Evening star. [volume] (Washington, D.C.) 1854-1972, 1933-11-26
IMPRESSIVE TONE
SHOWN BY STOCKS
DESPITE DEBATES
Steadiness in Some Sections
Has Expanded Into I'M
provement.
BY CHARLES w. STORM,

Editor. the News Service of Wall Street.
NEW YORK, November 25.-While
the controversy over the monetary ques-
ton has had a depressing influence on
sentiment, the stock market continues
to weather the storm with significant
firness. In some places this Steadiness
has expanded INTO impressive improve
nent.
The bond market had been rejecting
the unfavorable effects of the admins
trationS monetary policy with de-
Ginning tendency. 1t is now considered
significant that on Friday the general
market for high-grade bonds showed
marked improvement for the first time
in weeks
The only explanation of the strength
of the stock market, despite the pessi-
mistic representations of the hard
morey" interests, is that because Of
uncertainty over the dollar many people
believe their funds will be safer in good
seasoned stocks. This opinion would
seem to be shared by two large bank
ing institutions in the financial district
which are now advising clients to in
vest their money in stocks.
Business on Mend.
Inquiry among some of the biggest
brokerage houses also reveals that many
wealthy purchasers have been buving
substantial amounts of stocks which
would profit most from currency inf1a-
in prices of commodities.
In all this there is no question that
the buying of stocks has been of a
character considered better than the
selling
The financial district will not admit
there has been improvement in general
business but the reports of earnings
being issued by corporations and the
resumption and increases Of dividends
by important leading companies in their
respective industries furnish conclusive
evidence of betterment
Retail and department store bust
ness also is reported to be manifesting
impressive improvement and the pub
lie soon will begin to hear more IA
vorable reports relative to the Christ
mas trade which has just started. With
approximately 100000 more people
back to work compared with year
ago, the holiday business Is expected
to reflect this fact favorably.
Expansion in business also Is shown
in the car loadings being reported by
the railroads.
Dollar Flight Stops.
The flight of the dollar, to which so
much Importance has been attached
recently, and which was said to be due
to apprehension, was curbed consld-
erably the last week, when sterling ex-
change and French francs declined
sharply.
While foreign currencies were ad-
vancing and the dollar, as represented
by these external currencies, was de-
preciating it accelerated the rush of
American capital in the form OF for
eign currencies and securities. Once
foreign exchange began to decline those
who had exchanged their dollars began
to switch again.
banking against currency imitation has
become highly concentrated. The
opinion is growing that one of the i'm
create sentiment which will act as
backf1re against an imitation conhagra-
tion on the part of Congress.
1t is expected in the Street that mo-
bilization of the sound money advo-
Gates will have reached its peak by the
end of the year. on the eve of the con-
vening of Congress.
Action of the securities market the
latter part of the week seemed to in
dictate clearly that while important
business and banking interests were
loud against continuance of the admin
istration's monetary plan, they be-
lieved stocks a good refuge for money.
Copyright, 1888. by North American News