The Cairo bulletin., 1907-04-22
HIGHER LEVEL

lew features, Just now there Is
disposition to await the development
toi new tendencies. The GROWING saa
son for he crops win soon omen ana
thls Wlll be vital factor in Ire c,,,n.
tlEs business preparations and aIar
/ ~ STOCK market operations. There
1 Heie fumorS Of damage to The winta,
"beat crop IN certain sections Of The
country but these were not OF snffE
cleh Importance to affect yalnes
New that speculative activity has
diminished more attention Il beino
Pata 70 Inc general condition IF busi.
ness Opinion In this respect seems
nnch divided Quite number of opg
iiiduslial leaders and financial mag.
mates have been talking business re-.
acuon and their statements have been
supplemented by more or less ~
tenement OH the part of concerns
"hich they represent. A certain de-
gree OF retrenchment in projected
railroad development is inevitable
owing FIRST to the difficulty of raising
new capital ana next 10 the high coef
VI construction, Already. per.
ceptlDie decrease is TO be noted in
building operations. The total ura.
3ects announced in March in orr load.
ihE cities amounted to $54 000 400
iAls year, as compared with S56.0oo
QVQ last year, This is only a small
teerease Of about 3 per cent but il
latlslra es the tendency. A moderate
abatement IN real estate activity
would probably be beneficial as.
pecially IN the department devoted
70 The sale Of cheap lots on the ii.
s'alliient plan to parties who never
'n@nd to build upon on improve tba
X Fppefls which they have purchased
Ihare has als3 been a very decided
cAanse 10 the attitude amongst bank |
eIs towards their customers. Funds
are readily obtainable for the conduct
q regular business operations mon
an accustomed scale. but new enter. |
pfises and engagements are Turned
aside with uniformity that is in
strlking contrast with six or even
'aree months ago Caution is every. |
where dominant in financial circles
AZ the same time II is proner To re-
member that New York is lust now
e9 very center OF the depression. |
Here the future is regarded with
more dist,ust than elsewhere. This
Is Dat natural for the reasons that re-.
'clionary tendencies are first dis.
'tIned al the financial center and
iele exert their FIRST effect. New
ork, moreover, has not yet fully re.
pYered from the effects of overspecn-
allon which brought on the March
rash Those losses fell chiefly upon
ms city From the interior all re-
'olts continue very encouraging
Trade outside o. New York is gener
liy des.fibed as sound and active A
lopetul feeling seems prevalent every
Where and little sympathy is shown
fith the depression in New YolI,
'he question is VIII the optimis,n
i the interior overcome the detection
which prevails in New York. or win
he latter grow ANA spread itself over
ne entire country? II seems hardly
possible that business can continue
n me high pressure basis which has
ievailed for the last few wears
here is no doubt that a moderate
ecesslon in values not merely in So
urties but in commodities also
you'd place the country upon more
table basis Fortunately. specula.
we tendencies have been much re.
trained by our bankers. and this rs
n element chat should give conf.
ence. In the industrial world there
re lew signs Of oveEproduction. and
mould nothing happen 10 check con.
umption and The harvest prove salts. I
'ciory, VIC NAV look for another good (
rsincss season. Another blow how. I
Ner uch as The March collapse in {
tocks. would have a detrimental Of.
cen on trade aad would. no doubt
lmpel a furiher recruitment than
0w seems necessary The mere fact
bat The supply Of new capital has
cen practically exhausted and that
sakcrs are persistently discouraaine
CIV enterprises Will of course. result
! move or less diminished demand
Dr. labor and raw materials. u is too
ariy aowever, rs yet to estimate the
feet Of this influence
One Satisfactory feature was the
iar-h returns Of orr foreign com
,erce. Our expects in that month
ere sl62.o0o.0o5. or about $1,000 900
lore than ia the same period last
ear. Our imports a the same period
ere sr33.ooooeo. or Slo0ooao0 in ex-
'ss Of last year. Tho net result was
% excess of experts of S29.onn.Ooii
gain . nearly SO. n09 600 in fsnc.
bis is an exceedingly satisfactory
wing since. the excess Of exports (
although smaller than last year
as much above the average. and was
alizad in spite Of very large i'm.
)ratious which have only once bseni
ceeded- ln exports The gain was
liedy owing 10 the large shipments
cotton and manufactured product
by shipment of food products show
constantly declining tendencv.
encc we NAV felicitate ourselves