Evening star. [volume] (Washington, D.C.) 1854-1972, 1918-12-29
EVANGELICAL AND OTHERWISE
suggested retaining them until after

suggested retaining them until after
January Al.
had undertaken little window dressing
on its own account yesterday. It has
been many q day since s17.000 shares
have been traded in two hours.
January disbursements will be many
millions and if the Street can secure the
placing of a large part of the cash in
stocks it will yield a good brokerage ac-
| count as well as to inspire speculation in
a market that has become wearied by
the daily sluggishness of action.
| Rumors had it that the government
was replacing cancelled orders in the
equipment line; that some quiescent.
[ furnaces in the iron and steel line
were being blown in: that foreign or
ders for steel were developing; that
the leading rails presented a better
outlook for maintaining dividends and
other favorable gossip anent this and
that stock. The result was evident in
the largest attendance for weeks of
onlookers in brokers' offices and in the
hope that the advertisement will bring
i good returns.
| Loans and discounts increased in
+; New York last week $7,23S,00O and
the excess reserve SIG. SS7.41O to s42.-
O4,340 which is not a large surp us.
considering January payments, which
have been largely provided for, and
| which will <fioW back to the banks in
short order.
Local Securities.
Current values for local securities
have remained remarkably steady
during the past week, no changes of
| Importance in prices being evidenced.
AS rule everything was at about the
best figures with investors ready and
willing to take advantage of any con-
cessions offered.
| After the annual meetings when
something will be known as to re-
turns for the year 1918, the market
! will probably show more activity.
Comment on Saturdays Market.
Nessrs. logan & BRYAN of Chicago
and New York have this to say on
yesterdays stock market:
The action of the market yesterday
in practically all departments was
rather comforting to the state of mind
of those committed to the construc-
advance were some of the railroad
issues. where resiliency was marked
, and offerings in most transportation
shares were very light.
The rather heavy volume of trading
early yesterday in particular issues
was very conspicuous, and, of course,
the meager effect which such opera
tons has on the price tendency in
creased the views that much of the
selling of late has been for taxation
purposes solely AS we approach the
year end q discontinuance of such
operations will be the order of. things
and the turn of the year will un-
doubtedly find many of the afore-
mentioned sellers anxious to reinstate
their holdings.
On this assumption, no doubt. much
of yesterdays buying was based, and
shorts 1ST1 n
duce outstanding commitments.
An additional factor in the buying
movement no doubt was the news
from abroad that the chief executive
is making favorable progress with his
peace program.
S. B. Chaplin & Co., offer this digest
of the situation:
The action of the stock market in
rallying so sharply during the last
hours trading yesterday indicated
local operators over its improved
technical speculative position.
With the subsistence of the recent
pressure of scattered liquidation. the
short interest was left in a some
what exposed condition in SO many
stocks that it offered some induce
| ment to some of the large operators
and bullish traders to work up prices
still further.
As the recent liquidation had been
Wen taken thefe was hot Inuch 1reSn
selling pressure on the market. aside
from what was still in evidence
among belated operators in the way
of selling out some of their stocks
ITO establish losses" on their invest
ment holdings so as to deduct the
amount from personal incomes for the
year on income taxes.
Whlle there were 10 other devel-
opments these much more favorable
technical speculative conditions were
sufficiently effective in inducing a
considerable amount of new buying
by local traders for prospective
| further upturn.
1t was this buying which closed the
! market firm under the load of rail-
road stocks.