The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1907-02-22
Opinions on the New York Market

S II. Agnew, of Henry Clews & Co
The market was heavy and dull. traders
being apparently loath to make any new
commitments over the holiday Traders
on the general situation are still bear
ishly inclined There is sufficient demand
for stocks in the loan crowd TO indicate a
fairly large short interest, and most of
these stocks were sold at a higher level
Some traders showed a disposition to
take profits 10 even up over the holiday
and this covering of shorts helped mate
rally 20 support the market TIE feeling
has become almost universal that this
year will show reaction in trade and
that the shrinkage I'm stock values is sim
ply a forerUnner Of what is 20 happen in
other lines Of business. BY far the weak
est stock on the list is Reading There Is
no apparent reason for the attack on
Reading other than persistent selling by
some traders and no concentrated buy
ing. The weakness In Great Northern and
Northern Pacific is attributed 10 the ac-
Acknowledgement made by Mr.. Hll that the
railroads are already taking a reef in their
sails. IN expectation Of "a serious slacken-
ing Of business. The immediate future Of
the market depends to a great extent
upon the fate Of the Aldrch currency bill
in the Senate"
Benjamin Woodruff, Of Post & Flagg-
There Is little TO say Of such q market
with three-day holiday before US, as
trading during most Of the session ceased
almost entirely. The Aldrich bin does not
seem TO make much progress IN the Sen
ate. which causes some uneasincss; also,
people are much afraid Of the Hartman
investigation on Monday. These are the
two all-talked-Of incidents in Wall street
and the immediate future of the market
depends almost entirely upon how they
turn out A rather determined bear drive
gainst Reading somewhat. enlivened the
last few minutes. and the price Of the
stock was knocked down below 120 but
showed a slight rally At the end"
J. b Weed. Of Dick Bros. & Co.-"Tbe
market showed a continuation Of the sell
ing movement Of yesterday. At times
trading became very dull. and rallies were
feeble. Reading was by far the most con
spicuOus stock and declined over two
points from the opening, closing at about
the lowest. Stock seemed 10 be- for sale
on every SHOW Of strength. in spite Of de-
mails OF the TumOr that the company was
about 10 issue from 000 70 100000
new securities Union Pacific was note
worthy exception 10 general weakness in
active issues. and closed with a slight
net gain Tor the day. The close was weak
and fairly active"
6. Bowie Chapman. OF Z. r. Chapman &
Co.-"AbOut the only developments in the
market worth noting took place during
the last half hour Previous 10 that time
the list was dull and fluctuations were
carried on within a narrow range above
and below last nights finals In the last
half hour tie market became what might
be called spOtty, the inal prices showing
great irTegulaTity. St Paul, Atchison
Union Pacific, Southern Pacific New York
Central. and Pennsylvania closed steady
with fractional changes the Hill stocks
about a point Off, while Canadian Pacific
gained slightly more than that figure The
Coalers were generally lower. Reading be
ing under especial pressure and appar-
emily subject TO aggressive short selling.
Among the iudustrials Copper and SteeIs
were steady: the SHELTERS. however. sold
of about a point and a half. Dealings
were much restricted, and the day pre-
scented the usual ante-holiday aspect"