The Cairo bulletin., 1907-09-04
n Home Market, With Improved
Sentiment Abroad Toward Amer
lean Paper.

| New York, Sept. 3.-The ayerag,
street view OF the stock market an,
| that after surveying the bank state
| ment last week and noting the small
decrease in loans was that stocks
| should be on the advance. This view
was followed with but little effect OF
prices for there were other ana
stronger undercurrents, actnating val
ties. The foreign situation has clear
cd very much; money is easy in Lon
don; the Berlin tension seems to be
|lessening, Paris is less skeptical and
is much more assured from the memo
randum and August 81. There can
be little doubt that American financial
bills with the proper collateral have
found an easier berth of late in Eng
off this market, and it should be re
peated in the case of New York later
on The time money market here, il
you have the proper collateral, is cas-,
Ter: in fact quite perceptibly so over
last weeks figures from private nego-
tation. The principal individual top
and they are unsettled that of Alton
immunity is protracted until the oath
instant, that of Interborough-M Metro
politan-and what they arc going to
do and how they are going to do it,
50 far as the street is concerned, Is
still in embryo, though the intimation
is given out today that everybody has
guessed wrong, and that they are not
a transportation company, but bust
ness organization, organized under
the business act Of this state, and that
their books cannot be examined into
by commission which only has an-
thority over traction companies. This
is novel and very neat. Copper met
al has finally arrived at 18c. a selling
price for the big companies, and the
question is, will it move in volume at
that figure; If it follows, the lead Of
zig iron and other commodities, 1t
win not, because the time, seems TO
be past when anybody can set a price
On raw material and make somebody
else take it. The law of supply and
demand seems again operative The
Hill roads were strong today, because
there Is an important meeting In DC
tober when the plan is TO be forth
Of taking the subsidiary and
with all liens attached to the parent
No one knows exactly what
this means, because of all close cor
as regard information, the
Fill roads are par excellence, Ey-
uorts of grain even at those high fig
ures are being accomplished, and II
they mean a very decided
credit to this country, and it is
thought that they will boom, for the
situation abroad is bad.
The market at the close is over a
Point and one-half over that yester-
day, which was also an advance on
the day before.
While we look for much better
prices during the course OF the next
sixty days, there are too many bear
ish factors overhangilg the immedi'
ate situation to expect any further up
ward movement. The beginning OF
the taking of testimony in the Stand
ard Oil case today and probably early
of a receiver in the IN
Met matter will doubtless
cause a chill to come over the market,
which will find the bears ready to
attack stocks in order to cover at
more advantageous levels. There is
y large scattering bull following in
The market now, so that the import
mt interests would not likely feel in
rlined to resist the bearish efforts.
which would have a tendency to wipe
,ut this. and consequently make a
better basis for an advance. We
y ould not advise short selling, but
think intending buyers should exer-
else patience and wait a reaction OF
three or four points in the leading
stocks before buying Purchases,
however. may be made iwth conf
lence among the good stocks gener-
ally and the better class of railroads.
and especially roads which have ev-
Ply reason to sell very mrch higher
On such break we would particular
~ recommend purchases of such is
sues as the Hartman and Hill stocks
Atchison. st. Paul. Reading. p. & o.,
D. & H., l.. & n. Copper while some
Of the lower priced railroads viii
prove attractive TO those who can NJ
lord 60 wait for their profits.