Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1911-01-08
MONEY SEEKS SECURITIES
Healthy Normal Business Indications
Please Finanoiers.
RAILROADS IN THE LOAN MARKET
Heads \ot Great .l.SustriaI Concerns
Giving Attention 60 Plans FOR
the Reduction OF Labor
Ry PRESTON G. ADAMS.

BY PRESTON c. ADAMS.
NEW YORK. Jan. 7-(Special TO The
Bec)-One OF the features of the opening
OF the year 1911 is "a healthy increase in the
demand for high class bonds. This seems
to be general and effects all classes OF
these securities. There Is In financial cir
Giles general belief that this means
healthy normal business without the
financing incident TO boom times, In
Nostors apparently are shy Of new ventures
Ia the line OF stock exploration.
There seems to be a disposition on the
part Of railroads and other great corpora
lions 20 come into the market for loans
for the legitimate extension Of business
when conditions are favorable. This is re-
garded as a good sign. for II they we're
not conveniently convinced that the pros
poets for business were good they would
not be willing to add materially TO this
fixed charge.
Want to Cut Labor Cost.
As a result Of the self-eXaminetlon of
methods which have been brought about
by great industries Of the country. there is
tendency to improve methods so that
labor cost may be reduced. This has re-
suited in considerable reduction in the
number Of employees in some lines. And
this Is likely to be permanent. While It
VIII be hard on those directly affected in
time there viii be real adjustment to new
conditions and a permanent reduction In
the cost OF production. This is particularly
true with the steel and allied industries
and with the railroads,
J. r. Rowland, who has been general
manager OF the Texas city steamship
company, IL now traffic manager OF the
Atlanta, Birmingham & Atlantic railway.
Mr.. Rowland is a first-ClOss traffic man
and the Atlantic Birmingham a. Atlantic
railway is to be congratulated in securing
him.
The many New York friends OF j. T.
Harahan are glad TO know that he does
not contemplate retirement from active
participation in railroad management be-
dency Of the Illinois Central. MIR. Hara-
hans plans arc yet Uniformed. Ho will
probably take a long rest before he gets
back into harness.
Consumption of Copper.
The domestic consumption Of copper In
1910 has been slightly larger than in 1909,
1906 which was the banner year for the
electrical companies, wire drawers and
brass founders. In 1906 the consumption
was estimated at 6S5 100000 pounds,
The consumption OF copper has fallen off
very heavily in the last few months, in
this respect going hand-in-nand with the
iron trade. and IL is evident that similar
remedial measures are necessary.
Stocks of unconsumed copper are greater
today than a year ago, the output is record
breaking and consumption is less. The So
called visible supplies in Europe are largely
a farce.
There has been so much discussion of the
size of the India crop recently that II may
be expected that the people who like TO
dwell on these matters will next turn their
attention to the size Of the crop Of China.
Cotton Raising in China.
LnlIh Is one COTTON producing. country
Of whose crop little is heard. China ex-
ports 100000 bales a year TO Japan and
these exports are constantly increasing.
Most of the cotton raised I'm China how
ever, is manufactured at home by hand
machines and therefore it Is very difficult
to estimate the size OF the crop. Japan Is
very much interested in China's cotton crop
and the japanese know better than any
one else how much cotton China pro-
duces. Some day they may conclude TO
tell the world but It Is doubtful. Some
IN cd To firRNpa nfNf Vlaau
estimating the per capita requirements and
deducting therefrom the importations of
cotton cloth and yarn. In this way it has
been estimated that China crop is about
100000 bales Of 800 pounds each. OF course,
such an estimate is not even approximately
correct. Some people who have visited the
orient believe that China produces over
1000 900 bales of cotton in an average year.
Texas leads the cotton producing states,
with $4,000 bales OF 500 pounds gross each,
with value at II cents a pound of 1929, $780,
600, Florida produces the highest selling
cotton in the country. Its Yield of IS 900
bales IS valued at q cents pound. The
lowest yield is the 1900 bales from Cali
fornia, although Virginia is not much
ahead of II with 1900 bales.
The fourteen cotton producing states, in
order of production in 1870 are Texas,
Georgia, Alabama, Mississippi, South Caro-
lima, Arkansas, North Carolina, Tennessee
Louisiana, Florida, Missouri, Virginia and
California.
bond and Note Issues.
New capital issues, consisting of bonds,
short term notes and stocks, have been
floated by railroad, traction, industrial,
mining and other corporations in the
United States to the grand total OF 81 .5is.-
H2,5I9 during the year 1910 a decrease OF
SIG, SiS, lOl as compared with 1909, when the
notable decreases in the offerings OF
bonds and stocks and a very large
increase IN the sales OF notes by rail-
roads. The total amount OF new capital
raised by the railroad and traction com
panies during the year was $S76,5Sl, 1888, a
decrease of NSS,62 ,soi, while industrial and
miscellaneous corporations issued $6l1,e 91,-
100, decrease of $24,722,2i0
Great Production of Coal.
The Coal Trade Journal in its review OF
the trade for the year 1910 says:
with this week we close year marked
by the greatest tonnage production in the
history of the American coal trade. 1t Is
truly remarkable that such a statement
can be made in view Of the uncertainties
that have attended many lines OF business
erdeavor during the last twelve months
and the fact that coal has achieved a rec
ord output under all the circumstances
shows TO how great an extent this fuel
enters into the affairs of daily life and
how Indispensable IL has become. We are
accustomed to irregularities in the produc-
uon or anthracite; the record OF the past
shows many ups and downs. But once
more II has been proven that II is most
extraordinary for more than two years In
quently 1910 offsets the falling off OF 1908
and 1903, with tonnage well up toward
the record figures OF 1907.
while OF course no accurate summary
OF production can be made at this time II
seems safe TO assume that the 1910 coal
tonnage Of the United States Tor the first
time In our history approached 500 10000
tons. OF this about s0OOO.O0O net tons will
represent the anthracite output-shlpments
as wen as fuel for mine use-and 40, 900 900
tons, or thereabouts, will represent the BIZ
luminous trade, an increase OF say 6OO 100000
tons over the output Of 1903.
KANSAS SUPREME COURT