Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1911-04-23
new YORK STOCKS AND BONDS
Dizziness that Prevailed During Early
April Has About Vanished.
INDUSTRIAL WORLD Grows BUSY
IdIs Money PiIing Up and SHARP
Competition 60 Find Employment
for Il starts In the Finan-
cIaI Centers.

WTWVWTTNW
the stock market during the early part OF
April vanished before improved trade CON
ditions early in the week and more activ-
liy In trading was manifested toward the
change was expressed in a sudden rise In
daily transactions Monday of 1900 shai IS
to nearly 6o0?.OoO on Tuesday. Sales today
we're 2l212 which exceeds the Saturday
record Of some weeks past.
The sharp drop in prices after the rise
OF Tuesday induced some liquidation on the
part OF tired holders, but the volume was
not as large as might naturally have been
expected after the prolonged and weary
dullness. The liquidation and the support
ing orders that came into the market. to-
gether with the covering OF short con-
tracts gave brokers a little more business
which the, certainly needed.
In the Industrial world the steel and cop
per trade, while not active. has been that
OF steady business season Producers
report report, more inquiry and larger sales Of
privilege for the last few days
Bis Deal in Copper.
A sale of 100000 pounds of copper at
slightly above l2hc a pound for delivery
week
1t is stated officially that the United
States Steel corporation is operating about
~ per cent Of its capacity at the present
time which means that about three fur
naees have been banked. The corporation
Is shipping steel at the rate OF between
SOO0,OO0 and 100000 tons n year which
compares with actual shipments Of not
much over io,5OoOoO tons in 1910 About a
weeks supply of pig iron Is in stock
In February and March the merchant
furnaces in western Pennsylvania and
eastern Ohio reduced their stocks OF iron.
The steel corporation is receiving new
% business GnI at the rate OF between 5000 and
5000 tons day.
One Of the leading industries Of this sea
son Is the movement Of citrus fruits and
vegetables. The shipments from the West
tndles and Central American countries
have been large mad that from California
mas shown an everage good year
Over 1000 carloads of oranges have thus
tar this season been sent eastward from
California The coming year will. how
cause 100000 new orange trees will colhe
INTO bearing next season, together with
SOo'0 000 lemon trees. making q total Of TO-,
In the southern California fruit crop.
Need In Business World.
What is really needed in the business
Norio Is the public participation in the
stock exchange dealings and is the surest
road to the revival OF international trade
ana industrial activity, which would give
70 the railroads an increased volume OF bust
ness sufficlent to induce the taking back
OF OF men lald OFF this year, thus enlarRing
me number OF active consumers and also
TO resume work of Improvement and con-
structions abandoned after the late inter-
STATE commerce decision. This would In
spire public confidence in the maintenance
OF dividends and it's stimulating Influence
can hardly be overestimated II is q true
axiom that when the railroads are prosper
GUS the country is prosperous. For that
reason everybody will now hail a return
OF prosperity to the transportation interests
as a great boon
This will come with time hut mn.
fortunately is is not in sight at the moment
as slack trade is still evident
Military incidents are frequently an ex-
cellent barometer of business and during
the current week more than at anv
previous time this season, these, reflect a
low eob OF trade and industry. Idle money
country, east and west, and there is sbsrp
competition to find employment for It out.
s slde OF regular business channels. where
the demand Is Tar below normal
Chicago has been loaning six months
money heTe at : per cent and buying long
g gte commercial paper at 81 per cent
Ihese are unusually cheap rates for west
ern capital at any time, but particularly
at this season. y
Increased Bond Reserve.
The stock market, which reIapsed into
guinness In the early part of the second
hour today, after a little rally suffered a
recurrence OF weakness a little before the
close; and activity increased on the decline
day Hauihs Oh the
The rally which set in soor altar Il,
CLOCK was very favorable and when prices
again gave way. few Of the traders were
ready. They adhered to their position. The
market was weak in the first hour. the
weakness being more pronounced in steel
Than elsewhere. Pressure was largely con
centrated on that stock, while elsewhere
there was little support Selling OF steal
seemed TO come from many sources and
traders thought some of II was of good
character Brokers reported difficulty in
finding bids for some of the Inacttva
specialties. The market everywhere was wa
thin. wac
expectation was fulfilled by a large in
crease in surplus bank reserves rrba
~ act ~ a. weekend bank statement reported
s4Vo,OV9 gain In cash, figure much above
20 me e.. e ~ Loans were expanded only
$4,000. This lis the largest increase since
me second week Of January; II brings the
totaI surplus reserve to $39SOO.OOO three
times as large as a year ago his HIaaL
nearly -FOUR times as great as in 1903 and
never exceeded in twelve years outside
Number Of sales ana leading quotations
on stocks were as follows: