Omaha daily bee., 1910-12-25
NEW YORK STOCKS AND BONDS
Enormous Amount Of Dividend Money
to Be Released First of Year.
XMAs TRADE UNUsUALLY GOOD
Gross Earnings of Railroads Com
time 60 Increase, Indicating, IL is
Claimed, "a Most Prosperous
Business Condition.

NEW YORK. Dec. A-Cspecial Tele-
gram. )-Eusiness was Unusually oul III
Wall street during the week. inc SWING
two points during the last two weeks ana
trading has been limited to a very marrow
scope. The sessions Of Tuesday and
Wednesday were moderately active. This,
to some extent, relieved the dullness or
the week and brought the average daily
changes up to 265,OO0 shares Natural to
this season OF the year, was the better
investment demand for sureues, espe-
cially for bonds.
An enormous amount Of dividend and in
terest money will be released on January
L. 1t is estimated that as high as S20OO1O,-
900 against 500 100000 a year ago. Two
years ago January disbursements did not
exceed $780, 100000 and the total payments
on stocks and bonds then were about
$3.50. 900 900. on the earnings of 1910 they
represents lpi an enormous amount of new
interest bearing bonds. At the same time
no small part Of Il Is the product OF capt
tai that was earning nothing in the
earlier years and now is highly productive.
A case In point Is that Of the Lehigh val
ley railroad whose dividends were sus-
pended around 1900 and which have Just
been placed on a 10 per cent basis.
The bank statment for the week fulfulled
the favorable expectations OF yesterday,
although the actual weekend statement
showed barely half as large gain in cash
as had been expected. The 2,SOOOO ad-
dillon to that account, however, more than
offset a IS. 100000 loan expansion and the
resultant increase in deposits, so that sur
plus reserves Increased $500, GOO. The actual
surplus reserve Is now slightly below that
Of this week in 1909 and is also less than
in 1907 or 1904 with other recent years It
makes a favorable comparison.
Loans Exceed Deposits.
Among other changes Of the week the
excess OF loans over deposits IS cut down
$4,000. That excess is now 34,SOO,OOO II
was S3S 10000 a fortnight ago, and
SIS, 100000 at this time last year. At the
closing week Of 1903, the loan excess rose
to $25,l0O,OO0, but disappeared altogether
two weeks later.
The wide fluctuations of the week In
foreign exchange markets direct attention
to what usually follows in January after
the year-end settlement obligations have
been adjusted The gold movement be-
tween United States and Europe in that
month has been sufficiently irregular to
give interest to the probable course OF eX-
change during the next five weeks.
Business interests in Wall street are look
ing to the opening of the new year for a
general revival along all industrial lnoS.
The merchants have enjoyed an unusually
large Christmas trade and the removal of
spring orders by the jobbers calls for re-
newed activity among the manufacturers
Of all staple products. The farming inter-
ests Of the country have had prosperous
season and their prosperity will in a like
manner find its way back to the industrial
and general business interests Of the coun-
try.
Railroad Earnings Increase.
The surprising feature of the general
trade situation is the manner in which the
railroad gross earnings continue to in
crease. For the two weeks of December
this gain amounts to ~ per cent It com
pares with an increase in two weeks of
November, as against the same two weeks
in 1909, of little over / per cent and for
two weeks in October, as against the same
weeks in 1909, of less than 2 per cent
DEFENDERS increase may be accounted
for somewhat by the earnings of the north
western lines and lines centering around
Chicago, which at this time a year ago
were operating on a very low basis on ac-
count of the switchmen's strike.
Other parts of the country where these
ing good gains One section in particular
that has made fine record is the south.
Traffic there holds up strong and so does
general business, and there is every evil
dence that the country below the Mason
and Dixon line may next year be one OF
all others in the United States of largest
business nrofita.