The Birmingham age-herald., 1924-11-10
BUSINESS MEN
 NOW IN MOOD
 TO GO AHEAD
Fundamental Economic Factors Favorable, De-
 clare Leaders
(By Associated Press. )

NEW YORK, Nov. 9.-With the se- curities markets, particularly for rail road shares, responding strongly to the termination of election uncertainties, emphasis was laid in financial and busl- ness circles last week on the improved outlook for business expansion. Bank CTS pointed out that, quite aside from political considerations, business men now know where they stand. Many who deferred action until the situation could be clarified were now reported to he in A mood to go ahead with thelr plans.
 The probable effect of this confi- dence was considered the more impor- tant because of the favorable nature Of fundamental economic factors. Some apprehension still is entertained as to the ultimate effect of competition from a restored Europe. On the other hand' some of the best posted observers pointed out that better markets were De. ing created both in European, United States agricultural districts, that ln' dustry was improving, that trade was active and that money was cheap. !hese factors they held, made the outlook en- couraging.
 Roads In Strong Position
 The position of the -country's rail- roads was considered especially favor able. This was due to the great strength shown by the securities of the railroad companies. to the excellent earning re- ports recently made public and to the high level of car loadings. No less than 1.112,OOO cars were loaded with revenue freight in the week ended Oc- tober 25, this performance setting new high record for all time. 1t was gen erally agreed in financial quarters that the election result was favorable 10 inc carriers. The new congress, 1t was held. would contain less of the element hostile to the roads, while President Coolidges stand in favor of the trans portation act and supervision by the ;nterstate commerce commission was considered to offer an added measure of protection. Meanwhile the roads are thought to have an excellent opportun- ity for completing the program or ph!- sical and financial rehabilitation on which they have made marked progress during the last three years. At the same time they are believed to De re- covering the credit position that they en- joyed before the war.
 Although sufficient time has not elapsed for the election to make ltseif felt in the returns from industry, the latest reports are reasonably saus- factory. Even before the election, the steel industry was holding up well. The autumn gains in production have been n,aintained and buying has been some what improved. Pig iron production rose again in October
 .5 Grain prices rallied sharply after the election. some new highs for the year being realized. The rally was ascrlDed to short coverings, foreign buying and fresh speculation on the long side.
 Saturdays government report on the cotton crop lifted the estimate to F. Sl6,OOO bales, which is approximatei!, 2.75O. 900 bales more than was realized from last years, crop. The estimate has been discontinued and prices were comparatively little changed with the spot commodity commanding about 24 cents. Ginnings to November amounted to 9,69 1000 bales.