The Washington herald., 1907-04-11
LOCAL FINANCIAL GOSSIP.


thaler to Washington Railway common,
which sold 565 shares at 90, and 2e9 more
on options at quarter Of point better
The cali for the stock was much better
than the supply and at one time a large
block of it could have been sold At better
figures. The preferred stock dragged, and
only 100 shares could be found which solo
at 500.
Washington Gas advanced a fraction in
price, and the call for it was much
larger than brokers having the stock for
sale could hil.
other trading was very small. and in
number Of Instances both bid and offered
prices were wiped from the board Realty
Appraisal Agency stock. which has for
long time been inactive, was removed
from the call list at the direction OF tie
governing committee.
Opinions on the New York Market.
G. J.. Ednunds. of Dick Bros. Co.-"The
stock market opened higher, though only
moderately active. After some irregu-
larity during the first hour, prices began
to improve, and this tendency continued
up to the noon hour, with speeialties
showing considerable prominence After
the neon hour the market became reae-
tioRary 0a renewed weakness in Southern
Railway and the Eries, and in the ABB
sence of important buying orders prices
sold off easily. The buying of stocks on
reactions such as that of to-day should
show quick profits TO the cautious trader.
Herbert L. Jones' Of Charles g. Gates
q Co.-'Bear raiding, pure and simple
caused the decline Good dividend-paying
stocks are a purchase at this level
Benjamin Woodruff, Of Post & Flagg-
THE market showed "a decided reaction
airy tendency The advance in the past
week was very sharp. and a moderate
reaction was in order. I look upon the
present movement as such decline and
nothing more. Probably by tomorrow. if
prices continue soft again, stocks will be
"a purchase for a turn, as it looks ike
gradually narrowing of fluctuations and "A
decreased volume of Business. Money
STAYS easy and the much-talked-Of Har-
riman investigation will not apparently
be resumed for some little time, for it is
stated that the commissions application
20 the court for an order TO compel Mr..
Hartman 10 answer viii not be filed
even for three weeks, and then doubtless
much more time will be consumed in pre-
pairing an answer in behalf of the de
fendant and other legal duibbles before
the matter really comes TO head It
/ looks 20 me as if yesterday aud to-day
there had been quite a little short selling
/ Of stocks 10y the bear party. which has
recently been SO successful, and who
are prepared to put out stocks freely
whenever it looks as If anywhere near
/ top had been reached in the quotations.
1 believe the situation is an excellent one
1 for trading operations where stocks can
/ be sold on all strong spots and bought
I back on recessipns in price
! g. Bowie Chipman, Of r. r. Chapman
& Co.-"Prices during the first part Of to-
days session made some show Of
strength, which eliminated in a slight
rally upon the publication Of the govern
ment crop report which showed the con-
dition Of winter wheat on April as Ss.s
/ against SCI last year and Sal in 1866
/ From noon on the market reacted. infiu-
| enced much by further weakness in the
/ Southern Railway stocks and Eries, all
! though most of the old leaders seemed
TO be under pressure. The closing was as
/ a general thing at almost the lowest for
4 the day For the past few days the mar
I ket has been almost entirely a proles-
slonal trading affair with d decided ten
deucy 70 sell of after each rally, and
! while many conditions show improve
/ ment. il must be admitted that the
/ leading securities do not show proper
strength. ] would much prefer the selling
side whenever the rallies present the
! opportunity"
/ s r. Agnew, of Henry Clews & Co
! Outside of the market being largely pro.
/ fessional, the weakness this afternoon W.,
more directly caused by the cut in cop
per metal quotations. rather than from
any other cause. The uncertainty regard
! ing the dividends ON Southern Railway
preferred and Erie preferred stocks is aisC
! hanging as a cloud over the market. Not
withstanding the denials that the Della
ware and Hudson Company is in need o
| funds, it is known that it has an issue o
notes falling due on May !. which were
given 70 Moore x Jones for the purchas,
of the Hudson Valley Railway securities
/ 1t is understood that negotiations ar,
about completed for a new issue of $1,000
090 notes. on more favorable terms thar
those recently obtained by other corpora
I tions The president Of the company is "a
present abroad, and il is thought that
/ large proportion of the notes may b'
placed there. There was d vigorous re
newai of bear tactics, in an attempt q
break the market in tO-day's trading, bu
the effort showed that stocks are now il
strong hands The large interests now de
/ sire TO inaugurate a bull campaign, an,
they believe that stocks are not too higi
at going prices, especially with existins
/ money conditions. and it is their purpos,
not TO allow professional traders Il
bring about anything approaching de
meralzati0u ] am still of the opinion
that stocks are a purchase on any de
cline for quick profits -