Evening star. [volume] (Washington, D.C.) 1854-1972, 1901-03-23
Stocks Closed for the Week in Very
Buoyant Tone.
FEELING DECIDEDLY OPTIMISTIC
Bank Statement More Satisfactory
Than Was Expected.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch TO The Evening Star.
NEW YORK, March 23.-Cnder the COM
bined influence of manipulation and the be-
lief in the far-reaching consequences OF
pending deals, today's stock market closed
around the best prices OF the advance
movement. The covering of short contracts,
made earlier In the week when liquidation
was pronounced, helped to establish the
high records in several specialties.
The larger banking interests were con-
spicuous buyers of the active issues, and
the street concludes the week in a most
optimistic mood. The conservative element
has advised a careful studying OF the
money market the true barometer of the
situation, and have predicted an advancing
market as long as the money rate remains
In harmony with the enthusiasm.
Today's bank statement, while showing
no very remarkable changes tends to con-
hrm the view that the originators OF pend
ing deals saw far enough ahead to under
take such deals in the full assurance that
nothing but a temporary stringency was
likely. The loss in cash for the week has
been only 81 l62. 900. or more than one mill
lion less than yesterdays estimates
Again the loans have been decreased nv
s4o3S.6oO. and this item Is especially en-
couraging. The market has been kept
strong and the banks have been called
upon to finance fewer brokers' obligations
A decrease in deposits of So 72T 300 coupled
with the previous changes, results in an in
crease OF S269.s25 in the reserve. The in
crease In reserve being largely a matter of
bookkeeping fs less gratifying than the re-
auctions in the loans
The country at large is only beginning 10
appreciate the wonderful features OF the
present market. The buying power exceeds
anything previously recorded and in addi-
tion TO this fact there Is more money in the
country and more experience in handling
IL imam ever before. Railroads are earning
more money, are maintaining rates and are
practlcing more intelligent economies than
ever before. Atchison is q leading exam
pie of the benefits of the new prosperity
and the new methods.
Earnings are said to reflect a surplus.
AFTER nxed charges and the per cent div
fdend on the preferred stock OF an amount
equal to over per cent on the common
DIVIDENDS on the latter are consequently
looked Tor In the very near future
Erie shows constant appreciation and
the proposed changes in management are
likely to be followed by the elimination OF
one OF the Preferred stocks and dividend
on the one remaining, to be followed by a
small disbursement for the common. The
buying OF Wabash, Texas Pacific and the
southwestern group has assumed large pro-
portions ana important developments are
promised shortly.
The higher-priced dividend-payfng secu-
rifles are taken by strong interests and in
many OF them the demand is for invest
ment One of the features of the bond
market during the week has been the sale
OF bonds of high premiums I'm order IN
change the securities for high grade stocka
There Is still another week of doubt
ahead as to the outcome OF the agitation in
the coal regions, but the removal of strike
fears would establish an almost cIoudless
speculative horizon.