The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1907-02-15

I<iiti4 ueicSui on llie Nnoh'iH .otA Nh'~-N
Exchange yesterday was wanting the
temper Of the brokers being affected APP
by the disquieting news of liqui-
dation on the New York market, which
came in about noon. Railway shares
were weak. though the common stock
Of the Railway and Electric Corporation
sold back 10 20. while the preferred /
shares went down in the trading half a
point I
Greene Copper also reflected Boston
quotations and dropped nearly a point
Mergenthaler stood out strong from the 1
general list. selling up to 2O8. No ex- I
PLANTATION was given for the courage OF 4
several brokers toward this stock, but I
they seemed ready to take It even higher 4
than the top selling price Of the day.
W. B. Moses & Sons yesterday filed |
papers with the District /
The capital stock is placed |
at $4,000, and the incorporators are A. /
Q. Moses, W. II. Moses. and H. c. Moses I
The stock is both common and preferred, /
the latter being T34 shares. bearing a divi- /
dond Of 6 per cent per annum.
A member of the corporation stated
yesterday that the Incorporation marked
the passage Of the business from "A private
firm 20 "A corporation under the modern
rules of doing business. The change, he
said would establish the continuation Of
the business, which had been founded in
1861 and had enjoyed a prosperous career.
w II. Moses is president Of the corpora
iion. II. c. Moses vice president and A.
c. Moses, secretary and treasurer
Opinions on the New York Market.
Charles II. Edmunds. Of Dick Bros. &
Co.-"After a higher opening following
the Improvement in London. stocks failed
10 continue this advance in the face of
heavy proft-taking. This cheek was
followed by a period Of dizziness which
continued up TO the noon hour. then an
nouncement of regular dividends on the
Hartman stocks was announced. but
failed 10 have any important market ef-
fects though there was a short rally
after the Union Pacific dividend declara-
ton, which was Of very short duration,
then the market continued its saggiug
tendency again The close was quiet. with
moderate rally in progress which
brought some. stocks fractionally above
their low points
Benjamin Woodruff Of Post & Flagg-.
THE market reacted quite Sharply from
the high figures scored last night and this
morning No particular reason for this
appeared except that the short Interest
has been driven 10 cover, and the market
was more vulnerable Also, some dis
appointment Is expressed that the South
err Pacific dividend was not increased.
This seems absurd. for only six months
ago Southern Pacific was placed for the
first time on a dividend basis, and II
seems unreasonable to expect that the
rate should 50 soon be jumped up 20
higher figure believe II the crops look
Well six months from now We snail get
material increase in the disbursement on
the stock. II the market declines fur
ther ] think II should be purchased for
turn. but in saying this the passage Of
some currency measure by Congress must
be taken into consideration
Herbert l.. Jones. OF Charles O. Gates <
Co-"The probability Of financial legisla-
ton being enacted as Congress comes
nearer to adjournment win prove bene-
fetal 10 money and securities. Realizing
to-day was but natural. and on al such
declines the better class of rails and in
dustrials should be bought
s II. Agnew, OF Henry Clews & CO.
The market was disappointment.
After the first half hoar the strength
which has been marked since Monday
began 10 give way, and prices sagged
until the close. closing at OF near the
lowest of the day. Missouri Pacific was
the weakest, and received little support
from the inside. There was a rumOT On
the exchange that the company viii soon
issue SO. 10000 in short-time notes. An
other reason for the decline was that the
shorts of a week ago have all been driven
20 cover, and as the short interest was
practically eliminated traders began
selling again. The announcement of the
expected ~ per cent half-yearly divi-
dend on Southern Pacific failed TO rally
even that stock. The money market is
again giving evidence Of becoming a dis
turbing factor in the future Of the mar
ket II is noticeable that rates advanced
easily to-day to per cent for call loans.
1 look for a lower range of prices.
s. Bowie Chapman, OF r. r. Chapman
& Co-''Yesterday's strength continued
during the fore part OF to-days session,
most Of the leaders advancing materially
during that time. From noon the mar
ket became much quieter- Here and
there weakness developed, particularly in
Missouri Pacific while the local gas secur-
tiles advanced sharply The Union and
Southern Pacific dividends were an
nounced as being unchanged, that is ~
per cent on Southern. and . per cent on
Union. each payable April 10 the books
on Union closing on March s. Time
money rates worked a shade easier. Call
money. on the contrary, advanced to S
per cent but this was late in the after
noon and did not really represent the
actual market ! would avoid short
sales, feeling more inclined TO buy the