Evening star. [volume] (Washington, D.C.) 1854-1972, 1900-11-17
Closing Prices Of Stocks in Many
Instances Record Breakers.
PUBLIC AGAINST PROFESSIONALS
When Readjustment Comes Least
Deserving Issues viii Suffer.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK. November 17.-As a fitting
ending to an exec. .Ionally buoyant week
in the stock market. closing prices today
were in many instances the highest ever
recorded for certain favorite issues and
the entire list closed around the top on this
movement. There are no Indications OF an
immediate setback, and talk of a reaction
attracts few listeners. Every one knows
that the rapidity of the pace must bring on
exhaustion, but no one is willing TO predict
the point beyond which endurance IN
wane. '''
Inc undertone suggests unlimited vitality
ana the public is directing the course OF
the market. The professional element has
Deen contestins the advance ali week and
mas mad an Improbable experience The
buying comes Principally from commission
hcuses. and despite the talk of small and
inadequate margins the amount of pyra-
nhuinS being done Is less than might have
peeh expected in a million-share market
On several occasions during the week
stop orders have caused a sudden reaction
in few stocks. but a normal recovery
USUALLY followed. At the present level stop
orders are Likely to inci ease III volume nj
be moved up very close to the market This
precautlon Is commendabe, and should pre-
vent the dissipation of profits 10 the extent
usually witnessed in big markets.
Inc movement in prices during the last
nan OF the week has been confusing mas
huch as certain stocks have halted while
nelghboring members of the same groun
nave gained substantially. In the Pacific
group, for example, Missouri and Southern
racine nave attracted less attention than
NoTthern and Union Pacific. The stocks
Just named are well spoken Of but they
IRE IN good supply. while in the latter the
amount OF stock seeking a market does not
deter the advance
In Atchison the demand is better than
the supply, but other issues of similar
price are merely well sustained Atchison
and Union Pacific common are distinct ia
vorltes with certain shrewd operators
Merit Is urged the basis of such prefer
ence, and both are deserving of the growing
confidence. In the traction group bi9
things are pending, and just now the indi-
cations are that Manhattan will be the
most benefited.
This property is proclaimed as the leader
OF the coming weeks market. and import
ant developments are promised. OF course
the announcement of such deyelopments
VIII depend upon the markets sympathetic
state. Brooklyn Transit seems to be being
neld In check for purposes of accumula-
tlon. but the short interest interprets its In
action to persistent realizing
The coal shares give daily evidence Of
strong buying. but all rumors thus far an
nounced have been officially denied Some
one buys these shares willingly and with
an air of knowing something other than
mere routine reports.
While 1t is impossible to select a few
stocks which will accurately reflect a mar
het winch mas advanced hundreds, 1t is de-
slrable that the selection of new ventures
should be made with due regard for merit
and management. Thus far all issues
good and bad. have been good purchases
Many unworthy issues have gone up under
the momentum of the most worthy A re-
adjustment must come and the penalties
Will be the least in the deserving shares
Inc bank statement reflects gain Of
over $4,000, 600 in lawful money. The loans
nave been increased Sass. 600. a small total
col Steering the daily trading in securities.
The deposits have increased IS 57s 200, and
the surplus reserve is larger by S3.O63 10,
making the total reserve over the legal
limit $7,6G9715.