The Cairo bulletin. (Cairo, Ill.) 1???-1928, 1907-11-08
BANK. OF GERMANY
Expected to Raise Rate Soof1--Gov
eminent Trying to Relieve
Interior Tension.
Bartlett, Frazier & Carrington.l

I II
New York, NOV. THE Bank Of
Germany may increase it's rate tomorr
row or Monday, The Bank Of France
increased it's rate 4 per cent today
latter shipping some million dollars tol
London in gold. This bank rarely
raises its rate and it is taken as a
protective measure against the Ger
man markets. The Bank OF England
|rate at per cent ii It follows that
LOT nine per cent "a years ago In 1873
in it's effect will draw gold from all
quarters to London and viii also
mark the high pressure point IN
disturbed conditions in both years.
The proportion Of reserve to liabili'
ties now some 10 per cent below All
eight year average The Bank Of
Bengal also raised its rate and the,
Bank of Bombay likewise The Y. NJ
Government is doing its best TO aid
ever the movement of grain In the
northwest and cotton in the south and
| the tension at interior points Wher-
ever it is possible Our call money
rate. on the board opened at twenty
rer cent and Is now per cent. There
was some foreign selling owing TO the
above mentioned bank rates In the
early morning and tonight our stock
market became dull but there Is very
| little speculative trading in stocks.
Speculative commitments have like.
wise been largely eliminated from the
produce markets and all commodity
markets have shown the effects OF
high money. Iron and steel are
rapidly adjusting themselves to con
ditious. There has been some I'm.
Iprovement in the demand for railroad
notes. New York City bonds also adj
yanced today on the board and as our
board Is a world market, this ten.
dency shows up ray of hope. There
have been failures in the commercial
lines in New England and various
smaller financial institutions over the
country. These win continue from
time to time for after period of pros
lperity many businesses find that they
They are economically unsound. AT
Ie6out half hour before the close the
majority OF stocks on the board
showed declines many Of them over
La point from last nights close and
the late London market was also
weak. Liquidation in specific issues
crops out from time to time owing to
Especial causes. For instance. that IN
Canadian Pacific The L. S. steel
company listed thirty more million
bonds. ostensibly these will be used
Ito cover the T. c. |. purchase. The
time money market seems to have Its
source of offerings rather from for
eign caital or large individual loaners
Twin consider stock exchange collat
eral at these figures at so cents or
the dollar very good security. we
think here in New York that our con
ditions are improving and we believe
Improvement will soon show that IL Is
spreading over the country. But Il
can be asserted without fear or con
ltradiction that these are times fol-
the investor and not FOR the specu
lator. for the world tendency ON thu
? money rate is to advance and thai
usually means that equities go out tn
: door and interest charge eiemen
= lure and simple remains In all thing
a stocks. bonds. real estate, CONNER
toal business and all raw materials
5 For this reason we cite New Yorl
r CITY bonds and railroad notes. Th'
lformer must go up and stay up befor.
ali is well and the latter must b.
turned into permanent form of capt
= tai. Il 8