The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1907-08-06
LOCAL FINANCIAL GOSSIP.

Trading, particularly IN the stock list
line. at the Washington Stock Exchange
yesterday. was one of the lightest on rec
ord. The bond call resulted In a fairly
good showing, the demand being sufti-
cient to take up 1850 divided into four
different series. Capital Traction and
Washington Railway companies being
most sought after.
Very little was done in Gas stock, with
| prices erTatic.
The one strong feature was Mergen-
thaler, bringing 80 for a fractional lot
with continuing bid at the same level.
Opinions on the New York Market.
G. Bowie Chapman, of e. r. Chapman q
| Co.-'ro-day's market was almost en-
tirely a question Of the first and last
hours, at which times the market showed
its only activity The first prices were
lower and the decline continued until
about II o'clock, from which hour until
, lower prices prevailed. the market was
Stagnant ana failed 10 rally AT ? o'clock
more aggressive pressure was renewed.
transactions became larger and in the
last fifteen minutes prices gave way rap
idly The closings are from points
lower. All day long pressure continued
on SHELTERS and Copper Next the Hill
! stocks felt IT, then the United States Steel
common, and the minor indus trials. Read
ing. and last, but most OF all, Union Pa
cifc. which broke through ~ in the final
| Few minutes The decision against the
standard OH Company was naturally the
center Of discussion. and while it is. OF
course. admitted that suit is far from its
unal adjustment. al the same time its eff
/ rect Is anything but reaSsuring. A care
! iul observation Of tO-day's market can
lead 70 no conclusions other than that
proper support is not being extended. and
/ that FOR the tine being at least the pow
erful bear party which has existed here
Tor some time are being allowed to have
their own way, and IL must be admitted
that they are much helped by conditions
and happenings. We expect 10 see the
leading stocks sell lower. may be consid-
/ eraoly, so far as certain issues are con-
cerned. before any particular improve
ment takes place"
Benjamin Woodruff. Of Post & FIagg-
The market went through most OF The
session to-day liStlessly and without fea-
ture IL opened ar slight recession. and
hung there. with little variation. until the
last hour Of trading. when a renewed
drive marked prices down sharply In the
absence of any news for the day, discus
sion continues 10 be confined chiefly 10
/ the unfavorable factors in the situation.
Z Ffan Fhf.. frsfEr.
ness OF time money and the anti-corpora-
ton spirit, which.is exenpliGed In such a
fine as that imposed in the Standard OH
case While an incident Of this kind, and
also such procedures as have recently oc-
CURED in North Carolina and Alabama.
may not IN themselves be Of great i'm
portance, and may or may not he re-
versed on appeal TO higher courts. they
show a spirit ia the country which tends
to alarm capital. which Of necessity must
largely find investment in corporation Sc
curities. Prices are getting down to pref
ty low figures again. and although there
are no prospects of an immediate rally. AZ
this rate the market viii before long be
come cversold. as it was IN July"
z. W. Crew. Of Henry Clews & Co
I To-day being a holiday in London. there
are no quotations from the other side in
dicatlng how the decision against the
Standard oil Company is considered
abroad With existing conditions there
can be no more than ftful rallies due 10
short covering. With the activity shown
| by the Federal authorities against the
/ railroad and industrial combinations. one
must. indeed, be born optimistic 70 expect
/ the market 20 go up TO any extent The
outlook for money is decidedly unfavor-
/ able. Therefore. I believe it IS good
policy 10 take advantage OF all rallies "a
sell stocks"
George L Edmunds. Of A. o. Brown &
/ Co.-'There was no other news Of inau-
ence to-day. aside from Judge Lands
decision in the Standard OIL case: and
nothing further in sight az present which
/ is likely 10 disturb values. The market
/ appears - be very much oversold. and il
looks safe 10 buy the high-grade stocks
around present prices"