The Washington herald., 1907-04-04

q. Bowie Chapman Of T.. r Chapman
& Goa bout the same tactics continued
Ia to-day's session Al the same time il
was more noticeable that there was
some increase in the pressure and that I'm
spite of frequent rallies the tendency Of
the market continued downward rather
than toward improvement The final
prices Of most all the active issues show
losses. Reading and Brooklyn Rapid
Transit made gains The anticipated ae-
ton Of the Atchison board of directors in
placing the stock upon "a g per cent basis
materialized in such a declaration. which
fell fiat. the stock selling on as soon as
the announcement was made. At present
there are a number OF items. which,
while not necessarily ,beaTish. might cas-
ily and quickly become so in their effect.
such as the Western railway labor situ-
alton, the resumption OF the Interstate
Commerce Commission inquiry. the par
tial elimination of tine short interest. the
possibilities OF the controversy between
the President and the head Of the HaTri-
man interests. and IN view of these, with
the evidence of inside selling, my opinion
would Doe that. wisile the market may
experience some further rallies the tone
seems 90 be downward. and this must be
borne ia mind when trading for turns"
Herbert L. Jones. of Charles G. Gates
& Co.-'-The Atchison dividend increase,
as well as the initial dividend on Kansas
City Southern preferred, are favorable
factors. Since the real slump days in-
itial dividends have been declared on a
number Of issues. notably Toledo. ST. Louis
and Western preferred. United States
Realty. Kansas city Southern preferred.
and others. Dividends have been in
creased on Atchison. Disullers Peoples
Gas. National Biscuit. and others. II is
rot improbable that the United states
Steel Corporation may increase the com
mon dividend, and other rewards are
doubtless In store for investors. stocks
are "a purchase on declines. but for the
present no great activity is expected"
j. b. Weed, Of Dick Brothers & Co
After lower London our market opened
somewhat lower and stocks were irregu-
lar during the first half hour, when the
general market reacted. The Western
and Northwestern railroads showed ;he
greatest declines. Around the noon hour
the market became quiet. The increase
in Atchison failed TO have any marked in
fiuence and appeared 10 be more or less
discounted. Some short covering during
the afternoon caused stocks to recover
sharply. Reading and Baltimore and Ohio
showing much strength, each advancing
g points. The close was irregular
though most stocks maintained the
larger part Of their rallies. There seems
10 be a generally good undertone to the
market. The weakness Of Copper to-day
was the only really bad feature Of the
days trading.
BENJAMIN Woodruff, of Post < Flagg-
"To-day's market was largely professional
Prices opened lower, following the lead
OF London, and later became generally
weak with an especially sharp recession
T in Union Pacific. the selling OF which was
/ influenced by the controversy going en- be-
( tween Mr.. Hartman and President R9ose-
velt / do not think that this selling
I brought out much long stock. and in the
afternoon, when she bears commenced 10
cover. the market rallied easily. The strike
situation IN Chicago still seems TO be per
picking. but matters must shortly come 10
n head. one way OF the other. Unless
some unfavurabIe circumstance occurs it
would seem as Il liquidation had been
pretty well completed. and as I believe.
there is still a large short interest, il
would not be difficult matter TO have a
considerable rally in prices"