The Washington herald., 1907-07-04
LOCAL FINANCIAL GOSSIP.

LOCAL FINANCIAL GOSSIP.
The local Stock Exchange yesterday
presented a decidedly antl-holiday ap-
pearance. Many brokers we're absent,
several more dropped in for a few min
utes and went out, and the remainder
were listless, except a few who were in
terested in buying and selling mining
shares
An impression is prevailing that rise
Is due in the mining shares, and yester-
day Greene Cananea came out pretty
strong at 16 "a, with an option on 100
shares at II. Mitchell Mining. which, on
this exchange has been hammered about
from pillar TO post, sold on regular call
at rs and after call the stock was bid
up TO 3 Is, where two sales OF 100 shares
each were placed on the record.
The Washington Stock Exchange will
be closed to-day, open tomorrow. and
closed again on Saturday.
Opinions on the New York Market.
Benjamin Woodruff. or Post & FlagG.-
'To-day's market showed surprising
strength, and was encouraging to those
who have been looking for higher prices.
Despite the unfavorable cotton crop re-
port and low bank reserves, the market
maintained the advance of the past week.
Inquiry develops the report of some good
investment buying but the opinion seems
to be that the recent advance has been
due more to the technically oversold con-
dition Of the market than 70 any other
cause. When prices resisted the heavy
gold export movement 1t became appar-
ent that stocka were scarce, and some
manipulation FOR an advance caused
much short covering, and gave the mar
ket a better tone. The quotation 10
which Standard stocks had declined IN
recent months afforded an investment
basis rarely witnessed in Wall street, but
there We're so many pessimistlc elements
in the situation that prices drifted along
on this low level with little apparent in
ciinatiOn to take advantage Of them. In
. tlt past Wtth an fllD4 " lt1 l4ittAf W SNs 20
some Improvement could not be brought
about from the low level. and prices re-
spOnded in a very encouraging way. II
does not seem probable, however, that az
this season Of the year any attempt will
be made 70 engineer an extended rise in
the market"
f. ". Crew, OF Henry Clews & Co
Cd.
ment may have made in regard 10 hosting
prices. their ideas have had 20 undergo
some revision, owing to the renewed eX-
ports Of gold and the dcplorable cotton
report issued by the government Most
people have been under the impression
that the weather during the past month
had been very favorable for all growing
crops. consequently the low condition Of
cotton has fostered the idea that the agTi-
cultural report on grains. 90 De issued
one week from to-day viii also be disap-
pointing AS far as outside business g
concerned. "A lack Of interest IS clearly
discerned. and when professionals take
rest there is nothing doing"
u Bowie Chipmon, OF E. r. Chapman
& Cot was not until the latter part
Of the session that to-days market threw
of its anti-holiday aspect and took de-
cided tone After opening quietly. hesita-
ton was shown and prices yielded frac-
tionally. During the middle Of the day The
market was dull To begin during the aft
eruoon a gradual improvement which
eliminated IN a rather peculiar movement
that is. up % about 2.50 o'clock. the mar
ket was strong, under short covering sud
denly l.Cuidatiug sales We're met. and the
leaders declined quite rapidly. The closing
was considerably better than last nights