The morning journal-courier. (New Haven, Conn.) 1907-1913, 1908-04-13
Developments Of Past Week in
Favor of Values Of
Securities.
ERIE IN THE SPOT LIGHT
No Marked Influence from Side of
Business and Traffic
Adylccs.

Developments last week were in favor
oil values Of securities and prices re-
sponded, but in a sluggish and irregular
fashion. Great interest centered in the
working out of the Erie financial set
Element and while underlying conf
dence was general that the settlement
would be effected the manner of its
accomplishment came as surprise
and afforded abundant food for wide
conjecture over the motives and plans
underlying the action followed.
r. II. Harrlman's advance OF funds
Ia the Erie was most interesting In the
light OF his far-rcaching interests in
tho railroad-system Of the whole coun-
try The possible bearing Of the Erie
transaction on the relations Of those
interests is canvassed with keen inter-
est. The subject is invested with an inn
portance In the estimation of the
financial public extending far beyond
the immediate affairs Of the Erie IT.
self.
The publication Of the April first con-
ditlon of the winter wheat and rye
crops by the department Of agriculture
was markedly reassurng, owing to the
high percentage of condition reported
for the winter wheat crop and the
large crop indicated on the basis of
that condition. The years crop yields
are looked upon as vital element in
the improvement; Of the depression into
which business has been thrown and
the course Of the growth ana the har-
vest will be followed closely by the
speculative markets throughout its pc
Rod
No marked influence was pcrccptible
In the securities market from the side
of business and traffic advices. Reports
OF railroad officials were moderately
hopeful In tone. but they had little act
ual increase of traffic to report and re-
turns of earnings still show heavy re-
ductions from the corresponding Pc
RODS of a year ago as well as for
several years preceding. The price OF
copper has declined again and com.
hlnation Of stocks Is complained Of
Orders for steel productions show re.
eeseions from the level of the early
part Of March and the iron market Is
called stagnant. Persistent rumors OF
an intended cut in prices of steel pro.
ducts have elected protestations OF
the determination of the allied inter.
ests In the trade to maintain prices
Public discussion shows some mixture
OF opinion In favor of a cut in prices
as the best means of revival of de.
mand and activity in production.
The investment situation shows some
signs Of Improvement. Money continue,
easy and difficult to place IN time loans
despite prospects OF United States
treasury Withdrawals of government
deposits from the. banks and posi-
bilitS Of some outgo of gold to France
In London the heavy over subscription
10 London county council loan is re-
garded as evidence of the abundance
OF resources available for investment
The Erie settlement removes a repres
sive factor from the Investment situa
ton. The bringing out of the Mexican
railroad merger, with participation b.
influential bankers and the detcrmln
ation Of the Intcrborough-M etropoll
tan to issue bonds instead of shor
term notes were significant Of som
growth Of confidence In the invest
ment prospect. The bond division o
the stock continued dull and irregular