The Cairo bulletin. (Cairo, Ill.) 1???-1928, 1911-01-09
Special,

special.
New York, Jan. 1.-THE first week
of 1911 has acted better than it's pre-
decessors in 1910 and 1909, each OF
which signalized the new year with
a slump in values. There was dis
tinctly more cheerful sentiment and
prices displayed an encouraging de-
gree of strength The basis of i'm,
provement Is the comparatively easy
condition of the money market and
prospects of its continuance. The
endofthe-year payments have safely
passed and funds will soon begin To
return more freely from the Interior
1t is possible that the eastward move
ment Of currency may not be quite
as early or large as a, one time eX-
pected, because of the extensive Dor
rowing Of western farmers either TO
hold crops or to invest in cattle for
fedlng purposes. Funds, however, de-
tanned for these legitimate purposes
will find their way later on to the
financial centers. Perhaps the strong
est influences for cheap money are
the prevailing dulness or trade and
the late decline in botn security ana
commodity values FACTORS which
have simultaneously released large
amount Of money and increased its
efficiency.
Good Money Markets.
Not only is the domestic moner
market in very satisfactory condi-
ton, but the same remark applies to
the international money markets.
Easy rates prevail in London, Parts
and Berlin The situation over there
is also favorable. Funds are plenti-
full and there is every prospect that
Europe will be good buyer of securi-
ties during 1911. This is particularly
true Of London, for the reason thai
Great Britain is enjoying extraordi-
nary prosperity and will have CORE
spondingly large amounts for invest
ment. The disposition of foreign buy
ers toward American investments is
becoming distinctly more friendly.
While the hostile attitude manifested
towards capital by our various
branches of goyernment-national,
state and city-is dlsliked over there,
this telling is largely II not more than
counteracted by recognition of the
increased safeguards which are at
the same time being thrown around
American investments. The fact that
many of the explorations which dis.
graced our financial operations in pre-
Yious years could not be now repeat.
ed, together with the many restrc-
tons now imposed upon new issues,
have done much to regain the con-
fidence of foreign investors in Ameri
can securities. 1t Is no exaggeration
TO say that the foreign outlook for
American investments IS exception.
ally favorable, and enough so to prove
an important element of support.
Better investments Conditions.
In the local situation there is also
considerable betterment. This must
be credited to the growing ease in
money and better investment condi
lions. There has been a much en-
larged demand for bonds, especially
those exempt from taxation and the
low prices at which many good IL.
sues can be had make them seem eX-
ceedingly attractive in comparison
with current rates of interest The
same remark applies to the better
class stocks whose divIdend-payinS
abilities are beyond question The
stock market, however, is inevitably
influenced by the somewhat unsatis
factory conditions Of home trade, by
the delay of the Tobacco and Oil de-
cisions and by uncertainty as to what
action win be taken by the Interstate
Commerce Commission in regard tC
dnadvance in railroad rates. AS 800