Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-12-23
Foreign Buying Restores Confidence
in Wall Street.
MANY PURCHASES FOR HOME ACCOUNT
Domestic Capital Apparently Not
Troubled With Fear.
GENERAL MARKET REPORTS

| Special Dispatch to The Evening Star.
NEW YORK, December %. - London
| prices We're awaited with a great deal OF
curiosity, not unmixed with anxiety, by
| Wall street this morning, and when they
| showed advances ranging from l to per
| cent, and foreign houses reported liberal
| buying orders from the other side, the feel
| ing that the worst of the depression was
over became very strong.
The action of the banks in issuing clear
| ing house certificates also helped the good
feeling, and our market opened strong at
prices ranging from to per cent higher
than Saturdays close.
The vital feature of the morning was the
enormous buying of stocks by commission
houses, the cash purchases being unusu-
ally large, even for bargain period. They
| began Saturday morning and have kept
up ever since.
Brokers who make a specially in dealing
in odd lots report an unusually large de.
mand from investors. The volume OF
business of this character is not as large
as it was at one time in 1888, and 1t Is
restricted to an extent by the fact that the
transfer books of many companies are
| closed. The demand, however, indicates
that small investors have been attracted
to the security market by the decline in
prices.
The great bulk of the liquidation is now
conceded to have been by speculative
holders, while large proportion of the
buying has.been by strong people, who will
pay for their purchases. This obviously
strengthens the position of the market. and
is also exceedingly gratifying as an evil
dence that the capital of this country Las
confidence in its resources and enterprises.
There has unquestionably been de-
cided effort to impair our credit abroad,
but 1t is about over. The prompt action OF
the banks and the belief that the Presi-
dent will not wait for Congress in the mat
Of -r,tr, dc tc h-aNE fpnI
effect.
The market will naturally be feverish for
some time to come, but the best judgment
of the street is that the lowest prices this
trip have been reached. 1t has been
demonstrated today that the machinery of
the stock exchange is all right and none
of the failures have been of Importance, eX-
cept to the few directly interested in them.
The steady to strong feeling of the early
trading prevailed to the close. which was
very firm around the best prices of the
day.
NEW YORK, December 23.-James Walsh
& Son. members of the Consolidated EX-
change who do money and bullion busl-
| ness on small scale, have suspended.
The SUSPENSION of H. L. Langhaar has
also been announced. The failure is
small one.
American Stocks Advance Abroad.
LONDON, December 23.-At O'Clock this
afternoon there was less excitement on the
very unsettled condition. There was a dis
position to take more hopeful view of the
Vel ezuclan question politically.
Ccl soils lost the opening Improvement of
IA. There was not much movement In for
e:gn government securities. and the Ameri-
can railroad market, which was very eX-
cited at the opening. was Quieter at 1
o'clock.
In fact. the pancky feeling seems to have
given away to one of more confidence
%. AtchiSpn income bonds
recovered PIP: Atchison ordinary, Illinois
Central. Louisville and Nashville and Den
Yer preferred recovered :; chicago, M1lWau-
kee and ST. Paul recovered l, and others
recovered fractional parts of a point
On the Liverpool, Manchester and Glas-
gov stock exchanges the tone showed
distinct improvement. and prices for Amer
lean securities were steadily advancing.
Prices Advance In Boston.
BOSTON, December 23.-There was
noticeable reaction from the panicky con-
dition of last weeks market at the opening
of business at the ltock exchange this
morning, and it is now believed that the
worst is over. The advance in prices noted
during the first few minutes of business
was not seriously broken, and feeling of
greater confidence was apparent The
market opened with Montana at 81, Atchi-
son, II IL; Sugar, %; c., b. and O., I3;
Tamarack. 115. and Bell Telephone. 1875.
The firm of Gould. Hall & Co. suspended
| today as a result of last weeks slump in
| the stock market The firm is a small one,
and the announcement of their suspension
had no effect on change.
To Issue Clearing House Certificates.
NEW YORK, December pa meeting
of New York Clearing House Association
was held at II o'clock today to consider
| the financial situation. All clearing house
checks, which were required to be certified,
have been certified by the banks this morn
rg.
The meeting of the clearing house asso-
citation adjourned after giving the commit
| tee authority to issue clearing house loan
| certificates to an unlimited amount.