The Washington herald., 1907-04-17
LOCAL FINANCIAL GOSSIP.

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A fair line of business was transacted
on the Washington Stock Exchange yes
terday Washington Railway and Eiec-
tric common recorded sales of $50 shares
al brought in by one broker and the
greater part taken By him. wilfn others
refused to buy it. A few bids we're made
for parts Of the stock below 40, but rather
than let il go below that figure the offer
ing broker bid il in.
Better demand appeared for the pre-
ferred stock, though less OF It was to be
had. The bargain hunters were success
fuI IN driving the price down quarter Of
a point on the sales.
Lanston was called for by several bro
kers. but only 60 shares were taken to the
record.
Mitchell Mining created some interest
but as no one would bid it above 30 those
having the stock refused to bulge from
higher offerings
Gas stock was posted "ex-dividend" to
the extent of 90 cents share. payable on
May / Notice was given by the Capital
Traction Company Of the withdrawal Of
bond rights. The Washington Loan and
Trust Company announced its regular
dividend, payable May !.
Opinions on the New York Market.
Herbert L. Jones. Of Charles g. Gates
& C0.-"The market continues duh and
professional There is little incentive TO
buy and neither buying nor selling is at
al significant On the breaks good stocks
should be purchased.
G. Bowie Chipman Of e. r. Chapman
& Co.-"The initial and final half hours
in tO-d1ys market We're interesting. Dur
ing the balance of the day trading was
almost at "A standstll and what small
fluctuations took place were entirely
without significance. The market opened
stronger. did better during the first half
hour. held this gain, and in the final few
minutes rallied sharply. The majority
of the active issues are tonight from
70 points better than last nights clos
ing. Many times during the day a practi-
cal deadlock seemed 10 exist There was
no pressure 10 sell, nor was there any
inclination 90 advance prices. The final
rally was on what looked like short COW
ering, and II remains 10 be seen whether
under diminuti0n Of this class of business
to-nights final range viii hold. ] hardly
feel an the present time Ike advising pur-
chases. and would not so advise until the
market shows a more positive cspabiity
OF holding its gains. and not giving way
to each attack by the shorts
g. 7. Edmunds. of Dick Brothers &
Co.-''The market opened generally higher.
London showed Improvement and this
had "a good effect upon sentiment. After
the first half hour stocks became reaction
airy, but trading became dull and there
was little doing outside of professional
transactions After the noon hour prices
began TO harden. An unsuccessful at
tempt to drive certain stocks az the be
ginning OF the last hour was followed
by a sharp rally, which brought stocks
up 20 the best prices. OF the day. Such
representative issues as Union Pacific.
Southern Pacific, st. Paul. Amalgamated,
and Smelters scored the largest advances.
The close was active and strong X
would seem that the long looked for turn
had come. However, / advise extreme
caution.
Benjamin Woodruff. Of Post & Flagg-
''The market was duh and uuinteresting
until just before the close. when the
shorts started 20 cover their contracts,
and finding little stock for sale. prices
were bid up rapidly. special strength be-
ing shown in Union Pacific, Southern Pa
eifcs Copper and Shelters. There was no
news OF moment TO influence prices. and
dealings were largely professional. prin-
cipally representing trades among tie
brokers themselves. The market has
appeared 90 me for the last few days as ii
it was oyersold, and If the big interests
choose they should have TO trouble in
bringing about a further rally, for il is
only a few days ago that Union Pacific
FOR instance, sold at 13. I repeat that
Southern Pacific and AtcnsOu should DO
much better. Steel common was also
strong, the uncertainty over the coming
dividend declaration undoubtedly helping
20 make the shorts In the stock somewhat
uneasy"