The White Pine news. [volume] (Ely, Nev.) 1906-1910, 1908-07-16

y
been such a source of anxious COM
ment for a year or more past, are
once more in evidence for there has
been a display of increased strength
and activity which was hardly 10 be
looked for as an accompaniment of. a
political convention. says the United
States Investor. The long predicted
Bryan scare, having lost its
terrifying aspect at closer range, the
speculative community was more in
elined to aeceut the news of politics
and crops. the two overshadowing in
/ huences just now, in a more favor
able light. The steady decline in
security values. which extended prac-
\ tically throughout 1907 and the ear
/ ly months of 1908 as well, seems to
have given renewed stimulus 10 op-
erations ON the short side of the
market; in fact. selling of this kind
! has become almost as common
practice as buying The weeks up
turn after a period of extreme dull
ness has. therefore. served TO bring
to light the existence of what might
he termed a sleeping short interest,
the presence of which was generally
unsupported. II is their occasional
rnshes to cover on each new show
of strength that have made evident
the comparative scarcity OF favorite
issues, brought about by the heavy
investment purchases of last fan and
winter. Consequently. covering OPP
erations are frequently attended with
great difficulty. save through the pay
ment of higher prices.
h. b,I -
came TO a close with prices resting
well above the 1907 panic level. but I
the evidences of last Octoher's finan-
cia maelstrom are still with us and /
will be for months TO come Yet. |
during the last six months of con-
valescence, conditions have improved |
more extensively than the heart 4
breaking decline in railroad earnings
would indicate. Certainly. another
six months of such improvement will /
go far towards healing the scars left
by last years disturbance for by
that time the railroads will undoubt-
eddy be showing much more satisfac-
tory returns. And now. with money
so cheap that IL is to all intents and
purposes a drug on the market. and
with attractive mortgage issues sell
ing at prices that yield substantial 4
incomes, IL would seem as if the bond
market should show signs of a re-
turn of that activity which was in evil
dence for time earlier in the year
Practically all of the large Wall
street houses have prepared lists of I
offerings which combine safety with q,
relative eheapness, and people who /
leave their money in trust companies,
certainly regret their failure TO take
advantage of such opportunities as
these. The reinvestment of July dis
bursements has not progressed as
rapidly as might have been desired,
a condition of affairs which is no
doubt due in considerable measure to
the fact that the necessity of reduc-
ing or passing dividends In various !
Quarters las maze the more timid J
investors inclined TO hold on to the
ready cash As soon as it becomes
evident that railroad earnings are on
The upward road once more. much of
this money will find its way back into :
the investment market. A decidedly
favorable sign is TO he found in the
renewal of interest on the part of
foreign investors in American Sc
eurities. and international bankers
are not slow TO express the opinion
that this interest will show a sub
stantial increase in the course OF the
next few months