The Washington herald., 1907-02-06
LOCAL FINANCIAL GOSSIP.

/ on the board of the Washington Stock
/ Exchange yesterday. They were the
securities Of the Merchants and Ne
/ chanics Savings Bank, and the stock and
/ bonds Of the Washington. Alexandria and
Mount Vernon Railway. President
Schwartz and Secretary Worth
ington, of the NJ. and NJ. bank, We're in
| terested SPECTATORS Of the debut of the
/ stock on the wild sea OF speculation.
| Two ten-share lots Of the stock were
sold at -, the par value Of the stock
being $40
/ No business was done in the car line
stock. as several Of the brokers on the
! floor declared they were not in position
/ TO trade in IL without more information.
| President Hume declared that ali the
/ requirements of the board had been met
/ in listing the stock. but this did not seem
To satisfy some Of the members. and.
after the regular call, an amendment was
added to the constitution, requiring that
1 intention on the part of the governing
committee TO list stock shall be posted
seven days prior 10 action on the matter,
/ This does not mean that objection was
/ made TO this particular stock, but that
the exchange was not in possession OF
sufficient information in regard to IL TO
+. deal intelligently
/ Trading was Of q desultory character
and small in volume. Greene Copper was
bid up a little from the low price of the
previous day. There was some interest
/ In Washington Gas, but prices fell away
against the onslaught Of low bids.
/ Opinions ON the New York Market.
/ G. Bowie Chapman, of Z. r. Chapman
/ & CO.-"After a slightly facilitating first
/ hour prices hardened. and with totals
about the same as yesterday, the greater
/ part Of which We're professional, the inn
provement was continued quietly but con-
I fdentiy. with the prices in the last hour
/ the best Of the day. Less apprehensive
feeling seems to exist and less pessimistic
/ talk was heard oH the floor and i'm COM
mission offices. The market continues as
/ I have before said. highly professional
/ tndeniably IL exhibits firmer tone.
/ greater resistance. and more substantial
/ absorbing power. Nevertheless. i expect
! 20 see more or less irregularity, with a
range Of prices which viii permit Of
profitable daily trading
/ THE market showed considerable back
| bone which il has lacked for some time
past The Improvement is due to THE
appearance Of good buying and the belief
/ that liquidation has about spent its force.
The blizzard In New York was RESPONSE
BILE for the dullBcss in the morning hours.
when the market was purely professional.
! IT was apparent very early IN the day
that the pressure 10 sell had abated TO
a great extent Whether the large inter
csts are waiting for a better opportunity
90 make further sales remains 10 be seen.
II must be taken into consideration that
the market has experienced q very heavy
decline. While it is entitled To a rally.
expectation in that direction must not
run too high Ny own belief is that the
market. for some time To come. viii be a
good trading one 90 buy on the raids and
sell out ON the gUod rallies"
Benjamin Woodruff. OF Post & FIagg-.
The market has acted considerably bet
ter to-day. and has ] hope given the bear
party food for thought, as two or three
times during tie day they attempted to
raid stocks. notably Pennsylvania. but
without much success. The stock has
pteu singled UIt for attack on account Of
a rumor that the company IS to have a
strike OF the traiUmeu. ! ann told from
a very good source that DO strike Of this
kind VIII cventuate. The trouble appears
20 be- thar when the last increase in
va ges was made the various brotberhoods
We're not consulted. and had nothing 20
DO with the matter This made them
little Indignant, and they are now trying
te show their amt Iorffy nv d arf14rGfrs,~ "a n,
other Increase. AS the men in general
have obtained an they expected. or want
ed. there is no particular enthusiasm for
the strike proposition. and it will proba-
bly, not amount 90 anything The market
lS now about FIVE points above low figures.
and should il rally a little further / would
advise taking profits. as ! do not see how
We can have any ball market. and prices
are apt to drop back once more into the
same old saggIus condition after the cx-
tended short interest have covered