Evening star. [volume] (Washington, D.C.) 1854-1972, 1896-11-23
FINANCE AND TRADE
Big INCREASE IN TEE BANK DEPOSITS
Indicates the Returning Confidence
of the Public.
GENERAL MARKET REPORTS
special Dispatch to The Evening Star.

Special Dispatch to The Evening Star
NEW YORK. November 23.-The condi-
tons and results reae ,ted In todly's stock
m ket were identical with those of the
preceding week. Developments were favor
allie. hut. being directly opposed TO the
commitments OF the dominant interests.
were completely ignored. The room has
undisputed dominion over vaiu IS. and con-
tinues to sell. in order that profits may be
resped on original sales. interests net
usually described as professional are
pleased with the reactionary tactics. be-
cause they foreshadow a profitable pur-
chasing level and a sharp recovery.
The increase of s22,VOo.vO in last weeks
deposits clearly demonstrates the fact that
moneyed interests were long of money and
not stocks over the elections. Tie r.tarn-
irg OF these boarded funds to banking in
situations indicates not only a return Of
confidence, but a desire TO have Idle funds
available for checking purposes.
1t Is a matter of small moment to what
purpose these funds are applied profits
from any source sooner later seek in
vestment and the security market will I'M
doGbtedly attract its share. Meantime,
however. the campaign against the small
holder may be continued. but from now on
the shrewd observer will have due regard
Tor the character of the buying, and not
the selling The latter operation. in the
absence of new adverse developments, is
lot likely to extend beyond the limits of
the room.
AS the date for the reassembling of Con-
gress approaches, the difficulties to be
countered are more frequently paraded for
effect on prices.
What will happen at Washington prior TO
the 4th day of March Is not likely TO WORK
either injury CT benefit to any marked
degree. The Congress assembling after
that date will have before it questions Of
vital interest to the business world. AS
Stunning that the responsibilities of the oc-
oasion are fully realized by the individual
members Of that body. tariff changes are
not likely to work to the disadvantage of
either private or public wealth The agita-
ton CT the several schedules will serve TO
shares. but even in this group the tendency
Is not likely to be favorable TO one side
only.
Manhattan was sold somewhat more con-
fidentiy than heretofore. ard yielded easily
to moderate offerings of stock. Around 96
decline of IA per cent from the first
quotation, the stock was supported by the
clique identified with the previous manip-
ulation.
The Grange shares Burlington, Rock
Island. st. Paul in particular were sold by
the room and a few disappointed holders
Continued decreases In earnings and fears
or hostile legislation in western states we're
urged in justification of the decline
Sugar was active. but for the greater
part OF the day the price ruled substan-
TALLY above last weeks closing level. indi-
eating Improvement in the character of
the support. American spirits was dun
around closing figures, the manipulate
being again withheld for private reasons.
The local money market ruled steady at
last weeks rates, while better demand
fof foreign exchange resulted in a gain
of II per cent.
The net result of the days business Was.
in a majority of instances. unfavorallc to
prices. Similar records are likely during
the continuance OF the present narrowness