The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1910-12-11
WALL STREET NEWS
Principal Stocks Show Adj
vance of Point or More.
STEEL REPORT SATISFACTORY
Untitled Orders Only Slightly Lower
Than on October 3O-OIstinet
Sentiment in Wall street-SmalI In
crease In Actual Surplus.

New, York. Dec 10.-There was to-day
a fairly active continuation OF the
Strength shown in yesterdays stock mar
l,et the principal stocks rising generally
point or even more. with the market
displaying a breadth that has not lately
been noticed in the end Of the week half
session of the stock exchange. The buy
ing that took place was attributed in
many quarters to the partial retirement
OF the room-tradfng short interests in
the market that undoubtedly has been in
creased through the present week.
Sneculators- belonging to the class de-
scflbed have in the main been unfriendly
70 the late rise in prices, holding that the
decline which started after election day
should have gone much further. The
financial situation, however, seems 10 be
in this condition at the moment that
whereas the general public is in no way
disposed to follow excited uprushes in
two or three particular stocks, such as
those made in the rise which eliminated
on November Z.
Public as Purchasers.
They are, on the other hand, inclined
to make purchases after the ten-point
drop, when prices fell below the level
touched at one time last week. Specu-
lators, therefore, who became ultra
bearish several days ago seemed 20 have
discovered that this view of the market
was as Improbable financially as was
that of exceedingly buliishness month
previous.
Renewed discussion to-day OF the de-
cison of the Federal court IN the case
of the government against the anthracite
companies assumed the form in all quar-
tiers that the decision was great vie
tory for the railroad interests. About
the only item of news to-day apart from
the bank statement was the United States
Steel corporations report of untitled or
ders on hand at the end of the month
which made a showing of eco, as tons, as
against 2,Su,949 tons on October 30, ana
315Slo6 tons on September 30. The re-
port was generally considered as being
decidedly better than had been looked
for.
Weekly Reports Interesting.
The weekly reports submitted by the
clearing house and other banks were
very interesting. chiefly for the diver
gence once more shown between the act
uaI and average forms of the return
In the average statement an Increase of
over 100000 in loans. along with de-
crease of s9,S0O.0O0 in cash. resulted in a
decrease of $S.21S,OOO in the bank sur
plus, carrying the surplus down 10 a
little above the legal minimum. But
in the actual return a decrease Of $14,-
24S,000 in loans was shown. and a de-
crease in cash of less than 100000,
This resulted in a small increase in the
actual surplus. Loans OF other banks
were reported as increasing s., 5000 and
the difference between the actual and
3 average statements was undoubtedly
caused by heavy shifting OF loans right
at the end Of the week, not merely to
other banks. but To foreign institutions
The most noteworthy development in
the financial history of the attack has
been the distinct change for the better
in general sentiment in Wall street,
which was attended also with an i'm
provement in the stock market, which
seemed 70 be of more genuine and sub
stantial kind than any which has been
lately noticed.