Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1911-02-19
new YORK STOCKS AND BONDS
Passing Of Control Of Missouri Pacific
Interests Financial Circles.
INDUSTRIAL LINES LOOK coon
Prediction that Reduction In the Cost
OF Living WIN Improve COndi-
tion of the LabOrinE
People.

NEW YORK. Feb. 1S.--(Special Telegram.)
The tone OF the stock market during the
week was not reflected on the general bust
ness conditions OF the country which con-
tinued with an upward tendency that has
been in evidence since the first OF the year.
The course Of the stock market was not
Illogical The market in its recent upward
trend, has kept pace with. II II has not gone
ahead OF the trade Improvement, and the
various speculative interests behind the
movement availed themselvs Of a temporary
broadening Of operations TO liquidate. The
passing OF the control OF the Missouri Pa
cific to two Of the most important financial
interests without any contest greatly in
fluenced the situation. This. however, did
not come soon enough to prevent what was
regarded as a very natural reaction,
In contrast to the reactionary spirit In the
stock market was very good investment
sentiment regarding new railway bonds
and notes, OF which there were authorize
lions during the week of about 81, 200, 600
Part OF these have already met with prompt
absorption. and ii Is understood that nego-
tiations for the balance have been COM
pleted, or are In a very fair way OF being
accomplished in the near future. Europe
participated in some Of the weeks absorb
ton and It IS expected to take a still more
active part in issues yet to be placed
Improvement I'm Industrials.
Probably the greatest improvements dur
ing the week along Industrial lines was In
the iron and steel. The increase OF 14h per
cent in the output Of the blast furnaces
of the United States Steel corporation from
the low point Of the year Is certainly
remarkable improvement, and this has been
Followed by a remarkable Improvement in
the workable capacity Of all steels In the
matter Of finished products.
The foreign trade of the country, as out
lined in the January statistics Of the gov
ernment, continues on q highly favorable
basis, and this, in itself. Is one OF the
most important features Of the general sit
uation Aside from purely financial affairs
the noted reduction in the cost Of living
through decline in the price of some OF
the leading articles Of food, viii have the
effect of improving the condition of the
laboring people.
Rains Affect Market.
This week the fall in prices of wheat
and flour attracted wide attention espe-
cially In view of the marked decline that
has taken place from the high point a
year ago. The Canadian reciprocity move
but still greater effect has been pro-
duced on the commodity markets by the
rains OF the week over a wide expanse Of
territory in the southwest The prospects
of winter wheat have been materially Inn
proved by these rains which means that
the farming community is preparing for
the planting and cultivating of large crops
during the season in the southwest.
1t is distinctly suspicious circumstance
that seems to be lending a rather re-
spectacle aggregate of money abroad just
now, although the negotiations for the sale
or some of the new sureties in Europe is
curious counter operation. That the
United States Is lender to London and
Berlin particularly results in great part
doubtless from the marked improvement
in our foreign trade since last August
through funding good deal Of the floating
Indebtedness to Europe by the sale OF
securities to European creditors and
through the excess OF commodity and mer-
chandise exports over imports in recent
months II might not be a bad guess that
international creditor rather than a debtor
Stocks strong mt Close.
Strenth and activity prevailing in the clos
ing hours OF q session of the stock market
that opened moderately active. marked an
unusual business for Saturday on the ex-
The reduction in the German bank rate
was regarded as favorable factor in the
opening, and the resumption Of dividends
on Southern Railway, preferred was. IN
the opinion Of the speculators5 an indica-
ton that the Morgan interests were inclined
70 take an optimistic view of the outlook
an advance OF IL points, while the common
started with gain Of nearly point
The Eries were affected sympathetically
by the southern Railway development and
their market prospects were canvassed with
a good deal OF interest.
An initial advance of IL points was scored
BY st. Paul, and both Union Pacific and
southern Pacific appeared to possess sub
stantial strength. Northern Pacific was an
other feature
While steel did not quite come up to its
London equivalent, II was strong, appar-
emily deriving a portion of its strength
from the differences as TO the attitude OF
powerful banking interests drawn from the
declaration of the dividend on Southern
Railway, preferred.
An increase of S3,S0OOOO in surplus was
shown by the weekend bank figures. This
was partly obtained by the addition Of
@6O0,OO0 to the actual capital holdings
about what has been estimated-but to
some extent due to the placing OF the
weeks new loans with the trust Companies
Loans at the associated banks decreased
s. 100000 on the week. The actual surplus
reserve Is now the largest for this time
OF the year since 1897.
Number Of sales and leading quotations
on stocks were as follows: