Evening star. [volume] (Washington, D.C.) 1854-1972, 1899-12-30
Closing Prices Today We're the Best
of the Week.
MOSTLY DUE TO SHORT COVERING
Prospect for Low Priced Stocks
Next Year.
GENERAL MARKET REPORTS



NEW YORK, December 3o.-Closing
prices in today's stock market helped in a
very considerable degree to overcome the
dependency caused by this months liqui-
dation. The best prices of the recovery
were those recorded at or near the close of
today's business
Good buying has been prominent during
this weeks movement but it is scarcely
fair TO attribute the improvement to an
investment demand. A large short inter-
est, partly professional in character and
partly composed of brokers who sold out
customers stocks during the tense period,
added substantially to the demand.
The combined buying has resulted in an
advance varying from to Is per cent in
certain of the better known issues Part of
this recovery is attributed to the natural
rebound from the depression period but
there are some good judges who consider
the recovery to have exceeded purely nat
ural proportions. Should this view prove
to be well grounded, the market should
subside early in the new year and start
more deliberately from a level somewhere
between the present and the lowest of the
scare period
Sentiment is as hopeful as it was prior
to the decline, but the capacity for exploit
ing 1t is not so great. This defect may be
romedied by the great cutpouring of divi-
dend funds during the next few days Easier
be in position to offer larger and more at
tractive inducements to borrowers.
The one probable source of disappoint-
ment would seem to be South Africa News
from that center will continue to find
prompt reflection in our stock markets
A British victory would do more for the
immediate market than decreased interest
rate, no matter how substantial While
the war continues our gold supply is
threatened. not to the extent of producing
an absolute scarcity. but sufficiently to
scarce the money market periodically should
reVerses to the British army continue So
lar as local conditions alone are a consid-
Grafton there is much to inspire the grow
ing commence in the securities of the larger
railroad properties
Earnings, with the exception of the
granger group. are good and fully I'D to the
needs OF the new policy, which looks to the
ph!Slcal condition of property as well as
to the return to shareholders
Consultations by purchase and by agree
ment are likely to be announced during the
coming season. Administrative expenses
are to be curtailed. mistakes of reorganiza-
t IONS are TO De rectihed and new value is to
De added in every possible way. The exc
cutlon of schemes now well matured cam
not fail of good results
In few instances legislation is looked TO
Tor relief, and in general way the cur
rency b.il is expected to limit the evils of
the coming presidential contest There is
much that will make for good during the
new year, but Discrimination alone will So
cure its fullest results.
The 1ow-priced stocks, or some of them
are likely to demand attention which will
take them well out of that category But
while this is being done it will be no s,,r
prise to See others descending to take their
place.
The bank statement was one of small
changes, but in the main favorable 1t
does not show the most important Incl
dents of the financing during the critical
period last week. The reserve has in
creased slS4,O00 and the loans are larger
by S'3, 800. gain of 100000 in lawful
money is reported and the deposits are less
by S34S, 900.