The Washington herald., 1907-05-08
LOCAL FINANCIAL GOSSIP.

Capital Traction IS were again on tap
yesterday at the Washington Stock Ex-
change. and those disposed to buy could
have all they wanted at l0l15, though the
price went a fraction higher and wayered
a little at times The brokers evidently
had made up their minds that the price
named was the correct figure. and buyer
and seller came together Often-so often,
in fact. that a halt had to be called two
or three times to allow the secretary time
to fix the record.
Washington Railway Is were also in
good demand. all sales being recorded at
sea. The common stock Of this company
grsvitated between 3S1a and S9is. but only
a small lot of stock was sold. The pre-
ferred stock was shaved down a fraction
from the prices Of day or so ago.
Washington Gas was marked down be-
low 81 yesterday, and Immediately talk
was created about the gas pool" so
called. which bulled the price up to g.
last week.
After call Mitchell Mining came in for
some trading at ~. The stock seemed
scarce. and some Of the wise ones declare
rise Is due in il.
Opinions on the New York Market.
Herbert L. Jones. of A. o. Brown & Co.
Prices are likely to sag lower pending
the publication of the government crop
report on Friday. IL Is evident that its
cOnteuts are being discounted, as every
body expects an unfavorable showing. On
the substantial declines stocks may be
bought for "a turn"
]. b. Weed, Of Dick Brothers & Co
THE market opened irregular and.
though it improved during the hrst few
minutes. the rally was not sustained, and
traders were active on the bear side,
Union Pacific. Shelters. and St Paul
suffered the largest decline. the former
showing considerable pressure at times.
A very firm wheat market had unset
tling effect upon sentiment In the after
noon the market was inclined to improve,
though trading was only moderately
active. Prices at the close showed a gain
/ IN the active list Of more than a point
from the low prices Of the day"
Benjamin Woodruff. Of Post & Flagg-
''To-day's market had a decidedly bearish
tendency II looked as If most Of the sell
ing was by the same old bear crowd that
made SO much money on the short side
I two or three months ago. At any rate,
/ the brokers employed in selling stocks to-
/ day are the same as We're used on the
/ former occa sion, and believe the short
/ interest has materially increased to-day
and yesterday. This selling Is based upon
I unfavorabie news. the unsatisfactory way
I in which money is working, and on the
/ poor net returns reported by several OF
! our prominent railway systems. The rail-
I traffic continues SO heavy that they are
unable 20 handle IL scientifically and
/ economically. and 10 do this requires the
/ expenditure of further large sums Of
money Unfortunately. owing 10 the an
/ taEoulsm of State legislatures under the
initiative OF our Chief Executive the
/ credit of the railroads is greatly impaired
and they are al present una ble 10 raise
( this new capital. except by issuing short
4 term obligations upon Onerous interest
/ charges. The talk of crop damage is un-
/ doubtediy much exaggerated. although
. Ihe season Is late and some damage has
resulted. but the difficulty regarding tbs
railways IS the evident and an actua
[ condition. The present range Of prices
I discounts a great deal OF trouble. and
see no reason for the indiscrimiuate
/ throwing over OF securities at the present
level"