The Washington herald., 1907-02-19
Opinions ON the New York Market.

S. Fl. Agnew. Of Henry Clews & Co
London was a good buyer Of American
securities. and marked prices up before
our opening. The high Quotations abroad
were followed BY London cabling some
| buying orders 10 this side Commission
houses bought to a moderate extent in
the early morning hours. Then the mar
ket began to show its professional char
acter- The Pennsylvania Railroad Com
pany placed eco equipment notes
/ IN Paris. and the probability OF the Aid
rich currency bill becoming a law within
ten days are both looked upon as favor
able factors, but I'm the absence Of inside
support II was an easy matter for the
professionals to mark prices down The
banks have lost 10 the subtreasurv since
Friday $4,000. The floor traders were
pronounced in their talk against the ac-
ton OF the Pennsylvania Company. So
far as placing their notes abroad IS CON
cerned that is admitted Ia be very good
business. rs il brings new money i. 20
this country. but II IS contended that the
piling I'D of such enormous debt is Of il.
self bad feature. The market. sold of
during the afternoon. and had a feeble
rally just before the close
Benjamin Woodruff. Of Post & FIacg-
The market was decidedly disappointing
to the bull interests. for. with the IikeH-
hood Of the passage Of the present cur
rency bill apparently undiminished we
have had quite a smart reaction from the
high figures. II takes very little these
days to start bearish sentiment. and to-
days moderate reaction brought out
much bear talk again Rumors of new
note issues By various companies and snx-
tety over the outcome OF the Hartman
investigation. &c. were freely circulated
This Is all very well rs far as il goes. and
/ have no doubt that probing into the
Hartman properties Will cause uRcasi-
ness, but it seems to me that pending
the passage Ct the currency measure. The
market is apt 10 stay fairly strong II a
sharp rally from the present level of
prices comes l believe the market would
be a sale
@ Bowie Chapman. Of F. r. Chapman
& Co.-"Prices opened fairly steady. and
for a time showed some disposition tC
rally. Very soon selling movement set
in, which increased in volume during the
afternoon. 50 much so that the finals show
losses ranging from ] 20 ~ per cent. Il
Is Boticeable that offerings were light on
the decline. and That there was good buy
ing Ia many issues. The trading tendency
continues. and Il would not be- surprising
II for the next day or two the market
should prove feverish and Irregular"
G.. l.. Edmunds OF Dick Bros & Co.
After a slightly better opening, st. Paul.
Reading. Shelters. and Anaconda made
some good advances but trading was in
very light volume. and after the noon hour
prices began 10 sag The rumoa was cir
culated that Reading Was about 10 make
a large note issue IN Paris. bat It was
officially denied. The stock continued
weak. closing OF about ~ per cent. In
the late trading the market enjoyed a
fractional rally from us low point Trad
ing was 0nly moderately active at the
close. / consider this slight decline that
tie market to-day exhibited as simply
technical, and believe iu the long side OF
the market for the long haul
Herbert L. Jones, Of Charles c. Gates
& Co.-"The market is almost entirely
professional Floor traders TUNED on the
market, ard with the aid of rumors OF
money 1urries depressed prices. There
may be further declines, but they VIII
probably not be OF consequence. and these
reactions are more healthfuI than other
wise. on any further declines stocks
should be bought.