The evening times. [volume] (Washington, D.C.) 1895-1902, 1900-11-24


Prices had a slight decline during the
first hour and then rallied until the bank
statement There was some taking Of
profits on the statement and the level got
down 10 about the low Of the day. Just
before the close a rally began which car
ried the general level al the close 10 above
the close of last night. The reaction at
The lowest price had extended to from two
70 eight points from the top Large profit
taking and sharp short Smelling have been
the cause Of the reaction and some stop
loss orders have been reached. The con-
sentative element is divided as 20 the
market prospects for next week many be
heving that an advance will begin again
On Monday and others thinking that the re-
action Will extend a point or two further.
There IS absolutely nothing on when to
base a judgment as to this except that the
public and many of the important inter
Fsts as well continue to buy stocks ana
have orders for purchases around the pres
ent level. The bank statement, OF course,
viii be an encouragement to these people
and If there is no bad news over Sunday
The chances perhaps favor very little fur
Their recession II Is not believed mat the
high prices of the movement have been
reached yet but it IS very probable that
after q week or TWO of further gains there
viii be a good slump early in December
Conditions give every warrant Tor hopeful
ness regarding the ultimate course OF the
market after the holidays.
No possible analysis of the bank state
ment can construe it as otherwise than
satisfactory The big flood of money into
the banks shown by the increase in de-
posts shows that people are getting
ready to invest it. Or this, at least, is a
reasonable suppOsition- Loans have in
creased heavily with the increase of
speculation, but the deposits have been
so big that there is still large actual
increase of cash holdings and a large
gain IN the surplus reserve. The out
look is most promising for easy money
during the next few weeks
There were no special features in the
market. The stsei securities were in
clined to heaviness at first, but afterward
recovered somewhat. News regarding the
steel trade is all Of The most hopeful
character, business being heavier than at
any time this year before and prices
being on the advance all along the line.
It is said that there is little possibility
Of dividend On Missouri Pacific for some
time TO come, and this is given as the
reason for the comparative weakness of
this stock. Talk continues bullish on the
other Pacific securities, and especially on
Southern Pacific One authority states
that the chief advance in this group will
be in this stock during the coming
months. Northern Pacific, common. was
strong today. showing a good recovery
from the decline of yesterday. which
seemed to be induced by a rather poor
weekly gross earnings statement.
The suggestion made in this column
short time ago, that the deal between the
Metropolitan and Manhattan may be for
the lease of the later, was revived again
today in the Street. It is said that the
per cent dividend on their stock at first,
with the probability of larger dividend
in the near future. II cannot be learned
that such q plan is now under contem-
plation as an immediate move.