Show BUSINESS OUTLOOK CONTINUES ENCOURAGING Henry Hemy In his letter notes a large in railroad and the tariff was settled a decided sense oi of iolar in manufacturing circles while crop continue most encouraging aging He sa says saysA M MA A Cavola favorable lo d development been boemi i the tho recent decline In cereals to moro prices This wIll tend to somewhat offset the high cost oi o 11 liv log ing by providing ln cb cheaper 01 food It should also alBo facilitate a much needed Increase or of eXp lt The gaIns I In recent railroad l confirm re rei i or of improving business for fOl though rates rales are aro bolter than a ar ago the tho gains wIthout this additional rev nuo are largo I I to demonstrate a ver very con enlargement ot oI traffic The continuance of casy money probable for or several weeks lo longer gel at heaM owIng to the abundant abundant ant supply of minds funds FIrmer rates howo r are a le par In time m mo money cr TIlls This was as partly duo to Increased interior de delmn i for crop lOIng p and to gold experts the latter having haing been bean renewed by a partial withdrawal of Japanese and aDd Canadian balances In III Inthis thIs center There Them was wa also are a re newa or of gold shIpments to Argentina on London la In Europe money monc is nUll and very cry low Since May gold ha has been shIpped to Japan and the probabilities are arc that considerable more marc will soon be for forwarded warded Batik Bank loans are still hover hoer tug lug about the high record while re reserves serves are declinIng J Unit week the was re reduced to with Jul July l th and compared with 5 57 a year ago |