The Washington herald., 1907-07-25
LOCAL FINANCIAL GOSSIP.

Business was brisk on the Washington
Stock Exchange yesterday. but took a
turn quite removed from recent days.
Washington Gas and Capital Traction.
which were the leaders 50 late rs last
week. were practically neglected. and
transactions were largely confined 10
Lanston. the local railway bonds. and
Mitchell Mining
The price of Gas sagged first to 76 and
then to IS on two sales, both subject to
the opening Of the books" after the
closing for the semi-annuai dividend. II
is evident that for the present no one Is
interested in pushing up the price Of Gas,
and those having the stock for sale are
confronted with gradually falling prices
Lanston is momentariIy the strongest
card on the board The sales yesterday
were strong from % is to 10 IL.
Capital Traction 5s hold to the level of
10, one sale yesterday going on record
fraction above that figure.
Opinions on the New York Market.
Herbert L. Jones, Of A. o. Brown & Co.
-"Only moderate reactions seem probable
in the general list, and on these il appears
safe to make purchases Of the better class
of stocks"
G. Bowie Chapman, Of Z. r. Chapman
& Co.-"The particular feature of the day
was found in the Hartman issues. South
ern Pacific advancing rapidly TO 9014
During the first part Of the movement
Union Pacific Jagged somewhat but in
| the early afternoon went through TO
lslM, a new high record Oh this movement
Brooklyn Rapid Transit was marked up a
point in the last half hour. Copper was
strong in anticipation OF the points div
/ ldend tomorrow. sensational advance
took place in New York Air Brake upon
rumors of buying for control. The Erie
directors met and transacted routine bust
ness. but failed to make any announce
ment as 10 dividends on the preferred
stocks In a great many ways to-day 5
market did much better than those for
sorlv days. The present movement should
continue, and IL may be that those who
are expecting too great a reaction may
/ find themselves without long stock or
! forced TO pay even higher prices than the
present"
e. W Crew, Of Henry Clews & Co.
London was a moderate seller In our
market to-day. with the exception Of
Southern Pacific, Of which It was a free
/ buyer. due not to unfGvorable adyices
/ from this side but TO the general feeling
/ OF depression Ia European markets and
I their inability to float the new securities,
/ even on the most favorable terms These
sales have been easily absorbed here.
which speaks we'll Of the local market.
| This particularly is so when taken In
conjunction with the iron ore labor strike
/ OF the steel company. There is no par
/ tiCulaT change in the underlying condi-
/ tons. Excellent railroad reports and talk
/ OF an increase IN the Southern Pacific
/ dividend have tended to produce q mere
cheerful feeling While L IS known the
market is largely in the hands Of profess
/ SIGNALS il has been demonstrated to their
satisfaction that Il Is easier 10 mark
! prices up than down Barring moderate
/ reactions from time 70 time. due to profit
taking. It looks as though a somewhat
| higher range would be established"
| Benz. Woodruff, Of Post and Flagg-
/ "To-days market was largely stimulated
+ by the sharp rise in Southern Pacific. !
I have been bullish on this security FOR
some time, and I still believe the stock
/ a purchase on every reaction and until
I the actual dividend rate is settled. I be-
1 lieve Il VIII De one Of the most attract
/ I've trading issues on the board. any sus-
| tanned advance IN Southern Pacific. as well
/ as any Increase in the dividend rate
should work TO the benefit Of Union Pa
1 cific. Naturally. the money market Is
what must be watched closely. The clos
/ Ing was strong, with Southern Pacific
/ showing a gain OF over four points for
4 the day. / would not be surprised TO see
/ the market broaden out and become more
active. with the Hartman stocks as