The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1909-12-12
MARKET SITUATION
IS MORE HOPEFUL
Money Is Working Easier.
Public Holds Aloof-Dif-
hculties in the Way.

/ NEW YORK, Dec I2-Tndirauons I'm
/ the stock market are generally cCusid-
cred more hopeful, and the prevailing
/ sentiment in security circles is that
/ rather better prices viii soon be estab-
Iished. The strongest argument against
! the realization of their expectations is
found in the fact that il may not be the
plan of the financial powers that bc 20
advance values much higher at this
time. But there are many who take
less favorable view. Wall Street breath
cd easier Immediately after the Presi-
dents message had been made public.
10 was expected that he would recon-
mend radical changes i'm connection with
corporate control ana I'm connection with
forthcoming issues OF securities. The
trend toward economy ga the conduct OF
the affairs OF the Government, apparent
iy one of the strongest policies OF the
Administration, met with "a hearty re-
Spouse from the people, already burden
ed with the very high prices that pre-
vail for the actual necessities of life.
lt is not 20 be Inferred that the Prcsi-
dent has changed his mind regarding
the adViSa Dllty OF recommending
changes in the Interstate commerce law,
giving more power to the commission,
or that he does not believe in the regu-
latlon i'm some manner of corporate cap
ltalzauon, perhaps fashioned after the
York, but these matters are considered
OF such vital Importance that they are
90 be made the object of special mes
sage. one thing that is taken for grant
ed on the Street is that the President
VIII not, can not, recommend any
amendments to the Sherman antitrust
law, unless the Standard OH decision is
set aside.
Money Becoming Easier.
Another fact that gave confidence TO
Wall Street was the promise Of easier
money The Bank Of England after a
long period of nursing it's reserve and
advancing the rate Of discount at
time when this procedure is unusual
has made a reduction.
II may make another this week in
Wnlcn the bulls would be further en-
Outraged The one reduction p of
per cent at once removed an fear of
gold exports at this time Our own
money market is gradually working cas-
Ter. the return flow from the country
and the coming out of dividend and in
terest payments is helping the situation.
The bank statement yesterday was sat
iSfaCtOTy.
Because OF the nCrrOwncss Of the stock
speculation and the opportunities offer
ed for quick action in the cotton market
many Of the spectators We're induced
20 take their chances i'm the fluffy mar
ket and il on the bull side they have
made morcy. I'm any event they have
found plenty of action.
Specialties Prominent
Specialties have played prominent
part i'm the weeks operations and win
likely continue to develop and become
helpful aids TO holding stocks generally.
At times when the volume of trad-
ing is very light and the indications
seem to favor a bear raid a streak of
activity in one stock viii save the day
Last week katy" turned from 4T5s to
80 from Wednesday 10 Thursday and
the sales Increased very largely On
Thursday Norfolk and Western turned
from "a 5000 share contributor 20 the ac-
tivity to Il 5000 share trader Iu turn
Central Leather. New York Central
Reading and United States steel have
taken up the burden o. the mauiDula-
tors and controllers OF the market and
have been responsible for giving the
market more activity and steadvlng 20
spleHdidly. story that 10000 shares
of Steel common had been placed with
Paris investors gave that stock strong
clOsinEE Reading can always be de-
pended on to come back whenever the
bears get 70 down, and it has frequently
saved the day.
Straw