Omaha daily bee., 1910-06-09
NEW YORK STOCKS ANDBONDS
Railroad Rate Settlement Incites
Hesitation in Speculation.
MUCH ATTENTION TO EARNINGS
Net Returns shown TO BE Large Fol-
lowing Drastic Economy Practiced
In I0Os-CrOp Report En-
cOuraRinR.


NEW YORK, June S.-There was some
speculative hesitation reflected in the action
Oh today's stock market partly due to the
lapldity OF the advance OF the day before
anu party TO the conflict OF opinion over
the situation created by the railroad rate
settlement. The contrary views expressed
by railroad executives themselves were re-
sponsiole for the conflict OF opinion, es-
peClally the announcement by President
BroWn OF the New York Central that work
calling for $5OO0,OO0 expenditure and orders
Tor freight cars which had been held as a
result or the rate injunction would be re-
sumed, In contrast with the assertion OF
President Ripley of the Atchson, that his
company would not depart in any degree
from the policy OF retrenchment decided
on after the action of the government
against the rate advances. London Joined
IN substantial way in the early selling
brought about by these conditions
The heavy selling of St Paul and the
discouraged feeling expressed in a published
interview with a capitalist. prominent in
mat party, were corroborative OF the con-
viction that divergence OF opinion existed
world.
Much attention was given to the question
OF railroad earnings as they will be az
tected by the postponment of rate ad-
NdnceS until approved by the commerce
commission and the probable period of that
pOstponement. That the advances would
ultimately become effective was the usual
assumption. Railroad earnings for March
are the latest for which comprehensive re-
I
commission from IS per cent Of the total
mileage or the country The increase I'm
gross earnings in that month over March
OF last year were shown to be $S1, 5S5 500 or
l5.4 per cent, and In net SsOOOOO0. or IL go
per cent. Last years earnings for March
| hsa already shown increases over the pre-
cedlnR year, 1905 of $22190,07S In gross and
$i4'SO3SOO In net. The lean year OF 1908 for
march had registered shrinkage of about
SS a: IN gross earnings and s1OoOO,OOO In
net earnings The drastic economies in
hHiua In
part by the heavy reports now current,
atho9gh advances In wages which have
s sSSiti& peen granted, are pointed to as
adGitionai future requirements.
| Inc May statistics Of the Copper
PRODUCERS association offered little
ground for announcement the months
production having been the largest with
the exception of October of last year FOL
any month since the Association was
FORMED deliveries meantime having re-
nained stable at about the level Of the
last three months with the result OF
another addition of 1874 ,S14 pounds to thu
surplus stocks of the metal. The total
lSO; 1926 pounds. nevertheless, represent:
only about six weeks consumptive require.
ments at the present rate of demand
in London and New York. An Increase
OF pig iron stocks in May in spite of cur.
tailed production induced a prediction by
me iron Age that the blowing out Of
furnaces has not gone far enough. Sell
ing or the metal industrials, especially
Amaigamated copper, was feature O,
kthe late backset in stocks, which CLOSED
| with prices generally at small declines
favorable view was taken of the gov
eminent crop report, although its appear
ance after the wheat market had CLOSED
| left the financial; district without the in
| dex usually relied on to interpret the re
port. Money was easier, but foreign
exchange recovered in response to sellin,
| OF stocks for London account and in spit,
| of predictions of a reduction in the RanI
OF England discount rate tomorrow.
Bonds were firm, Total sales, par value
$2OSl,OOO United States 2s registered, ad
| vanced Is per cent on call
| Number of sales and principal uuotation,
| on stocks were as followsI