The Washington herald., 1907-01-10
mons on the New York Market.

stock went on the record az 600. the high
est price ever paid for that security
Opinions on the New York Market.
S H. Agnew. of Henry Clews & Co
The market was almost without feature.
number of commission houses executed
large orders on the selling side in South
ern Railway common and preferred. and
in the absence of any definite information.
the report is still that the holdings of the
late Samuel Spencer are being iiquidated.
While many Of the transactions recorded
are for professionals. the character Of the
selling shows that long stock has come
out freely during the last two days. This
is due 10 unsatisfactory money conditions.
January has. however, always been known
as a selling month for the insiders. Com
mission house business is said 10 be quiet,
as conservative houses 90 not care TO rec
ommend the purchase Of stocks until there
is rift in the money clouds.
Thomas L. Hume. president Of the
Washington Stock Exchange-"1'he mar
ket displayed neither snap nor animation,
nor offered encouragement for commit
ments on either side. There was little ev-
idence Of either accumulation or distribu-
ton. trading being narrow and wholly
professional. Money relaxed materially ar
the close. which gives promise Of tenn
porary advance but under prevailing con-
dtions any vigorous effort to buH stocks
would be artificial and might provoke eX-
aggerated disaster"
George J.. Edmunds. of Dick Brothers
& CO.-"I look for a considerably higher
opening Of our market in the morning.
and likely a display Of marked strength
throughout the list Purchasers Cf stock
on the dip Of yesterday and Monday
would do well 10 take profits on any ret-
sOBable advances above current prices.
/ do not lock for a runaway bull mar
ket. but believe as ] have previously eN-
pressed that the market can be bought
on any recession. and will work materially
higher before February L.
Herbert L. Jones. Of Charles G Gates
d Co.-'I believe good stocks-particu-
larly the metal issues-a purchase on all
declines As money works more plentiful
and wildly sensa tional rumOrs are proved
not only untrue but entirely without
basis. confidence will return and prices
advance When all conditions are right
We will see a tremendous bull market.
a market I'm which reactions should be
taken advantage Cf for conservative pur-
chases. and fair profits should Dc taken
on substantial rallies
G. Bowie Chapman. Of r. r. Chap
man & misunderstanding several
perious Of hesitation the active stocks
gained some ground. There seemed 10 be.
on The other hand. some liquidation in
preferred issues under which Southern
Railway preferred suffered the most. The
money market failed 90 show any ease
mcnt. the renewing rate for call loans
being S per cent As dealings continued
very largely professional the market
naturally again becomes a trading affair.
The support which the active stocks are
given Is on the decline. and is free from
any effort 70 advance prices. This will
probably continue for day OF two or
until the actual condition of the local
banks is more thoroughly understood"
benjamin Woodruff Of Post & Flagg-
.1'he market has been a dun and Hstless
affair. with little interest 90 break the
monotony. Professional operators fur
nished the bulk Of the business. and price
changes moved first in one direction and
then in tEe other. The higher rates for
call money seem to nave effectuauy
checked bullish enthusiasm. and the
fact that many short contracts have been
covered In the past seven days mas re-
dUceI the buying demand for stocks
Prices generally are higher, having picked
up quite q little toward the elise. it looks
as If money ought 60 work easier and that
consequently we should have a somewhat
higher range Of prices in the next few
days