Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1909-06-07
FRENCH COIN
Is WANTED.
Difficult Field to Break Into, but
Spectators Are Making
the Attempt
RICH PICKING rs SIGHT
Steel Stock Sponsors rently
Have Found Wa
SPECULATION IS AGA x FE
Rekindling Of Torpid spiri, - '
Excitement.
ATTEMPT ON FRANCE THE CAUSE
Belief Prevails that ~ Frenchmen
Can BE Interested I'm Financial
Rekindling Of Torpid spiri, ?,
Excitement. :
ATTEMPT ON FRANCE THE CAUSE
belief Prevails that ~ Frenchmen
Can BE Interested in Financial
Campaign They WIN
Stick.

stick.
NEW YORK June e.-There was a re-
kinding OF the speculative current in the
New York securities market last week and
toward the end OF the week this issued In
a state OF excitement not witnessed IN the
market for over two years past Various
incidents served 70 awaken the market
from the semi-torpid state but apparently
II was the project to Introduce the United
States Steel stock to the Paris market
which was OF most effect. This was supple
mented by the belief that important plans
were working out looking TO the harmonlz-
ing of relations between the transcontlnetal
railroads
The great reservoirs OF French capital
comprised In the numerous small accumHia-
tions OF that thrifty people are considered
the most inviting field of supply for that
attractive commodity known to the flnan-
cial world. No only does it furnish an
abundant supply, but investments once dis
trbuted among French holders find
Judgement so tenacious and free from tho
usual vlclssltudes OF constant shifting
speculation maneuvers that the stability is
thus assured of the corporations concerned.
The field is regarded as the most difficult
OF access by outside enterprise, owing to
extreme conservatism of the French CO.
investor and the rigid French law and
Bourse regulations
steel Men Broke In.
That a new way had been found by the
United States Steel sponsors to thread this
labyrinth appealed 10 the speculative ele-
ment Enough was lacking of distinct
knowledge to leave room for unauthorized
4,
tor In ali speculative movements. Thus II
was reported that the plan for dealing in
the United States Steel shares in Paris
would involve an accumulation of as much
as ,OO0,o 60 shares for London in a trust
against whica certificates would be issued
as the medium for transactions in France.
Also the price apparently paid for these
shares by the syndicate was made ground
for assumptions of the valuation placed
upon them by the bankers connected with
the corporation and the promise thus In
ferred of early increase in the dividend
disbursements, The episode was regarded
as adding greatly to the prestige OF the
stocks Of 30 great American Industrial
concerns and 20 be the outgrowth Of the
power OF resistance TO the late severe de-
preston an OF quick reaction manifested
by them. TIE result was seen in quick ad-
vances OF many of the preferred stocks OF
this class. TINTED States Steel led the way,
hut carried many others with 1t.
TranscOntinental Outburat.
The outburst In the Aranscontinental rail.
road stocks had it's inception in the formal
agreement made between the Union Pa
cific and the Northern Pacific for the joint
usage % trackage in a region beyond
Seattle. This was interpreted as definite
treaty Of peace between the two great rail
road powers and as furnishing final assur-
anee uguinst such a damaging conflict as
was o1ce involved in the contest for the
control of the Burlington. Intimations wert
circulated In Wall street that the status
OF the St Pau1-Pacific coast extension wa
definitely fixed at the same time. This
group OF railroads was affected further BY
the Atchlson's offer OF S26Ooo.OOO OF convert
tble bonds and the consequent insurance OF
Ats financial requirements. Rumors OF in
tended increase Of dividends on Hartman
stocks and OF an exchange of Southern Pa
cifle stock at common Induced a furious
speculation In those stocks. Little atten
ton xas paid to general conditions of bust
ness and industry. Nothing to disturb
sentiment was reported. but nothing strik
ing occurred except the continued expan
sion OF the steel industry. Many orders II
the various lines of steel were reported a
record figures. Options on the various
crops varied somewhat, the news reflectinl
occasional interest over the winter whea
prospects gold shipment to Franc
witnessed the continued control Of the New
York supply by the foreign market. Th'
money market. however maintained II
undisturbed ease and furnished the real in
csntivO for the further speculative mac
tivity.
Heavy Demand for steel.
The movement IN finished steel products
since June I would indicate that the heav'
buying in May was less speculative Il
eharaoter than was supposed. Specifica
tons have been coming 10 the mills In larg
volume and the resulting demand for crud
steel has called large number OF bias
furnaces OF the steel corporation into ser
vice. The American steel and Iron com
pany, shipped 10000 tons of wire product
last month, breaking all such records
which Is in keeping with the excessiv
sales. and are receiving large additlona
shipments. Current wire orders continu
20 run at the rate Of 5000 tons per day
or 1900 tons in excess OF productive ca
pacity.
There is still a large volume OF busines
In sight for structural and fabricated stee
but many orders now coming out are 70
small lots
Cotton Goods Higher.
The cotton goods market has bee
stronger and more active for week Tn
announcement OF the government crop e'
Inmates has cleared up many doubts cor
cerning cotton and has forced sellin
agents to accede TO calls OF MANUFACTURES
for placing goods on higher level
values to meet much higher costs OF ra
material Some OF the large tobbin
interests have been buying literally c
brown and bleaehed oottonA. uckings, der
inns and prints There has been some ful
ther business placed by Red Sea ouyei
on Sa5O yard sheetings ana while heaV