The Cairo bulletin. (Cairo, Ill.) 1???-1928, 1906-09-24
Stocks - Bonds - Cereals
HEAVY GOLD IMPORTATlONS FRMNESS MONEY
MARKET DUE UNPRECEDENTED IN Bus-
NEss-RAlLRoADs REPORT LARGE EARNiNes-sIG
TREASURY SURPLUS.

of the past, and that nothing prevents
a reopening Of the struggle for su.
! piemacy between rival interests ex.
cept that traffic conditions are gener.
ally satisfactory that no one cares TO
take the initiative in impairing them.
/ It is quite certain that we are on the
feve of important changes in the relg
| tons between the great tran. cont
mental routes, and that before long
the railroad map Of the United States
will be largely reconstructed. This
means active times in the future.
The immediate outlook for the
market is somewhat mixed. The same
underlying prosperity continues Our
great railroad system. and big indus.
trails are still reporting large earn.
ings and good profits The era ofb
increased dividends does not yet seem
to have passed. and rumors of i'm.
pending increases in this or taa cor,
poration are st illcEcrent Stocknold.
ers are becoming more and more in
sstent in this respect; feeling iusti.
fed in their demaar3 that they
should have some share in pre- sent
good times The reads have exp md
ed large sums for betterments and i'm
provements out OF earnings and Ia
Dor has also received general recog
milton The stockholder now feels
that his turn has come ami is quite
tired Of being both last and least in
the divi ion of income Increased di.
yidends have been pretty well dis
counted on the Stock Exchange, but |
are still utilized as a bullish argl.
ment The markei remains in the |
control of the big lealers who have
been much less aeeTe- sive since the |
money market developed its recent |
( Possibly they have decided |
70 postpone operations ultil monetary
favor bulish operations
t is quite certain, however, that they
rave not succeeded in dsposing of
my large amounts Of secu flies, and
nat in con equeDCe they will take
lold of the market and endeaVor to
AIRY it to higher level at the first
adorable opportunity. Just now.
he money market interferes with
heir operations, and many of our
eading banks are known to be dis
speculation while leeiti-
nate demands on the money are so
rgent There is no doubt that Sec.
etary Shaw will soon be obliged to
i've relief through release of surplus ,
government funds The Treasury
ow holds surplus of about $4,000 |,
90. which is $4,000 900 more than is
visionary. Action may be deferred ,
ntil the situation Is more pressing. /
lew security issues come out with /
lther unwelcome frequency. some d
Important announcements having
cen made this week and it is /
otceable that offerings are confined
stocks bonds being practically IN. l.
under pres ant conditions b
nportant events seem pending in Y
ilIoad circles, which may exert pro &
lunced effect on the stock market q
ID should be closely watched.
@ holding stocks were well pro Il
ddd with time money with which to a
Try hem, and are therefore, en- u
anched in their position As their "
ldings average far below pre- emf
ices they can afford to take big =
SKIS and every time the market raj.
IS, they feed on, 10 the public n
oughh stocks to satisfy the demand e
d then buy back what they have Il
Id, on the next break In this way %
ay accumulate no aew stock. but al
e profits on their turns reduce the g.
erage cost of their holdings. As u
E cliques sell their stocks. Il gives Sc
I'm a corresponding amoun- of their
ne money TO loan ont on call, so m
that way they are in a position TO =
ltrol the stock market and the
ney market as we'll
HENRY CLEWS.