The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1907-02-17
LOCAL FINANCIAL GOSSIP.

LOSfAL llNfAIF0l1L OOOOAA
Mergenthaler was the strongest stock
on the Washington Exchange yesterday.
selling in quotation lots up to 3i5s, about
two points above the price of the previous
day One share Of the stock sold at 305,
the high st price paid for il in many
months. Those IN "a position TO know are
reticent as TO the cause of the recent
rise In this stock from less than 20, but
the impression Is that some deal is Oh
which VIII change existing conditions Of
the corporation and perhaps lead to
new issue Of stock. following the lead Of
most of the large and wealthy corpora
tioHs.
Good trading was recorded IN Railway
bonds, Gas as and Potomac Electric
Light. 5000 of these bonds selling at
good figures.
Mitchell Mining was in strong demand
on the regular call and in the general
trading after call Trades in this stock
aggregated 80 shares. nearly all at 81
Bank shares were not so much in evil
dence as on Friday. though quotation lots
Of the Bank Of Washington sold "a 6N g.
Opinions on the New York Market.
J. 3. Weed. of Dick Bros. IL Co-"After
little activity az the opening. I'm which
o. few stocks moved up fractionaIly. the
general list lapsed into dullness, and pro-
fessionaI 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 to stimulate much buying. The
close was firm, with prices around the
best. though trading was very quiet
believe that a firm adherence TO the buu
side Of this market viii prove highly
profitable 90 the conservative trader
within the next six weeks The buying
looks to be superior TO the selling
Herbert L. Jones of Charles G. Gates
& Co-"Thc 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
to the passage of the Aldrich financial
bin in the Senate on Monday. This viii
n
market. and to the commercial and in
dustTial interests throughout the nation.
Benjamin Woodruff. of Post & FIagg-
There was very little doing, but the tone
was strong throughout The bank state
ment proved 10 be better than expected.
the favorable feature being a decrease in
loans in spite of the known large fiota-
tons made lately.
7 am assured that the Aldrich currency
bin Is going to pass early next week, and
there is little doubt that this belief is re-
sponsible in a 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 investigation would
then bee the paramount issue Closing
prices Were at the high point of the day
moving 80 in the last five minutes quite
rapidly. ~
G. Bowie Chapman. of T. r. Chapman &
Co.--"Prices We're strong, although the
leaders failed TO open at the London
level During the final few minutes the
market was spirited and advanced ma
terially. the last prices being gratifying to
the advocates of a higher level. Indica-
tons would point to a continuation of this
movement during the first 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 Z think the market viii be
very much better next week
s H. Agnew. Of Henry CleWs & CO..
'The market was strong and gave evil
dences Of good buying. A somewhat I'M
favorable bank statement was looked for
and il proved 10 be the reverse. The
items Of 100000 decrease in loans, $1,000
900 increase in surplus reserve and only
$1,000. 600 decrease in cash. was considered
favorable The placing of so 100000 OF
bonds by the New York, New Haven and
Hartford Railway Company in European
markets, on what are considered good
terms. cannot be overlooked as an impor-
tant factor i'm the stock market The
issuance of large quantities Of bonds and
notes has heretofore been classed as I'M
favorable to the money market, as IL
absorbed large sums of money needed in
the street The reverse is the case in
placing bonds abroad. which brings new
money here. Ii is also stated that "A pOT
ton OF the SWVJV,uvJ hoteS VI the tiitei
borough Company will also find their way
across the Atlantic. The Japanese ques-
tion seems to be nearing a settlement, and
ii is quite probable that the currency bill
win be taken up by the Senate on Mon
day. It is also stated that Secretary
Shaw viii not recall the 600 special
deposits from the national banks, but viii
leave it for Secretary Cortelyou to act
upon. All the foregoing are favorable
and important factors in determining the
value Of stocks, AID coming in a bunch
as they do, should have a very favorable
effect upon prices next week. l look for
. strong and advancing market from the
opening on Monday