The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1907-02-18
OPINIONS ON THE
NEW YORK MARKET

J. 3. Weed, OF Dick Bros. 6, Co.-"After
a little activity at the opening, in which
"A few stocks moved up fractionally, the
general list lapsed into dizziness. and pro-
fessional transactions constituted the
principal activity during the rest OF the
season. The bank statement was some
what better than expected, but this did
not seem 10 stimulate much buying The
close was firm. with prices around the
best, though trading was very quiet ]
believe that a firm adherence TO the bull
side Of this market viii prove highly
profitable TO the conservative trader
within the next six weeks. The buying
looks 10 be superior TO ihe selling"
Herbert Z Jones, Of Charles G. Gates
& Co.-"The bank showing was somewhat
better than had been anticipated. a bet
ter and generally higher market is looked
for next week. Good stocks should be
bought on all declines. Indications point
10 ihe passage Of the Aldrich financial
bill ~ the Senate on Monday. This viii
be an important factor 90 the money
market, and 20 ;he commercial and in
duStridl interests throughout the nation"
Benjamin Woodruff, of Post & Flag
There was very little doing. but the tone
VAS strong throughout The bank state
NJ proved to be better than expected.
favorable feature being a decrease in
las in spite Of the known large aota-
.Ins made lately.
Il am assured that the Aldrich currency
bin is going 20 pass early next week, and
there is little doubt that this belief is re-
spOnsible in large measure for the
OF prices. on the announcement
Of The passage of this measure, stocks
should be a sale. for with that out Of the
way the Hartman invest.g cation would
then be the paramount issue Closing
prices were at the high point Of the d..
moving up in the last five minutes quite
rapidly"
G. Bowie Chapman of Z. r. Chapman &
Co.--Prices were strong, although the
leaders failed TO open at the London
level. During the final few minutes the
market was spirited and advanced ma
terial'y, the last prices being gratifying TO
the advocates Of a higher level Indica-
lions would point to "A continuation of this
during the f!s part of the
week. The bank statement was more
favorable than expected. the reserve be
ing strengthened slightly and the loans
showing for the first time in months
a contraction. 1 think the market will be
very much better next week"
s. II. Agnew, Of Henry Clews e Co
THE market was strong and gave evil
dences of good buying. A somewhat IN
favorable bank statement was looked for
and it proved to be the reverse. The
items OF $4,000 decrease in loans, 81 ,090.-
Coz increase in surplus reserve. and only
81. 900. 600 decrease in cash. was considered
favorable. The placing of S29060,001 Of
bonds BIZ the New York New Haven and
Railway Company in European
markets. or what are considered good
terms. cannot be overlooked as an impor-
tant factor in the stock market The
issuance of large quantities Of bonds and
notes has heretofore been classed as I'M
favorable 10 the money market. as II
absorbed large sums OF money needed in
the street. The reverse is the case in
placing bonds abroad which brings new
money here Il is also stated that a Dor
ton Of the $1,000, 600 notes of the Inter
borough Company VIII also find their way
across ~the Atlantic, The japanese qu4s-
ton seems to be nearing q settlement, and
Il j. quite probable that the currency bin
viii be taken up by the Senate on Mon
day. lt is also stated that Secretary
Shaw viii not recall the So. 900 900 special
deposits from the national banks but will
leave It for Secretary CorteIyOu 20 act
upon. All the foregoing are favorable
and important factors in determining the
value Of stocks. and coming in "a bunch
as they do, should have "a very favorable
effect upon prices next week. ] look for
a strong and advancing market from the
opening on Monday.