The Salt Lake herald-Republican. [volume] (Salt Lake City, Utah) 1909-1918, 1910-06-09
CONTRARY VIEWS
OF RAILROAD MEN
President Brown Is Optimistic,
But Ripley Is Filled With
Proceedings.
STOCK MARKET AFFECTED
MAY STATISTICS FOR COPPER
ARE NOT ENCOURAGING.

New York. june s.-There was some
speculative hesitation reflected I'm TIE
action OF today'F stock market. partly
due 10 the rapidly Of the advance OF
the day before and partly 70 the con-
flict Of opinion over the situation Gre
ated by the railroad rate settlement.
The contrary views expressed by
railroad executives themselves was re-
sponsible FOR the conflict OF opinion.
especially the announcement by Prcsi-
dent Brown OF the New York Central
thai work calling for s.. 900. 600 expendi-
lures and orders for freight cars which
had been held up as result OF the rate
injunction. would be resumed in con-
trast with the assertion Of President
Ripley Of the Atchison, that his COM
pany would not depart fl any degree
from the policy OF retrenchment de-
cidcd on after the action or the govern
mcnt against the rate advances Lon
don Joined In q substantial way In the
early selling brought about by these
conditions
The heavy selling OF ST. Paul and the
discouraged fceiirE expressed In pub
iishcd interview with capitalist prom
fncnt in that party, were corroborative
or the conviction that a divergence OF
opinion existed between prominent
groups in the financial world.
Much attention was given 10 the
question OF railroad earnings as they
MWMNM DC AAANAANl W AAAN kN1NF AAAN -
OF rate advances unapproved by the
commerce commission, and the probable
period OF that postponement That the
advances would ultimately become ef-
foCtive was the usual assumption.
Railroad earnings for March are the
latest for which comprehensive returns
have been received by the commerce
commission from IS per cent or the to-
fal mileage or the country. The in
crease IN gross earnings in that month
NTrrnh ~ last shown to
be s31 .5S5.S0O. or 1884 per cent, and In
net $4,000. 200. or 11.f2 per cent Last
years earnings for March had regis
tered the shrinSage OF about $4,000
900 I'm gross earnings and S1O,OOO,0OO
On net earnings.
The May statistics Of the Copper Pro-
duccrs' association offered little ground
for cncoura cement. the months produc-
tion having been the largest with the
exception OF October OF last year for
any month since the association was
formed. deliveries meantime having
remained stable at about the level Of
the last three months, with the result
or another addition OF 1S,ff1,s1f pounds
20 the surplus stocks Of the metal. The
total surplus. which is thus brought up
90 1G0.f25.913 pounds. nevertheless rep
rcseuts only about six weeks ConsumD-
tive requirements at the present rate
OF demand. Quotations Tor copper were
lover both In London and New York
An Increase I'm pig iron stocks in May.
in spite Of curtaiied production, induced
n pr1 diction by the Iron Age that the
blowing out OF furnaces has not gone
Tar enough.
a favorable view was taken OF the
government crop report.
Money was easier. but foreign oN-
change received In response TO selling
OF stocks for London account. and In
spite Of predictions or reduction in
the Bank OF England discount rate to-
morrow
Bonds were firm. Total sales. par
value. s2.oG1.o00 United States g reg
istcred advanced Z per cent on call