Omaha daily bee., 1910-06-19
NEW YORESTOCKS AND BONDS
Market During Past Week Showed
Steady Gain in Strength.
MORGAN FIGURES ON A BIG DEAL
Said to Have Plans for Putting
the Equitable Life on n Mutual
OASIS within short
Time.

NEW YORK, June 1S-(Special Tele-
gram.)-TwO causes united this week TO
give the stock market a steady upward
trend. They were the return OF j. z. Nor
gan and the pending adjournment OF con
tuesday and his return is being celebrated
market.
Trading this week was listless, but there
was steady gain OF strength. The old
time drops which we're wont to characterize
marrow markets were missing.
Upon the return of Mr.. Morgan hinges
the program for the Equitable Life Assur-
ance society, The question OF renewing the
trusteeship to replace George Westinghouse
and Mr.. O'Brien will be settled within the
next fortnight 1t has been reported in
financial circles for some time that Mr..
Morgan aims to put the Equitable upon
mutual basis 1he fact that he has
project for this gigantic enterprise is pretty
Shrewdly guessed, but with characteristic
taciturnity Mr., Morgan has refused to give
an inkling OF 1t to the public.
1t is pretty certain that Mr.. Morgan in
tends 10 draw up another voting trust
agreement by which three financiers OF
administer the affairs OF the company The
names of the new trustees are not known,
not extend over a. year. When come
TO lealize that the gross assets OF the Equit-
able are more than s5ooOOo.OOO. we grasp
the gigantic Importance OF the enterprise in
business and financial circles.
Banks Make Gains.
On the present weeks currency move
ment banks gained 49, $4,000. On operations
win the interior the banks gained 49,, VVJ,
while on the regular account the SuD-
treasury, was a bet gain OF N,S6y,OOJ,
approximately 81, lO6,VJO was shipped direct
10 interior institutions.
Despite the somewhat pessimistc utter
ances yesterday OF T.. +. ripley, president
of the Atcnison, Topeka a. santa Fe, that
the SJO,vUVUUJ improvements of that road
had been stopped owing to the uncertainty
arising trom political conditions, the gen
ar4H laid affa n hi
Complaint. On the contrary, Developments
OF the last rev days nave been opposed
to sucn an attitude
Announcement OF the Hawley- oakum
syndicate carries the information mat
Cruers are beng placed for new locomotives
and cars to the amount OF SoOONVU.
Inc agreement which has peen entered
into between the Southern Pacific and the
St Louis o. san Francisco upvlates the
necessity of spending $'OVVO,O0 Tor new CON
s(ruCuon, aILhougn traction OF THIS
amount will be spent IN Improvement.
Plans for Extensions.
The Southern Pacific had Already surveys
maze IN eXas Tor extensions winch wound
nave cost approximately the amount
named, but the tra1IIC agreement DetN cell
these two lines does away wiIn the neces-
sity for this contemplated construction.
Inc gam IN revenue by the oeapodrd Air
Line gives me road Wlue nldieIn over
| ne interest II must dsDurse On It's new
| bonds. InIs road now seems IN taIr way
10 assume a new position among the pros-
|
| Inc Steel market has assumed more
| cheerful outlook. The United states steel
| corporation is running ABOUT 90 per cent
| VI ILs capacity Ihe Cruclbie steel COM
| pany or America has declared ON ITS pre-
lerred stock tne regular quarterly dividend
| VI Ia per cent, further dividend or o.S
| per cent in each ana a scrip dividend oI
| ~ per cent. Inese extra dlvloenos are no.
| overdue.
| Ia the bond market brokers are adVis-
| ing taxing up the snort term certificates.
| There are many of THESE on the market al
present, many of them being issued by
railroads for equipment funds.
Dizziness Prevails Saturday
The market opened dull and narrow to-
day. Union Pacific started win ue-
| cline of u of point which II never re-
covered. southern Pacific was tractionaiIy
| lower but ST. PAU scored an advance
withStanding an ADVANCE in LONDON,
| Amalgamated copper opened lower.
=. In the first hat hour the dizziness was
extreme, only ABOUT thirty stocks opening
| tendency in the hawley stocks, o.. & y.
losing "a ON initial trades. a new low
record Was lndue Tor the present down.
ward movement by Toledo q w eStern.
Inc return of Colonel Roosevelt was
not a market factor in view OF the former
presluent policy of keeping silent on
| ponucai ana business topics. The lndict-
! ment of the eaulng members OF the al
leged cotton poor was also without influence
| as "a market factor.
Towards the end of the first hour the
duIlness was enllvened by drop in G. ~
w.. Inc list rallied, however and the
market closed active ana strong The
number of sales were Loo, 469 snaTes.
Can money was "a nominal.
Sterling exchange was strong today,
rates advancing " per cent. The bond
| market was dull
Numper vi SAFES and principal quotations
L follows.