Omaha daily bee., 1910-07-24
THE OMAHA SUNDAY BEE. JULY "a, 1910
NEW WORKSHOPS AND BONDS
Market is Dull and Average Prices
Continue Low.
ESTIMATE ON GENERAL BUSHES
Cell Money the Lowest In Months
and Railroads All show Large
Gross EarninEs.


Gross EarninEs.
NEW YORK, July 2a-Cspecial TeTe-
gram -Narrowness and dizziness are still
the dominating factors In the stock market
The average price OF Industrial and railroad
shares has not imnroved; on the contrary
II Is both lower than Il was this time last
week last month and last year. The
monotony Of the present state OF the mar
ket has been broken recently only by
The settlement of the Penng-rvsnia rail-
roads labor difficulties and the promised
settlement of the labor troubles on the
Grsnd Trunk Railway system had but little
The crop outlook, which is always an
element OF Importance, lie not eagrting the
feeling OF optimism which ought 10 be due
from promising outlook. James j. Hin of
the Great Northern and President Harahan
OF the Illinois Central unite In conservative
expressions of encouragement
Some. deductions might be drawn from
the situation which now confronts Standard
oil. The Standard group of capitalists is
Since the federal authorities demand an
investigation into the affairs Of the oil
trust, 1t Is known the giant monopoly Las
been attached on every side. The subsidiary
companies which make Up the Standard
nave come In tor their share OF legal diff
culties. The STANDARD is now doing SSO,OOO,-
900 worth OF business year. Profits have
not obviously been decreased and yet the
stock has been dropping on the curb IN
securities upon the exchange. Some pro-
fess to see relationship in the fall of
Standard, despite the brisk healthy state
OF Its business, and the STEADY drop OF
shares upon the stock market
Twenty Fer Cent Shrinkage.
The shrinkage in the general business of
the country Is estimated at 20 per cent. Not
withstanding this circumstance the leading
Industrial companies have orders booked
now to keep them running until the 1rst
of the new. year and this fact alone ls sur
fnaf yR0ulaF dividends
will be paid. AS to the dividend outlook In
the first half of 1911, everything will depend
on the trend Of conditions OF the last nan
of the present year. In the case or steei
there should be an increase of orders
The United States steel corporation VIII
make no Shanse In N ITS hiaHos Of the YEAR
Its surplus for the common VIII run IN e1-
cess of II per cent, even II the earnines
months. which is not likely. Earnings OF
| over SIS, 0O0,0 900 for the second and th1rd
quarters are assured by orders on manu- az
T'he standard OIL company is now doing
| the largest business in Its history. liners
will be no change in the dividend rates VI
standard oil this year. 49,,
The International Smelling and Refining
| company Is making IA per cent upon us
stock As soon as the success OF inc new
| Utah smelter is demonstrated, an advance
! in the dividend rate will be forthcoming.
! II IS possible and probable that the STOCK
will be put on 10 per cent OASIS
| Tobacco Uncertain
| The American Tobacco company faces
| an uncertain future, due to the possibility
| Of a decision within year OF the OniIeo
States suit against the company. Inc
American Tobacco company is ENJOYING Ine
best period OF its career right now. IN
| ternational harvester is earning 10 per cent
for its common stock. 1t Is quite possible
! that when the directors meet next "eeh
| they will recommend an increase ia the
dividend rate.
OF course much depends upon the crops
in the railroad field from now on until
late autumn. AS conditions now present
themselves, tho roads will have ample
| traffic.
Great Northern has on hand more thar
$40 OO0 600 for its stockholders. The last
| year has seen a new high record established
/ for Great Northern with gross earnings OF
$62 100000. The company gained nearly
5000. 600 in the Proceedings years trsffic ano
win show probably earnings Of 9.5 on Its
stock.
g. Rio Grande's surplus for the fiscal year
Just ended is $s,O5O,0O0 This is per cent
upon the common stock. The gross earn
in1s for the year we're G,50oOOO In excess
of the company's previous years higf
record.
The Chicago, Milwaukee & Puget Sound
railway est Pauls western extension) gav'
a good account of itself In its initial year
When the official figures are compiled Il
will be shown that the road has earned
81 100000 gross, and 100000 net.
The Baltimore & Ohio has made new
record In it's gross but not it's net. Thi
line is placing heavy orders now for equip
ment.
Call Money Low.
Cali money was offered yesterday and to
day at the lowest rates since last April.
The money market is easier and in view
OF the $7550,O00 which is coming in on thu
present gold import movement, monetary
conditions are quite favorable indeed. Or
operations with the interior banks TIA
week received &c, $4,000. while on operations
with the United States subtreasury New
York banks made a net gain of S. 326, 900
In addition $1,600,000 gold was received
from Mexico, making in all a total gain o.
+, | $685. 900 by New York banks. This is thu
largest weeks gains in a number o.
, months.
The bond market is undergoing some eff
feet from the reports which are accompany
ing the institution OF the postal savings
, bank system. The postal savings bank in
stitution will be accomplished fac
within six months and its ultimate effec
upon the bond market Is worthy of NOR,
than casual speculation.
Much depends upon the amount of none!
which pours into the new banking institu
ton in the~first year OF its existence Tn
deposits with the United States postal BAN
5 | in the first year are not likely to be larg
{ enough to stimulate heavy bond buying b!
+: depository banks.
: No serious cross current OF Investment 4
likely to set In. Nothing more than
(; healthier bond market could hardly result
, Number OF sales ana leading quotations
J; on stocks were: