The Washington herald., 1907-01-09
LOCAL FINANCIAL GOSSIP.

/ interest centcred chleny IN mining
stocks and two local bank shares al yes
terday's meeting of the Washington Stock
Exchange. The tactics of forcing up the
/ price ON Bank OF Washington shares was
resumed. and this stock registered five
points higher at the close of the call, with
none offered. The bid price now stands at
/ 63e Washington Exchange Bank stock
was listed for the first time.
/ Fifty shares Of the stock of the Amer
/ ican National Bank were thrown upon
/ the market and sold al 10. The broker
offering it made strong effort 10 get a
! higher price, but was obliged to content
| himself with that offered Probably more
of the stock would have been eagerly
taken if IL had been for sale.
Greene Copper sold $40 shares from 32sl
down to S2iz, 100 of those taken being on an
option for sixty days.
Mitchell Mining came out we'll at 81,
800 shares going under the hammer.
A number Of the most active brokers
were absent from the exchange. attending
the various bank elections, which were
conducted at the same hour.
Opinions ON the New York Market.
c. Bowie Chapman. of Z. r. Chapman K
Co.-"The market sold off during almost
the entire five hours, although at several
times spasmodic rallies took place. differ
ent issues being used to steady the gen
eral list. II was apparent that stocks
on the strong spots and as prices gave
way. The closing represented general
losses. the old leaders having suffered the
most. Call money rates were erratic, l eX-
pect 10 see further unsettlement, lower
prices, and continued liquidation"
Benjamin Woodruff. Of Post & Flagg.-
J The market was inclined 10 be weak al
though from time to time it showed a dis
position 20 rally, until after / o'clock,
when call money rates began to advance
sharpIN The reason for this is hard 10
eXpia!nN for money ought 20 be working
easier this week. following precedents.
and the fact that it does not and that
these high rates once more prevail is dis
|concerting TO the bull interests, and / do
not wonder that people throw over their
long stocks"
Herbert l.. Jones, Of Charles @. Gates <
Co.-"The decline to-day followed an ad-
vance in call money rates 10 10 and Is per
cent and various sensational rumors.
none Of which proved true. The buying
on the decline WIS excellent. On any
further reactions good stocks are a pur-
chase, the metal issues appearing particu-
iarly attractive
Thomas L. Hume president Washington
stock Exchange-"After modest open
ing. the market lapsed into sagging
stupor. and awakened with an orderly
selling movement. which was not inter
rupted at the close. Too little money and
too much investigation summarizes the
difficulties. The lack Of the former
diminishes purchasing power, and a SUI
perabuHdance Of the latter destroys con-
fdence. The market should rally from
these prices but until vital conditions
become more definitely pronounced per
manent advance should not be expected
: II. Agnew. of Henry Clews & Co
The money question IS stiIl the most
vital one at present. The continued firm
ness in lending rates was responsible for
the liquidation in the afternoon hours
The heavy selling Of Southern Railway
common and preferred was supposed %
be stock held by the late Samuel Spencer.
former president of that road. While
some professional traders were pgttinc
out short sales, it was generally believed
that the heavy selling also represented
holdings OF long stock. The decision in
favor Of the Brooklyn Rapid Transit
Company, sustaining that company's con-
tentiOn To collect a Decent fare to Coney
Island failed 90 advance the price of
that stock. With money lending al Is
per cent l am opposed to further COM
mitments at present prices, except in a
very few issues