The Cairo bulletin. (Cairo, Ill.) 1???-1928, 1905-08-21
BUSINESS SKIES
ARE VERY BRIGHT
HENRY cLEWs SEES NO CLOUDS
TO DISTRACT TRADE.-sTock
MARKET I'M A FERMENT AND
SOMETHING is DOING.
Special to the Bulletin.

Special to the Bulletin
New York, Aug. 20.-The stock mar
ker has this week shown additional
signs of divorcing itself from the con.
sideratiop that conservatism would
seem to prompt; there is the presence
.of enthusiasm in the ar waich takes
no account of practical tests Of val
ues such as returns on investments
and prospective returns on invest
ments; and barring possible adverse
developments that appear daily to be
growing less and less probable, the
financial situation seems to be work
ing toward a period Of imitation.
Market at Fever Heat.
Ii appears no exaggeration to say
that The market S az fever heat; the
shoulders of the large interests are
under it, stimulating 1t, and deals and
rumors OF deals are being used to
foment the situation X is true that
prices are high, but under these con
ditions it would not be surprising if
they should move somewhat higher.
The large interests in the market
themselves recognize the high level;
bur they argue chat conditions also
are high and that the speculative mind
Is SO enthusiastic over the promise Of
material prosperity contained in this
years unprecedented harvests now
virtually past the danger point-that
the time is ripe for a campa gn to
market the securities they acquired
during the collapse following the in
flat5on which eliminated in 1902.
Corn Will Break All Records.
The great crops OF tha country tai
ken altogether. easily promise a per-
iod of uneauale1 agricultural pr3spev-
ity, with the single exception of the
cotton crop; corn, the king of crops
win certainly exceed all previous re-
cords wheat, and hay. and oats, and
barley and rye all promise to be very
close to the record limits II they I'D
mot exceed them; ANA this. in view
Of the impaired crops In Russia ana
elsewhere offers a basis for general
confidence
Mo Extra Session.
The market has not been influenced
50 generally by Individual price move
ments as ii was last week The peace
conference at Portsmouth has made
progress, ana to this extent IS ahour
fulfilling expectations Bur the sig
nificant news of the week.. taking a
llong-range view of the situation, has
been the authoritative Information that
President Roosevelt will not after all
call an extra session of Congress 10
meet Immediately after the N0vem
Der elections for the purpose of con
sidering railroad rate legislation Re
sponsible intimation is also made that
there will be no urgent demand IN
Administration circles for radical tar
iff legislation
Removes Disturbing Factors.
This, for a time at least, removes
two possible influences of acute dis
turbance; it does not mean thar eth
err subject will be summarily dispose
of without action; but promises, in
stead, action in both instances, on con
| seryative lines. to follow adequate ok
animation and discussion, with rhC
generally beneficial results that usual
| ~ follow such sane methods Of con
siderat.on It means, in the first in
stance, that broadminled railroad mei
and broadminded business men vii
he able 10 agree upon logislat on tina
win keep in check the discrmina
Itiqns that have been practiced in tn
past by railroad interests not y
lbroadminded and the fact should no
be overlooked shat the maintenance
Of standard rates of freight by tn
railroads Of the country means a sta
billty in business for merchants an
| means a healthy and increased reN
| enue for the railroads In the cas-
of tariff legislation the necessity fo
drastic action is gradually diminlsl
ing as the successive monthly report
of our foreign commerce are pull
l,shed