The sun. [volume] (New York [N.Y.]) 1833-1916, 1910-08-07
e0ssTP OF Wall STREET.

Tims money rates worked trise low"
|. LAT week. over the year money par
ticuiariy may be borrow d a. easter terms
than we're offered two or three weeks ago
But brokers done care for long time loan.
nov that the improvement In the none,
situation - clear 70 all Of them and that tbs
last fear OF a s'ringency has been dtssipatet
during most Of last month the cas-" We
different Then some Of the partners ~
some Of he biggest Of the brokerage house
couldn't sleep nights for fear Of MONEY
S'rin genCv and only cured thor in~omniH
by borrow ing large sums ~ tn" then rf"
/ Vailing high rates 81 interest They didh
propose 20 be- caught IA tn. fall with liiilt
time money IN their possession ana q Nh-
/ their tnsStenCs upon BIG over n" yeai
loans that was a factor IA maintaining The
3 high rates long after N" reserves 81 tie
{ banks wers abundHntlV replent-h"i
/ Tho demand for time money from fright
en-d brokers has been one Of m" r"as"n~
that time money rates remained - firm
Z while coll money wA- drug on m" mlrA".
] The brokers borrow tim" money 81
course had no immediate Use for -. ~"
stock market being Ina"tIy" They oui'
J took precauiIon against a shoriag" ~
money ia The fall Since they secured tn"
time money the de mand for stocks has boon
no more active and daily they haN" idi"
money To loanHr call and la''erlv hav" been
lucky II they could place all Of u ~ NOR"
than per cent Ihev paId the banks high
interest for time money and nov hnd IN"
banks wing wuh them IA bl'ter,ng down
he call money rate
Two ~ the principal arguments New street
had for selling stocks NsT" indtch don~ OF
"a trade reaction and appf.hensonS OF q
monetary stringenCy. Even N" theorists
that advanced the arguments most NO"ii"r-
ouslv nov that the contentious W"r"
Incompatible With each other 81 the great
business reaction was to come money tied
up IN business must be- released from 'if-
culatiOn Idle mills mean IDLE money.
1ransver~.'ly. Il the money we're &" remain
- actively employed a. to produce a -trln-
gen,y or call out emrrgrn'v currency
business must for thi- very reason continu"
exceptionally good A. the event has
turned oui up - he pra-.'ut business has
reacted moderately and money hn- become
a. Least moderately rlsntliul
Most OF the railroad mana gers Who tried
TO "dr'ste the publi' ~ 10 higher irslr''
rates have quit In disgust over ~" chilly
reception OF their arguments. bu' II !.
oakum Of the FTIsCo sticks hraNely ~ o.
u" doesn't care u the plan p"Opl" and the
polit clans do laugh In hi --latest article
In addition - campaigning the need 90 new
on railroad security values - follow
leg s'at'on thai tends q prevent new CON
-'rurttru 'an h." regarded A. a bull argI-
msnf IN favor -. existing ratlroaG- and a
bear ar gumrnt against the country growth
aud development For the development
Of the country AZ 10 - present high stand
ard ~ has Required Tor the last thIrty wears
an average Of forty seven hundred miles
OF new railroad annually There should
1. -. IA
age annually IA the iutur" to enable tha .
country - reach - fgIl Development 10
build and "lIIp tort ~'N"n hundred mti"-
OF railroad costs no. less than tiSS SOLOS, /
fully 80 per cent oi vh.oh goes Tor labor .
ami the pruduc's ot labor bach forty .
seven hundred miles gives eUploN Iueut /
10 -NWu employe -S OF all ,l1s-..- There
fore unOI-r legislation uO"- not 40 ~"rlog-lv .
aT-,.' the class o. men thai are heiIc ,ruu.
Ci-"d bv the politicians a. % does the -il~> .
ui men that work hy the d., aud are upoa
the pay rolls Of the COMPANY
T. was a singular and pleasing COINCIDENCE
hal ON ~. same daN 81 week that me-
Kansas iL-urgenJ- -u"If aside ia" --rruars
h. han-a- 'Orn crop wb- relieved. ul in.. .
drought vhi'h had long Threatened % van
great damage IN" hot winds when had /
h. ,pru ;I-.d- seem 20 have been
IraWn lrrp-t-iIb Div - M" convention ha',.
W ME Iletf lf~N bllktiffl Inc tbiF'- COT Tie
reg ulaT- their absence from the corn fields
permitted cupiouS rams which Immrus-lv
Improved n" condition OF the crops m.
result a. a broker remarked le~trrday,
" a. bad politics hut good crops q 'unGit iOn b,
y hitch a. pr---n' Wall street much prefers
. poor crops aud ToIiticS serene
MANY and weird ara the solutions one
ears tom disappointed bond 80 Ier- -a,~
bond house IN IT. " e"klv circular AnlunsI
he most reasonable. howrNsr. are the hugh
'D-' of living. LiCh j. not offset by an equal
Increase Of income. and the era for auto
mobiles. hIch has extended 20 u class Of
,ebpl" who could % afford the tir>f cost
md Who have been anna ped ~ th. cost 81 /
ipAr"p and IN" know ledge that their ia
-~tmsn' d-pr"'iared apron imlirIy ~
paT cent the nr~' year aud the second wear
- per cent uf wha' remained and 10 from
Err- to nvs wears show rd practically q
ota loss 81 principal hur having the fever
u ihrtr hloud. when their rr~f machine.
ent 10 pirr~- q second S. a. considered more
-''>=arv 10 ht" and happiness than ~r.i
"uIai tu guard ugatu~t fha' winter ct ,f- =
un'eut Which ma wHN ct coming around .
q often ~" hiRgc-' -'oTv that Ne have
ru ~ of the extremes to Vhi,h p"opl,. are.
oIng 70 enable Themselves TO continue
uHnIng ar - thar ia certain apa mont
ou-" containing thirteen fanIlIa~ eleven ,
{ them own Ha, hines and only two I.-,. I
ia" two faur.i~- having -rr-
ants bong the uut' ones ~ hI,h uu not own
automobiles