The Cairo bulletin. (Cairo, Ill.) 1???-1928, 1909-05-10

Special.
New York, May S-During the
past few weeks the stock market has
undergone considerable advance.
some stocks are too high in view of
their small returns to investors, while
others are relatively low, having
been neglected by both investment
and speculative buyers. AS a result
we are likely to see more or less of
the eveIing-up process in which
medium grade investments, especially
the better class of preferred indus
trials, may receive Increased atten-
ton.
Outlook Good
The industrial and commercial out
look continues satisfactory In the
steel trade activity has been especial
y noticeable, April proving banner|
month for the receipt of orders,
Building operations are particularly
active in all of the large cities, and
this factor in connection with de-
mauds from the railroads for struc-
tural material constitutes the chief
reason for Improvement In iron and
stel Our railroads it must be re-
mcmbered. have been pursuing a.
policy of rigid economy ever since
the panic: and, now that earnings
are improving and the money market
is easy, conditions favor not only the
making of repairs which have been
delayed, but also the carrying out of
various improvements and extensions
which had previously been deferred.
In all probability tie railroads vii
be large buyers of materials for some
time to come, which will certainly
be an important element in business
recovery. Bank clcarings are al
ready ample proof Of the latter; re-
turns for the first week in May show
ing an increase of over II per CEN
and these gains being we'll distributed
over all sections OF the country. Rail
road earnings also show encouraging
results, and the reports on forty-one
roads for the third week In April
showed gain of nearly II per cent ,
over last year Still another evience
of business Improvement is the di-
number of failures; the TO-
tai of which in April were only 800,
compared with 1870 in the same
month of 1908, the volume of liabili-
ties for the same periods being SIG
600 600 and 500. 100000 respectively. !
Crop Prospects Better.
Our crop outlook though net en- ire.
ly satisfactory is distinctly more as
surfing than a month ago. The season |
is backward owing to the prevalence |
of coll weather, but with the ap- |
proach of higher temperatures consid- |
cradle improvement may be looked |
for There is as yet nothing disturb |
ing in the agricultural outlook en- |
ccpting the damage TO winter wheat, |
which has been amply discounted: |
and as prices for rarm proucts are
still very high and likely to remain !
so for another crap year prospects |
favor another season of prosperity
to the agricultural classes who form
so important a constituency In our
population. Wall Street was pleased
by the supreme court decision on the !
commodity caluse; not so much from !
the fact hat il favored certain cor
porations as that it imposed an i'm.
portant check upon the radical and /,
socialistic attacks on capital The
courts are more firmly established
than ever on the principle mat prop ,
erty shall not be taken away from !,
owners thereof without due proctss
of law, and that all attempts as con
fiscatory action shall be prevented. !
AS his is one of series of decisions
which while tending to discourage
the abuses of capital have s,outly de !