The Washington herald., 1913-12-24

now Of profit-taking. The extent to which
the whole business of the country has
become dependent on politics is shown
by the anxiety with which every ex-
preston of opinion from Washington Is
followed. The outlook is better, but
trade conditions will still bear very close
watching while current railroad earnings
are likely to be rather discouraging.
The market is undergoing a moderate
and natural reaction. The advance in
the last three or four days has been
quite material and a slowing down is
only to be expected. II may be that the
market win stay like this or possibly even
be little lower for a few days, but 1
do not believe II will go down very much
and expect to see it higher later on.
N. L. Carpenter & Co.-The stock mar
ket is responding to the new currency
bill in a manner that is most encourag-
ing to the holders of securities. This
you will find to be one of the most
favorable factors on the stock market
We have had I'm a long time The pres
ent administration is aware that a con-
servative attitude towards big business
will restore confidence and I understand
they will do all in their power to bring
about these results. In our opinion the
present advance is but the beginning Of
prolonged upward movement
Hartman & Co.-Iondon prices show
fractional irregularity. Europe did not
respond with the same enthusiasm to the
better sentiment shown here yesterday,
but as usual will buy at higher figures
later on. Tho shorts have been placed
where there is little comfort in their
present position, and while the rise has
so far been in part accomplished at their
expense. II has also shown much real in
vestment buying. There is notable abb
sence Of the selling of support stock
bought in the weakness of the past
month, il looks like higher prices all
along the line, but with the usual re-
cessions Of a broadening market. Copper
looks good and Reading, Union Pacific,
and Steel are all purchases on every
dip.
W. B. HIbbs & Co.-PredIctions OF very
favorable developments next month are
persistently circulating.
Union and Reading are looked upon by
houses as the best specula-
tive purchases upon all reactions until
the end OF the year at least
Evidence is coming TO hand Of bullish
activity of the smaller pools. Promise
OF easier money is said to have been
given.
The administration is said TO be look
ing now toward fhe 1914 fall elections and
on account OF same will do all it can
TO revive business.
The most conservative sources Of the
street are now taking the stand that
while II would be injudicious to make
extended commitments, more aggressive
bullish positions are justified.
Southern Pacific is understood TO have
a very large professional shortage out
standing. Many bear stops have been
dislodged.
Good buying is reported in Great North
ern. Erie first, and some of the preferred
stocks of Southeastern railroads. which
latter roads Will be benefited by the big
cotton crop.
Rumors are current of negotiations for
private settlement by shorts in Steel
common.
The market continues TO act better than
for months and gives every indication
that this advance will go still farther
Reactions are in order. but stocks bought
on such reactions will probably show
profits and it looks as il the long side
was the side to stick to for the time
being.