The Cairo bulletin. (Cairo, Ill.) 1???-1928, 1907-07-04
MORE CONFIDENCE
Characterizes Movements In Stocks
With Adjustment to New condi-
tons Manifest ia Transac-
tons,

New York, July 3, one class Of
high return investment has already
largely disappeared from the mark Ell
/ reference is made to railroad notes us
iusally issued in denomination OF five
! thousand dollars whose purchase Was
the cancelling Of old bills or floating
| Indebtedness and deferring It's cash
payment some three years hence
when bonds could be put out The
ineXt form Of high return investment
with a speculative equity has already
gone into strong hands or Is now ~,
Ing into what might be termed the
richer general public possession re-
| ference is made to first class railroad
Fstocks, and few industrials, also CON
vertible bonds with ii good equity In
prospect The recipients Of the first
enumeration above were large inyes :
ors here, and bankers on both sides
of the Atlantic. The European situa-
ton in its present. liquidating form
is now or will soon be in a position
where American investments which
have have liquidated will be febought
on account of larger return increment
condition and the added confidence
that the European investor has be
come the possessor of in the Interval,
for he is fast becoming aware that
corporate management IN the United
States Is not as Aambuoyant and cor
rupt as some people would like -
mike out We find the market very
much in the same position but at
high level than some week ago when
there was any amount of bad news ami
o great many wanting recession in
recession in price or violent liquida-
ton but ii did not arrive The bull
ish cotton report Of Yesterday affected
not only that maflet but the grain
market as well and today's cables
showing weather conditions in Europe
as being unfaYorablc. This means
that Europe is a bnyer or will be, Of
our stocks and bonds hut Of our corn.
moalties for orr market presents the
mos attractive field 10 The foreign
investor today Very little has been
said of late regarding the benefits THAT
will accrue to railroad property by tho
sioppage of rebates and by the sup
port hal the decisions of the in5er-
STATE commerce commission sill give
TO railroads rates when they once dc
clare them reasonable for buyer and
seller of traffic The strength Ia
steel common has added much TO the
market in the general impression It'll
has made and il really seems that the
mythical figure 20 so glibly prophesie
will be a long time in arriving. The
public paid very little attention TO The
report from Washington that Smeltess
was due for an investigation This at
titude shows tina common sense Is
here and we Know now thai nothing
can be done by even the federal court /
unless il is legally done. sRhieci 10
court review, We are marking M 4
prices in this country of all the goods f,
hat we will sell and The World must /
pay MS 4 fair rate. Conditions of ai- /
luence are such in this country iolay
bat tremendous liquidation does not
produce exhaustion of all the buyiIg
power and compel MS to wait on the
mood OF the foreign buyer We are
him gold. grain. notes anal
'oonCr or later other securities. we
10 not eXpec a Wild uplurn but We
nave thought aud do think has maly
,ood stocks are zoo bow. There is y
general net advance of a point 10 two (
md half over last nights close in the
market now.