Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1911-01-29
new YORK STOCKS And BONDS
Trade Outlook Brighter Than at Any
Time During Present Month.
MARKET FOR AMERICAN COTTON
Large order for Rails Placed by New
York Central Gives strength 20
the Products OF the stec:
Mills.

NEW YORK. Jan &.-(Special Tele-
aspect this week than has been manifested
at any time since the beginning OF the
year. Not only has there been a revival
Of business in the trade centers, but i'm
financial circles, where healthy business
condition has been shown by the eager
purchases Of stocks and bonds.
The most in pCrtant financial event of
the week was the successful floating Of
the New York City bonds This over
Swallowed the movements in the stock mar
ulative liquidation. followed by some re-
covery. The Importance OF the city bond
sale lies In the fact that II has made SEN
ument In favor Of railroad issues now in
process Of negotiation. both here and
abroad. and a favorable outcome is ex-
pected in several cases next week.
Middle West In Evidence.
or the constructive forces mentioned last
week as likely to play an important part
in the rehabilitation OF the country, the
buying capacity Of the south and middle
west and the unusually strong position of
the local financial institutions were strik-
ingly in evidence this week.
The south still has the incentive to trade
Improvement in continued exports Of cot
ton at high prices This week there has
been some lull in the volume OF orders
placed for goods with English spinners,
but this is due mainly to the fact that the
mills are booked largely ahead. The over
flow OF the demand continues to spread
to the continent and this week there were
purchases at one point in Alabama Of 400
bales of cotton for French spinners and
on another day 1890 bales were cleared
for their account at Texas port. While
the south Is experiencing the benefit Of
the foreign absorption of its great staple,
the middle west Is profiting by the exports
of corn 1t is estimated that corn ship
ments for some weeks past have furnished
an average weekly volume Of 100000 in
exchange.
Steel Trade Improves.
The placing Of the New York Central
order for 10000 tons of rails an advance
M nTnn Nurh hatf
demand for structural steel caused an i'm
proved sentiment in the steel trade, but
ceived a capacity sufficient to place the
steel mills much, II any, above the pro-
ducuon Of so per cent capacity. In a num-
Der of miscellaneous branches of trade
Improvement is being shown, but business
has not yet reached those broad lines that
mean general activity.
One Of the hopeful outlooks for the i'm
mediate future in the business world is
the growing trade with South American
countries. New steamship lines are being
opened up and much OF the business that
has been going to Great Britain and Ger
many will now come to America.
Union Pacific Slightly OFF.
The tendency on the stock market today
was generally to lower levels. the upward
trend or prices OF yesterday seeming to
have lost their force over night. The re-
ceSsionS, however, were confined to small
fractions with Union Pacific off " ana
steel showing the same loss. Pool activities
continued in many OF the lower priced
issues, and were reflected in some sharp
advances I'm that group.
Nearly all the speculative interest was
concentrated in United State Steel COM
mon. Brokers working for the most inn
portant banking interests on the street
were buyers of large blocks Of that stock
after its recession to 7Sh and on these pur-
chases the price moved above 70 and es-
tablished new high record for this move
ment.
Amalgamated copper, which was weak
early, recovered a small part of the loss II
then sustained, and smelters also recovered
| its early loss.
The closing was more or less irregular
with gains and losses divided.
Rumors of negotiations with a view Ia
| placing a block Of Southern Pacific bonds
| In Paris were confirmed today. These nego.
tiations have been carried on for two weeks
or more, and with every promise of being
| brought to successful conclusion. 1t Is
probable that the company will dispose
of SO,OOO,O00 of bonds. II is understood
| that the bonds win be a first mortgage
on the Mexican extension.
| Number of sales and leading quotations
/ on stocks were as follows.