continue to ham
mer the market just so long as things
go their way. and they. are making all
the money. A favorable development of
the day was the engagement Of three
quarters Of a million gold for import. but
what we need most at the present time is
confidence and CTedit.sand not money"