The Birmingham age-herald., 1905-09-17

ket was due to a report of an offer for the strong showing of it's annual report. Some special demand also continued for the Wabash Issues.
 Total sales of bonds, par value. s1, ,230, 900.
 The great general prosperity of the country has been balanced against the exigencies of the money market as fac tors for consideration in stock operations this week. As the prevailing condition of the money market as reflected in the rates for loans has been tranquil. the prosperity of the country has asserted It's influence to allow prices to be lifted to higher level.
 It is generally agreed that the advance has been due largely to the transactions of the professional class of operations, these transactions including active manip- ulation and the commission houses have complained that the general public holds a1oof. Many brokers have advised con servative courses to their clients owing to the requirements to be met out of the shrinking reserve resources of the banks.
 The trust companies are known to be taking over loans from the banks and foreign money markets have extended credits to New York. It Is supposed also that some western institutions have placed loans in Wall street although the full current of the movement of currency to the interior has been maintained.
 
 markets also Is to advance as shown by Mondays advance in the discount rate of the Imperial bank of Germany and the rise in the open market discounts in London. Paris and Berlin during the week.
 The statistics of this country's for egn trade for August gave comfort to the assumption. that credits were estab- lished abroad to enable the New York Irat to raf addiff0D4f sources for employment at home. The ex- cess of value of exports for that month rose $17, 100000 over that shown in August of last year to s21, 1,627,03S, in spite of rise in value of imports of over sS7,00O. 000 for the same comparative periods. Cotton exports figured largely in this result. But an increase of some ss,000,000 in value of exports of manufacturers must also be allowed for. This growth in manufact- uring exports it is expected will be main- tained The prospect for increase in ex- ports of breadstuffs is also regarded with confidence owing to the favorable home harvests and the reduction of the expect ed available supply from the Russian har- vests. Japanese funds on deposit in New York are an important item in banking resources, and are subject to order for remittance abroad, and are reported to be in course of actual remittance as op portunity offers. There are indications giving rise to an assumption also that a Russian loan when offered will have an important participation in New York. The September crop report which appear ed this week Is regarded as fixing defi- nitely the yield of the grain crops. which now promise an unparalleled yield of corn and a 7o0.00o,000 bushel crop of wheat
 Iron and steel men see promise of a market for the coming year which will absorb a production beyond any prece- dent Railroad officials report a traffic which strains the enormous increase in facilities and equipment, which has been acquired In the past year, and expect no limit to the freight to be moved ex- cept the ability to accommodate that of fering. The bank clearings of the country carry showing of unprecedented trade activity distributed in varying degrees through all the departments of business, end industry The restless disposition of the speculative spirit in the securities market to break fom the restraint of the limited money situation Is regarded as finding its adequate explanation in these conditions.
 Bonds were dull and moved narrowly in sympathy with stocks. The United States 2's declined # per cent while the old 4s advanced K and the new fs 1-4 per cent on call on the week.