Omaha daily bee., 1910-05-29
NEW YORESTOCKS AND BONDS
Report of Illness of Morgan Affects
the Market.
DENIAL IS CABLED FROM EUROPE
France 20 Handle Sc. Paul RRilrond
Bonds and is Also Anxious
for Other American
Securities.

lacked much OF the listlessness of the week
ture through the fact that there wss no
trading today and will be none on Monday.
There were several rumors and develop
ments which AFFECTED the market. One of
these ives another report that j. z. Morgan,
ST., Is seriously Ill abroad. So persistent
was the rumor that today the contents Of
London were made known. showing him
to be In the best Of health. The board of
governors of the Stock exchange has
started an investigation to see If It can
learn the source Of the latest Morgan re-
port, but it IS a safe hazard that the source
cannot be found. Such reports start with
out foundation and are exaggerated un-
| consciously until one has built a mountain
OF mole hill.
The stock market felt indirectly the
nervousness of the grain and cotton mar
kets due to. the assertion of James A.
| Patten In Chicago that he would retire
from all active trading by July 1. This
| knocked the bottom out of the grain mar
ket and investors and spectators who sud
denly found themselves caught in grain
mad to turn to the exchange for relief.
Receipts of Money Large.
The receipts of money from the interior
are still large Despite the fact that this
was generally a holiday the bank state
week New York banks gained over $46nO.O)O
on their currency movements. On transfer
operations with the interior there was a
ret gain amounting to &117,0Oe.
| On the United states sub-treasury ac-
count. instead of large balance Of receipts
lately shown, there was a balance of nearly
100000 Approximately 1881. 600 currency
was received from the interior during the
week by New York banks, while $3i6l, 0O)
VAS shipped direct to interior institutions
from this center.
The shipment of gold from Paris and
Berlin to London has eased the foreign
exchange here We are about to enter a
i month OF extraordinary disbursements.
\ Dividend and interest Disbursements in
June are estimated at SS5, ,000 including
payments on all classes of stocks and in
terest coming due during the month
100000 more than was dlsbursed in June,
1903. Among the largest dividends paid out
in next month are the following:
company, S4024. 00O International Harvester,
900; Standard Oil, $3.50, 454; United
Dividend payments during the month are
s, 1000 - ''''''''''' WING 80 y - -
The various railroads will dsburse ap-
proximately $6,75.0O0.
France Takes the Bonds.
A great deal OF interest was attached to
the announcement that the French bank
ing syndicate, consisting of the Banque de
Paris ct des Paysbas, Credit Lyonnaise and
the Societie Generate pour FaVoriser de De-
veopment du Commerce, has agreed upon
an issue price of 81 for the 50,9O0,0O0 worth
of st. Paul railroad debentures. 1t is be-
lieved that another announcement will be
7 made shortly to cover another placing OF
! American bonds abroad.
There is no doubt that st. Paul will earn
, Its full dividends in this fiscal year. The
m 5 in April OF Of tina hat sa r1sd psro
year ago. This will wipe out the deficit,
e leaving margin.
=; Louisville & Nashville, it is estimated is
earning 20 per cent on its outstanding
stock. With more than month of the
!, present fiscal year stil remaining, Louis,
/ vile & Nashville earnings up to May 70
i were 100000 in excess of the entire year
: last year. The enormous gains of the road
: ment in railroad and financial circles.
/, Colorado & Southern will not be put on
!, q per cent basis when the directors meet
;, early In June. At the present time the road
! Is earning enough to provide for an in
" crease, but the Hill policy Is against early
increases. 1t is shown by figures that It. tbs d5
l. road has earned per cent on its $3lsOOO,O Ot
;, of common stock, the larger portion OF
y which will go into the surplus fund.
e Union Pacific EARNINGS.
: Union Pacific promises years surplus
= for the common stock of approximately 1874
l. per cent. The increase in the earnings this
:, fiscal year Is estimated at ~, ,OO0 with
Q decrease of 81, 100000 in fixed charges.
} The Southern Railway has been threat
: ened with labor difficulties Speaking OF
the southern field, nothing definite has beer
l. done to extend the line of the New Orleans
Mobile & Chicago road--the reorganized Mo.
. bile, jackson q Kansas Cfty-north from
l. Middleton, Tenn, to the Ohio river. Al
though the gross earnings have increased
J. they have not yet attained a point where
= the holders of the line believe they car
y launch it to $6S0OO,O0O worth of new con
NJ The feathers were among the most active
~ shares during the weeks trading, due t.
\. the action of the directors OF the Contra
n Leather company on Tuesday In taking NJ
~ action upon the common stock dividends
a The regular dividend on the preferred wa!
- voted.
Z The officers of the American Smelling an(
" Refining company announce better copper
>. metal conditions. Shelters ought to show
- up IS per cent on the common.
A The ore conditions in both the Pittsburl
and Birmingham centers remain dull.
z The bond market this week was more &C
i, tive than usual, interest centernE I'm thu
N ST. 900 equipment issue of the Pennsyl
Vania railroad,