The Washington herald., 1907-01-15
Opinions ON the New york Nlarl.et.

Opinions on the New York Market.
G. Bowie Chipman, of +. r. Chapman
& Co.-'To a bullish trader or observer
the market during the fore part Of the ses-
sion looked good. Prices advanced quite
rapidly. and although the offerings in
certain groups were rather large they were
well taken. About midday the market
became dun, but prices held near the
high points. Next came the rumor that
the Chicago and Northwestern and the
Chesapeake and Ohio would shortly an
nounce an increase in their respective
capital stocks. Using this as the arga-
ment, traders attempted 20 take profits.
and with some increase in activity the
market sold of rapidly. Final prices
were barely steady. many issues showing
more than fractional losses ] called At
tention some days ago TO the trading
nature of the market and the seeming
determination Of large interests 90 pre-
vent prices from advancing above certain
points. These tactics seem 70 be still in
force. and in daily trading one should
govern himself accordingly"
Thomas l. Hume. president Of the
Washington Stock Exchange The market
was disgusuugIy disappointing. The
opening was bouyant and forecast re-
newed activity. with a higher range Of
prices However, a decided Ianguor soon
developed. causing a shrinkage OF values.
which was prolonged until the close. The
market should continue professional. with
variable fluctuations, until q pr0pitious
opportunity is accepted 10 create an art-
q. ..e
tributing securities.
s II. Agnew, Of Henry CIews & CO.
As was expected to-day's opening re-
iected the favorable showing made by
the banks on Saturday. The strong buy
ing OF United States common was on
the belief that the forthcoming quarterly
dividend viii be Increased 10 per cent
Heavy realizing and prunJ taking caused
the market 90 sell OF during the last
hour. I anticipate higher prices this week
and / believe that the good dividend pay
ers are prefeCJly safe purchase around
closing prices
Herbert L. Jones. Of Charles O. Gates &
Co.-"On any further decline good stocks
are a purchase. Profits should be taken
on the rallies. The market is purely a
trading affair for the present"
Benjamin Woodruff. Of Post & Flagg-
THE market did well and showed consid-
erable strength until the last hour Of trad
ing, when a reaction of one or two points
occurred. The cause OF this was the ex-
pectation that the Northwestern road in
tended to issue. Immediately, some of the
500. go new capital authorized not long
ago. and that rights would consequently
be in order. The bears took advantage
OF this situation 70 sell the market, and
decline Of about six points in North
western furnished them with ammunition.
The market has become very sensitive
10 the enormous financial requirements of
our leading railroad systems. and the
announcements of any more money re
quired from the market is the signal for
a reaction in prices No doubt the capital
required by these railroads Is in response
to the needs of legitimate growth and
Developments but when one road after
another comes into the market for Sl0i.-
CJ3CO0 Il sets Wall street To wondering
where the money is to come from. This
with the probing mania Of the day. seems
TO interfere with what would otherwise be
d decidedly strong market. As it is, we
have conflict between these forces
and we may be considered 10 he doing
very weu when prices hold steadily and
show no liQuid1tiug pressure.