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Columbia University Libraries Digital Collections: The Real Estate Record

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Real estate record and builders' guide: v. 74, no. 1902: August 27, 1904

Real Estate Record page image for page ldpd_7031148_034_00000511

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Aitgfiist 27, 1904 ? 1 TIECORD AND GUIT.^ 437 S: ^eX ESTJ^USHED-i^KyUlpKSiy^lSsa. Dzv^TeD p f\E\L Estate . Builoi//g A;_RcKrrECTi;RE,Koiis£:i1old DEGtHiATioiJ. BusiiJess AtioThemes OF GEifen^l IHtej^st. PIVICE PER YEAR IN ADVANCE SIX DOLLARS Published eVery •Saturday Co mm unic ation 9 should bo addressed to C. W. SWEET. 14-16 Vesey Street, New YorK J. T. LINDSET, Business Manaser Telephone, Cortlandt 3157 ••Entered al tlie Post OMs B at New Tork. N. Y.. as se cond-class matter." Vol. LXXIV. August 27, 1904. No. 1902 IT becomes more apparent all the time that the great cause which has recently been making towards higher prices in Wall Street has heen the plethoric condition of the, banks. They , have had muth more money to lend than they could find any , profitable use Cor, and since good securities wei-e comparatively cheap, it was inevitable that a speculative movement in the - direction-of higher values should take place. In as much as it was chiefly the scarcity of loanable capital which broug'ht down ■ securities with a crash in 1D03, it is naitural that abundant sup¬ plies of money should send them up again; but it must be re¬ membered that easy money is not cf itself a safe basis for a , bull movement. It needs the support of general public interest, . and this has not yet been aroused. The large cotton and corn ..crops,will mean unusual withdrawals of mcney from the New York banlis, during the fall, and consequently the more careful ■scrutiny of loans iu this market. Higher priced money would ■ net make rauch difference, provided that there was a good gen¬ eral demand for stoclts, as well as a professional one; but in ' the absence of u.t: 16 fep-