The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1907-02-02
LOCAL FINANCIAL GOSSIP.

A genuine surprise was sprung on the
Washington Stock Exchange yesterday
when 50 shares of the stock OF the Ma
tiOnal Metropolitan Bank were placed
upon the market and all taken by one
broker at go The trading was in ten
share lots. and was effected about as
rapidly as the onering and acceptance
could be spoken.
Mitchell Mining was slightly stronger
than the previous day, the majority Of
trades being at ga Five hundred shares
went on the record
Washington Gas came out strong on
the regular call at 5S1s, and after call
many bids were registered, with 100 shares
selling up TO 5S]a.
4 moderate call for Mergenthaler de-
veloped on the regular call. the stock be-
ing supplied at 20OA down to zoo
Trading IN the Railway shares and
bonds was small. but the prices held Up
firmly to the figures of the previous day.
The United States Trust Company has
moved into It's new quarters on Four
tecnth street. between F and G streets,
and is preparing To receive the first pay
ments on the subscriptions TO its stoc.
Opinions ON the New York Market.
J. b. Weed, of Dick Brothers & Co
The market disappointed every one ny
turning weak again and breaking badly.
The break continued through four hours
and carried stocks down to about the low
level Of Thursday Reading and Shelters
and one or two others went lower than
before. The engagement Of $4,000 gold
for import was a favorable development.
Union Pacific and Southern Pacific put
out high favorable reports for December.
The markets late rally was another indi-
cation of an oversoid condition. particu-
larry In the popular shares Indications
point to a fairly good bank statement to-
morrow
G. Bowie Chapman, Of +. r. Chapman
q Co.-.'Tbe course Of prices was about
what had been expected. The opening
level was higher, and during the frst
hour this was improved upon slightly,
after which the market sagged quietly
but persistently until the low levels OF
yesterday morning were Appropriated.
During the last hour the market rallied
somewhat, but a comparison of the
changes from last nights closing Will
show more OF less material losses. For
the immediate future We expect about this
sort OF a market and one influenced al
most entirely by the attitude OF room
/ traders"
S. II. Agnew. Of Henry C1ews * Co
liquidation continues on all rallies.
| London sent over higher level Of prices
for American stocks this morning, but
there was a lack Of response here which
indicates the attitude of the important
/ interests on this side. showing conclu-
sively that there are plenty Of stocks for
sale whenever the market is strong Be
sides the character Of the buying is not
such as 10 inspire confidence in the belief
that the market has yet turned the corner.
/ After such a decline as has been eXper-
( fenced since January ]. reactions can al
ways be counted upon, but, unfortunately.
/ they are not Of a durable nature. / am
/ OF the opinion that the drift viii continue
downward until the liquidation is com
Ipleted. and the end Of liquidation is not
/ yet in sight
/ Benjamin Woodruff. OF Post & Flagg-
/ THE market was very unsettled and
feverish. but IL seems 10 me it has acted
/ fairly WELL all things considered. At tbs
/ beginning. prices from London came con-
siderably above parity, and London houses
/ bought between 5000 and 50,100 shares OF
stocks in our market This gave an OPP
pOrtunity 20 the people who bought stocks
At the low figures yesterday and the day
previous to Jet go part of what they took
! on and they sold in quite heavy volume
/ The bears. seeing this. started in with re-
newed vigoT and il looked toward
o'clock as If We would have another OF
those pluuging downward turns 90 which
we have become accustomed of late. In
the afternoon, however. the market rallied
/ Ia spite of heavy liquidation from one
/ particular source. The market is Tdllyinl
nicely. but the question is, VIII We get
sufficient rally 10 punish the prevailing
short interest and take away the sublim,
! confidence which now rules in the bear
camp? Until this is accomplished we can
not permanently establish any sort o
equilibrium i'm prices