The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1907-04-23
LOCAL FINANCIAL GOSSIP.

The week opened with a moderate de-
gree OF business on the Washington Stock
Exchange. The feature OF the day was
trading in Washington Railway and Elec-
trio Is. n.o0O Of them going on record
from 1875 down 70 1875. There was also
a strong demand for Washington Gas GER
nheates and Gas a. Indeed 1t was a bond
day. the trading in stock being almost
Insignificant.
When the call on Washington Gas was
reached there was bidding from all parts
of the room, and the demand was taken
up again after caH Though good prices
were bid, some Of them higher than the
quotations. none of the stock came out,
except 80 shares at 80. ana the brokers
were forced to content themselves with
such options as could be obtained. 1t is
evident that the wise ones expect a rise
in Gas.
The faces Of many OF the brokers were
wreathed in smiles at the better news
that came over the wires from New York.
Opinions on the New York Market.
Herbert /. Jones. Of Charles q. Gates
& Co.-'As expected, a resumption in
activity and an increased volume have
brought higher prices. Il is altogether
probable it viii be carried farther. Good
dividend paying stocks should be bought
on fair declines. but on the sharp rallies
profits should be taken. The market still
is very largely professional
5. B0wies Chapman. Of E. r. Chapman &
Co.-"The opening of the week showed an
increase in activity. both by the public and
the professional interests The first prices
were higher following the lead Of Lon
don. During the day the market I'M
proved gradually. and closed with a spr-
tied rally. Il was noticeable that no re-
action worthy of the name took place,
While large part Of the buying must be
attributed 10 short covering, at the same
line It must be admitted that inside in
terests were more aggressive IN aiding
the leading stocks 20 hold each advance,
Anticipation that the Presidents address
at the opening Of the jamestown EXPOSE
ton viii contain reassuring statements as
10 the attitude Of the administration to-
ward corporations did much 10 brighten
up matters hardly believe that the time
Is exactly right for very extended adj
vance. that IS. an advance without rea-
sOnable reactions Fer this reason I
think IL just az well to slip cut or long
stocks on such strong places as that which
developed IN to-days last half hour
benjamin Woodruff. OF Post & Flagg-
The market was more active to-day and
decidedly strong. Following up tbs i'm
prOvement of last week prices opened
firm, and showed steady Improvement
during the day Union Pacific. was spe-
cially strong; indeed. 1t has advanced over
s points since q week ago to-day AS IN
the case OF the end Of last week the mar
ket closed at the high figures. which is a
favorable sign; IN fact for some time past
efforts 10 depress the market have
brought out no new liquidation. while at
tempts 10 cover short contracts have
moved prices upward Under these con-
diticns IL IS felt that the market has been
sold 20 something OF a standstnl, and
/ there Is more disposition on the part OF
the traders to work on the other side for
turn. Such panic conditions as pre-
vailed in March overdid the merits Of the
situation, and It is natural that decided
/ recovery should take place from the low
prices. However, at this season OF the
year. and with the many scars left by
I the slashes in March, 81 is hardly 10 be
/ expected that any extended upward
/ movement can develop for the present
/ but it looks 10 me as IL the best trading
profits would be made on purchases on
/ reactions during the next few weeks"