Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1910-08-28
NEW YORK BANKERS READY
Fixed to Meet All Crop Moving De-
mands Promptly,
NO DANGER OF A MONEY SQUEEZE
Financial StringenCN IN Gradually
LOosening aud bankers Are
Cohtented with the Pres
emit Outlook.
M PREsroN c. ADAMS

NEW YORK Aug. G-(Special to The
Bee THE New. YORK banks are now ready
Tor whatever demands may be made ON
them tor moving the crops, aud that they
do not now anticipate any serious money
that they are loosening up In time loans.
There Is no more umid man than your
New York nuancier. He Will shy at the
slightest thing and at once begin 10 hoard
his dollars The fact mat the automobile
sales to the farmers had gone to unusual
proportions frightened him half to death,
and In five weeks the bank surplus account
jumped from S9OOO,0OO to S550OO000.
A jimmy was Almost as etteCtual I'm get
ting money from the banks as a request for
time loans on tirst-class collateral The re-
tusal TO heed appeals for accommodation.
throughout the country that grave trouble
was brewing, a deduction not wholly un-
Justittable inasmuch business firms
were being charged lamost panicky rates
Tor leglttmate facilities. IL has become
virtually Impossible to negotiate commercial
paper. Although the output was kept down
TO minimum, the absorption was so poor
that supphes We're accumuiaung in inoon-
venient quantity while loans on high
grade Stock exchange collateral were not
usually procurable under per cent All
this has been changed.
Ought TO Help some.
The effect OF this vote face on the part
of the leading eastern bankers cannot fail
to be Widespread and to alay the uneaai-
ness that the extreme precautionary meas
ures had aroused Confidence is now felt
that our crops can oe marketed without
unduly straimng our monetary resources;
currency from the interior will naturally
become an outflow, yet the country bankt
have been so potntedly and repeatedly told
that they must set their house in order
that their demands are unlikely to be alb
normal Then Europe's resources are stu
open to Already we have taken soma
SlS,OO0,VO0 gold Money Is plentiful and
cheap in Paris that Influential borrowers
here have been obtaining credits there by
means OF issuing finance oils We will
have to send more or less gold to Canada
within the next month, but conditions there
/ ar 70 nrOhAhlX
fail below the average. Altogether, there
Tore our monetary position mas undergone
! a gratifying change for the better.
Prosperity of Cotton Mills.
In face of the walls from the New Eng
land cotton mills that the high prices OF
cotton are running them, some figures
which have Just ueen made public would
seem to indicate that they are not so badly
OFT after all
For Instance cotton manufacturing COM
panies having their head offices in New
Bedford ana capitalized in the aggregate
at S34b65, 100 have during the first six
months OF 1910 paid out 81, 1885, 100 IN diyl-
oends. or nearly per cent year. For the
FIRST six months of 1909 the same companies
disbursed 81, O47 in dividends. For the
four years ending June 80, 1910, the Amer
lean Thread company paid dividends ag-
gregatng SB5I5,l61. For the first six
Per cent,
Amoskeag Manufacturing company ...u,. IL
American Thread company. 10
Pepperell Mills company. ..,.,..,,,......,,. IL
Massachusetts Cotton Mills company.
Boston DUCK company ...,'..,..,..,..'''''' ~
New England Cotton Yarn company.
Wampanoag mills NEUTRALITY-SUSPICIOUS..
American Linen company. q
Cords mills 10
Warwick mills ACKNOWLEDGEMENTS.
Marlboro Cotton mills........................
| Not one OF them less than per cent
and three OF them more than double that
amount What other American industry
can show like earnings?
Apple Crop Conditions.
i
River Apple Growers association, and one
1 of the best posted authorities on apple
conditions in the Pacific northwest is
making his first visit east primarily with
the view of studying conditions in the
several market centers and particularly in
New York. Mr. Shepard Is a grower Of
apples Of many years experience and be-
lieves that the market Is susceptible Of
considerable development.
| In speaking of this trip he said; The
object of my visit in the east is to see
| what kind of apples are most wanted, and.
! among others, to find out what we, as
growers, should do to bring our fruit into
| great prominence, and more general con-
| sumption. visited the International Apple
Shippers convention in Niagara Falls, and
at the solicitation of Mr.. Wagner OF Chicago,
! the associations president delivered an
| address on grading and packing apples.
| After the convention l visited the more
! important growing and shipping sections
! in New York state From my observations
! / should say that the crop Will be good
and be of fine quality The fruit is well
| "Out in the far west the conditions are
| also good. 1t looks now as though Oregon
! and Washington will produce this season
at least 5000 car loads of apples. The total
number of cars in California, Colorado and
| Oregon and also Washington is estimated
| about 10000 loads. The principal varle-
ties grown in the northwest are the New
| tons and Spitbenbergs. In the Hood river
section we will have fully 500 car loads
this season, all vartties.
| Steel Trust Affairs.
| The Steel Trust is eating up the orders
on its books at the rate Of more than
! $500 tons per diem Wall Street regarded
this showing as quite satisfactory which
throws significant light upon existing ideas
as to the state Of the steel trade. The first
monthly report ever issued by the corpora
ton shows untitled orders on hand at the
end Of July Of 3s70,931 tons against 4,257, 1eG
! on June 80, the decrease for the month
! having been, therefore, 2s6Sa6 tons. The
shrinkage during the previous three months
| was 1,144,720 tons or at the rate of 3S1.bs0
| tons per month, against $500 tons in July.
| The monthly report affords no clue as to
| the percentage of capacity operated.
| point that might with advantage be dealt
with in these statements, since II is the
avowed policy of the company to give
the public the fullest information possible.
Duluth Grain Market.
| Dill ,ITTvH Aug q 1--Qantanhar