Omaha daily bee., 1911-06-11

calendar year thus far compare as follows:
January, $2ll, 600 900; February, SIS, 0OO, 900;
March, Sis 100000 April, Sl5s OOO,O0O May.
slO3, 10000; June, 3SO.OOO,OOO
New Business Tonic.
The best tonic for the Wall street man
who finds himself becoming chemically
pesslmistic is a trip west or south. Let
the banker or broker who can see moth
ing but disbursement ahead jump aboard
a train and stay on it until he has put
two or three thousand miles between him
self and the floor of the Stock exchange
He will then discover that the worries of
Wall street do not bulk largely in the daily
round of the people. He will find them
healthy, happy and going about their
daily vocauons with zest. Every man he
meets will impress upon him how that par
ticular locality is forging ahead and how
the fertile west is to overshadow the east
by and by.
II the Wall street man tries to emphasize
the seriousness OF this, that and the next
subject which engrosses Wall street he will
learn that nine men out of ten are very
little concerned over the fluctuations of
| stocks. In fact he will feel humiliated to
learn that his daily dolngs are given no
thought out there. But he will see In
spring proofs of progress on every side
and he will return to New York feeling
that 1t is a privilege to belong to such a
country. And should Reading or Steel de-
cline a point or two one day and rise as
much the next. he will reflect that after all
this will not stop the wheels of industry or
cause the sun to stop shining.
Great Coal Port Planned.
The Chesapeake & Ohio Norfolk & West
and thu n ra nInppfnu ~ Lo
Hampton Roads, Va, the greatest coal
port in the world. taking the supremacy
from Cardiff, Wales which has been in. the
van for over a century. Last year be-
tween 100000 and 100000 tons of hard
and soft coal were handled at Cardiff,
while Hampton Roads, with three distinct
piers at Lambert's Point, Sewalps Point
and Newport News. maintained by the
three roads, handled a grand total of
| 9520,S1S tons.
Coal operators in southwest Virginia and
West Virginia are planning to pool their
interests in the European and Pan-Amer-
lean markets. Selling agents will be sta
toned in Europe. and will act Jointly for
the miners OF the Norfolk district. The
roads will also place fleet Of coaling yes
sells in commission, sailing under the
American flag and carry coal into the
Saved by ShOrt-Term Notes.
That ubiquitous instrument, the short
term note, is 10 be used to save another
corporation. Missouri Pacific, instead OF
trying to sell bonds, VIII start off bv issu-
ing not more than S25 OOOOOO three-ycar
notes, AS the rate Of interest is to be
8 per cent. Lo difficulty should be faced
in finding purchasers. BY the end OF three
years 1t is hoped that the property will
be in such shape that either long-term
Obligations will be salabe on reasonable
terms or notes will be negotiable at a lower
rate OF interest. 1t will be recalled that
speyer g. Co., the new bankers for Mis-
souri, Pacific, utilized notes quite freely
In rsscuing the Frisco system from the
financial Generalization. into which it was
falling Notes can be sold when a bond
would be positively tabooed. Wall street
has been specializing on how the funds
necessary for the rehabilitation OF the
Gould System would be provided speyer
is Co. have promptly supplied the answer.
The usefulness, the adaptability, the charm
OF the short-teTm note are apparently in
exhs ustible.
Bankers Differ ON Finances.
Two Numerically opposite views are
held by bankers concerning the future OF
the money market. One contention Is that
New York has received such enormous
BUNS from other places that, 1T will be
Unable to pay them later in the year. espe-
cialy as speculative requirements are in
creasing, business demands are likely I,
expand new financing in volume viii have
TO be met and gold sent TO Canada The
ether view was thus expressed by the head
OF a very prominent institution: we can
! not find borrowers for our funds. We
wish we could. We will not lend under
2h per cent. hut that is not an unreason-
able figure. We have no fears whatever
as to the monetary outlook. Speaking for
this institution and at least one other, we
! could meet every possible demand with
the greatest OF ease. Unfortunately, gen
eral trade is very quiet and probably will
not he active before fall II is therefore
| impossible to induce the best mercantile
houses TO lay In large supplies OF money.
We ourselves have bought all the trust
worthy paper offered u.s. and could buy
more; our holdings are the highest In our