The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1907-02-01
LOCAL FINANCIAL GOSSIP.

4 tin was given out early yesterday on
the Washington Stock Exchange that
rise was due in Washington Gas. but the
runor did not spread widely until after
the regular call. Just at the end of the
call broker received a message, which
was handed around the floor, that the gas
couapanv had news that the bill would
be killed and an extra dividend would be
declared This set the brokers to work
or gas stock after call. and the price
was bid up nearly TO 50. with offers to
take options at 60. Only two l0-share
lots of the stock came out, which were
sold at IS and IS 3-S. While 1t lasted the
excitement was intense
Outside Of gas stock Mitchell Mining
again attracted most attention. A steady
demand for this stock has developed, and
all offerings at 81 to rs were taken
Attempts were made to force up the price
by Offering II at and above. but none Of
the brokers could be tempted above 3 IS
strong feeling exists among Washing
ton brokers that Mitchell is on the rise
for keeps. and those having the stock are
holding IL rather than CLOSE for better
prices.
Trading in railway shares and bonds and
the in local bank shares was up to the av-
erage. with small changes in prices. Wash
! ington Railway and Electric common
reached 40 IA on actual sales. and ended
strong.
Opinions on the New York Market.
BENJAMIN Woodruff. OF Post & Flagg:
THE market was much more encourag-
! ing than for some time. and shows
signs OF developing a real rally. Al
though a-savage drive was made at
prices in the FIRST hour, bringing many
issues down to the previous low levels.
and in some cases even lower, the clos
ing. while not very active, showed some
strength Until stocks show an ad-
vance from five t. ten points they win
[ be vulnerable TO bear attack and viii,
presumably. be knocked lower and
! lower. I hope We are now going to
have a substantial rally. 1 think values
| in many eases are very low. from an in
vestment standpoint but until we see
| how much further bear raids viii be
met It is impossible TO feel large de-
/ gree Of confidence"
@ Bowie Chapman. of z. r. Chap
| man & Co: without question the re
| cent reactionary movement eliminated
! for the time being with the law prices
/ recorded in the first half hour of to-
! days session. During that thirty min
utes under a terrific drive, still lower
/ records were made and the market at
one time had the appearance Of lacking
/ support of any magnitude From 1880
20 y the market strengthened and the
very high character and quantity of the
( buying made itself felt Prices adj
vanced slowly at first. but gained mo-
mentum during the afternoon. and the
finals were about the best OF the day,
the rally extending from about ] to
- points. 1t must be expected that
the market will be feverish. irregular,
subject to quick changes 81 sentiment
and probSbly be more or less Of a trad
ing affair around a level between that
of this mornings lowest prices and
J figures possibly somewhat higher than
to-niShts.'
: II. ARuew, Of Henry Clews Co.
1T appeared from the action of the
market at the closing hour that the
bottom had been reached. The majority
Of stocks closed az the highest prices OF
the day. There was good evidence Of
covering Of shorts. Some Of the smaller
/ floor traders also bought. on the theory
that the market is entitled 10 a reac-
I tion after a decline lasting for several
~. 10 a.