The Washington herald., 1910-12-18
WALL STREET NEWS
Firmness in Prices Feature
of Day in Market.
CLOSING HOUR SHOWS GAIN
Failure of JudsOn Firm Has Little
Enect on Mnrket-MOney Rates I'm
Somewhat In Days Business-Dry
Goods Imports FAN on Greatly.

New York, Dec. 17.-To-day's security
market, although as duh as it almost
always is on the last day of the week.
was somewhat more interesting than
usual because for the fourth successive
session a hardening tendency IN prices
was visible. In the first of the two
hours Of business. transactions were
limited, as usual. and a number Of stocks
did not open" at all,
But even in this period, various
sIecialties moved upward. such as Ma
tional Biscuit common. Norfolk and
Western common, and Southern Railway
preferred stock. The marlborough pre-
ferred shares were also strong. and il
was evident that the drift Of the general
market even if sluggish. was toward
higher prices. In the last hour this
trend was more pronounced, and nearly
all stocks closed at considerable net
gains.
The failure Of the stock exchange
house OF Judson & Judson was an
nounced, but was without market in
huence. as the firm was a small one
and has for a long time done only a
minimum amount of business. Money
rates during the day were unchanged,
but sterling suffered a little and made
more improbable than before any en-
gaeements Of sold for import for our
account in London on Monday.
Bank Statement Favorable.
The weekly bank statement was more
favorable than recent exhibits. and the
two forms Of the report were less con-
Trajectory than they lately have been.
Both in the average and actual returns,
an increase of well over 100000 was
shown in the bank surplus. In both
forms, too, loans decreased very con-
siderably, and changes in the amount
of cash holdings We're unimportant
Despite the general dizziness of the day
in Wall street and on the stock exchange
there was one announcement that was
fun of significance. and that was the
official statement that imports Of general
merchandise and dry goods at the port
OF New York for the week ending De-
cember 10 were but Sl6.6l3,0OO. compared
with 81, $685. 900 in the same week last
year This statement must be read, of
course, in connection with the general
figures issued by the Bureau of Statistics
during the week of the cOuntry's foreign
trade for the month OF November.
A question of great interest now, of
interest greater than any other that could
be raised. is whether from now on the
econOmiZing process that has set in in
the country will be sufficient to reduce
the heavy volume of large purchases of
merchandise in foreign countries that has
been exhibited for several years back
Despite the supposed handicap of high
wages and high cost Of production here
our exports OF manufactured products
baVe shown a gratifying increase.
Imports show Increase.
Last year in particular these exports
We're large, but they eliminated in the
month of October and were so counter
balanced by increased imports as the
month passed that early in the present
year an actual monthly excess of imports
over exports was shown.
The hope has been strong that this
year a different record will be exhibited,
and circumstances seem TO be tending
strongly toward the likelihood that these
hopes will be realized.
For November our export trade balance.
although slightly less than in October,
was yet 100000, or 100000 more nan
in November last year. and now comes
the statement of import business at the
largest seaport of the country for the
. first week of December. showing that the
movement toward decreasing imports is
still going on There could be no de-
velopment that pointed more definitely
10 better things.