The Washington herald., 1907-11-15
COMMENT ON MARKET.

Benjamin Woodruff, Of Post & Flagg-
THE market started OF quite weak, and
IN the first hour declined from last
nights closing figures. Toward midday
the announcement Of the regular divi-
deEds on Union and Southern Pacifcs
stidened things up. Trading was gen
orally dun. This is as il should be, for
II the market should experience a serious
break from the present level it would
probably start al sorts of trouble again.
whereas. should we get any material ad-
vance Ct would AT once make money
tighter than ever and such a movement
end in calamity. The best that could
happen al present would be 20 have
things remain as quiet as possible. and il
looks as lf this would be the case About
all that can be said OF the situation IS
that il is no worse, and every day brings
us nearer 10 the end Of our difficulties.
When this VIII actually be reported is
hard 10 determine as, from present ap-
pcarances VIC are just about where We
were a week ago. although fundamentally
things must be improving
g. Bowie Chapman, of r. r. Chapman
a. Co.-'-The market was dIll The rail-
way list, while irregular and fractlonaIly
lower at the close, showed better resist
ance and the absence Of liquidation The
Hartman stocks We're strong and made
slight gains. There was an absence OF
news. The foreign exchange and currency
markets were quiet. renewing rate for call
loans 10 per cent. with new loans running
from 70 20 - per cent. Each day which
passes in this readjIstment process Is
just that much gain toward the ultimate
recovery and Improvement The invest
ment demand continues, but naturally not
quite as heavily as recently
George l. Edmunds. OF Miller & Co
/ The stock market continued weak with
decided pressure against the Steel stocks
and St Paul IN ST. Paul the heaviest
selling seemed 10 come from a broker for
merly close to a Pine street interest and
in the Steel issues, a well-knOwn Wall
street wire house had heavy selling orders
from Pittsburg. Even the declaration Of
the dividend on Union Pacific failed to
rally the market TO any extent and ad-
vices from London tended 10 retard even
the moderate demand There is consid-
erdDie interest as 10 this weeks bank
statement and the street generally seems
TO have an air of uncertainty. ! see no
reason to change my opinion ihat good
railroad stocks, intrinsically. are decidedly
cheap"
f. W. Crew, Of Henry Clews & Co
The report that Paris viii part with
Sl5,08O.O0O gold for shipment 10 this coun-
try has caused a more cheeful feeling in
London. with quotations for Americans
well above yesterdays parity here: new
ertheless. what little was done for for
eign account this morning was on the sell
ing side, particularly of Erie. II Is a
foregone conclusion that some time must
elapse before normal conditions will re-
turn. The demand for funds from the
interior is urgent. During the past week
the subtreasury has taken from this cen
ter 10 various points South and West
6,G0000. and in addition 10 this, heavy
shipments have been made direct. Taking
everything into consideration, the finan-
cial situation is still TOO critical to war
rant the purchase Of stocks other than
for investment"