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Show IS NOW PREDICTED oru ll r i -rices on Higher Average Level 11 Than Ever Before Known. :it-; -ilEAR MONEY MAKES SS 1 HOLDING UNPROFITABLE S eneral Prosperity Causes Demi De-mi mand for the Money in Mtuiic; Other Lines. itt, fecial to TY.n Tribune cbi NEW YORK. Oct 21 -Indications n iiit fsong for a decline hi the slock market t&sed on technical conditions. Prices are ?t, jbw on a higher acrai? level than ever St fore kin.'H'! .ia many holders of stocks "' tfre paying and 6 i er i rnt Interest for lonev to run., them, and nre realizing 2J Ms thm -i i.. -1,1 i.n their Investments, ... naturnl sequence- is that unloading k T hrill taki- I'l.n , ; mpanted by a sharp 4lTop In Vril irs. Lower rales for raonev "y prevent extent! ve liquidation, but lyjJbere Is bound to bo some In any event. ?jfg Rip-3 for a Turn. fietlNo change has occurred In the general ltuatlon. hut, In the rnuculai of the Mirer t "th. rnurlc i is 'urn on jTHMie nhurt ldc. and there Is nothing to put Jjluftccks up on " The gossip among the n)i-HHown n)i-HHown Interests Indicates a complete sub-HKBTdence sub-HKBTdence of anxlet.'.. It wis generally be-rapeved be-rapeved tlmt i" use the expression 'fclirond nun. the money market 'Is over-he over-he Hill." W'hlb It 's believed that rates TilJ.'or call funds will remain al 0 per cent Q1 j"or several weeks at least, il Is very gen- rrally believed that the tendency will be .R to easier conditions jj Di-ain Fiom West Over. " -I While funds are not expected to return -.fovuii th- interior in large amounts during (he next week or two. It Is thought that U"-Hhe. heavy drain on this center to move r.ops Iron the West and South has been IrOpped A man who k'' -ps In clove (ouch jrith nffolrs In Canada expresses the opln-"fcn opln-"fcn confidently that the Bank of Montreal soon begin to send gold to New York prettv large amounts, lie believes they "kill be 'sufil' lently large, taken with the ,-Jtturn f funds I'rim prominent points In Jhe West and South, to be a factor In the KKJocal money market. There seems to be Feua difference or opinion as to whether the fsew York nionr.' market is to be further Wnjjffccti .1 b th. forthcoming Russian loan. EaiC'J'tn majority tilnlon Is that ll has )ieen toretty fully dls'-oun'.ed i-i tin- i .us which Eulpavc prrMiiUd for last I wo wcks jfiim Prosperity Makes Demand. ....-While ii Is too early to coin lijde. as ..,fcnkli K Interasts would like to believe Iibs,thsl rates duiinK the remainder of the .....year will rule around th..- present lcei '"wLUidlca lions strengthen thr. Inference that EuUthe era of lov money has gone bv, ihe to ijunlve i h i t. i.iu ;,. because or the general i. pIGSpcritv veivwhetH being toward a :. Tigrc-ater demand for commercial nnrl spec- a,ttlative purp ses. Significant of this trend '' jrc th higher iat. tor private discounts kln Lonooii. ';,ns am. Berlin, these rates An the English and '' rnun i apltuls show-ynng show-ynng a murked advam-e Tin- loss of the jpwellow in l,, 1 h; Kngllsli and I r. r . I- banka Ml hardly Indicative of further Immediate Igold exports to till 1 'm eo JHku 1 . or the prevailing high rate6 of QJfcxchaiiKe here SJ Tide Reaches Flood. I't An unfortunate deadlock between the I cotton produ ed .',nd consumer hiu caused i D( Bcarcity of bills, decidedly abnormal at tide time of Die year. N-uturally. with i high discount rates abroad no profit m ypflered rn loaning foreign money cn this " Ede. It Is fair to assume that Europe has X ho desire to take over any larger portion n- it our loans th.in it already holds, t 1 1 ; r .. Upt-culatloii must, wait for the rtturn of m money from the interior. A raj of hope ijn this din-i tlon is found in the recorded " mf.vni..-ii's nf currency for the nk, nd Showing a small gain from the lntertoi -- lUggestl . i,l the inference that the tld I Uas about reached its flood. Warning From Bankers. jf- Bonkrs of r. put. ln ar. not In favor N Of bull up. ' ul.iti..n ai this perl... I a.re not ,.. Undeavorli K to bring about a beai market, but tl'.y have .-.nt out the warning mat r further Htralu ..n th.- money market from " the Bpe iliiliv .-ui.