Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1910-06-26
NEW YORK STOCKS AND BONDS
Immense Half Yearly Dividends in
Sight for July.
RAILROADS ARE IN GOOD SHAPE
Gross and Net Earnings show
Healthy increases In All sections
oT the Country, East and
West.

NEW YORK, June 25.-(Specih Tele-
giaIn-J-1nc stock market tins week Was
unusually dun and 1eaturau ny declines,
aitnUugn there were exceptions TO time
Nnen me trend broke sharply upward.
mere Is a division OF opinion IN wan
street whether the market Is not seeking
nrm Level with the elimination or IN
tiatiOn against this opinion, students of
ire market say that political anu general
business CVnuluons are giving rise TO tluc-
Luatlous. 1ne program before congress and
the attitude of the legal department OF the
administration have a great deal to DO
with the restless condition of the market.
June finishes the FIRST half of the present
year. Inc end of the present months
writes tinis upon a very uncertain SIX
months, so far as the affairs of Wall street
are concerned. Looking out beyond this
period July promises to be very I'M
portant month. Statistics show that $685.
VVO,OUO will be dlsbursed next month in in
terest and dividend payments by corpora
tions. The dividend payments Will exceed
$S7114,0O0 and interest S1446110O. This is
a big increase over July Of last year and
shows a healthy business condition of the
market. Industrial and miscellaneous cor
porations will pay out In dividends S35, GIL
90 Railroads will disburse $S2, 100000 The
railroads. lead in interest disbursements;
They will pay out SSS, 734 900. Industrial and
other corporations aside from railroads VIII
pay S15,6S4O0o in interest.
Morgan IL Not Talking.
An utterance made this week by Thomas
f. Ryan, VINO is now enroute for Europe,
insofar as II shows the vast financial
power OF j. z. Morgan, says that
1t will require the combined genius
Of seven OF the most brilliant business
minds in the world to handle the affairs OF
Mr. Morgan in case the Napoleon should
suddenly face a condition compelling him to
relinquish active control of his present
enterprises Mr.. Morgan arrived this week
from Europe, but ASIDE from his declara-
ton that he would reappoint three trustees
to administer the affairs of the Equitable
Life Assurance society, he had nothing
to say.
given rise to some trepidation, but rains
nave now been reported through Minne-
sofa and the Dakotas, which is a very
good thing for the crops. The protracted
drouth promised for a time to be disastrous.
The advent of easy money in London at
this time Of the year is always more or
less of an influence upon the American
money market. What effect II will have
upon the present occasion is more or less
problematical. Bankers here MAY. avail
themselves of the opportunity to borrow
money abroad at cheap rates. There is
no immediate demand for money, although
a bull movement may be started for per-
sonal advantage. If this Is done there is
no doubt that the monetary situation here
this fall would feel It, A firmer tone is
asserting itself in the call money market
and by July 1 business will be done to a
much higher rate.
Condition of Banks.
During the present week New York banks
fency operations, From the interior there
was a net gain on balance of So, $4,000, but
this was partly offset by loss on opera
tidns with the government subtreasury OF
81, 029 900. From interior institutions $685.
600 currency was received this week and
| SO, 10000 was shipped into the interior:
An important incident in the railroad
| field was the action of the directors of the
Minneapolis & st. Louis in deciding tc
pay the semi-annual dividends of 2h pei
cent on the preferred stock, which was
payable in July This dividend has beer
! in force ever since 1900 For the last three
years it has partially been paid out of the
| surplus.
| While 1t is MT known that copper pro-
ducers have taken concerted action to cur
| tail the output, nevertheless number OF
important mines in the west are not work
| ing up to their capacity. The Anaconda
| Copper company is leading; it is in posi-
| ton to turn out much more copper than II
Is at present The genera copper r sidua
ment in sight for the next few weeks.
steel stock Dividends.
At the meeting of the directors of the
| United States steel corporation next month
! 1t is unlikely that there will be any change
| in the rate of IA quarterly dividend on thu
common stock. The balance available fol
dividends this year is estimated at H.2 Of
the preferred stock. The steel industry hai
revived to such an extent that there 1!
! talk of an extra disbursement upon tn,
preferred stock of the trust.
| Southern iron operators are showing more
| confidence. A number OF export orders
have been filled in the Birmingham dis
trict with the Tennessee Coal & Iron Co.
Taking forty important railroads o.
the east, west and south, 1t is estimated
the surplus for dividends in the presen
fiscal year will be $1S9, 100000 against tn,
present requirements of $1790OO,OOO. Boil
| the gross and net earnings of the railroads
| in general show healthy increases. Witt
allowances made for high wages, labo
| troubles and bad weather this year ough
! to be the best since 1906 for the majority
! of the railroads.
In the bond market principal interest il
| attached to the sale of $40, 600 st. Louis
| San Francisco New Orleans Texas anC
Mexican division bonds in the French mar
ket Other negotiations abroad are pend
| ing.
Humber of sales and leading quotation!