The daily morning journal and courier., 1907-02-18

letting, and a currency Telret Dlll that is likely 10 go through congress this week.
 The bulls, justly, tried to make capi- tai out of the placing abroad of the $29, ,00OO00 New Haven bond issue The sale plainly indicates the favorable dis position of foreign investment interests toward our securities when they are of- fered at attractive prices. The trans action is probably the forerunner of other like operations, which will have an important bearing upon our inter- national exchange position. The exchange market has more than ever demonstrated the past week the strong position that we have secured abroad, but the market is quite clearly professional, with selling on the rallies. 1 T. P. Shonts at the Iowa dinner said: 'The situation is a grave one. If the 1 various states continue arbitrarily to reduce rates, as some of them are do- l ing, and the various labor organiza- tions continue to press their demands 1 for increased wages and shorter hours, the next unprecedented crop harvested in this country will be a record-break- ing crop of receiverships." Confidence is factor that is lacking. and, without it, it is impossible to. car " on a campaign flor higher values. The public is suspicious of Wall street, and the corporations pretend that ttley are at a standstill on account of the federal and state legislation against them.
 The syndicate formed in Paris to float the $29,000,000 foreign loan of the New Haven and Hartford Railroad company is not the same group of financiers which handled the Pennsylvania Rail- road company's issue. It is of an in- ternational character, being headed by the Societe Generale, of Paris, which is associated with the Compton National d'Escompte, the Earrings, of London; the Slope company, of Amsterdam; the Disconto Gesellschaft, of Berlin, and the, Warburg company, of Hamburg. The loan will be issued simultaneously in the four countries interested, and Will yield per cent, free of all the government taxes, which will be cover- ed by private arrangement between the bankers and the railroad,
 Some of the Wall street opinions are as follows:
 N. D. Lancaster, of R. A. Lancaster. thinks currency legislation talk is help ing the situation, but that matters will not improve much until congress ad- journs,
 Herbert II, Knox. of Herbert H. Knox & Co.,: T believe the liquidation has been very thorough, and that many dividend paying stocks are at prices that will pay as permanent invest ments.'
 L. B. Wilson,of L. B. Wilson & Co.,: The first definite movement beyond 1 the limits of the range of prices of the past few days may indicate whether we have had only q rally in a declining market or definite turn for the bet ter"
 New York Tribune on Missouri Pa l cifc: Illustrative in significant ways of the desperation to which depression l manipulators are driven is the week exhibit in Missouri Pacific, That stock has been rammed and damned and solo short on representations that are who'll ly and foolishly false. The property is in no distress the Russell Sage estate is not liquidating-all the crowding tales are silly-an-the sneerers temper. arily brave by the fact that George J Gould is absent. Missouri Pacific's dividend is in no danger. Missouri Pa. cifcs market quotation is below intrin. sic value.
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