The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1907-01-05


Stock Exchange centered largely in rail-
way shares and bonds and in Washing
ton Gas Is The business Of the session
was fairly well scattered, and price
changes were not many or significant
Several trades were made in Washing
ton Railway and Electric is, from s. IL
down 10 IA These trades We're followed
on the next call by the sale Of 5000 Tele-
phone 5s after which the attention of the
brokers rested for a time on the railway
shares
Capital Traction sold a four-share lot
At III but the principal business in this
stock was in small lots down to l43. After
this sale was recorded it was announced
by one Of the brokers that he had 100
shares which must be sold and it was
bid in at 143, a self-to-self sale. The stock
was then put on the board at l43 bid and
IA asked
Washington Railway and Electric com
mon brought out some good business at
Il and a fraction lower
Mining shares were almost entirely neg
lected.
Opinions ON the New York Market.
Thomas /. Hume, president Of the
Washington Stock Exchange-The mar
ket exhibited much more checrfUlness
and buOyancy, occasioned by the re-
ducton in the rates for money. The
strength at the close. and the eager de-
further advance, but the condition Of the
money market IS not set such as to jus
tify continued bull campaign. Until a
nominal rate for money becomes per-
marcntly assured, commitments on the
long side should be made with caution"
Herbert L. Jones. Of Charles @. Gates
* Co.-"The market made a substantial
advance, and the feeling is distinctly bet
ter On any further substantial rally
profits should be taken. / believe good
stocks a purchase on all declines. The
best feature of the situation is the easing
Of time money rates. High prices were
made largely on short covering. and there
is as yet no considerable amount Of rein
vestment, OF outside buying. When this
sets in in earnest and bellted bears start
to cover some of the immense short lines
still Outstanding. you will see a genuine
bull market Of great proportions
s II. Agnew. OF Henry Clews & Co.
"The better look Of the money situation
induced some good Investment buying
The bull cliques were encouraged TO bid
up their specialties. and altogether there
was a better feeling in Wall street
Money is now returning from the interior
in large amounts. and the money situation
abroad is becoming easier. Copper was
marked up several points. and closed al
the highest for the day ON reports Of an
Increase 10 be made IN the dividend to 10
per cent American Shelters also closed
at the highest II looked, ia the afternoon
trading, as though a good 0ld-fashioned
bull campaign had set i'm. II the bank
statement proves 20 be as favorable. I look
for good advance IN prices next week.
G. Bowie Chapman, of L. R Chapman &
Co.-"From the beginning Of the session
the leaders. especially those recently under
pressure, showed great confidence and
bOuyancy measurable only by their recent
lack OF the same. The sensation Of the
day might be named as AmaIgamated
Copper. which. under large volume OF
business, advanced 10 price higher than
for many months. The recovery from the
depression Of Wednesday and Thursday.
and the change from pessimism 20 opti-
mism, is another example Of how quickly
and how radically the current Of feeling
in Wall street can reverse itself Al the
same time The market has been a little
swift and some settling back would not
be surprising.