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Show BOND SALES PROVING MOjmS EASIER Issues Easily Absorbed, Both by European and American Ameri-can Investors. The Investment conditions continue extremely ex-tremely satisfactory, although indications appear to confirm the theory that the money market has turned the corner in the direction of somewhat higher figures. Money for six months last week loaned at the highest rates so far this year, but at that, the figure would bo considered extremely moderate ordinarily. The most conspicuous sentiment on the part of the larger banking interests at the moment appears to be that actually disturbing considerations have been disposed of for some time to come, so far as abstract propositions are concerned, and that tho community at large will henceforth this year turn Its attention more exclusively upon the crop situation and prospects, the ease in money a,nd favorable lmprossions of domestic and foreign investors toward American railway .securities. A number of Important bond offerings, some of them offered simultaneously here and abroad, were disposed of lost week with really remarkable facility. Sentiment Senti-ment in Paris Is more cheerful on account of the smooth completion of the settlement settle-ment there and British financiers are encouraged en-couraged by the remarkable activity In British trade and by the prospect of a reduction In the minimum rate of discount dis-count of the Bank of England after the coronation. London, according to tho very latest advices, places a favorable construction upon the American Tobacco decision and augurs well for the advantages advan-tages to accrue to outside holders of American securities in the future, to result re-sult from the determination of tho American Amer-ican government to prevent undue restraint re-straint of public Interest by corporations. This Is rightly expocted to bring about a situation where business morality will have to bo observed more closely than ever before. Shrewd observers also have detected Intelligent and consistent efforts by the larger railway corporations to effect economies, econ-omies, Irrespective of their attitude toward to-ward the progress of the crops In this country toward maturity and our international inter-national trade should monopolize attention. atten-tion. According to banking Interests which are In closo touch with the general trade and crop situation tho crops at present nre making a rather spotty showing. show-ing. It is noL to bo denied that the fact that tho business community at large Is to be no longer held up by anxiety regarding re-garding Washington, as In the case of the Standard Oil and American Tobacco decisions, causes a feeling of decided relief re-lief and one to be reckoned with by the adocates of lower prices. It Is expected that within the six months allotted by the United States supremo su-premo court the American Tobacco company com-pany will have reconstructed its business fabric upon lines which, when approved by the court, will servo as a model for other corporations, giving the larger Interests In-terests the opportunity they have long protested they sought of being ablo to determine their legal limitations. According Ac-cording to some persons an endeavor may be made to discount this prospect In advance ad-vance of the antl-presldentlal election un-settlement un-settlement next year. Favorable significance signifi-cance was attached last week to the fact that the management of the Hill properties prop-erties deem the time opportune for rearranging re-arranging corporate relations on an extensive ex-tensive scale. Statistics regarding the output of new securities this year are of decided interest, showing an aggregate of nearly a billion dollars and an increase of $75,000,000 over the first five months of iy to. Favorable significance naturally was nt Inched to the actual and prospective listings list-ings of American securities on the Paris bourse and the purchase by important Paris Institutions of $20,000,000 of Missouri. Mis-souri. Kansas & Texas 5 per cent bonds, to bo Issued and listed on the Paris bourse fhorlly. The point Is made that there has been a great Improvement In sentiment in this country toward long term security Issues as demonstrated by the quick absorption of recent bond offerings. Both the Detroit De-troit Tunnel 4is and Oregon-Washington -is were heavily oversubscribed and both issues sold at a premium on the curb The Oregon's were offered in London simultaneously with the official announcement announce-ment here and fully half of the $25,000,000 of bonds will be allotted to London bidders. bid-ders. To encourage a wide distribution the bonds will be placed among bona fide investors, so far ns possible. The purchase pur-chase of $20,000,000 of new Great Northern North-ern 41 per cent bonds had a decided sentimental senti-mental effect for betterment. Boston Financial Fi-nancial News. |