The Cairo bulletin., 1907-09-28
NOT MUCH CHANGE
In Stock and Money Situation-Cur
rency Movement to Interior Re-
garded as Weawening Factor.

New York, eSpt 27-The move
Iment of currency to the interior
shows a distinct loss this week and
the prospect for the bank statement
are not cheerful, II thel oans do not
come down. Grain and cotton are
moving, the former in extremely
large volume from Chicago. This will
act as an offset Gloom seems sud
denly to have settled over Pittsburg.
! Closing down of Bessemer mills and
price cutting rumors are prevalent.
/ In the iron and steel industries, as
| We'll as in Copper, reduced production
| heightens the net cost per unit and
ii is now authoritatively stated that
the market price of Copper and the
cost of production at Butte are about
one and the same. This simply means
that il the demand does not spring up,
then that large element of labor cost
must come down. This may mean dis
agreeable results in the Copper as
well as in other fields, but it is com
ing and it is the only way out OF the
dilemma There was another cut In
copper metal on the exchange and
sales reported below the large pro-
ducer prices. Various railroads that
run to or are interdependent ON corn,
state conditions show the effects Of
prospective shortage in that crop
from frost. London was also selling
~. IL
manys position Is slightly better this
week and that of Paris trine more
so. Foreign buying Of American Sc
curities is negligible in this market,
they have troubles to adjust them
selves and have a large quantity of
grain supplies to buy from us before
the year is out SO their commitments
in the investment market are not ex-
tensive This market has been pro-
fessional for several days. up one day
and down the next, with very few
people In it except some plungers who
are quite shrewd guessers. The pub
lis have the industrial stocks, the
banks have the bonds and the collat-
era loans on the better class of rail
roads, brokerage offices have time |
money and very few long stocks for
customers. Time money market Is |
not at all easy for commercial cred |
it's. The call money market is going |
up on account of October disburse-
ments, commodity prices in the met
ais have shrunk in price already and
cuts In the tin market were in evi.
lence today as well as iron. The
banks through the west and south are
quite busy with the crops and are
loaded up with any amount of local
specialtes which usually means long
lot be lquidated. Politics are also
said to be on the verge of being in
eresting again and the market has
gone up quite a good deal since An
gust 18th, when every body was try
ng to liquidate, If these are facts
'elatiyely, what is the conclusion?
Fhe banks must liquidate and indus
rial situation or it never will get
we'll. In the meantime, the public
will gradually absorb the investment
market in small allotments and the
better class of railroads will continue
o litigate their rights in the courts
md endeavor to pay dividends. The
'ich roads no doubt will do 1t
through the crop movement time aud
perhaps after, but it is hazardous to
jrophesy about the weak condition
1ity bonds held fairly well today as
we'll as L. p. conyertibles and steels
we're sold in volume, likewise other