The Washington herald., 1907-03-22
LOCAL FINANCIAL GOSSIP.

A St-5ng raid was made on WdSHitts tOh
Railway and Electric common yesterday
on the local stock exchange, nearly 1,o0o
shares OF the stock changing hands with
in few minutes The price held nrmly
for some time at s51s and after an option
at 36 was taken, holders of the stock as
sumed a little more nerve, and the price
was gradually pushed up to IS, and in
the after-call trading an offer was made
to take large block of the stock at the
top price This is taken to Indicate that
the selling of this stock for liquidation
purposes is about over, and that it may
be expected to advance within the aext
few days
The preferred stock was perged in the
| early trading at 80, and on the last ana
largest sale OF the day receded to 79sa-
National City Bank stock which has
been active for three 5r four days. came
out strong again, selling from IA to l4i5s.
Otherwise in the stocks enumerated
there was little business. though bid
ding was active for several issues of
the railroad bonds and some of the bank
shares.
Opinions on the New York Market.
S. II. Agnew. of Henry Ciews & CO.
Considerable buoyancy and good buying
We're evidenced in to-day's 3arket. al
though the volume Of business was smaller
than for any full day for months past
RumoTs Of trouble which have been over
hanging the market for the past week have
finally been set at rest. The expected
trouble has been averted. and this brought
In good deal of buying. and induced
shorts TO cover. The buying by small in-
vestors throughout the country, which has
been conducted on a scale hitherto un-
known, now shows that the demand from
that quarter is pretty well filled. There
has been some OF the same investment
buying by the Weather class Of investors
but not IN the volume that might have been
expected under the circumstances. The
chief demand for stocks to-day came from
shorts While some Of the heavy traders
who have been operating on the short
side believe in taking profits from time 10
time they are still 0utspoken in the be-
lief that stocks are sale on all good ral-
lies. Personally, I believe that the low
prices have been scored for some con-
siderable time 10 come. and I am Of the
opinion that good active stocks are good
purchase on all fair breaks hereafter"
G Bowie Chipman, Of Z. r. Chapman &
Co" During the first hour prices were ir-
regular ID many Instances, the leaders sell
ing considerably lower than last nights
finals. II was noticeable that the transac-
tions decreased materially and that trad
| ing or the declines was much smaller than
for ddys. From about y o'clock until the
close, the market. although entirely lack
/ ing in any. sensational feature. showed
steady Improvement and the effects OF
/ first-class buying in the leading issues.
The last prices were almost the highest
| Of the DAY, with q tone so steady and con-
tident that il is but reasonable TO expect
an extension of to-days strength. The
/ banks continue 10 gain; money slightly
| easier
Benjamin Woodruff. Of Post & Flagg-
Early In the day the bear party freely
circulated a report that they would knock
the market and make prices lower than
ever. In the nervous state Of the public
mind this threat caused trepidation. and
quite an effort was made about II o'clock
TO break Union Pacific. which has been
the chief point Of bear attack ever since
! the recent great decline began. This move
proved Of little avail. rs coed support
was extended, and from that time on
gradual recovery proceeded. practically
without interruption until the close. being
/ due mostly to short covering. It looks as
/ II this movement would continue some
what further, and then I look FOR a dull
market. with tendency 70 sag. This is
Usually the rule after a panic. for so
many people are severely hurt that they
wait only for the first opportunity 70 sell
stock at q higher level"
J. b. Weed, OF Dick Bros & Co.-"After
a somewhat higher opening. but with
prices not up TO LOndOns final quotations,
the market became irregular, AID bearish
/ operators sold stocks. causing declines in
the leading issues of about points Lit
tie long stock appeared on the drive and
| prices became duh at the lower levels.
The market began TO improve from the
noon hour, but trading only became active
when prices would improve fractiolally
and then lapse into duluess again. The
/ rally continued up to the close and final
! prices were at about the highest for the
/ day. Reading and Union Pacific were the
more active strong stocks, though Penn
sylvania, Great Northern preferred,
/ Northern Pacific. Missouri Pacific, St
Paul. Smelters, and Amalgamated ali
showed good gains Call money ruled
around 81 per cent most of the day.
Herbert L. Jones, Of Charles G. Gates
& Co.-"Owing to the extent and position
OF the short interests. prices are likely to