Omaha daily bee., 1910-12-26
new YORK STOCKS AND BONDS
Enormous Amount Of Dividend Money
to Be Released First of Year.
XMAS TRADE UNUSUALLY coon
Gross Earnings of Railroads Com
tinue 60 Increase, indicating, IL IL
Claimed, Most Prosperous
Business Condition.


NEW YORK. Dec. H.-tspecial Tele-
Wall street during the week The sWlhs
OF the market has not been more Inaa
two points during the last two weeks anu
trading has been limited to very narrow
scope. The sessions CT IuesoaS .r So
Wednesday were moderately acuNS. -. NJ
to some extent, relieved the Guinness Nt
the week and brought the average daly
changes up TO 265O00 shares. Nalutal "
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. II is estimated that as high as $780,
600 against S2OO.OO0.OO0 year ago; Two
years ago January disbursements dla not
exceed 500 100000 and the total payments
on stocks and bonds then were ABOUT
$50 100000. on the earnings OF 1917 ihey
, Will he nearly $l,25OOOO. or course; I Ills
represents an enormous amount. or new
interest bearing bonds. At the same ulne
no small part Of II Is the product OF capt
tai that was earning nothing in Inc
earlier years and now Is highly productiye.
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 fultulleu
/ the favorable expectations OF yesterday
showed barely half as large gain m ca 81
as had been expected. The S2.@OWO al
dition to that account, however, more than
offset a Sc 200 900 loan expansion and the
! resultant Increase i'm deposits. so that sur
| MUS reserves Increased $500 900 The actual
surplus reserve is now slightly below tlaI
/ of this week in 1902 and is also less than
| in 1907 or 1904. With other recent years II
makes a favorable comparison.
Loans Exceed Deposits.
/ Among other changes OF the week the
excess of loans over deposits Is cut down
| 100000 That excess is now Sj4SOO,OOO. II
| was $4,000 a fortnight ago, and
/ Sl9 10000 at this time last year. At the
/ closing week of 1909, the loan excess rose
/ to SIS, 10000 but disappeared altogether
| The wide fluctuations of the week in
foreign exchange markets direct Afternoon
! to what usually follows in January aItei
the year-end settlement obligations have
| been adjusted. The gold movement be
! tween United States and Europe in that
month has been sufficiently irregular tc
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 g
general revival along all industrial lines
| 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 manufacturer
| OF all staple products. The farming inter
! eBts of the country have had a prosperous
| season and their prosperity will in a like
! manner find it's way back to the industrial
and general business interests of the coun
| try.
Railroad Earnings Increase.
The surprising feature of the genera
| 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. 1t com
pares with an increase in two weeks Of
| November, as against the same two weeks
in 1903, OF a little over 1 per cent and fol
two weeks in October, as against the SAINT
weeks in 1909, of less than 2 per cent.
December's increase may be accounted
for somewhat by the earnings OF the north
western lines and lines centering arounC
Chicago, which at this time year agC
were operating on a very low basis on &C
count Of the switchmen's strike
Other parts of the country where thes'
troubles were not a factor have been show
/ ing good gains. One section in particular
that has made a fine record is the south
| Traffic there holds up strong and so doe
general business, and there is every evi
dence that the country below the MasoI
all others in the United States Of larges
business profits.