The Washington herald., 1907-12-22
BUYING BACK STOCKS
Room Trading Spectators
Bring About Advances.
READING DEALINGS HEAVY
Expectation of Excellent Bank
Statement Results in Activity, and
Prediction of Favorable Report
Practically Borne Ont - COnSOIi-
dated Gas Reacts from Friday.

New York, Dec. Z.-The room trading
Spectators. who all through last week
and Up to Wednesday Of this week sold
stocks continuously for the decline. con-
unued to-day the porcess that they had
began in the middle Of the week OF re-
covering the stocks that they had sold.
This was all there was 70 the days Sc
curity market. Advances IN prices. al
though general. were not as large as they
were yesterday. and the market was al
most wholly desolate Of individual feature.
The Distillers' Securities shares dropped
nearly three points at the opening of
business, following the announcement
made late yesterday afternoon that the
management Of the company had decided
TO reduce the quarterly dividend on the
stocks from IA to one-half of l per cent.
but the final quotation for the shares was.
nevertheless. at only a fractional net
recession
Consolidated Gas Reacts.
Consolidated Gas stock reacted a little
from its sharp up-rush yesterday. al
though the character OF the decision rem
deTed by Judge Hough in the United
States District Court in a suit brought
by the company to restrain the operation
OF the So-cent gas law was rightly con
sidered In Wall street TO be more for
reaching and salutary pronouncement
than was commonly estimated yesterday
from the brief summaries OF the decision
that were then published
Transactions in the Reading shares fur
nished, as they have for many days past.
nearly one-fourth Of the days total deal
ings In stocks
Although rates for cabled sterling again
rose to-day. the demand for mail remit
tances Of sterling bills fell of, inasmuch
as the time has now passed when trans
actions of this sort can take place by the
post in time to be of value In the ap-
preaching London yearly settlement
OF as much weight as any single infiu-
ence In the days market was the general
impression that the weekly bank state
ment, due to appear after midday would
make an extremely favorable showing.
and forecasts found expression at one time
that the deficit in the surplus reserve
would be reduced in the large sum OF So
q 10000. Such gUesses were not borne out
by the event although the bank return
was the best exhibit Of its kind that has
been made since the elimination OF the
recent financial disturbance.
Decrease I'm Loans.
There was shown decrease IN the
loans from S9.5a.O0O: an Increase in bank
cash Of S650I0Ge. and a decrease in the
deficit in the surplus reserve. therefore.
OF &.250o0J. These figures indicated plain
IS enough that recuperatve forces IN the
financial situation are steadily progress
ing, even If they are not working with
the great qUickness chat il was at one
time predicted they would. The trust
companies that We're helped through their
difficulties are paying of their loans TO
the banks in a very satisfactory way. and
though local institutions are still com
PEELED 20 send money daily 10 out-of-town
banks. their losses in tnis way are being
moro than made un th-nugh gmld imnorts.