Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-12-24
Under a Buying Movement Prices
of Stocks Advance.
HEALTHY UNDERrONE TO SPECULATION
Looking to Washington to RepIen-
ish the God Reserve.
GENERAL MARKET REPORTS


Special Dispatch to The Evening Star.
NEW YORK, December 24-Buying by
capitalists and large corporations was the
feature of tcdsys stock market. If changes
in the currency are to be made the better
class of securities will be more desirable
than uninvested money, the value of which
may at times be a subject of doubt The
recent depreciation in values has empha-
sized this argument. and a steady absorb
ticn of securities by investors is in process.
From opening about on a parity with
last nights final figures, prices were ad-
vanced throughout the entire list. gains
from | to ; per cent being recorded during
the first half of the session. The recovery
in values since Saturday at noon has al
ready extended to $40 and s15 per share in
many instances, and healthy undertone
is again in process of rapid development.
Under the surface it is known that sew
eral important matters are under advise
ment in Washington, all looking to the i'm
mediate relief of the financial strain pre-
cipitated at that center one week ago
Should present expectations be realized the
effects of last weeks panic viii be rapidly
olercome, Notwithstanding recently eN-
pressed opinions to the contrary. At the
advance 1t is natural that weak holders
will attempt to tighten their burdens and
relieve the liability of friends. whose efforts
since Saturdays crisis have been wholly
responsible fer the brevity of the published
list of insolvent firms.
Should Washington prove disappointing
in its actions during the immediate future
the present level OF prices would. of course
be but temporary, hut the gravity of the
situation inspires the hope that patriotism
and not politics will tie revived in the in
terest of the greatest good
Gold shipments aggregating s1,5O0,H0 will
be made by tomorrow's steamers but this
outflow caused no apprehension, in view of
the probable early replenishing of the gold
reserve.
The trading of the afternoon was marked
nv ri al los hn y n
who We're anxious to close up all contracts
over tomorrow's holiday, but this setback
was neither unnatural or undesirable.
There is a demand for stocks at concessions.
and this fact is too well known to invite
sales for the short account.
The money market is less erratic than
yesterday. the legal rate and a shade under
sufficing to secure time loans on any kind
situation is less feversh, and recklesSness
has given way to rational estimation of
merit. The needs of the federal treasury
are of more Importance than our diplo-
matte attitude toward any nation, and all
other considerations are now to be set aside
until this need is supplied. If the expedient
agreed upon is at all acceptable. the new
year will fulfill all the optimistic, anti
panic forecasts.
London Stock Exchange Quiet.
LONDON, December 24.-The stock ex-
change opened steady and continues quiet
Consols advanced 2ih to 25s over yesterdays
prices, and Union Pacific and American
railroad advanced q to IL all round; but
there was little business doing.
A Philadelphia Failure.
PHILADELPHIA, December 24.-Wm. G.
and H. S. Hopper. trading as VIM. G. Hop
per G. Co., bankers and brokers, % South
3D. street failed today. The firm declines to
give out any statement, but the liabilities
will probably be heavy, they did a big
business. 1t is believed they were caught
on the short side of the market, As, follow
ing last weeks slump. stocks have ad-
vanced.