The Cairo bulletin. (Cairo, Ill.) 1???-1928, 1910-11-28

and In spite of gold shipments to Can
ada the outlook is for continued ease
until The approach OF January dis
bursements and other operations in
cidental to the opening OF the new
year. The investnea, situation, how
ever, is not entirely satisfactory, for
the reason that investors and lenders
are waiting for greater inducements
Capital is insisting upon better terms
as well as labor. Recent new bond
issues have been placed with fair
success, but IN is noticeable that
these are much more readily abwrD-
ed in foreign markets than at home
There Is slight Improvement in the
demand for bonds, yet 1t is evident
that pending issues will only be SUE
cessful through offering better terms
than have been previously accept
able Considering the necessities OF
the railroads, it is an open question
as to whether the latter should not
resort more freely once more to the
short-term note, which filed the gap
so well In 1907 and which would at
least tide the companies over until
money market conditions were more
favorable for the placing Of bonds
Stock Market Better.
In the stock market Slightly bet
ter feeling exists owing to the belief
that the railroads will secure some
concessions in the matter OF rates.
It Is Believed that as a rule they may
secure about half OF what they asked,
although in some cases the conces-
slons will not be as great ami in
others they will be more than tilis
amount The views OF government
officials and others recently express
ed before the Railway Business Asso-
iation had a reassuring effect in
Wall street, although apparently pre-
viously discounted The railroads
are much in need of funds and are
not likely to meet with mucA success
Unless allowed to secure fair pro6ts.
I nc present quietncss in trade may
impose an extra strain upon their
earning capacity, All. already mana
gers ale considering plans for en-
forcing economy. '@le renewed az
gressiyeness of labor at this time is
exceedingly inopportune, CONSIDERING
the reactionary tendencies in busi
ness, which must nave their effect up
on railroad traffic.
West More Active.
Depression is more keen in the
east than in the west, where the ben
efficient influence OF good crops is
distinctly felt The decline in farm
ers profits, however, is a factor that
must be reckoned with, considering
the increased obligations and expen
SEES which many must face. The farm
er will not be as prosperous as 9
year ago. In eastern industrial cir
cles there is more or less depression
because of the reaction in business
The disposition among consumers tC
cconomze is certainly checking con
sumption. In the great iron indus
try, which leads all others in impor
lance, there is still very pronounced
state of inactivity. The latter is MOI
likely to be removed Until the rail
roads come into the market as pur
chasers of materials something Which
they will be unable to 40 until the
rate question is settled and the out
look for traffic becomes more encour
aging Present conditions sugges
fair activity in the stock market
with moderate fluctuations in eithe
directions Trading has unquestion
ably been checked by recent manipu
lation, which carried prices quite be
yond the views Of buyers. A reac
ton of few points would place tn
market upon a sounder basis am
afford some inducement to both in
yestment and speculative operations
Much will depend upon Presiden
Tafts message and the opening o
congress a week hence
HENRY CLEWS,