The Washington herald., 1907-03-29
LOCAL FINANCIAL GOSSIP.

Business yesterday on the Washington
Stock Exchange was strictly ente-holiday
trading. Il was limited lto four sales on
regular call and six after ean. Nothing
significant appeared ia any of II.
The Washington exchange viii remain
closed to-day and tomorrow on account
Of the approach of Easter. The adjourn
ment over to-day IS a departure from
the action of the New York Stock Ex-
change, which will be open. The cotton
! exchanges In New York and New orleans
viii be closed. as will the Chicago Board
I OF Trade and the grain exchanges gener-
ally throughout the country.
Opinions ON the New York Market.
q, Bowie chipman. OF E. R. Chapman
& Co.-"After the opening drive and a
quick rally, which took place during the
hrst hour. the market became quiet and
showed great lack Of animation untn
the final fifteen minutes Then some
stocks rallied and others sagged, but the
closing level IS higher than last nights.
Great Northern preferred being the ex-
ceDtion, selling on on the news that the
Supreme Court OF Minnesota had dis
solved the Injunction restraining the COM
pany from issuing S60O00,0o0 new stock.
Ihe general market continues its waiting
attitude and is subject TO drives by the
bear party in their endeavor 10 start
prices downward again They find little
stock dislodged for the reason thar the
ilqmdauOa has been so thorough that
stocks are now held by investors WIN
would not be forced to sell except on a 1
great decline The bears then ind il hard
70 cover. and naturally hesitate to put
OUT any large lines. not seeing their way
clear 30 cover to advantage The bujl
party, on the other hand. seem either
unable or unwilling 10 advance prices
beyond a certain point, and these up and
down tactics win doubtless continue until
some news is received Of sufficient i'm
porutnce 10 cause a decided tone In senu-
ment"
Benjamin Woodruff. Of Post & Flagg-
After a day Of unevenesst and varied
fluctuations the market closed higher
than last night The short interest is
stubborn and fights every attempt to
rally prices Selling OF this character is
especially noticeable in Union Pacific. but
L looks as IL We were not going 20 get
further liquidation. unless some new and
lnfavorable development should come
put. This does not mean. of course. thar
anticipate bull market-far from il
1at We should have steadier conditions
Hhich viii give people a chance TO get
heir bearings and draw breath before
starting a decided movement In either
Erection 1 believe the short interest is
sufficient TO make quite a rise if they
nee begin 10 cover IN earnest, especially
money works materially easier. as I
iope and expect it will After that we
.Fe sure 10 run into q dull period and bs
the doldrums for a time
;. n. Agnew, Of Henry Clews & Co
notwithstanding the announcement OF
he failure of the Corbin Banking Com
any. the market opened up fairly strong. {
nd continued 10 advance during the hrxt /.
our, after which there was slight re- !
ession. The undertone was exceedingly y
ood. and the closing prices were. In the
lain' considerably ABOVE those OF the !
revious day. The principal selling in ?
he early trading came from London and n
zeal commission houses. Traders took O
ne STOCKS 0Uered on the decision IN d
aVor of the Great Northern Railway 3
ot1pany that the con pany can Increase Z !.
s capital stock without the permission
{ the Minnesota coErts. Evidence is not .
.cking that the large inside interests I
re now not averse 10 taking stocks
ack on good raids, mainly TO prevent
generalization. While the underlying con =
uons are not materially changed. 10 =
e stocks would still appear to be saie 3
a all fair rallies. nevertheless. do not 81
1vise sale on bear raids. With so much c1
oney as will cCme into the market next q
eek III r~lyInenJ Of interest on bonds and g
vidends on stocks. prices should advance
aterially especially If the London set NJ
ement goes over without any serious G.
diures Until after Tuesday. I advise
.ution." la
Herbert /. Jones. Of Charles G. Gates :,
Coz verybody is thankful to see the ef
arket quiet down. On sharp rallies n
ocks are a sale. and they should be "a
'ught only on substantial declines.
oney market conditions should show -
aterial improvement with the turn of
e month" 41