Omaha daily bee., 1911-02-12
THE OMAHA SUNDAY BEE. FEBRUARY 70, 10
new YORK STOCKS AND BONDS
Business Outlook Keeps on Growing
Brighter.
ACTIVITY OF The RAILROADS
Orders for Additional Rolling stock
Are Placed and Missouri Pa
cific stock Moves Up


cific stock Moves Up
ward.
! NEW YORK Feb. 1l.-tSpecial TelegramD
/ The business outlook continued 10 grow
! brighter during the week Increased
orders and specifications for locomotives
ana cars were received by plants during
/ the week. The Hartman lines which
/ recently placed orders with the Baldwin
/ Locomotive works for 1906 locomotives
| have apportioned the orders for the diff
terent roads most Of which are to go
/ TO the west and the southwest
The United States Steel corporation is
/ now operating about So per cent Of it's
| blast furnace capacity, an increase of APP
proXimately 10 per cent from the low
| leNel reached several weeks ago. Within
the last week or two, the corporation has
oIoWn several furnaces and re-employed
In the neghborhood of 10000
This week increased orders and specifca-
tons for locomotives and cars were re-
ceived and thus the equipment industry
mas better future ahead Of 1t, after pro-
longed dulness. The improvement in the
steel trade was even more marked with
an increasing demand for finished products
generally. The gain in figures was rep
resented by an increase in the untitled
orders of the United States Steel cor
poration at the close of January OF 436 162
tons, as compared with those at the end
OF December. This is the first increase
in months and derives its Importance from
the fact that it marks the turn in the
steel Industry from depression to reviving
activity.
Crop Conditions Favorable.
Crop conditions are favorable for con-
tinued prosperity in the agricultural world
The slight decline in the price Of cotton
had the effect of drawing Increased orders
from foreign centers, which was a stimulus
to export trade.
The copper producers statement for the
week was not so good. Its best feature
was an apparent further decrease in
production during January amounting to
$4,000 pounds; but the chances are that
TINS has been owing more to the weakness
or the metal market than to any recognition
by producers Of the desirabiity of curtail-
ment, so much discussed last year. on the
other hand domestic deliveries were the
smallest set forth for any month in the
records of the producers association, while
exports shrank 80 100000 pounds. The result
OF these changes was an increase in
domestic stocks at the end of January of
about 2O5OO,OO0 pounds.
The collapse of the bull speculation in
several commodities, especially coffee, cot
ton and wheat means a reduction i'm the
cost Of living. The adoption by congress
or the reciprocity agreement with Canada
would lead to still further reduction,
and the significance Of all this lies in the
tact that it would bring contentment to
the wage earners of the country and pre-
vent that almost constant demand for in
problem to corporation managers.
The Money situation.
The monetary situation has been gem |
orally favorable to borrowers and il looks |
NOiN IuCU as II prospective railroad /.
financing would be carried to a success I
tul issue and at lower interest rates than
at the close of 1910. The decline in dis /
count rates abroad al such prominent !
financial Centers as London, Paris and
Berlin Is encouraging to American corpor- |
atoms and II certainly looks as If Europe !
would take considerable amounts of |
American securities in the next month or /
TWO. Our own money market has been |
very easy with free supply of capital, |
except Tor long maturities and these are .
held more or less firmly, largely because !
or the expectation that the treasury will /
sooner or later place on the market $780, /
OOO OF Panama canal bonds. The alb |
sorption Of funds by the treasury would !
exert a greater influence in hardening
mon, rates than the absorption by cor
poratlons. The question of the future of !
the money market, therefore, is likely TO /
loom INTO greater prominence before long, !
as active treasury and corporation Dor
rowing in connection with trade improve !
Went VIII deplete bank reserves
Missouri Pacific Soaring.
Trading was dull and mostly profess
sional on the stock market today Esne- |
clally was this the case in the closing |
hour OF business. This came at the close
of an Inactive session
Although the market was dull I'm the
Iirst hour or so, its tone was good Price
changes were small, but they were gem
orally on the side of improvement and J
complete absence of pressure suggests
that the decline of the last half hour of |
Friday had resulted from bear selling and |
t On Ine bears We're unwilling to attempt |
A new high record for the present move
ment was made by Missouri Pacific ano
Texas Pacific was strong in sympathy. Be |
lleI appeared to be growing stronger that |
a change in the management Of these roads
would soon occur. For upwards of q quar-
ter OF an hour trading was dormant. This |
was unusual and appeared to indicate that
market sources were pretty evenly sal.
anced. Strength in consolidated gas was
feature, 1t resulted in large part From
buying to anticipate the dividend action
next week,
Some LOnn Figures.
Another large expansion of loans on tho
week figures-the increase was $40
100000, making the total increase of sIt5,-
SOOOO since the first week of January
was the governing influence in today's
bank statement. The gain in cash was
itself much smaller than yesterdays esti-
mate ioreshadoWed; as against that esti-
mate OF 100000 net receipts, the as
soClated banks add only 81 ,SOOOyO to their
holdings. The surplus reserve ACCORDINGLY
declines, but the loss of 81 GOO 600 ia not
great, and the actual surplus still remains
oOO 900 ahead of 1909 w.
The only incident of Importance in bust |
ness ABROAD today was another somewhat
unexpected foreign requisition on London's
soid supply, The government gave out
today Its figures on our country's agri-
cultural exports in January and they were
hlghiy interesting. There was, as is usual /
IN that month. considerable decr.asa,
from December, but the value of last
months shipments or the sort ran SAL 600 =
w ahead or January 1910 Here Is a strIk-
ing gam, though II stil leaves the total
Wen below January OF 1908 or 1907 IL |
hardly need be said that cotton exports
plhSed the chler part in this increase; they
We're $SS,bOOOO ahead OF 1910 and were In
our history. 80
Number OF sales and iead:nE quotations
on STOCKS were follows:
.,,-, Sales High Low. Gloss