The Cairo bulletin. (Cairo, Ill.) 1???-1928, 1905-12-04

I ket situation Is rot entirely sat;fa,
| tore While outside conditions W,t
few exceptions continue cncouraglnl
| the technical situation OF The mQ7kd
y one that 10 say tIa loAst excite
Goibt The plungin2 operations N cel
tan stocks SUCH rs Tcanes: &c Goa
and iron ANA the reaCticnafy tender
cfes 81 utnc" securities such MS Roc
Island Illustrate the rec of sharp di.
elimination. Although general condi
tiohs are sound and sall, factory lher,
is q remarkable absence of 5ltllsh nc
tiyily among strong and conservative
and leading banking interests. The lat
Ter may be callpl stand alters" ant
are naturally nor aycrse to seeing bet
ter prices for Investments, bnt tAci'
ahtonce from act W pariicipa ion IL
many OF The rceeat stock market
Operations Il al least suggestive Hers
ami there stocks have been singled
ont and pushed Up IL rnp-lnaYy prices
by the plunging operations Of a few
very bold and rich operators Needle S
alone by the buyer Of ordinary means
and information. particularly as there
are indications thar some Of the pools
in the active stocks have been sacu-
/ ring n port on Of the very attractive
llToiits which have boon offered to
hen, notably in The ccalers which
| have declined without any oIher ap.
parent canse than Iquidat on
Little regard has been paid to The
limitations Of inc money market Bank
reserves are still low and loans HIGH,
50 thar The margin continues slender
on which 10 ooducr any bull campaign
of Importance. This probably explains
why the market leaders select one
stock At a time for advancement in
preference to engineering general
advance movement win CHI wou
quickly fall to pieces under existing
monetary conditions A favorable fea-
tire was the placing cl the Japanese
loan, hut IL must be remembered that |
only small portion OF these suhaclip. !
tons falls due in New York, aid the |
period OF payment Il extended until \
next Marcn, when the r,eEs Of none. /
taly stringency will be dimin she'd I
Funds are still wanted al the inferior /
owing 10 the activity Of bu sineas ia I
That section, and Nc aaall not BE- en-
Iifcly "Gi,t OF The woods" SO far as the
local market is oneerned until after
he December ana January dishuree
nlants, which win be much largcr
han usual Tho Internal onal money
market is also a source OF donh' If +
lot anxiety Russia is still disturb
ng issue, since no one can at present
crsea the outcome of chaotic condi
ions in that empire for, while he
new issue Of bonds has been
ndehn tely postponed, fore an bank
rs remain exposed to the necessity
# supporting Russian bonds as a ma
or of seli-interest in the event of
eailious consequences accompanying
he revolution, Berlin. II must also BE- !
has boon considerably {
by Misrepresentation in G r ]
nan indusrials. With Parts and Rer, |
n therefore fully occup ed in looking
fter their own immediate self-praser-
alton, and London not by any NEAR n
versupplied with funds, il is evident +
rat New York will not be liable to
acure any great amount Of monetary
ssi lance from abroad until real i'm
rovcment develops in the condi.ion
afCrred 10.
The tue course 4 improvement
yer here would he further iiGu da
Al on in stocks ana in othcr specula-
sc operations Yet no important liqni'
ition H. IN sight or oven anticipated
nil speculation collarsca o. some.
ing else happens 10 change The .
icculative temper 81 pros nj the lat
y is sing rapidly. and il aacs- I
onahlc as 20 how far IL wonid be
ls,iblc 10 restrain H. Apparently we
q running into period OF blind =,
whore men arc ready to ACT =, -
.air.t their own best reason. How |
ng this win lasi cannot az present -,
determ ned. but no settled change
ems probable so long q. general
iainefs conditions rcmo n saijsfac
ry. and quite possibly This viii con n
lua until pcculation breaks down m
rough iis own -heer Ky Repors q
Din fam. mine ana MI ccufup "a,
pst natorng Nearly all are finding =,
profitable market for every hing
cy can produce. There Is no over
yet in ght AMI were il tr
r for The disturbing influence OF nm 90
o speculation present current pros
riiy might run smoothly for an in -
finite period without any obstrnc
N. In consequ nee OF these condi-
rs values on the stock exchange are
pr ed to sharp Inclination Much
Iiyity has been shown. particularly =.
a few 81 ques. some OF which arc =
y heavily loaded with securities
owing q large profit and which =
RE- sarily viii be unloaded al he :,
It good opportunity. u j. evident u
Is. l.