Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1911-01-08
new YORK STOCKS AND BONDS
Closing Of carnegie trust company
mas Little EtIect on Market.
OTHER HOUSES NOT INVOLVED
banks Make IA strong showing tor
the Week and Railroads Place
Orders for New Equip
ment.
TIlent.

NEW YORK. Jan. 7.-tspecial Telegram)
The closing Of the Carnegie Trust com
pany did not affect the stock market TO
tHat the failure did not involve the sra
Dilty OF other institutions and that Il re-
suited from methods OF banking peculiar
( 70 that concern no doubt explained the
market indifference to the news.
After reacting tractionaly at the OPEN
ing, prices recovered quickly and the whole
market ruled strong, with unusual activity
Tor a Saturday. Buying OF Reading
United States Steel and the usually active
shares continued throughout the morning
toward the close the whole market became
buoyant, with heavy buying in ali QUAR-
tiers, final prices in general being Virtually
| the highest level of the day.
Inc principal event In the money market
was the continued strength in foreign ex-
change with a further advance OF !. cent
IN the price of London remittances
Ihe heavy buying OF exchange within the
last Few Gays has also reflected repay
cured in that market by New York bank
ers several weeks ago, when unusual eff
sorts We're put forth to strengthen the
New York bank position In anticipatior ~
market. 4S'
Banks Make Strong Showing.
The banks made a very strong showing
even Tor the week In which the return
TOW OF dividend and interest money is
s.Ways pronounced. In spite Of a SIU24s,-
Nv gam IN actual cash-the increase by
the way being 5000, OUO more than the gam
indicated by yesterdays preliminary Tore
SesI OF the Week currency mOyement-the
81, 63l, 800 Va
The restoration Of ease to the money
market Increased with the lapse OF time
ana presented favorable contrast to the
course OF affairs in the first week OF IyiO
rms was great stimulant to the Invest
meht demand, and confidence promises TO
extend into the future. The first inn
pOFLdnt loan of the will D., \
that OF New York City for something ike
$0OWO,0O, and will be brought out before
the close OF the month.
The best feature OF general trade has
been the large final retail distribution of
winter fabrics, a natural result of the low
temperatures that have prevailed all over
PigirOn Output is Off.
One industry of the country still lacks i'm
proVement The December output of Dig
Iron fell off per cent from NovembeT
ana sina reached the lowest monthly statement
cember, 1919, was 80 per cent and with this
condition prices were lower
New business In finished steel products
continued at low ebb, with further price
cutting which invests with much import-
anoe next weeks conference.
INC Increased inquiries for cars and locomo-
uyes formed the only bright spot in the
industry. ''
The first large railroad eouipment mr.
DER OF the new year was reported In the
purchase OF 1876 locomotives by the Harri-
man lines The expenditures on the allied
hartman lines on this single purchase will
De between S,SOO,OOO and S4O0O,OOO
Inc pennsylvania Railroad company has
asked. TOT bids for loo new stei cars,
mostly coal cars.
The strength shown in the stock market
IN the early part OF the week did not en-
tlrely fulnll the expectations for a pros
porous week IN the opening or the new
year The greater bulk OF trading appears
70 nave been furnished by the professional
ness " '"S'-
Ranking Interests Hold Aloof.
Most OF the leading banking interest stfll
held aloff from market Operations ana
were apparently opposed to activity AT thai
time and hence there was nothing To in
olcale January rise, such as has oe
CURED In years past. The bankinr corr
mhnlty now 10 interested chiefly IN forth
Conlhs loans ana many argue that an
acuVe stock market at the present 1unc-
ture MgnJ interfere with tine successful
eouragement is offered at present FOR q
QUIZ campaign in stocks by leading men
VINO frequently figure on the consIrictivs
side OF the account Nt'''
Ihat the situation Is ripe for the absorn-
ion OF new bond issues has been clearly
unenl0hsuated by the renewed activity in
the pond market, when gained force o.
the week came 10 a close. in tnis v,oS
the aetual surplus enlarged in tine sum
SlEooS'UO. The actual surplus STANDS. there
Lore, at Olo,i4o,UVV ana the aVeraEe at
2o,oo1OOV' lnasnuch as the trust COM
pahles also reduce loans So Ob OOO Ar
Hnole banking position has been naIeriai,N,
strengthened during the week
Nuihper OK sales ana leadlng quotations
on STOCKS were a