Evening star. [volume] (Washington, D.C.) 1854-1972, 1898-11-26
Stock Market Closes Strong After =
Weak Opening.
PACIFIC ISSUES BOUGHT FREELY
Prospects Good for Better Prices
in Future.
GENERAL MARKET REPORT
Special Dispatch 70 The Evening Star

Special Dispatch 10 The Evening Star
NEW YORK. November pa profession
al and reactionsry market for the first hair
of the session and a strong and more con-
noe mt tone during the final hour about de-
scribes today's stock market London's
preference for American shares was again
marked, but unfavorable weather at that
ceRier curtailed the volume of bushes
Foreign houses bought and sold In moder-
ate amounts. but the sales were SOLELY in
the interest OF profit taking
Locally The husiEess of the early morning
was largely professional. the commissiou
h"use demand having fallen off noticeably
A satisfactory bank statement ana the
rumored agreeing OF spaln's commissioners
TO Americas terms increased the volume OF
real business and closed most stocks at a
net gain for the day
The combined local and foreign buyins
OF Union Pacific issues had a substantial
influence on the prices of both the common
ana preferred stock. The buying was &C.
companied by rumors that a dividend of I
per cent would be paid on the common
SOCK STOCK IN addition TO the permanent estab-
ishing of the preferred on per cent
basis While recent earnings indicate ar
ability to carry out this program the time
for inaugurating the distribution must be
SCI tousiS CoHsioereu from the standpoint
OF policy.
II the territorial dispute in the northwes;
is satisfactorily disposed of the Union Pa.
cific company can afford TO deal as liberal.
ly with its shareholders as does the North
ern Pacific. The buying OF the stock. which
began anew in yesterdays market was
confidently continued today from SOURCES
IN position to be fully advised OF the pros
poets in the case
All thirgs considered the week has been
severe test of the markets actual
strength, and the result In the same COM
prehensive view has been a success The
taxing OF profits and large speculative &C
counts has been accomplished without ex-
hausting the demand, which has all along
honeycombed the market below the surface
Germanys tight money condition of a
week ago has been relieved by a wholesale
selling or American Issues through London.
The home market has been broad enough
to remedy Its own ills as well as those of its
neighbor instead OF succuinDing to the COM
bined attack. Earnings and .he prospect
OF continued commercial and financial i'm
provement are factors which take the pres
ent market out Of the category OF common
place affairs.
SPANS actual submission or public ac-
acknowledgement OF submission not to be
avoided is now considered likely on all
sides. and the view is almost unanimous
that sharp squirt in prices will follow.
The Federal Steel issues are among the
many that would be made the most OF UNI
der such a favorable condition.
The bank statement shows a gain OF
SI64 300 in lawful money all in legal tend
ers. The loans have decreased 50 345 400
and the deposits about So. 100000. This lat
ter item is considerably in excess of the
amount required to make the statement alb
solutely consistent. The net result of
holdings above the legal requirement up to
SIS 35I 5I5.