The Washington herald., 1907-07-27
LOCAL FINANCIAL GOSSIP.

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Washington Gas was again the leader
on the Washington Stock Exchange yes
;erday and although several hundred
shares were sold. 1t was impossible to boil
ster Up the prices to an extent. The
pricts after cali were a little SITTER than
before, but. try as they would no one
would buy the stock at I6 except on OPP
1tions for sixty days.
The local railway bonds were fairly ac-
! tive. but the trading small, as the issues
were not forthcoming on the bids There
was a good demand for Lqnston, but little
of the stock was uncovered. the price rul-
ing at 1875. As usual of late. Morgan
thaler was sought. but, aside from one
fractional LOT, was not found This stock
| IS q scarce article, and the price Kept
within narrow fluctuations.
George Howard. one OF the newly
elected members of the exchange. was In
his seat yesterday for the first time.
The exchange will be closed to-day.
Opinions ON the New York Market.
E. W. Crews. of Henry CLOVIS & Co
THE market opened firm. due to buying
orders from London, especially for Steel,
based on the break in the miners strike.
Il Is believed that London has done con-
siderable covering here during the last
two days, in anticipation Of the fortnight
/ ly settlement, which commences on Mon
day. While there is apparently no press
ure to sell stocks. it is noticeable that
since it is practically assured that South
ern Paci1c will be put on a per cent
/ dividend basis, a great deal Of the recent
enthusiasm has evaporated. II must BE-
/ born in mird that the market is largely
professional, and for that reason no de-
cided movement in either direction can be
safely relied upon, as with the existing
state OF affairs shese gentlemen are sat
is1ed with quick turns
Benjamin Woodruff, OF Post & F'lagg
AT the opening some profit-taking was
in evidence and the market continued for
come time irregular, but in the afternoon
an improvement in prices took place.
The strength in Steel was favorably inter
preted as this stock has been a laggard
/ IN the upward movement Undoubtedly
/ tho market has had 70 take some long
stock IN the past day OF two. but ap-
parently this has been absorbed. and the
! interests behind the advance have been
able to maintain a firm tone in prices Il
! is curious that again this summer the IN
! huence for an advance should come from
/ the Hartman stocks. although not in
such a sensational manner as occurred
/ last year The expected increase in the
Southern Pacific dividends and the inciden-
tai advantage it would be 10 Union Pacific.
/ Is undoubtedly the main incident in the
/ improvement. Money remains the threaten
/ ing feature. and exchange rose 10 price
near the level for export one advantage
of this has been that foreign bankers have
! been encouraged 70 put out more bills
and loan the money IN the market. II
/ looks rs II the firm tone would continue
for the present"
/ Herbert L. Jones. Of A. o. Brown e Co.
There is no reason. at present. 10 look
/ for any further declines. and in the alb
/ sence Of unfavorable news there should
/ be good improvement next week"
s Bowie Chipman, OF z. r. Chapman
4 & Co.-"To-day's market was extremely
J Irregular and the range Of closing prices
shows mixed changes. Weakness in the
/ Eries and Southern Railway aided in the
( carly reaction. Atchison was strong In
/ the last hour. Southern Pacific did bet
ter than Union Pacific. Steel Common
/ recovered a point, mostly on short cover
ings, On rImors Of private advices that
( the iron ore strike is practically settled.
Notwithstanding the fact that exchange
IS now very near the gold export point.
/ it is not expected that gold engagements
/ Will be resumed In the immediate future.
/ l hardly expect much OF a market until
the beginning of the week l would buy
/ on weakness. but take profits on any ad-
vances partaking of sensational features. %