Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-11-24
Buoyant Recovery Marked the
Weekend Dealings.
COSTLY LIQUIDATION ENDS
Bears Impressed With Reports OF
Substantial Relief.
SOME SPECIAL INFLUENCES
Gold Arrivals and Declining Ten
dency Of the Premium on
Currency.
COSTLY LIQUIDATION ENDS
SOME SPECIAL INFLUENCES

NEW YORK November 23.-Tne STOCK
market had quite buoyant recovery TO-
day. Technical conditions were favorable
for this result by reason OF the free ex-
tension of the short interest which has
been made during the week. while various
beiea suered interests were being forced TO
liouidate on painful terms. The uncov-
cred bears were impressed yesterday with
m, that relief mad been secured
nv the interest,". - rressure, which en-
abled them to discount "o costly
liquidation.
The disauietude Of the bears was much
enhanced by this mornings report OF
visit to the White House Of J. PierDont
Morgan. accompanied by influential New
York bankers. There was no pubic
knowledge Of the subject-matter OF the
conference or Of any decisions arrived at,
but the financial district was inclined to
take great encouragement from the man
ner of the consultation and the inference
to be drawn of the advices under which
government policies might be pursued.
Previous to the close of the market in
tiHlatiOns circulated that the bank state
ment- would be of a favorable character,
and this completed the discontinue OF the
bears. There were some special influences,
the five-1oint rise IN General Electric
caused by the declaration of the regular
dividend. proving the line along which
much of the recent apprehension was
played. : &c. - -.
Brooklyn TRANSIT was benefited by some
favorabl comment upon its capitalization
brought out before the public service COM
nilsson The bank statement proved
highly encouraging to the hopes of def
mite turn toward improvement in the sit
uation. This was in saite of a small in
crease in the deficit. The loan contrac-
tion, although moderate, Is the first show
Ing in that direction since the crisis de-
veloped
Decreased Cash Smaller.
The decreaseisin. cash IS smaller than
was indicated by the preliminary esti-
mates, thus proving that the concealed
drain on the banks has come to an end.
Moreover, the belated arrival OF fog
bound steamers carrying heavy shipments
ofsold prevented their consignments from
figuring in the bank statement, even for
one days average.
The days gold arrivals amounted to
aearfy s13,eOo.OeO all of.which will figure
for the full weeks averages in next Sat
ufdayS bank statement. These favorable
features in the bank statement are In
spite of drawing down Of government
deposits in the clearing house banks since
asweek ago of but little less than $1,000
GEO,
The declining tendency Of the premium
on currency is applicable on the improve
nient in the banking position. The inau-
guration of the movement of gold from
Paris to New York direct had an excel
lent effect on foreign sentiment toward
AmeF.can securities The market closed
strong. with but few recessions from the
general advance of l to 4 points.
Bonds were firm. Total sales. par val
ue. 81. $1,000.
United States Is have declined 2h. the
8s ~ and the As 4 per cent In the bid
price on call during the week.