The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-12-25
Shrewd Wall Street Men
Prophesy Year Will Be EX-
Ceedingly Prosperous.
RAILROAD EARNINGS IN
1910 FURNISH SURPRISE
Immense Sums to Be Disbursed
in Dividends on Decem-
ber's Last Day.
BY RALPH EMERSON.
81 Leased Wire to The Tribune.

BY Leased wire 10 Inc tribune.
NEW YORK Dec, 2t-Buslness was
past week The swing of the market
has not been more than Two points dur
Ing the last two weeks. and trading has
been limited 10 very narrow scope.
The sessions OF Tuesday and Wednes
day were moderately active. This &c
ton, to some extent, relieved the dull
ness OF the week and brought the aver
age daily trades up 10 265, 600 shares.
Natural 10 this season of the year was
the better investment demand for securi-
ties, especially for bonds
An enormous amount of dividend and
interest money Will be released on Janu-
ary /. 1t is estimated al as high as
s225 100000, against S2Oo,oco.o 900 a year
ago.
Two years ago, January disbursements
did not exceed sl00 900. 900, and the total
payments on stocks and bonds then were
about $50, 900 900.
The earnings of 1910 VIII be nearly
s1.21O.ooo. or course, this represents
an enormous amount OF new interest
bearing bonds.
Capital Earns Big Returns.
At the same time no small part of IT
Is the product OF capital that was earn
ing nothing in the earlier years and now
is highly productive.
case in point is the Lehigh Valley
railroad. whose dividends were suspended
around 1900 and which has Just been
placed on q. 10 per cent basis.
The bank statement for the week full
filled the favorable expectations OF yes
terday, although the actual Weekend
statement showed barely half as large
gains III cash had been expected.
The $1,000, 600 addition TO that account.
however more than offset a 5000, 900
loan expansion and the resultant increa Sc
In deposits, so that surplus reserves In
creased half a million. The actual sur
plus reserve is now slightly below that
OF this week In 1909 and is also less than
1 nih eny arc
II was favorable comparison.
Among other changes of the week the
excess OF loans over deposits IS cut down
"a 100000, That excess is now $3t 800 900.
II was s3S. 5000 600 a fortnight ago. and
Sl9.l00s000 at this time last year In the
closing week OF 1909 the loan excess rose
to S25,loo.0Qo, but disappeared altogether
two weeks later
The wide fluctuatlon Of the week in for
eign exchange markets calls attention to
what follows In January after the year
and settlement obligations have been ad :
1usted, The gold movement between
the United States and Europe the past
month has been sufficiently irregular 10
give interest TO the probable course of
exchange during the next FIVE weeks.
Railroads Are Prosperous.
Business men I'm Wall street are look
Ing to the opening OF the new year for
lines The merchants have enjoyed an
unusually large Christmas trade and the
removal or spring orders by the tobbers
calls for renewed activity among the
manufacturers OF all staple products.
The farming interests OF the country
nave mad prosperous season and their
prosperity will In a like manner find It's
way back TO the Industrial and general
business interests OF the country.
The surprising feature OF the general
trade situation is the manner in which
the railroads, gross earnings continue to
Increase. For the two weeks OF De-
cember this gain amounts to 7I02 per
cent, 1t compares with an increase In
two weeks OF November. as against the
same two weeks in 1909, of little over
l per cent, and for two weeks In October
as against the same weeks In 1909, of
less than per cent.
December's increase may be accounted
for somewhat by the earnings Of the
northwestern lines and lines centering
around Chicago, which. at this time a
year ago, were operating on a very low
basis on account OF the switchmen's
strike.
Other parts of the country however,
where the labor troubles were not fac