-nt will be fullowed Ml JJV 'he wiping out of many spe. ulatlve ac-,,, ac-,,, Icount Naiurally the bank presidents, Bo have more foresight than the ordln-" ordln-" iry speculators ha., wish to maintain ' 'atablhtv in Wjll ttt.et, and It is for this let .jUJ'pce Hmt n.. . have been preaching ... (fugs Inn r. 1 1 1 ' f .i M ' t h n ihe st..-k 'otf Accused of Insincerity. Of course, they will not receive from the "'epculaiiv ii , 1, m.-nt the credit fot Q thig sim-r 1 1. v. .1 ..j n,i that thev .v" workl1 P n"'-t lower prices, so that .the Standard Oil and other lurge fhranclal r. IPllUeretM may load up with stocks at -. cheaper jirle.s, but such things have been ' sai'i liefou. with. ml , ifding the f. mo, r n Jnents of the able men who have In charce Vht money uno the- .redl. faelilues which it naed f,,r the bcr.. .1 .,( the- p, op0 and the upbuilding of the , :itlrc- nation's lu- S 3.KTi"-'T ;'r'-- '"M 'I"'""'! for , Hioiir, ih.u, H.,M ,,; ,,,, Wa t t peculator s, and when H,- i,,, , ... , , ... Lit th- .i..-! n:....t. cei.tcr of the . ..iintry pmre low ii is iK-ceHari to coneld.-i 1 1,0 , eQuiremeni.s of trai before the eeda of . Eti,Bpftcu ator thw l what the I Kf s.wl"J ",0 o1' ''"raging bull apecu-1 apecu-1 tlon at pi-eh-i.c aie ihinkin(-; ..f Prefer Cheaper Stocks IBf0.1."1 b,,,k,,,s ajMirne that a resumption IL.7,11"?"1 rnovcm, nt ulll center Mil . .- 1 '---Prived railroad and lndus-jfKal lndus-jfKal issues preferably the former, since lllonateiv n the improvement of price, Lfrc.un.obly thc-ro 9 something In this JJfenoning. 9,nce this clas of stocks JflMf to carry and ,., the unthinking mav P' . '"":'P" appearance Howeve Advance of Hill Issue prjivarlablv found n., ,r.n.7 Ah,ch fter. has thl. prov.,, n ''tho rase the i,?M rna,k"L, absolute, y oinrogafdcd' he Uinilmem ,,f ,i,, 1 ycllne cnils for rto l-ngthy exolanatlor, even though it ac, ords with the theory of h readjustment in the Kilt-edged stocks. The bonus to result from the Great Northern's ore lauds, which the I nlted Siat.j Ste. ! lorporailon Is supposedly anxious to obluln, still remains as a mystery mys-tery value, hence nr. tsfrjy decline to a level more commensurate with interest rates is hardly to b- egpectefl. Btrength In the giu-cde'i anthracite coalers like Delaware & Hudson and Lackawanna has doubtless a connection with the Great Northern melon-cutting, for these roads have an earning capacity permitting occasional valuable rights to stockholders Suggestive the fact that Wall street still dotes on mystery developments de-velopments woa the advance I it Wisconsin Central Issues on a story that the road would form B link In a Great Northern-Erie Northern-Erie transcontinental line Even an official of-ficial denial of the yam did not diecourage room traders' mo nipulu tlon. Which spread to the shares of the Chicago Gn at . i -ern like the Wisconsin Central, n disturbing dis-turbing element In the Wem. As showing the results of harmonising the railroad situation bv purchasing independent roads at fancy p:cec. the course of Kre slock is uot without Us significance. Crops Confirm Estimates. The Government l rop report confirmed former sanguine estimates With a bumper bump-er corn crop Of & 700,000, 000 bushels and the second Innv-si wheat crop In hjstOr) 583 01, Of") bushels o sa nothing ,.f lare yields r, f oats hay and Othei agricultural commodities), Uio DSSiS for a year's unexampled unex-ampled prosper! I. Is afforded the country coun-try Even tho cotton nop, depn(. tn0 bearish reports from the South, promises to reach 11,000.000 bales, suggesting . heavy Mow of foreign gold ultimately to America. Good Railway Earnings Reports from steel centers are of Ihe most optimistic character in most parts of ihe country railway earnings continue in BhOW Improvement th onls important exceptions being th roads in the South- ureal suon in the Ulsaourl Paclfli the Missouri Kansas v Tegtae and the Texas & Pacific, but In these coses the returns compare with unusually heavy traffic receipts re-ceipts Inst etir Th. lu'lica -, ire (hut as BOOli ns the stork mark' I h rn, more n-ti, 1 1 - specialties will be led b the trading in United Elates Steel com-mon. com-mon. j |
