The Washington herald., 1912-11-30
Dr. !. a. FLE,lING.


Money was the all-powerful influences
in Wall Street yesterday, even over
shadowing the Balkan and European
news Rates rose from 6 per cent to 2
Der cent.
That stocks stood strongly in the face
of these conditions is sufficient evidence
that weakly held securities have been
very generally llquidated, and that the
people who are carrying the securities
to-day are strong financially and can
and will Go just about as they please
until some more potent influence turns
the tide the other way.
Foreign news was decidedly favorable.
Railway earnings were encouraging,
business was reported excellent. the iron
trade satisfactory, and earnings of some
prominent Western roads surprised the
talent with the extent of their gains.
The rise in Rubber common of four points
was one OF .,,.s sensations of the street. No
one knew any reason why Rubber should
move up, but within the first hour 1t
showed remarkable strength, and in the
second hour extended its improvement
and held the advance firmly. Some of
the faeetious ones declared that the foot
ball season was al an end. and that they
had quit kicking rubber around" but
no tangible excuse for the gain was ad-
vsnced
General Electric acted much as did
Rubber, General Electric rose on In
creased earnings, the gain being IA
points.
Despite the duIIness. it was a good,
strong market, the especial weakness
being in Paper Bag. four points; Writing
Paper, Corn Products preferred, and
Great Northern Ore.
None OF the railroad stocks were really
weak, but Reading second preferred.
Financial Washington is enjoying a
comparative respite from all evidences
OF activity and will probably continue to
maintain present conditions until the
advent Of December, perhaps a little
longer.
There is an excellent demand for
money and banks are attending to the
wants of their customers, but that is
about ali. Rates are very strong, with
bankers picking their loans rather more
carefully than usual.
Collateral loans are scarce, a matter
easily accounted for by the continued
neglect in the stock market. Nearly
$4,000 will be turned loose in interest
and dividend in the next few days. but
this sum will not be reinvested so long
as the present mood is on investors.
The session of Congress cannot come
too soon to suit the financial interests
of Washington.
Every one feels that there will be a
probe into local securities, that perhaps
there may be an order to the utilities
corporations to get together in the in
tcrest Of better service to the people.
Under the circumstances, the sooner
the attitude of the lawmakers is shown
the better.
Investors feel that their rights will
be protected. come what will
No better evidence of this can be
found than in the indifference of the
average investor to the trend of values
10 lower figures. No pressure is no.
uced, the offerings do not increase from
DAY to day, and investors appear per-
fectly willing to go into December and,
If need be, 1919 holding on to their Sc
curities.
The opposition that has developed to
tl,e Washington Utilities Company and
the plans and aims of its promoters is
but an evidence of the way that citizens
associations, press, pulpits, and District
authorities would welcome any plan for
4 union Of utilities of Washington.
No plea could be made that would
bring about a combination; no argument
advanced that would secure the right