Omaha daily bee., 1908-07-13
Campaign Expected to Have Less
Influence Than Usual on Business.
EFFECT HAS BEEN DISCOUNTED
Steel Industry Shows Evidence of a
Strong Revival.
IDLE FREIGHT CARS DECREASE
thweatern Roads Calling in Equip
ment to BE Prepared to Move
the Crops, which Promise
to he Large.

NEW YORK, July l2.-Lsst weeks Sc
ourity market gave a clear reflection Of
the determination arrived at by an eNces-
sive number of stock market participants
to throw off the waiting attitude main
tained for some time and to act on their
conviction that better things were In pros
pect for business and industry In con-
trast with the absolute stagnation into
which the market had fallen by the close
OF the preceding week, there sprang up
degree OF animation not equalled before
since the early period Of June, the average
daily transactions rising we'll over halt
a million shares There was expansion
also in the bond divisions and broadening
II demand in that department which was
most encouraging to sentiment. The as
surance of abundant suppl es Of banking le-
fources throughout the year, the promise
OF crop yields above the average for re-
cent years and the approaching termina-
ton OF the sessions of the democratic ma
tional convention were the main factors In
stimulating the new speculative departure
The spirit Of uncertainty and the conse-
auent halt in business activity have be-
cone 20 much matter of course In years
OF national political campaigns that prog
Tess towards eliminating the uncertainties
are cf recognized beneficial effect The
naming Of the cand dates Of the two great
cHticil parties ard the defining OF the
is 8 on which the campaign Is to be
fought were accepted steps towards
knowledge on which to base the estimate
Of the outcome and were acted upon in
this light.
The D ling up Of loanable funds in bank
ing reserves and the resulting pressure to
find profitable employment for these sums
have an almost iniallible effect in opening
up a demand for we'll secured bonds and
d vidend paying stocks.
steel Trade Leads on.
Great Importance was attached to the
symptoms last week Of revivlng trade, the
most striking of these were reported from
ii steel trade, who 9 assumptions on a
large scale Of opel al ms in the steel mills
IN The PittsburG distr,et were chronc.ed,
with renewal OF employment for thomands
of llborers who had teen idle and without
Ia for sc eral n onths. SPECIAL sigrih-
lance was attached to the large proportion
cf The new orders for steel which were re-
te.ved from the agricultural implement
irak.rs as Indicating well formed opinions
on the conditions of the prosperous farm
iny community and the good promise for
Il years crops Hopes for the crops were
10. tered y the government report on the
CrJIs. The satisfactory cotton report of
tho previous week completes the data on
VIII oa the assumption is founded Of the
cont nued prosperity OF agriculture.
Railroad earnings do not yet show inn
Irovement The American Railway asso-
tiation, however, has reported a further
decrease Of IS 69j in the number of freight
cars IDLE In the two weeks ending June "a
making a total reduction of over 10000
cars from the greatest idle equipment OF
April i9 Railroads in the northwest are
repo ted TO be calling in their freight equip
ment from foreign lines in preparation for
q large traff movement VIXEN the crops
move. In various minor lines of industry
come evidences of reviving demand and
pr parations for increased production to
meet Il.