The Washington herald., 1907-10-25

Outside Of some spirited trading in
Capital Traction bonds, there was little
business yesterday on the Washington
stock Exchange. Trading was only in
spots and in small volume The simple
truth is there is no incentive to buy
stocks except the fair bargains al which
some Of them are quoted, but this is
more than overcome by the impression
that IL is not good time to load up
much with long stock. The result is, the
brokers do not venture beyond the small
orders they may have to fill day by day.
The transactions yesterday were $lz,500
in bonds and 327 shares Of stock, Of which
200 We're Mitchell Mining and 100 Peoples
Fire Insurance.
Bonds Selling Well.
There is a rather urgent demand for
bonds on the part OF d few brokers.
especially In Capital Traction IS, and
large blocks OF them. bought at lower
ngures some months ago, are regularly
fed out on the exchange to those who
want them now apparently Tor invest
ment purposes. They sold yesterday,
&l0,5o0 OF them, at 1l3i4 down TO a. Along
with the call for the Traction bonds sew
eral investors are picking up some Of the
other railroad bonds, yesterday 5000 in
Columbia Railroad IS being taken at ll2
This trading in bonds from day to day
gives a healthy activity to the local mar
ket and shows the confidence of we'll
to-dO persons in the bonds Of the Wash
ington corporations. It also shows up
well in comparison with the general sus-
plciOn regarding similar securities in 9th
er cities, which In recent months have
fallen in price. some OF them 10 almost
ridiculously low figures.
MergenthaIer Loses Point.
Mergenthaler stock yesterday lost one
point on the selling price as compared
with the previous day. Lanston was neg
lec;ed, no price being offered for the
stock II IS understood that the dividend.
which has been paid in the past on No
vember J. will be passed this year. as no
announcement OF the declaration Of such
dividend has as yet been made. This ac-
counts for the recent decline in the
stock and the apathy with which it is
considered by brokers.
Ii was expected that there would De
something doing in Mitchell Mining yes
terday. and one Of the largest crowds
/ ever assembled outside tie rail al the
exchange was present. There was an idea
on the street that large blocks Of the
stock would De offered for sale, as re-
suit Of the meeting the previous night
In the expectation everybody was dis
appointed A few brokers called for the
stock at low figures. but there was none
for sale except one lot of 25J shares,
which sold az IS. q fraction above the
price Of the previous day
Think the Crisis Past.
Interest in the situation IN New York
continued yesterday. but il was recog-
n!zed that the danger point had been
passed. or al least ii so seemed at this
distance from the scene Of action, and
Washington fnanciers were in a hopeful
mood. II is the general sentiment here
that the troubles IN Wall street viii right
themselves within a few DAYS and that
prices Of securities Will probably recover
some Of the ground lost in the recent
slump.
This fact was abundantly proved yes
terday 10y the filing OF orders to buy
stocks IN a number of the local Offices
It is a fact also that Washingtonians are
protecting their margins, and so far as is
known no one here had been seriously
pinched in the fail Of prices in New York
4 good many sold on the bulges several
days ago and were not in the market last
Monday. This leaves the situation pretty
clear SO far as Washington is concerned.
and there was far less anxiety expressed
I yesterday than would naturally be ex-
peCted under the circumstances