The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1907-01-31
LOCAL FINANCIAL GOSSIP.

Bidding was active on the " dSillnBlO
Stock Exchange yesterday. but there was
little stock 10 be had in any Of the most
active issues, outside OF Mitchell Mining
In the regular call on the railway shares
and bonds numerous bids were made,
some tof them at fractlonally higher
prices; but those who have these securi-
ties decline TO part with them at the
prices offered, and President Hume WAS
obliged 10 pass one after another without
any business going on record.
The movement in Mitchell Mining, 50
active for several days past was re-
sUmed. and the brokers were not satisfied
when 1,450 shares had been sold, nearly
ali at rs and one l00-share lot at 6.
the highest price recorded during the
present year. Evidently a mild bull move
ment has started in this stock. and the
prophets are predicting all sorts OF high
figures for it within a month.
A good call developed during the call
on Mergenthaler, the price rising TO 200 on
one lot
Opinions on the New York Market.
s II. Agnew, OF Henry Clews d Co.
Another violent decline in prices took
place occasioned ny continued and forced
liquidation. The marked strength Of
Americans IN London was reflected 10
some extent N the opening here Gables
brought a number Of buying orders, based
on the idea that the steel report would
promote a better feeling Wall street
shorts also did some covering. but buying
of this character is not of sufficiently
substantial nature 10 sustain the higher
level Of prices There are many pool
holdings 20 be lquidated. The issuing Of
800 J4.010 Atchison bonds, convertible
into stock. IS not looked upon favOrably-
II is always an easy matter for the bears
90 mark down large issues. This is the
trouble with Pennsylvania al the present
time; the floating supply is large. I still
think the market "a sale on all fair
rallies"
benjamin Woodruff. Of Post & Flagg-
There is little TO say except the down
ward course Of the market There was
heavy liquidation and active bear mauipu-
laJion for the decline Prices were more
demoralizing jhau at any previous time
on the recent slump, and pessmism
operators are against the market and
they can force lower prices until they
find that stocks are being sold into a
bag and no more liquidation can be in
duced, and after the worst is over there
are apt 20 be releases from time 20 time,
and IL takes q long while Tor couva-
lesceuce. Il would seem as II rally
were long overdue. but Il has looked
thar way before when none ensued, and
persons who are bearing stocks are very
powerful and seem determined not 10
allow any material recovery"
G. Bowie Chapman Of +. r. Chapman
< Co.-'The course Of prices was a dupli-
cate of yesterday, with the difference of !
greater activity and more drastic changes. I
The market opened strong, and for two
hours gave signs Of Improvement With
the passing of the noon hour liquidation T.
broke out afresh and holdings in the best .
stocks on the list We're thrown on the
market almost regardless OF price. This /.
decline carried q majority Of the leaders I
and a great many Of the lower-priced +
railway stocks and indusjrials 10 lower /
levels than had been made on this move 4
nent There is no explanation for this .
last selling movement other than violent I
liquidation aided and abetted by short
selling.