Bisbee daily review., 1911-04-07
ABUNDANT MONEY IS STILL TIE FEATURE OF
 FINANCIAL SITUATION

eek and the investment demam
 cens 10 have been largely satisned
 Che liberal offerings of new issues end lOr term no,es The April
 Endorsements win approach nearly
 aa,ooe.oo9 and should stimulate temporarily at least the demand for better slade stocks and bonds.
 The chief causes Of hesitation
 alaE buyers appear to De the
 en oi congress aud delay iu supreme court decisiors. t is not
 -fcs-el Ly .he general public
 hat tf=ae factors in the opinion of ag influential baakers have been
 eor shly dieointed. Financial liqui-
 tca lhey believe is complete and has been unusually thofoug ana dta it is sale 60 say that the
 i-aAcai situation is scunder than
 ,as roen the case for several years. h,a opinion Is shared by al our
 catinE bankers and financiers who gre iu position to reach sound con c3u-ions The average investor, -creeer. is discouraged. chiefly by
 ha. which = closest at hand. He
 eel that his own business is quiet and less profitable than a year or :. v3 ago. Being in a depressed state pr mind, he is naturally indisposed
 enter Wall Street, for the pres cEL al least. General business is aaggesliornbly unsatisfactory, and
 Bis explains the absence of the out
 ire al0llc watcher as investors or
 ptcHwors The cotton goods n acsrr f3r instance, is stiu much
 aa cred ly high raw material sad
 eh casla of production. and D
 -p-oyemeHt can be expected undl lheso factors have been reduced The gositiou of cur textile maru- factprcrs is anything but satisfac
 ery. net to speak of pending tariff agitation There are other industries in similar position, from which they can only be extricated by fur her liquidation
 It nevertheless remains true that the financial outlook is growing daily. This is recognized by the heads of large financial institu- lions, and much of he buying of the last few weeks has been from sources of this character. The amount Of quiet absorption of high grade investments by shrewa judges is much larger than generally anti cipated, and il is this movement which gives the market It's present strong undertone The most potent consideration is that stocks today yield much better returns than money, a situation which is recog- nized by a class of wealthy oper- ators who are quietly borrowing money al low rates and placing the in securities which they are confident will bring much better prices later cn.
 This probably partly explains the expansion in bank loans of sf55. .000,- 900 during the last two months. No however. should follow at this expansion, for the banks gained S13,000,0O0 in cash during that interval and deposits increased si92, 900. These figures show a distinct be.terment in banking condi- lions and should prove an important element in restoring confidence. There is no better panacea for dull bushes sthan an abundance. of cheap money such as now exists, and as soon as existing doubts disappear we shall probably see a partial re- yiyal al least in trade activity.
 The ease in. money is practically worldwide, London. Paris and all other important international mar aets Icing well supplied with cheap money. Moderate amounts of gold have been shipped from this point To Canada owing to rapid develop nent in that region. and it would -ausc no surprise if further sums were to follow, for the reason that crge sums Of Canadian money have been on deposit in New York and Till now be required to meet .he 'rening of spring trade and the rush T emigrants to that part of the world. The prospect of reciprocity with Canada is also stimulating vari- 1us new enterprises on both sides of the border.
 Next week the special session of congress begins. Its program will be watched with considerable inter 'st- It is to be regretter that con sideration of the tariff could not 'e postponed and attention devoted exclusively to reciprocity. the pur- 'ose for which the session was 'ailed. As the tariff agitation. there Is no need for becoming unduly 'iarmed. No radical revision is in 'ight. An attempt may be made to 'ut down the neaks in she tariff .chedules. one of the most conspicu- ! 'us being that of wool and woolens. ! 'DTg-entiy the attack will be coa- !. 'entrated upon Schedule K. Al ,reat deal of discussion and political F r.rs-orly- fc f. I.r c.ss.rofrl l...f