The Cairo bulletin., 1906-06-11
BUYERS.
General Conditions Continue Excellent
Outside MARKET and
Favor Holders.
Special BY Letter.


New York, June o.-'rhe stock MAJ
ket is in rather an unusual condition
lNhile sellers are exceedingly optimis
nc, buyers are conservative anc NOR,
or less critical General condition
continue excellent outside Of the stocl
market. and are much in favor of hold
ers The local monetary situation fol
Instance, steadily improves. Funds are
returning from the interior and larg,
amounts fully $l3 000.oO0 thus far
nave been sent back from San Fran
CISCO, so that our bank reserves oupht
20 show rising tendency Call loans
nave consequently been easy. indica
| ing better supply of money for i'm.
mediate needs, although time money
IS sun held at fairly good rates In
the foreign markets easy condition
also obtain, and the outlook is for a
continuance of these favorable condi.
tons. Nearly all unusual obligations
nave been satisfied in Paris and Lon
don, and the situation there is favor
able 10 further operations on Ameri-
can account should conditions remain
as satisfactory as at present. In gen
era the outlook abroad is cheerful
ana 1t is quite probable that The for
eign markets would expend their ac-
commodations 10 sound American nro.
Jecls If called upon. No doubt MANY
OF our early maturing obligations will
be renewed without difficulty
The American business situation is
eminently satisfactory Crop prospects
thus far are certainly encouraging
A fine winter wheat crop is practically
assured and good prices will be secur-
ed by the farmer. other grain crops
also promise well at this date. al
though corn planting is a trife late. A
moderate Increase in the cotton crop -
also anticipated an dthe Southern
planter Is justified IN expecting an
other profitable season. All over the
United States the agricultural class
es are enjoying very unusual prosper |
NY through the good prices obtained
Tor their products. This should assure
he country another good fall and win |
Ter trade. Reports from large bust |
less houses in the West are exceeding.
y encouraging in this respect. No
complaints are heard about over.sup.
'lies in the hands of distributors; and H
Vhile prices are high, the fact does
ot yer appear TO have had any mark. II
q restraint upon demand. Should II
resent promises. therefore, he full H
lied we may anticipate another good n
eason both for the railroads and The
reat industrial concerns.
Railroad earnings continue TO show II
beral gains, the totals for the fourth
eek in May of "A roads showing a Il
am OF about - per cent over last I
ear These are rather surprising |
aims considering that May earnings
some of the important lines must
ave been considerably diminished by
lie coal strike. shipments of anthracite |
mat month being only 250, 900 tons =
sainst 100000 tons in MAY. 1905.
Tearing houses returns at the LEADING
lies show very moderate gains. the
tai last week being about | per cent
eater Than year ago. This Is due
lieiiy to a large decline az New YORK
here speculation is much less active
an year ago. In many of the inter.
r cities. especially in the West it is
'tieed that bank clearings still main.
IN good average over last vea~
loiher bright spot in the general sit
ZION is the iron and steel trade. The r
mand for all sorts of iron prodnts
nlinue remarkably heavy and there
no sign whatever of abatement.
" months to come the railroads
llch consume fully 90 per cent of 7
e nations products. are going TO be d
avy buyers of iron and steel not
~ Tor renewals but for very unusual
lounts of new mileage. The steel
j product for 1906 is oversold and Il.
iers for over 100000 tons are al Cl
ldy on the books for 1907. WhhIJ
nh satisfactory conditions in the i'm. r
RANT departments Of industry Just
ted II Is impossible to be pessimls.
regarding the future. AZ
Within the stock market. conditions ui
not so eminently satisfactory. ia
me Of the encouraging features
1ve alluded to have been well dis
lnted. Prices are exceedingly high:
high, in fact. that investors are
rushing for stocks whe nthey can
ure more profitable employment for
ir money in other directions. An
er deterrent feature is the large
sent and prospective increase in the
ply Of new securities. The bond
rket is already badly cOngested
h new issues which investors will
take until money market condi- Ca
Is improve. Al the same time Il Is 81
! known that the railroads will be
ged 10 raise considerable amounts
new capital during the next few r
ks. either through new stock and 4