Evening star. [volume] (Washington, D.C.) 1854-1972, 1897-08-14
Stocks Open Lower, but Advance
Under Liberal Buying.
SATISFACTORY WEEKS RECORD
Bona Eide Investors Make a Strong
Undertone.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, August 14.-Opening prices
this morning were generally lower as the
result OF continued depression I'm London
and some selling of speculative holdings
The willingness to absorb liberal quantities
OF the better class of securities soon be-
came marked feature of the trading. and
reactionary tactics were practically aban-
doned at the close of the first half hour.
Prices rallied sharply during the re-
mainder Of the session. and In some in
stances the best prices OF the week were
recorded right at the close of business.
The market having again demonstrated
its superior stability. yesterdays sellers be-
came conspicuous buyers At the improved
prices.
There have been no discouraging devel-
opments during the week. yet realizing
sales have been prominent almost every
day. The average volume OF business has
exceeded half million OF shares daily.
and prices have improved during this
period.
There are few presidents for such &C.
ticn. and as a result the market is con-
coded to have earned extraordinary dis
friction. Higher prices are accepted as
being probable because the buying power
has as yet developed no indication of ex-
haustion.
To point to the advances recorded since
the sensational scare period incident to
the silver delirium last year Is the one ar
gument upon which the reactionists rely.
ST. Paul is locked Upon as a certain per
cent stock. Burlington is more than equal
TO the addition of i per cent to its present
rate and Rock Island will he disappoint-
ment IL its present rate is not doubled.
Large crops and the advancing prices in
cident to an almost universal demand are
the factors upon which prosperity Is so
generally predicted.
The market has been distinctly one-sided
at times, but those who looked upon this
fact as a defect have been disappointed in
their efforts TO profit thereby
The mcst capital is arrayed on the side
of improvement, and the fractional PROFITS
resulting from scalping during periods of
extensive realizing are ungrudgingly left
to the professional trader. Discrimination.
while wise at all times, is especially essen
tial at this juncture.
The worthless issues which have been
worked up on the surplus strength of those
more deserving are nearing a climax. If
rot collapse.
The present level of prices demands a
proper regard for both management and
earnings. This combination makes value.
A mere bidding up of prices is satisfactory
CROUCH to the Spectator. but the mainstay
of profitable financial operations is the
investor. That there are many of the
latter class Of operators in the market
the weeks record attests.
London Is slow to realize the changed
conditions, but there is no lack of conf
dence i'm an ultimate and enthusiast ste de-
mand from that center.
Gold imports and London buying are
powerful reserve forces upon which the
leaders of the advance rely 10 ward off
professional attacks.
The bank statement has again for its
chief feature an extension of loans. The
increase in this item is a trifie over five
and one-half millions A better demand
for money, increased bank clearings end
steady market for commercial paper are
the most important developments IN bank
ing circles. The net result of all opera
tions is reflected by a decrease OF s2.l1a.-
100 in the reserve. TIE financial week
closes under favorable auspices.