| Show TRADE OUTlOOK IS STIMULATING Crop Outlook Is Good and Con Confidence Confidence Confidence Permeates All Lines New York Oct 3 The brilliant trade and industrial prospects were the stimulating stimulating stimulating influence in the revived specula speculation tion and strength in the stock market last week The narrowing resources of the money market the inevitable concomitant concomitant concomItant of the expanding business and crop moving requirements were disregarded at atthe atthe atthe the outset but gained some influence to toward toward toward ward restraint on the speculation with the the rise in the call loan money rates The cheerful views from the iron and steel trade formed a basis for the con confidence confidence confidence which permeated all lines of business A feature was the appearance of the railroads with orders for steel rails for next years delivery The Pennsyl order for tons was regard regarded ed as RS an important sign of the policy polley of the railroads to resume free purchase of supplies Reports of August earnings of railroads showed expansion in gross returns with witha a substantial proportion saed saved for the net through the lesser increase in the operating oper operating operating cost The New York money market was slow to respond to the obvious forces of depletion depletion depletion tion of ot banking supplies The effect of the large lar sums brought to New York in connection with the cele celebration celebration celebration bration was IS given some responsibility for this The Increased speculative activity and the heavy withdrawals of cash joined with the necessary preparations for the th disbursements incident to the Oc October October October tober settlements setU ments ultimately ultimate affected the money montY market The call loan rate rose roseto roseto roseto to 4 44 per cent the highest touched since i early ea ly in 1908 after atter the decline from the stringency Incident to the t December panic with the exception of a flurry lurry in December last laste year The e restraining effect of oC the money developments de developments developments in the stock market specula speculation tion was supplemented by the evidence of the serious deterioration d in the cotton to crops shown by the unofficial estimate which preceded the government report of experienced on Monday Monda Re Reports Reports Reable condition were ports from the cereal l crops were favor favorable favorable able and the hope grew w up of a aed bye better yield of corn than hope was promised pro ed by the thelast th last government report r r |
