The Cairo bulletin., 1907-10-29
viii Come From Observation-Disclosures
viii BE Stronger Than Ever
Good Effect Of Clearing
House Action.

New York, Oct. 2S.--London prices
on American early and late showed
advances over Saturdays close. The
| London market was strong. Some
| I'll 100000 gold has been engaged for
import so far. The various large cop
Iper selling companies in this country
have cut loose their accumulated
stocks of the metal since the middle
of last week in tremendous volume,
and that means credit abroad which
we need Iron and steel prices in
Germany show some declines. 1t will
be apparent here later Cotton Is
moving, likewise grain and both these
commodities will be exported in in
creasing volume for it is a way to get
money and the banks are finding it
out and iwll buy the bills more read
lily. The practical blanket of clear
ing house certificates at IL of the
principal centers has shown good
results today, 1t has stopped
speculation, given the local bankers
courage and placed the public in
possession OF the true facts Of the sit
uation, for they have been distinctly
told not to lose their heads, and they
will not. he sixty days savings bank
rule stops liquid money drain and
IL an institution is weak enough to
go down when the community is IN.
der the regime of clearing house GER
tificates, then it is a benefit to the
community that its doors are closed.
With the sixty days rule and the GER
tificates, good institutions with the
support of the public will keep their
heads above waters.
The labor scale generally through
out the country will be liquidated and
it will be beneficial to employer and
employee. Some important railroad
meetings are scheduled for this week
on the very subject and when the
lead once taken the majority of roads
will follow suit
AS We stated on two occasions last
week the conditions in this country
underlying the present critical sit
uation are better than the surface ex-
hibit European countries have large
ly liquidated American commitments
they will buy them back they will
do more, they will buy our wheat at
good prices, and as our cotton crop is
moving they will buy say two thirds
of that at fair prices The same rea.
soning applies to copper metal. The
accumulated stocks of iron and steel
are not great and producers can east.
ly adjust themselves without much
cost to lower price, provided the
demand springs up. The general Wall
street public and its banking affilia-
tons have been bearish now for many
months and both bond and stock mar
ket are in a liquidated form. The
majority of American people have
accumulated money in their various
occupations but they have not been
heavily long on stocks individually
The savings banks, the Trust com
panies, and the people were the hold
ers and they have been either COM
PEELED to liquidate or have the ability
to hold commitments. In that event
they will sell at some future day 20
the foreigner and the domestic inyes-
tor. After this present strain is over
the American people will have more
in their business men than
in their politicians and II will be the
former who again brings up the wage
scale and shows the lead TO the in
vestor. The stock and bond market
Is a cash affair pure and simple with
he best houses in the street.