The Cairo bulletin. (Cairo, Ill.) 1???-1928, 1910-10-24
Special.
New York. October %.

Recent activity on the Stock Elk
change has been in refreshing contrast
with the stagnation of the last few
months. The better undertone which
was intimated in these advices as
early as September 10 has at last
crystalli2ed into an active demand
FOR stocks at advancing prices. As
usual the initiative was assumed by
powerful financial leaders who recog
nized changed conditions, and each
day the buying movement widened
with resultant advance of several
points in all the leading shares.
Bumper Corn Crop.
The most important single Gle
nlent of Improvement was the posi-
tive assurance of bumper corn
crop. The value of good harvest
is much more highly appreciated In
the west than here. AS a result OF
the big corn yield, our western farm,
ers and merchants have each PUT on
a spirit Of renewed confidence, SO
that already the business outlook
throughout the great corn belt is
showing real improvement. Pessi-
mism, never so deep in the west as
in the east, is now rapidly disappear
Ing; for the farmers VIII be able to
meet their obligations, and land spec
ulatior has received a wholesome
quietus through the timely efforts ex-
erted by interior bankers. Incoming
advices from the west are all Of a
much more favorable nature than
few weeks ago. Corn is lower in price
Than last year, but this fact will be
offset by farmers feeding more corn
to cattle. As the latter are bringing
high prices, il will prove more pro,
fitable 10 turn corn into meat than
any other marketable product.
Political Developments.
While western sentiment has been
Influenced by the corn crop, eastern
opinion has been conspicuously ar
fected by political developments
These are clearly favorable. Repub-
lican losses may be expected, il is
true, but they are regarded with egu
aninity, and even with gladness In
some quarters as likely to impose
check upon abuses which are apt 10
creep in with too long political in
nings. Local issues In thi state are
largely personal, SO far as national
Issues are concerned, these appear
to chiefly centre upon the tariff
PRESIDENT Taft's idea, however, for a
nonpartisan commission, aiming to
deal with the tariff one schedule at
a time, has allayed much Of the anx.
iety in this quarter Among other ia
vorable political indications are the
of public hostility to cor
porations; the belief that the su-
preme court will not destrop property
rights. and the expectation that the
railroads will secure reasonable treat
ment IN their request for advanced
rates. All OF these considerations
have combined to stimulate revival
1f confidence in security markets. A
better demand for bonds
has also recently developed. This is
partly an indication of increased con
idence, Ia partly due to accunula,
ion OF funds seeking investment and
partly to a realization of the fact that
bonds are really not endangered by
my probable action which the inter
state commerce commission may take
On the rate situation. President Nc.
1$eas thoroughly sound ana temper.
de argument in favor of better rates
created a strong impression: not only
n investment circles, but also among
shippers who are fighting all adyanc.
IS, among political leaders at Wash |
ngton and among the petty polti- |
ii ms who have been ignorantly as
iuming that clubbing the railroads
vas good for vote-making. Every
hing now indicates that the railroad