Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1910-10-02
BUSINESS TONE IS SPLENDID
Only Few Lines in Which There
is Slack Trade.
IRON AND STEEL SLIGHTLY DOWN
Despite the HiRh Price OF COStoH
Dry Gods Market Is KccpinE Jp
+. Nicely-BeRrs seem 60
Hold winning Hand.
BY PRESTON c. ADAMS.

by PRESTON. c. ADAMS.
,, NEW YORK October l.-tSpseciSI 20
ness world is good as the fall season
opens. although II must be confessed that
IA some important lines the outlook
IL not as bright as Il might be
The greatest disappointment at the
moment relates to the iron and steel In
dustry, The steel business is waiting on
ing for the decision OF the Interstate
Commerce commission I'm regard to the
i.m Imp question Of an advance INC, ~, IN
IN sight The hearing In Chicago is to
be followed by another In Washington,
aud con, will be closed The conceusus
OF opinion in railway and banking circles
Is that the commission will render a de-
men who are finally TO adjudicate in the
premises undoubtedly realize the impor-
the meattne, the oountrys basic industry
sion in volume and there has been some
shading In prices here and there
on the other hand. the situation IN
the dry goods trade is distinctly good
despite the high price OF cotton. the
business appears to be on a sound and
satisfactory basis,
Course of Foreign Trade.
one feature Of the trade situation
which is causing comment, II not concern,
is the course Of our foreign trade.
AbulluB AilN tlbul tlhbStu lllbAhie VI
1910 our exports OF merchandise have
exceeded our imports by almost $1,000
goo, whereas the balance of exports dur
sec C4 oooOoO in m 1908 fully 'S9oG'OCCSSo od In
lS NSS GO oo in ooo 1905 s,b SUonSS T,
n6 Se ten9eney thers
having been an excess Of more than So
100000 in imports. OF course, this ship
ton will turn trade in our favor during
the remaining months of the year, but
II is clear that the balance VIII fall very
short of any recorded In decade and a
half.
Since the terrible panic of 1873, previ--
GUS to which there have been a series OF
been a continuous line of surplus ex-
ports, broken only in 1858. During the
on an average exported S49O, 900, 600 more
merchandise annually than IL has im-
ported. These figures are not viewed
with complacency by the financial COM
mittee.
October Payments.
The october interest and dividend dis.
6vrsements. according to The Journal
ISl5s7. which is an unusually large
amount for any month apart from Janu-
airy and July. This is an increase Of 3d.
| OF this gain S5,SO0,0OO was in divi-
| dends, many corporations having In
also quite a number of initial payments,
! The Increase in interest disbursements
| was due to the large output of bonds and
| notes, especially by railways, within the
| year.
Bears are winning.
Brokers are doing their best TO re-
main loyal to the constructive side of thu
market, but their patience is being sorely
| tested. First and foremost, no business
| IL coming to hand. and IL is hard work to
| keep cheerful when nothing is coming in
| and everything is going out. Some firms
are gravitating toward the bear side.
Sentiment rather than conditions de-
| IL a market be rising IL is easy enough
to smile, but when IL goes down and down
| on intense dullness, then only the bad
! features can be seen. And there are
! plenty of the latter discernible If hunted
for through blue glasses.
On the other hand, the out-and-out bull
Is also able to produce sound ammunition.
The principle question today is: How
long will the doldrums last? Some are
| hopeful that even before the elections
in the minority. Most brokers will be
satisfied If a broad, healthy market
starts on November 3.
. Scope of Rate Hearings.
AS a result OF the developments in the
railroad rate controversy at the hearings
| in New York and Chicago II is asserted
that q much larger scope will be given
to the pending rate matter by the Inter
state Commerce commission than was
originally intended. The members OF
the commission have been gradually
abandoning that attitude of comparative
Indifference which was in measure
characteristic of them at the outset anc
are making up tn cir minds that they
must recognize, the duty of going into
the rate question with great thorough
ness apropos of pending complaints.
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