The Washington herald., 1907-04-29
OPINIONS ON THE
NEW YORK MARKET

From The Washington Herald Of Yesterday.
J. B. Weed. of Dick Bros. & Co
Trading to-day represented only pro
fessionaI transactions and these were
rather few and far between. Union Pa
cific, Reading. Amalgamated Copper pre-
ferred. and Shelters were about the
only stocks that showed even moderate /
activity and prices sagged gradually un-
til the publishing Of the bank statement.
which made a better showing than was
expected. From then TO the close stocks
generally improved and showed fair ac~
tivity. Final prices were generally the
best of the day think 1t essentially a
traders market"
Herbert L. Jones. OF Charles G. Gates,
& Co-"The market viii continue 20 i'm
prove. Good stocks should be bought on
the declines Prices win mark higher
next week. The best informed autnori-
ties look for 40 change IN the Steel divi-
dend, bat a surprise IN that quarter Is
not entirely impossible"
G. Bowie Chapman. Of Z. r. Chapman
& Co-"To-day's market failed 10 pro-
duce any particular developments, and
such trading as took place continued al
most entirely professional The general
list closed steady. with some few stocks
showing gains. particularly Union Pa
cinc and Reading, the former being cas-
ily the leader. The bank statement was
slightly better tran expected. one point
worthy Of notice being that for the first
time III many weeks the loan showed
decrease.
S. II. Agnew, Of Henry Clews & Co
stocks remained stagnant, the market
duh, the volume o. business at about the
lowest ebb. and. until the publication Of
the bank statement. fluctuations within
half a point Business was practically al
standstin during the morning hour.
Many brokers had no occasion 10 open
their books. Floor traders were appar-
emily satisfied with profits Of One-eighth
of ! per cent, and owing 20 the narrow
/ ness Of the market were not working for
more The advance OF cents a bushel in
wheat yesterday iHclines many 10 the be-
/ lief that there is some foundation for the
rumOrs OF damage TO the growing crops
/ This is a feature which Will naturally
/ have a bearing on stock values in the i'm
mediate future. Upon the publication Of
/ the bank statement prices began to i'm
prove and the advance was continued
/ until the close. the highest prices being
/ recorded at the close While TIE Bss-ik
! statement does not add materially 10 the
+ reserves. the showing can be considered
/ as fairly good, in view OF the fact that
/ there is a small decrease in loans. The
! heavy increase in this item for the last
two weeks created some apprehension
/ that this weeks statement might also be
! bad. Ny opinion is that We are entering
4 upon creeping bull market. In which
/ Reading and Union Pacific viii be the
/ leaders I look for materially higher
/ prices next week"
/ Benjamin Woodruff. OF Post & Flagg.-
/ Trading was In limited volume, and
mostly professional After a duh opening
and some slight reaction in prices the
market improved, following the publica-
ton of the bank statement. and showed
/ a little tone at the close. Union Pacific
/ and Reading were the most active stocks
| Many stocks are undoubtedly at a low
/ level compared with income return, pro
yided there is TO DE no material abate-
ment in the prosperit5 Of the country.
/ Il is on this latter point that opinions
/ differ Many think that wages and prices
/ OF materials have reached so high a point
4 that some reimbursement Is necessary. and
( that the process may materially disturb
! business conditions. This with the IN
/ certainty regarding the crops. holds the
4 market in check. The bank statement To-
day was purely negative. but reflected
some improvement in the reserve. It is
difficult to offer useful advice in such a
market, but il would seem 10 afford mere
/ ly trading opportunities on rather narrow
| swings. with some upward tendency in