Omaha daily bee., 1911-05-07
THE OMAHA SUNDAY BEE. MAY 7, 1911
new YORK STOCKS AND BONDS
Much Activity on the Stock Exchange
During the Past Week.
PROSPERITY FOR THE RAILROADS
Large Orders for steel Rails Are
Being Placed and Blast Furnaces
Indicate Considerable work
I'm sight.

NEW YORK. MAY 6.-(Special Telegram }
--One OF the principal factors in conditions
that have given a decided optimistic tone
TO business during the last week has been
the activity on the stock exchange which
has entirely overcome the stagnation which
prevailed during March and April
Compared with the dulness which pre-
ceded IT, the animation of the market has
been the token for speculation beyond what
had been predicted by market seers. vet
prices have little altered on the whole and
tn trans actions from day to day have been
much of a professional character.
In one detail the statistical record of the
country, as published this week. contained
an item that was novel and of no little
significance. This was the compilation OF
commercial futures, showing the largest
aggregate of small defaults for any April
for many years. including April. 1908, when
they reached their maximum after a Ions
SO far as foreign trade goes the weekly
port figures Indicate a matter recession,
which will perhaps be notable in the ex-
The high prices of farm products have
brought period OF prosperity in sight for
the railroads as may be noted by the
placing of orders for rail and equipment.
BiE Orders of steel.
The Carnegie Steel company reports rail
orders for 500,Oo0 tons for the Western
pennsylvania railways company.
The Florida East Coast order for 1900
IONS VIII be filled by the Pennsylvania
An order by the seabord Air Line for
1900 tons is divided between the Tennesses
sylvania Steel company.
The Seaboard Air Line has ordered ten
specific type locomotives from the Ameri-
can Locomotive company and ten consoli-
dated and five heavy switching engines
from the Baldwin Locomotive Works
The United States Steel corporation has
banked no additional blast furnaces lately.
ana is operating about 90 per cent of
capacity.
Finished production is on a basis of
This would seem to indicate shipments of
5000 tons day. which is at the rate of
abuot S0,50000O tons a year.
IN 1907 the steel corporation produced
100000 tons of steel. Operations today
are only slightly in excess of what they
were ten years ago.
Notwithstanding the fact that money
was apparently the dominating influence
in promoting whatever Improvement took
place in the stock market during the
quarters that wall street is starting in to
discount trade betterment in the not dis
tant future The argument used in favor
provement has come when business was
at low ebb. That this is the condition
at present is shown by the weeks de-
velopments. Bank clearings were a good
barometer Of the country's trade and show
a decrease for April of nearly II per cent
Every state reported a loss with the ex-
cepton of the South Atlantic section,
which gained 10 per cent.
As to Crop Outlook.
Optimism overrcaches itself in descant-
ing upon the glowing prospect in May. II
Is permissible to discuss agricultural con-
ditions in the spring, but there is no crop
prospect, properly speaking, before Au-
gust. Conditions to date have been gen
orally propitious and unusually So and
the probabilities are that the agricultural
outturn OF the year will be satisfactory in
amount
An active week on the stock exchange
closed with a dull session today, although
prices realized were those OF strong mar
ket.
Expectations OF favorable crop report
on Monday caused a final recovery today
from the early declines in the market and
the final quotations were not widely d.
vergent from those of last night. These
Same expectations caused a sharp break
in May wheat on the produce exchange
and all deliveries closed lower, with the
final trading extremely dull. The bank
statement too. was unfavorable. The sur
plus was slightly increased. but instead
OF the predicted gain in cash the actual
weekend figures showed a loss of 5000, :
CO., Loans were decreased SIS, 200, Goa
rather singular result in a week of ex-
panding financial markets.
There were. Of course. the foreign credits
to draw upon but the foreign exchange
market Of the week has not reflected large
acquisitions Of the sort.
Number of sales and leading quotations
on stocks were as follows: