Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1910-05-15
THE OMAHA SUNDAY BEE. NAY Is, 1910.
NEW YORK STOCKS AND BONDS
Although Listless Market, Nothing
to Indicate Weakness.
ENGLISH TRADING A BIT LIGHT
Some Criticism Because st. Paul
Places Securities Abroad In
stead of I'm the United
states.

| NEW YORK, May tA-(Special Tele-
gram.)-While the stock market was list
less through the greater part of the week.
| this did not indicate weakness; on the con-
| trary there was an undercurrent of strength
which was manifest while the trading was
sllght. The absence of English markets the
last two days of the week and a falling off
IN English trading earlier had no effect
| upon the United states market.
1t was feared that the death of King Ed
ward would affect the worlds money mar
kets, causing a tensity which might be
embarrassing. From day to day this week
mere mas been no appreciable effect on the
market Call money has been maintained
upon an equal rate, varying between Sh and
ia per cent. Time money is a shade firmer
with a slim demand.
In connection with conditions in the
money market the tremendous influence
OF the Standard Oil company in financial
af1airs Is revealed Standard is, perhaps,
the heaviest lender in the world to rail-
roads and Industrial corporations From
time to time within the last ten days there
nave been reports shat Standard is put
tlng millions upon millions in Wall street
ana when we consider the marvellous re-
serve or the corporation the possibility of
such action could not be disputed. The net
surplus set aside by the Standard since 1eO1
Including the present year, is over SSl5 900
wv Notwithstanding this, the corporation
az tne present time has more money out
the world. This is merely cited to show
the substantial manner in which tisht
places could be tided over without the ne
oessl.y Oh securing foreign money should
OH eAcepuohal opportunity arise.
Good Market mt Home
AT the present time there is much criti
S ISL. relatlVe to the action of certain cor
poratlons, notably the Chicago, Milwaukee
~ 81 81, saul railway, seeking foreign funds
tnrouSh the sale of bonds abroad 1t is NOT
maze necessary on account of lack of
! Ii2sey In this country. The bonds could be
n noiu mere quite as easily as abroad. The
loylra
Wy at the present time has been so flooded
win ISSUES that better rate for the bonds
uam De secured abroad. That leaves more
money Tor immediate use here but The
of the country "e'ei' 20 out
an The bond G, market has not responded in
any marked degree to the PLACING az cor
tam debentures abroad. The American
o ouI,u market is congested. slight in
depar 9 IN ACTIVITY GU Is noted in the bond
SHqpaItNheht or the stock exchange but n
rs not OF such a character as to give ~
significance. In the private market tbare
nestle demand VI "o-
new York banks this week gained cash IN
inc me extent OF SL3l3COO, From the interior
me mere ,a was heavy flow of currency, the
ne i sam from that source being in~the
neighborhood of S6OOO,OOO. on operatione
th M" sne interior there was a net gain to
sme banks OF S259,OOO. The United States
acIl9 2 with the New York bank show net
count p.e oS %, t me government on all ac-
NoNAeS VI PGiooE,UUU, net PAYMENTS ba
eoNeiHIleht 10 the banks, $26, IA, 900
Earnings of Railroads
IL Is interesting to note the railroad news
OF the week. According to this source II
y. salu 81. Louis Southwest is earning at
the rate of 315 per cent on its outsta ndtne
stock That is looked upon as a satisfsN
| Tory showing, Notwithstanding il is lower
nan estimates on account of partial failure
81 the cotton crop. The earnings i'm tho
Increase of $23, O0O ~ '-i'
The Gould railroads continue to report
large increase of business. Wabash. Mis-
souri, Pacific and Denver & Rio Grande for
nine months show an aggregate increa SO
OF 10 per cent. The net earnings of these
So, O00,O 600 1870 ~ 0'eA
The Chicago, Burlington & Quincy has
announced it's budget for the next twelve
months which carries sufficient for So 0Oo.-
w expenditures for new construction
1here is much speculation as to the ac-
T TSity OF James,. Hin in the northwest.
inns builder is working the way of his
lines down through Oregon and a new con-
tract for 125 miles of track already let will
of that state. The Hill lines then will cmt
into the virgin strip of the finest timber
land in the world.
Steel CurtnIIs Output
The United States Steel corporation has
begun TO curtail its output, not for want
or orders, but to maintain more even
equlnDrium in the law of supply,
southern iron andN steel men are ex-
|
look. Members of the executive committee
or that company returned to New York the
other DAY from an inspection tour through
4Iapama and they have spoken nothing
but words of glowing tribute to the new
industrial SOUTH
In the copper situation the same old ele-
ments and the same old cry prevails: The
production must be curtailed. Copper metal
men declare that Improvement will unques-
ttonably come just as soon as the output is
lessened.
There is much speculation over the size
of the years wheat crop i'm order to COM
pare the growth of the worlds crop to the
Increase in population. 1t is notable fact
that While the population has increased
very rapidly the crops of this precious
grain stuff have>not increased
The anthracite coal situation has been
bettered by the bituminous strike. An I'M
usual amount is being mined and being
shipped.
RumOrs of n Sale.
There was continued strength In
Canadian Pacific, Wabash and Rock Island,
but these stocks were without influence on
the general list, No credence was given to
It, but the rumor was spread that Canadian
Pacific had acquired control of both Wa
bash and Rock Island,
Reading declined nearly a whole point
and Missouri Pacific was dun. Amaga-
mated Copper was helped by the announce
ment of the completion of the negotiations
by which the Butte properties of Senator
| Clark will be purchased.
There was bullish activity in International
Harvester and United States Rubber. The
bullsh activity around IL o'clock was more
pronounced i'm Amalgamated than else
where and as result this stock attained
fnew high figure on the movement.
The market closed narrow but firm. Total
sales were 209,5O3 shares. Money fOn call
was nominaly 3 per cent today. The bor-
rowing was very light The sterling mar
ket was firm, with rates five to ten points
higher.
| The bond market was dull