Omaha daily bee., 1911-05-21
SCHWGB FEELS CONFIDENT
Captain of Steel Industry Takes No
Stock in Pessimism.
ROSY sPECTACLEs FOR BUSINESS
Isaac GuRRenheim Finds EnGlRRd
New Enjoyina Good Trade and
German Business Especially
Promising.
RY PREsroN c. ADAMS.


NEW YORK, May 20.-(spocial to The
BeeD-Leaders OF industry continue to look
! al conditions through rosy spectacles. and
look Keep their forebod.ngs to themselves.
| Not only is the situation to their minds
satisfactory here, e1t abroad as Well For
departure Tor an European trip, had this
TO say;
cradle grumblins last year over poor steel
conditions, but at the end OF the year the
report or the various steel companies
best year In history. Some people are com.
planning now. but production for the last
dence OF which is found In Iron produe.
ton, which has been running at the rate
of close to 25oCoOoO tons a year,
For several weeks there was a falling
off In new business, but lately the rail-
roads and certain other consumers OF steel
the market. / believe the next turn will
be for the better Money Is easy and
there is plenty OF It awaiting Investment,
The demand for high-grade bonds is pro-
rounced The country is trying to forget
politics and business interests In general
better buying Of steel By the railroads OF
late, The railroads have been much of a
| factor in steel for year or more past,
to find them in the market as large
buyers before a great while. There has
] been more or less pesslmistic talk the
steel Industry since the first Of last year
! and | believe II is about time TO become
little optimistic. A good foundation has
already been laid Tor business revival
GuRgenhcim's Views.
! Then Isaac Uuggenhelm, on his return
! from abroad, says:
IN E.ngIEnd business is good and In
Germany exceptionally good / found that
GeimAaIy ~ UuyIns lnJie copper tnen ever
before. rms Is due to the great expansion
OF business that Is taking place there.
And A. Dewitt Suyler, director of the
Pennsy luvania railroad who has been
awsy since January, says;
sentiment toward American securities
seems to be good abroad and the general
Keeling excellent. The big supreme court
decisions are anxiously awaited by the
toreign financial interests although do
not think they are having very deter
rent effect on purchases OF our securities.
The railroads stronger than ever despite
the decision Of the Interstate Commences
commission. These are SIMPLY typical"
Mining IL Profitable.
Holders Of stock in American mines and
metalurgleal works found the first four
months OF this year unusually profitable
ones, reports to the mining world showing
that no mines and works distributed $685.
l34,145 among their shareholders,
While largely dependent upon the profits
| OF some OF the above companies for their
diMdein,ds' the declarations OF the seven
added to the total of the four months
500. 7eO-making grand total OF $685.
In classifying the dividend payers OF 1911
the gold silver, lead and zinc producers,
numbering eighty lead wItn SiNJz4,SGO.
Since incorporation, however, they rank q
poor second TO the ooppers, having TO their
credit S190, 2b, S46 while the twenty-three
coppers have disbursed sS74 4llT3l, eauiva-
lent to lIS per cent on the issued capital,
as compared with 81 per cent on the for
mer.
Legislation for Investors.
Investors can find no asylum free from
! legislative harassment. When Germany APP
plants were heard that Investors there
| would seno their money out of the country
hrsa ane trsneh s9vern , passed meas,
/ the same cutlery was raised. In the United
States our financlers have stormed foe
administration. But now comes the British
government with the most paternalistio
piece Of Legislation ever essayed by any
| government. Llody George, the man who
| precpitated the last general election by his
| budget, has brought forward q scheme TO
nnS az an workers between the ages OF II
| principal of insurance against unemploy-
! ment Is to be introduced into the engineer
| Inf ana building trades as an experiment
| with view Of extending the plan TO other
| industries. Not only so, but the govern
ment is to spend millions IN waging war
| against consumption. All this on top OF old
! age pensions means that the taxpayer will
| have TO bear very heavy burdens. Capital
may fret and fume, but whittier can It flea
Notwithstanding all their enormous sur
pluses. the largest financial institutions OF
|
| their demands for the highest grade Of col-
| lateral, nor will they consider for a mo-
msnt paper not Of the very highest grade.
| Nine institutions out Of ten would rather
| lend money Stock exchange collateral
| at per cent than release funds on inactive
banks are acting with similar conservat,Sm.
I Every one has taken in sail least squait
arise when the supreme court decisions are
| rendered. 1t is this very caution that tends
to swell the surplus reserves carried by
banks and trust companies,
Ironing out "Kinks."
One OF the secret grievances of shippers
against railroads has been said to be that
| shippers are unable 20 bargain and hhggle
for their transportation they did when
4 their existed competition, and that passes
and other favors have disappeared. A way
has been found to overcome this feeling.
ridden on passes A All Sia life a Is G aeprTSd
| of them he feels that he is deprived Of
something that belongs to him; he will pay
he has been travelling free 1t becomes the
| business of railroad managers to iron out
these kinks in human nature. In the west
| the railroads are conducting what they
call Get Acquainted" trips. All
NO Action on Paris Bourse.
There is more talk than action in Paris
regarding the listing Of American securities
Almost every week a report is gFavely pub
| TO be elevated to the parquet, but so far
these reports have seldom been followed
| W aStloI. AtChlhpnt according TO state
fnents widely published. 10 already TO re-
! ceiye this honor $4,000 900 having been de-
posted In France against the necessary
bankers receipts, Then II was said crcuTu-
stanttally that American Telephone shares
are IN line for similar promotion, but fur
| theT developments are awaited Perhaps
| President Vail gave the movement a boost
while he was abroad. The European in
! vestor Is not at the moment buying many
American securities. London has taken
large stocks Of New York revenue war
rants az per cent or a trifle better-an
attractive deal I'm 2h per cent discount
market. The Bank Of England was again
allowed TO take most OF the new gold Of
feTed In London. India being the only other
buyer Money in London was obtained at
the low figure Of IL per cent. In Berlin
discounts remained at "a per cent, but