Omaha daily bee., 1910-08-21
THE OMAHA. SUNDAY BEE. AUGUST q. 1910
new YORESEOCKS AND BONDS
Hill Dissipates All Reports and Ideas
of Financial Stringency.
LAUGHS AT TALK OF DEPRESSION
Big Corporations All Declaring Or
Preparing TO Declare Divi-
bends Upon Their
IL Stocks.

NEW YORK. Aug. 2O-(Special Tele-
gram)-The fluctuations on the Stock ex-
much. They we're the customary move
ments which have become 80 common.
Until the political situation throughout the
United States becomes settled and only then
will Wall street become normal
BY Wall street is meant, just that, for
the basic business conditions throughout
alone trumpets a note Of alarm, but Wall
street is nervous center and II moves to
extremes. AS barometer II only shows
the true business conditions when those
underlying conditions are at extremes.
James J, HILL chairman of the Great
Northern, who came to this city the other
OF good cheer. AS a constructive financier
and a student who Is not guided by Wall
street opinion. Mr.. Hill Is qualified to speak
from intimate knowledge. He disslpates
the report of coming stringency and ne
points out in evidence of his claim, that
railroads in the northwest are doing an In
creased business Mr. Hill laughs at the
suggestion that the country Is tending
toward depression. So does Jules Bache.
Of the firm of J. s. >Bache & Co., who ar
rived yesterday from Europe
Arthur Stillwel president of the Kansas
City, Mexico & Orient railroad, who, like
James ]. Hill is builder and constructive
financier, Is in this city after a European
trip, where he placed a bond issue. Mr..
Stillwell Is a harsh critic Of Wall street and
Wall street methods. He declares that con-
ditions through the west and southwest
could not be better.
Foreign Capital Cautious.
But" says he, through absurd stories
set afloat in Wall street foreign investors
are being made unduly cautious" The
directors of the Standard Oil company this
| week declared the regular quarterly divi-
dend OF 20 per share on its 100000 shares
| of stock John ID. Rockefeller's portion Of
this dividend Issue is 81, $4,000. Including the
! dividend to be paid In the last quarter of
| this year the Standard Oil company from
| 1882 to 1910 inclusive will have paid $7l0,-
| O00, 900 in dividends The earnings of the
company in that time are 81, $780, 900, 900. The
company Is constantly increasing its sur
| plus.
The report Of the American Smelling
company for the year ending April 80 last
has been issued and II shows per cent
| earned upon the common stock in that
total earnings of $1,546,27S, surplus over tn,
| dividend. Although this Is not as good al
1903, nevertheless 1t 10 satisfactory.
The directors of the International Har
vester company will meet on Monday t
take dividend action. In the matter o.
| dividends there Is no industrial company
better fortified than the international Haf
! vester company. The earnings of the com
pany this years are expected to show 6
| substantial increase of those reported las
year. Indications pointed to $4,000 OOt
business for the year and deducting
per cent dividend from this the sum OF
sS,6OOOOO would be left for surplus. In fact
the revenue is about 10 per cent on the
companys common stock.
Some Railroad Earnings.
The report of the Kansas City Southern
railway will appear next month and 1t /
confidently expected according to statistic
already furnished) that the company will
show earnings OF between and per cen
upon the common stock. The gross earn
ings are the largest in the history Of tn
company.
Gross earnings for the Pere Marquett
railroad for the fiscal year just closing wer
the highest In the roads history. The rail
road earned between and per cent upol
its first preferred stock. This is the frs
time II has earned a dividend upon Its frs
preferred and II Is now, assured that divi
tdends will be disbursed beginning June
1911, when the cumulative clause goes int
effect
Increased business on the Norfolk 4
| Western railroad is leading to new stool
and bond issue for bond improvements. A
the stockholders meeting in October
$50 600 900 bond issue will be voted upon.
The report of the Rock Island road show
| that the gross earnings for the fiscal yea
, | of 1910 are the biggest on record, being owe
: $5.OOO,OOO higher than the gross Of an
} These figures are given to show tina
0 actual conditions, broadly speaking, /shoul
cause optimism rather than pesslmism-
Aside from the financial side or the raj
: road question, improvements are goin
, along as planned in the winter. Regulf
passenger service will be commenced Nor
/, day over the Western Pacific from Sa
Lake to San Francisco. In Texas exter
,, sions and rolling stock improvements ar
under way.
!. Plenty of Money.
1 There seems to be plenty of money in Il
}. interior and it Is doubtful II New Yor
e will be called upon for funds to NOV
q crops.
:, week New York banks gained $6OOO,OV
:, Returns compiled show that from IN
}, interior, 32677,O00 more cash was receive
than was shipped, while from the SUI
|, treasury there was received S,3lSOOO mol
e than was paid. Approximately $500
> was received from interior institution
d 36S7 900 was shipped to the Interior ,
In the copper metal field the news OF u
, week was the report of the America
4 Smelling and Refining company. Dlrectol
" of the Utah Copper company meet Ior olV
/ dend action later this month. II Is Gu
- rently believed that the declaration VIII
. rs cents per share.
> The United States Steel corporation r,
e. ports conservative business, with plenty
y orders Colorado Fuel and Irons next al
- lnual statement, which is in the printer
y hands for the year ending June ~ lSlo las
, will show net earnings of N,eOOVVO, or
"a increase of nearly IS per cent over u
y Iprevious year. ,,4
J; CONSERVATORY bullish. There is good SEM
,, ment prevailing among investors ana iuh'
a seem plentiful, although, would-De lhFe
Q. tors are playing waiting game. -
D; Following was the range OF prices on IN
h New York Stock exchange: ~,
AmslSSmated Copper -. LOO &c ee% y