The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1908-06-29
Dealt, Of Mr.. Cleveland and Ill
ness Of Mr.. Sherman De
press Securities.
MIR. MORGAN is HOPEFUL
Railroad News Not All Bright,
However, But Money Very
Plentiful.

NEW y DIRK, June 2S.--Evelts bear :
| Ing on financial conditions were of
mixed complication last week and
served so far to countcract each othor
that the securities market moved in q
lEestrlcted circle, returning goftellt to tho
Same situation. The halt in speculative
Re1lXuy Iii characteristic OF the sea-
son Of tho year while the making
OF tho country's crops Is III question.
| Tho national politicai camrfign helps
| to aggravate the seasonable tendency.
The death OF former President Glove
land, and the critical illness OF the Re-
publican candidate for Vice. President.
proved effective influences in further
restraining speculative operations so
Ear as they might be based on reliance
on supposed scertainties Of human nctiv-
tiles.
The comforting of the degree of LII.
D. on ~. Picrpont Morgan BY Yale
University, as recognition OF services
IN helping to ailny the panic of last
October, was read III the financial dis
trict as C promising symptom OF ap-
probation for purely financial services
of an individual, typical OF corporation
OF capital power. q kind of Appreciation
which the moving powers in corpora
lions are disposed to feel themselves
little assured of in the lately prevailing
public temper. Mr.. Morgan's state
mcnt for publication before returning
to Europe also had favorable effect
on sentiment, with its profession OF a
perception that financial conditions in
the United States had improved since
he went abroad some time ago. and Of
confidence that they would continue to
improve.
Counteractins Factor.
A counteracting factor to this finan-
cial influence was the evidence OF
Securities and the wide declines in
prices in that group. Fears We're thus
aroused that some unrevealed enlbar-
rassment confronted the company or
Of the admittedly CUMBERSOME financial
organization of the system. The south.
western railroads, made Vulnerable by
sympathy with this Rock Island move
gestion Of crop damage both to winter
Some Impairment Of the promised
wheat yield has come to be admitted:
genera raj ereS al
though the feverish price. fluctuations
in that staple from technical market
causes somewhat obscured opinion on
the subject.
More hopeful views were entertained
of the iron and steel outlook, owing
to large contracts for steel bars. IN
thu. field. too. opinions were mixed.
and demand for finished product in re.
Spouse to the cut in prices Is reported
hating still. The conflict of views
on the wage scale developed between
the Republic Iron and Steel Company,
and It's employees was regarded with
some apprehension as possibie pre-
sage of a general wage controversy.
From the railroad field come intinla-
tions of problems OF wage disputes
to be faced.
Money Abundant.
Money supplies are superintendent
and cash reserves at the great banks
ing centres OF the world are at al,
unprecedented level. THIS is a nat
ural result of the great ntraction of
circulation from Industrial depression.
The gold outgo from. New York has
ceased with the satisfaction OF the
Berlin requirement for the January
1st settlements. Extra July LIST re-
quirements in prospect at New York
had not the slightest disturbing sf-
feet in the tranquility of the money