Omaha daily bee., 1909-07-24
NEW YORK STOCKS AND BONDS
Meeting Of Steel Trust Directors is
Awaited with Interest.
EXPECT NO DIVIDEND CHANGE
Less Fear that Failure 60 Declare
an Additional one Will he
Attended by slump in Price
of the Stock.

NEW YORK, July 23-The sluggish state
Of the stock market today was significant
OF a waiting mood on the SPECTATORS part
The event awaited with most interest Is
the meeting of the United States Steel d.
rectors next Tuesday to declare the guar
terly dividend. speculative opinion has
about reconciled itself TO the view that
there will be no change in the dividend
rate at this time.
There was less fear today that this VII
be attended by active selling OF the stock
and a decline in the quotation. United
States Steel was steady and quiet today
and conveyed the assurance by, its action
that the peg has been inserted again at
above 20 which had been Withdrawn sue
cessfully at y and at u on the downward
course from the maximum price at 70,
which was touched last Saturday.
A hopeful feeling was impaired to spec
ulative holders Of United States Steel by
the action Of A%malgamated Copper. The
dend at the rate Of 2 per cent, to above
81, caused it to be cited as evidence Of what
could be done with the pricetof an Indus
trial security paying 2 per cent and with
The recent \ Of 1 per cent quarterly divi-
dend on Amalgamated Copper had been
preceded by rumors OF an intended increase.
The immediate influence In the rise Of
Amalgamated Copper today was the active
warrants in the London market. This gives
rise to hopes that the accumulation OF cop
per stocks in second hand In Europe may
The exports of copper from the United
states. however. fell during the last week
to less than half Of the total OF the pre-
ceding week. The rise in the price Of war
rants in London was accompanied by the
marking up Of the bid price at the Metal
exchange in London There were reports
that one Of the large producers was TAX
ing no more orders for deliveries beyond
October. in the confidence that prices Will
be higher by that time.
Guesses were prevalent in Wall street
today on the date OF agreement on the con-
ference report on the tariff bill, now be-
lieved to be imminent. and II was apparent
that this, together with the Steel dividend
meeting. would be awaited with interest.
The strength of occasional stocks In the
list and. even more. the renewed support
accorded United States Steel, was effec-
lively holding the general market in spite
Of the semi ~stagnation of the trading.
Estimates OF the weeks currency move
ment indicated n larger inflow from the in
terror than had been anticipated, In view
OF the weeks decline ~ the Interior ex-
change on New York. 80 subtreasury OPP
e~rations also have VI a small amount
TO the banks. The loe Il nearly 5000, OOO
by the weeks gold exports to South Amer
lea promises to be made UP sufficiently IN
leave an indicated loss in bank cash OF bnt
little over 81. OO0.O 900. Gold outgo to. South
America Is expected TO continue, and the
London discount rate hardened again today
on that account.
The latest statement Of the condition OF
Canadian banks shows a reduction Of thelI
900. but with that Item still standing al
Sis, $500 10. This item represents for the
most part New York indebtedness and a
power to call on New York for remittances
to that amount
Bonds were irregular. Total sales. pa
value, 1855 01 United states Is and the 81
declined Il OF / per cent on call.
Number of sales and leading quotation