The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-12-03
FINANCIAL NOTES.

Baltimore & Ohio dividend more than
the stipulated per cent. Wall street is
always looking for a chance to tinker.
The instrument exhibit of the Bell
Telephone 'ompaly for the month end
ing Nov. 20 shows shipments of 69.117
instruments, the largest for any one
month on record, with 1892 returned,
against 5O,961 shipped the previous
month and 1904 returned. The net out
put of the other II months is 25.452
against 1884 the previous year. The
company had out on rental Nov, 20 a.
total of 1,549,93S instruments.
President Clark says the Centennial
Eureka company is netting $1,000 per
day under its contract high grade
ore. ~ -.,...-....... -
Gossip is talking Federal Steel com
mon for 70 now and larger figures later.
1t is understood that efforts will be
made this year in the legislature to
prevent the operation of any more
schemes similar to the Franklin Syndi-
cate character.
The net earnings of the Boston Rub
Der Shoe company, one of the control
led companies of the United States rub
Der combine, since the beginning of its
hscal year, were 81, 300, 900 ahead of last
year. Other sub-companies made cor
The interest and dividend disburse-
ments in New York for the month of
December will, it is estimated, aggre-
gate $3L574,S72 as against $36 204. S04 last
year; including government bonds and
other payments, the grand total will
reach $4,000, 900, nearly $4,000, 900 over
the figures of last year.
Henry Clews & Co. say: 1.-THE stock
market is still chiefly dominated by
DTOsa tsa1-r IL
show more favorable tendency the
upward movement in securities is likely
to meet with considerable difficulty if
carried out upon any considerable scale.
Apart from this factor the outlook is
especially favorable, as has been re-
peatedly explained in our previous ad-
vices. The chief concern, therefore, is
the course of the money market until
after January /. The advance in the
Bank of England rate, of course, means
that no relief can be expected in that
quarter in the form of gold imports; es-
peeially While the Transvaal war shows
no sign Of an approaching end. Consid-
cradle hope has been entertained that
the return of currency from the interior
would bring the supply of loanable
funds in New York nearer to normal
conditions but It is not safe to place
too much reliance on these anticipa-
tons. Funds are now returning but less
freely than expected, the great activity
of trade and industry everywhere re-
tarding the movement. Meanwhile, the
treasury receipts continue to exceed ex-
penditures; and had it not been for
Secretary Cages offer to buy bonds
some sharp manipulation of money
rates would have been possible. The
secretary has shown his wisdom in ex-
tending the time for offers of bonds
until Dec. %; that being the only avail
able method of offsetting the effects of
| cumbersome treasury operations.
1t is announced that at a recent meet
ing of the directors of the National
City Bank of New York it was voted
to recommend to the shareholders an
increase of the capital stock from
$1,OOO,OO1 to $10OOOO06.
This increase, in the judgment of the
directors, is advisable for a number
| of reasons, most important of which
is the restriction of the national bank
ing act by which every national bank
is prohibited from making a direct
| loan or more than one-tenth of its cap
| ital stock to any firm, person or cor
poratlon.
Have you noticed the way Atchison is
| piling up net earnings? A year or more
ago, we were wont to find fault with
! the management for maintaining SO
way
| from 70 to so p. c. We see the wisdom
| Of this course now. Thousands of dol
! lars have been put into the betterment
| of the property until today the road
| is being operated around IS p. c. OF
| the gross earnings, and gross increases
in earnings generally md their way
into the net.
Atchison preferred is today earning
more than p. C.. and in so doing, the
! price of the stock around 60 is not un-
! duly high; in fact in our opinion it is
not hign enough. There is every indi-
! cation that next year will be as pros
! porous for the railroads as this year
| has been. We advise the purchase OF
Atchison preferred.-(Corey, Milliken &
| Co.
| Watson & Gibson-People are feeling
| their way carefully, doing no plungine
or kiting. and a generally strong un-
dertone characterizes the market as a
| whole.
New York curb prices: American BIZ
| cycle 20 bid, preferred 5S@63; Amalga-
mated Copper Sc ga bid American
Wooden 25@25 1-2 preferred S0@81; Bay
State Gas 1 3-401 rs; National Tube
AZ 124iS. preferred 96@97; STANDARD
Oil 461@463
Boston curb prices: New England Gas
& Coke % 1926, IS II 1-2@S0; Anal
gamated Copper S6@S6 IL; Bay State
! Gas Csc 9s1.