Omaha daily bee., 1911-03-19
ADJUSTING COST OF LIVING
Big business Salo 70 Be CLAD 10 See
an Improvement
PROSPERITY 1, 400 ONE-sIDED
Marked Decline Ncportcd Ia Whole
sale Price of moditics--Stccl
Trust Operations ON Ina
mcmsc scale.

BY PRESTON e. ADAMS.
NEW NOltN, Marvu I'.-lopcc.Ut 10 Tue
Bee.l 1T really iooN7 az tnoHsn az, eost
OF living Is hcginuuuS ,o ADJUST itself 80
That the average, Clulcu may Uc uoie 10
spend quarter uccdstuhuuy witnout maN-
ing 1t tho subject ut a taunly conference
and praycrTul CONSIDER atun IL lS a good
thing Tor business tuat tuis Is so. Keceh,
prosperity has been tuu one-sIdeu anu
not Of a character Nbttu mBKvs IUr that
steady uistuuuuon ol commodities without
whicn business may nut .e sa.u TO pv NOR
maj and healthy.
N uecnnv lm th, wholesale prices OF
commodities, WITH out uav ur Two vNCCp-
lions. isnmarkcu. tuC surplus OF recent
crops UNCt uuuvdiatv a, uttuus tor con-
accumulation uuu the Cu~t Of uNWg ought
TO decline m correspondents way
whether the consumer mas yet tClt the tuit
benetit by reduction IN r,tad prices IN any
approciaUle decree rs qu,ouuuau.C. the
adjustment beius SLOW process tuross"
thG various unks OF uisilpuuuh SOME
articles OF food, however, nave undOubJ-
eddy fallen I'm price immensely, cegs be
ing, generally speaking, worth only cents G.,
apiece, where few months ago thcy
we're fetching cents. Butter cut,sc, flour.
the staples OF lie, are al cheaper tuOugu .
meat has not shown much OF real ue-
cline. According To Gbsous Index NUM-
bers, which record the hgn marx of ll9.t
IN April 1910 after AN ADVANCE ir0n ~
in 1903, which was only broken by the
liquidation following tue pane OF 1876.
Since then the decline has been slow but
continuous, and number now standing at
minerals ana miscellaneous
II Is probable that I'm certain lines there
viii be stu further declines. Wheat, for
instance, thanks to record breaking crops
/ in Russia, bids fair to make turtucr re-
ductions and With bouuutu and cheap
corn II rs not probable that even the meat
trust will be able to maintain the hign
| level admitting Il has that desire.
Operations of Steel Trust.
Figures recently prepared concerning the
! operations of the steel trust are beyond
! the Imagination OF the average man.
A recent analysis Of the corporations
! operations since April l. 1901, the date OF
organization, reveals the following:
Gross earnings. more than the
| present combined national
bank deposits of the country ,S56 2iL65
! Total net earnings. equal to
the total pa in capital Of
! the countrYs national banks).. L2O2,3O3t6'
! Allowed for depreciation and
eNtraord nary requirements O.. 2U592lSs3
Paid Tor interest on bonds. ...... 2JN, ~ go
Total preferred dividends paid
tequal to nearly a. per cent on
the preferred stock)........... 26H 4n9S3
Total common dividends paid
the common oc'3....."....... 12l51toOo
Appropriated or expended for
new construction and acNuisi-
;s6 100000 for the Gary plsnO'.. e13 g7o iSs
Wages paid. Tor nearly Sl50,OOJ-
! 900 more than total net earn
Tons.
Iron ore mined 1871. 55S. SSS
Coal mined Observation-Disclosures. - lSl 5A
Coke manufactures .............. llO5Oi2l
Cement. tbarrelsl ..............,., 2I,32I,9it
Limestone quar- led ............., 21,SD,2il
DO nearly cement ,,. i.ou"o 100000
Estimated number OF tons Of
iron ore in sight Uncluding
about 2,O00. 100000 N the Lake
superior regions, 30)00l00O tons
IN the Great North,Fn ore
lands and 7Jc,CC0CVD o. south
ern ore hbldingsl. ............... 100000 On
Railroad mileage operated. this
| compares faVoTably with some
of the country's important rail-
road systemsl ...,............... $500
} Cars owned, over...............s.. 10 Opl
sarEes .......,....,,,,'., i Is
New earnings per ton of steel
SOLD, nearly. 10
Problem for stock Exchange.
What will the stock exchange governors
do now that New York city has thrown
down the gauntlet TO them by awarding
the contract for engraving the new munich
pal bonds to a concern which has been
for years tabooed by the exchange? II
seems scarcely credible that the governors
will persist I'm their refusal to list these
bonds. No incident has of late excited
more gossip as to what goes on under cover
in the financial district Every one II
wondering just how the large profits made
by the American Bank Note company are
allocated. Who are the largest stockhold o.
ers? Are any Of them represented on the
management of the New York Stock eN-
changer The champions Of the exchange
contend that unconsciOnable confusion
would arise should every printing and en-
5 craving establishment In the United states
be permitted 10 turn out certificates ad
lib, and that the exchange is merely act
ing in the best interest OF everyone con
cerned when It exercises the strictest super
vision over the securities proffered for
listing.
No Cause for PessImism.
One of the foremost financlers in Amer
lea, in course of conversation recently,
made the following statement, which is
likely TO cause comment since II Is so very
, different from the pessimistc utterances
now prevalent
mo one OF responsibility cares to make
predictions, and l am glad | am not called
upon to do So II ! were to express my
I views, however they would not be peslmis-
2 tic. The greatest single factor In the whole
situation is the coming harvest. lf-and
this is a big II at this stage-if nature
does her duty satisfactorily. and II nothing
| calamitous now entirely Unforeseen occurs
. in anyspart of the world | think we should
- have a boom, perhaps / should rather
call II a boomlet, before the close OF the
, year. Conditions are tending In that direc-
1 ton. An adverse decision in the supreme
. court cases would be extremely awkward,
but would not permanently affect economic
conditions. j am not at all worried over
the extra session Of congress. The Union
20 Pacific merger ruling, which may come at
any time will be appealed no matter which
}. way IL goes. The railroad freight decisions
have not caused me TO modify my atti-
tude towards the future. ! do not care
/ TO venture opinion as to how securities
may nuctuate during the next month or
two, but looking farther ahead say four
I or five months. / feel that trade will be-
p, come very active and that security values
will improve"
Going or Coming.
train was reported forty minutes late
and after the time had elapsed a would be