The Washington herald., 1907-05-02
LOCAL FINANCIAL GOSSIP.

A good volume OF business was trans
acted on the Washington Stock Exchange.
despite the rainy day and a small attend
.anee Of brokers Former President W. 3.
Hibbs occupied the chair. ana soon had
the board in a cheerful humor. Business
began brisk on Washington Railway and
Electric as. 5000 Of that issue going on
to several bidders at so and better Capt.
tai Traction recorded sales al l2oA down
TO 1870, but most of the bidding was below
that figure, some Of il being as low as
l28. The closing bid was nearly two points
below that Of the previous day.
Washington Railway and Electric COM
mon chung around 80. though sales were
rlade above and below that figure. Sales
VI $50 were recorded. taken By number
of brokers.
Washington Gas again proved 70 be the
feature of interest for the day. There
was much sparring. apparently. TO keep
the shares from going uD, but the sales
were at strong figures. at G. and better,
the stock closing at 621a About 500 shares
changed hands,
/ Mitchell Mining was in good demand.
though the price shrunk somewhat, clos
ing at As a message was in the hands Of
a number Of brokers to the effect that a
large shipment Of railroad ties had been
sent from Seattle 70 the Pacific terminus
of the railroad in Mexico.
/ Washington Loan and Trust shares were
in demand from several quarters. and
there were not enough in sight TO ill all
the calls, It sold around zoe.
Opinions on the New York Market.
Benjamin Woodruff, Of Post & Flagg-
Prices were reaeuonary. influenced BY
a renewal OF reports OF crop damage and
/ some hardening in call money rates The
trading continues so professional that Il
looks as II the floor traders, finding toe
market sluggish for an advance, had de.
termined so try for swing ga the other
directions. II Is trading market at best
and such reactions following improved
prices are to be expected. The Atchisor
bond issue was announced and proved tC
be IN the nature OF an offer to the stock
holders OF per cent ten-year convertible
bonds, with payments spread out Over
the ensuing year, which should attTaC
Investment. Yesterday the secretary oi
the State agricultural board of kansa!
gave out a glowing forecast. and tO-dal
We have gloomy reports of the damag'
done Undoubtedly the season has no
opened favOrably so far and probably
the winter wheat crop VIII be below tn
iaverage Inquiry as To the conditions
of general business bring satisfactory
replies, although here and there sons
reaction is observable The dry good
e. fa aarrrIefFfnu WITH
volume Of stock exchange trading, espe
ciaIly the commission business 50 light
IL Is difficult 70 form much Of an impress
sion on tie market. FOR two weeks pas
the market has behaved well and woul'
{ appear for the present a purchase o.
reactions.
C. Bowie Chapman. Of z. r. Chap
man & Co.-"With a much smalle
volume of business. prices to-dai
sagged continuously. and. although
one or two htful rallies too
place the active stocks are lower tha'
last night. Again business was larsel
confined % the floor trade, and II was ap
parent that they. being bearish, ha
again taken heart and were working 70
. recati0n In this they were helped b.
renewed reports of bad weather in Ia
crop district, with consequent highe
prices for grain. an advance in the ca
money rate 70 per cent. and the an
( nouncement Of the AtchisOn bond issue
Afy attitude as 10 the immediate futur
Of the market remains unchanged Uu
IN the leading stocks show and prov
, tEeir capabilty of holding each advance
, and until each rally develops stamina SUI
. ncient 70 prevent its giving away TO eac
/; professional attack. cannot see any rea
! sons for expecting an advance
Herbert L. Jones. OF Brown & Ca
the moment crop news is the princip.
: / factor Atchisons new issue of convert
f. / bles was favorabIy received, and the b'
5 lief Is they viii find ready market.
stiu seems advisable TO buy good stock
/ on tie weak spots