Omaha daily bee., 1910-10-09
NEW YORK STOCKS AND BONDS
Railroads and Industrial Corporations
Issue Big Blocks Of Securities.
ACTUAL MONEY NOT ABUNDANT
Loan Increases and Cash De-
creRses Among the re
serve Institutions.

NEW YORK, oct. S.--(speciaI Telegram)
Trade developments Of the week were not
influential in the stock market The Sep
tember output Of pig iron showed an aver
age daily Increase over August although
production was on a falling market The
copper statistics appear to show "A better
adjustment Of production to consumption
with consequent Strengthening of the
market Stocks, not only copper, but the
entire list Of stocks, has acted as though
tho market was thoroughly sold out and
even oversold. The course Of prices as
Interpreted by the speculative community
has been bullish.
the last week than was the stock market
High prices have been paid for new capital
supply, with large amount OF rev sure
ties impending.
The railroad and industrial corporations
have authorized an aggregate OF about
SZ,2JCWV,OOO Of new bonds, notes and stocks
IN the first nine months Of the year and
have issued about Sl,2JO 10000, leaving more
than lOJOOO1O Of new capital to be
raised out Of the offerings authorized
rms does not take into account bonds and
stocks Issued for the present quarter. other
demands on capital must also be taken into
account.
Terms of New Capital.
The terms on which new capital is being
obtained suggest that the actual money
market OF the world Is far less abundant
than the quoted rates for temporary credits
indicate. As yet foreign discounts and
nome quotations for time loans either on
Wall street collateral or commercial paper
do not express threatened state Of string
enCy
Foreign financial centers continue to re-
port loan increases and cash decreases
among reserve institutions, just as the
market has done here. In Wall street
money has ruled easy at and below per
cent and apparently a good deal of credit
- available in the call loan market on
these terms. Events Of the week show that
a large shifting OF loans was conducted.
Lenders are reluctant to lock up funds in
anything else than the call accommoda-
ton, many of those who have large inter
ests in the money market claim
Government futures Of cotton condition
published at the beginning of the week
made the average $50 and did not point
to a crop of any such size as would re-
store the difference between the world s
demand and supply which was so severely
disturbed in the last twelve months.
There is a disposition in Wall street
quarters to regard the strength which cot
ton prices have been displaying as the
token OF a rank SPECULATION for the rise.
There may not be enough cotton this sea-
1000 900 bales.
large enough to crafty. The corn crop
record, but at going prices the yield Of
the farmers Of the country by $500 900, 900
than was last years harvest Of the same
To date the western packing of hogs is
and financial record of the year, the
activities Of the farmer, the liquidation
which has occurred in sureties and In some
lines OF industry and trade, will have on
the costs of living and the costs of doing
business.
o date the western packing OF hogs is
100000 less than in the Corresponding
period last year, and bacon will hardly
be cheaper this winter than Il was last.
High prices and higher wages offer no so
luton for the problem of rising business
and living costs
The railroad earnings for the month
showed a PROSPEROUS state OF business,
taken as a whole. The August returns OF
the Norfolk g. Western the missouri Kan
sas & Texas and the New York Central
systems were depressing exhibits In that
they showed that increased traffic was
other hand the Illinois Central saved pTac-
tically all its gross increase, and for the
net gain in excess of the gain in gross
earnings.
Number of sales and leading quotations
on stocks were as followa;