The Birmingham age-herald., 1908-03-16
TRADE OUTLOOK GROWS BRIGHTER Prevailing Opinion Reflects h.
 creased Confidence IRON AND STEEL ACTIVE Declining Money Rates Here and Abroad Are an Element In the Sit uation-stocks Show Strong
 Advance.
IRON AND STEEL ACTIVE

New York, March 15.-The prevailing opinion reflected in the financial district last week was of increased confidence that the condition of affairs was mend ing. Evidences were not universal that contraction had run it's course, but from fields that were considered most signifi- cant the signs of betterment were ac- cepted as testimony that the situation was shaping towards improvement.
 Figures compiled by the American Rail- way association of the number of idle freight cars showed progressive reduc- tion for the last two fortnightly returns These figures were highly influential in shaping opinion on the general situation Scattering reports of resumption of work by factories which had suspended or largely reduced operations during the depth of the depression. although mixed with evidence of further curtaiment in other directions, were a cheering factor
 Especially in the iron and steel trade the reports of reopenings were notable. A recovery in the price of copper, which had been falling since the decision to reopen tllc DulLt COppSi 6dNC SOHic reinsurance to the confidence in improve ment in that trade which was expressed in the reopening in Montana
 Declining money rates here and abroad were an element in the situation and the discrepancy in money rates here and in Europe induced some investment of for eign funds In New York. This was most ly confined to high grade mortgage se- curities and to some takings of mercantile paper.
 In Stock Market.
 Buying for foreien Tt was percep- tible, however, in he market and the presence in f' lpfsati ss sornr of the most in9ueatla american finan- ciers caused thJ suuposfi on that foreign buying of stooi was not unrelated to this circumsta( e pl, easing of the money marl<etj ld the firing of activity in stocks broJ ,at into consideration the subject of fiF aeial needs of the great corporations h,ch remain unsupplied and which instIre attempts to float new is- sues of Tecur leg h the near future
 The. iarls f5r exsting bonds was studie1 tof 7ssoera Q reflection of this improvemei t4a eneral bond market, but with fast so ewhat disappointing. The bond ka. set ked breadth and the prices at fe h ,oned bonds are still selling dd Rl.t HHaE a propitious condition for the offering new securities
 NeH lssnse Contemplated.
 The Upward ma ement inaugurated Tn the stoo narfet was under some sus- picion ( being f1stered by the larger banking an anaa ial powers for the pur- pose of pr Aai BS the way for contem- plated a ef sss les This did not deprive the mcI.et lt of a cheering influence on financiel stutinfnt.
 The adv u1ee T stocks was made feas- i ible b. h av;aent completion of liquida- ton sud E, consequent scarcity of stocks | offeril which removed obstacles to the 1 opera oni for an advance An obstinate | short intArest also was left at idisad- vante re Hv the cessation of liquidation | and .be Necessities of this element offered a basis for raising prices with assur- anct thst some demand would be met on whi h to resell at profit. Outside of this den and iron the uncovered shorts the l abs sptiqn uf stocks by outsiders ana in- vestoi Nss reported small.
 The anulating effect on the rise m stochs sas unabated up to the close Of the weeN.