The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1910-08-01
STOCK MARKET IN
VERY GOOD SHAPE
Stability Of Business Evidenced
By Big Dividends
RAILROADS ALL RIGHT
In Spite of Calamity HowIers OF Wall
Street This Year IL About ms Pros
porous Financially ms Could
Well Be Expected 44-
RAILROADS ALL RIGHT
BY RALPH EMERSON

| New York, July 31.-July has gone out
with the stock market In better and
healthier shape than it has been for some
time. Beginning on Wednesday sudden
strength manifested itself which has been
moving stocks upward steadily.
1t is estimated that dividend and in
terest disbursements for August total
$4,000 which Is $15.00o,000 more than
was paid out in August of last year. In
dividends so, $685. 900 will be paid out next
month and $3s,s27.0oo in interest on bonds
This allows a margin that will be amply
filled
By the end of August. ending the first
eight months of the present year, there
will have been paid out In dividends
s507, 755 900 and in interest $590,36 900 or a
total of $l.0SS, 11s.0oo. This is more than
a hundred million dollars higher than the
aggregate paid out during the same Pc
Rod last year.
Railroads lead in both dividend and
interest disbursements next month, fol-
lowed BY industrial corporations.
These figures are eloquent. Despite the
calamity howlers in Wall street, these
tremendous sums show the stability OF
business and the solidity of railroads and
corporations. They show that more bus
mess is being done now than was done
at this time last year and even at that
1909 was looked upon as highly pros
porous era.
The chief item of news this week with
a bearing upon the stock market was
the acquisition by Kuhn, Loeb g. Com
pany and an English group of bankers,
of the Rock Island, Lehigh Valley and
Missouri Pacific stock held by the Pear
son-Farquhar syndicate. Wall street lie
full of rumors that new trans-conti-
mental railroad system is being planned
with the above mentioned roads as the
nucleus. The holdings include big in
terest in the Denver and Rio Grande and
the Wabash, so the system is already
practically linked.
The possibility Of q new trans-conti-
mental railroad system projected by
Kuhn, Loeb & Company, the British
and Gould interests has apparently had
good effect on the market. The pur-
chase of the securities. in the above man,
ed lines has shed a great deal of light
upon subject which has been In the
dark for a long while. Ever since the
Rock Itlsn6 furry last winter. the hold
ers of the bulk Of Rock Island have been
an unknown quantity, and quality, too
for that matter.
The Kuhn Loeb s. Company deal has
placed the Union Pacific In strategic
position. for the banking interests are
closly allied with Union Pacific and South
ern Pacific. 1t is no wonder then that 1ar-
rinan interests have been gaining In
strength and climbing in quotations fol-
three days The Hartman issues have
more than this coming to thank for their
gains. The preliminary report for the
fiscal year will soon be issued and hear
it will be highly satisfactory. In add.
tion TO this the usual dividends will be
declared at the regular meetings next
month,
In the money situation New York banks
gained heavily this week and It 10 now
freely predicted that the local-~financia
institutions will be the mainstay Of the
middle west when the drains commence
as result of crop moving.
Currency received from interior institu.
tons amounted to $10.5S3.Oo0. Only }274s,.
900 was shipped into the interior. New
York banks gained $2.271 COO on operations
with the United States sub-treRsury. In
addition to which the gold import amount.
ed to 100000. The net gain in cash by
New York Sanks this week totailed %1o,.
100000 :zs 81
It has been frequently stated regarding