The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-09-16
MARKET NOTES.

Machlnefy Company have declared a
regular quarterly dividend of IL per
cent on the preferred and 2 per cent
dividend on the common stock, payable
Oct. IA to stock of record Sept. 10.
Books close Sept. 10, open Oct. 2.
Private advices received from Mexico
say that Mexican Central Company is
suffering from lack of competent ma
chinists and shop men and that it has
been necessary to send agents to the
United States to get the desired help.
Road is now getting big traffic that
is steadily growing. Its present equip
ment is being taxed to its utmost The
country as a whole has had one of the
best crop years, this year, for over a
decade
The feature of the local market was
the weakness in Arcadian. The stock
was pressed for sale at 81.
Two weeks ago today Arcadian was
selling at a. decline in II days of %
points, or a shrinkage in market value
| of So, SOC, 900.
In the outside market, Centennial
| Eureka was quoted 1896, Gas & Coke
| 3O1sQS2, IS S3@S4, Montana c. & c. sales
at liz.
London, go = American market
opened strong, but has declined sharp
ly since on local and New York selling.
st. Paul dividend was a disappoint-
ment.
Charles Schumacher, Of C. Schuma-
cher & Co., says: 81 look for gold i'm
! ports, but not before three weeks. The
imports will be with sterling exchange
about cts. lower than now-that is to
say, at about S4.S4 as against yester-
days rate SASSY to $4S6. I estimate
the coming imports at around $40, 000,-
900 or enough to bridge us over, and
with these imports I look for a big bull
market"
New York gossip says that the recent
advance in Pullman was due to a re-
port that the company would declare
an extra dividend soon, out of the pro-
ceeds of the property to be sold A
careful estimate indicates that surplus
earnings and the proceeds of sales will
give the company something like forty
per cent on its stock in the next five
or six years in addition to the six per
cent dividends. If this expectation is
realized, Pullman stock will pay some
thing like twelve per cent to fourteen
per cent on par during that time, which
would make it a very good investment
at the present price
Edward Sweet G. Co. cannot see how
the money situation is materially
helped by the action of the treasury
| department, and believe that the fall in
rates yesterday was purely of a senti-
| mental character as showing that the
government is watching the situation
carefully and stands ready to render
| more effective aid should necessity
| arise. The banks all have lost heavily
to the sub treasury this week, and on
the other hand the liquidation which
has been going on must mean a large
contraction in loans which may or may
not offset this loss. Should the bank
statement Saturday show an improved
condition of the local institutions the
effect would be extremely good, but I'M
til this is published they look for an ir-
regular market with money active and
rates comparatively high
William Bailey, who represents Bos-
ton capital in several large mines in the
west, has returned from Cochiti. n. NJ.
and says that the big mine Of that
name owned in Boston at once will
double the capacity of the reduction
plant to handle the immense strike of
medium grade ore recently opened IN
in the sixth level. The vein is said to
average thirty feet wide, and will make
the Cochiti mine one of the greatest
bonanzas in the west if the mineral
holds up to present assay values The
Cochiti mine is pointed out as good ex-
ample of property that pays on large
investment, but failed to make returns
to individual stockholders
No. 5 shaft of Tamarack is now 5000
feet in depth. Has been sinking lust
four years, and will require nearly Two
years more to bottom. No copper of
Importance has been found in cutting
the numerous amygdaloid and conglom-
crate lodes through which the shaft has
already cut. Quincy has begun nefN
4
daticn in two weeks for new combina
ton shaft and rock house at No. 7
shaft. All new buildings of Quincy win
be enclosed before severe weather and
machinery can be installed at leisure
Quincy's expenditures for improve
ments this year will approximate half
million dollars.
Watson d Gibson on Mexican Central
THESE shares were again in demand
ana each day attract the attention of n
new constituency. Some one of our
transcontinental lines should be anxious
to buy the control of the MEXICAN car
tral road, and thereby gain an imnort-
ant outlet on the Gulf of Mexico az
Iamplco reaching the center of oIr
nelShboflng republic at the civ AZ
Mexico, going beyond that to The ricb
mining districts-almost to the Paoife
ocean. For some years there was No
opJect IN buying the control of This
property because it was not self-sIIn-
porting, and because the imperialjstic
idea had not seized the minds of ON,
people, and we We're content to ren,air
Wlthln our own borders. But Mexico
is taxing on new life. and people hers
are taking on new interest in its inn
proVements and developments and
there is no method whereby the contrai
OF this important property-which ie ~
great trunk line of Mexico-couid he
duplicated for the amount of None,
It would cost to buy the controIliney irs
terest at anywhere near present nice az
me worcester clearing house statar
ment yesterday, as compared With 49,
corresponding CORE day in 1898, was as f flie