The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-07-12
MARKET NOTES.


| Old-fashioned bulls remember big bull
markets when money was loaning a
fancy rates.
Not long ago some of the Fedora
Steel directors were figuring the profits
on billets and found the Federal Stee
| company making Sc per ton thereon
Last year the profit was 80 cents.
The New York Journal says: The
time honored GouldSage alliance has
| been broken. Russell Sage wild mo-
either confirm or deny the statement
The parting of Gould and Sage is 6
fact. 1t is so well known that Russell
Sage's comment upon it would add lit.
tie to the story.
The statement of L. & N. for the
year ending June 80, showing about {
per cent earned on the stock, is consid.
cred by the directors land very prop.
erly so considered) an excellent show
ing. e
The firm money market at 6 per cent
continued, causing interruption OF
plans of some traders who intended tc
work on long side for a rally. Cover
ing of shorts and some commission
house buying and slight rally during
| first hour.
Bankers are practically unanimous in
| opinion that there is enough money to
go around, although they believe that
good rates will rule for some time to
come.
The General Electric Company
transfer books will not be closed for
the $3.50 per share dividend on the
preferred, payable July 81, to stock
holders of record July 10
The Financial Chronicle computes in
dustrial capital authorization for the
first half of 1889 amounting to $3,2O1,-
$4,000, of which $2,02S 100000 is common
stock, $1,053,000, 900 preferred stock, and
$120,0000 600 bonds.
Of the copper market this week, it is
noted that inquiries are not so numer-
Gus as they have been of late, but there
is still considerable quiet hunting
around for lots that holders may have
to dispose of at prices a fraction under
the mining companies quotations, and
also very fair general demand. The
speculative branch of the London mar
ket responds feebly to existing condi-
lions on this side of the Atlantic, but
evidence is not wanting that the con-
sumption in Europe as well as in Amer
lea, continues remarkably large consid-
ering the high cost Of the metal, thus
imparting substantial strength to the
market that bear interests are unable
successfully to contend against at pre-
sent. Sellers here now generally are
quoting 1S1a cents for Lake Superior
ingot, 1712Q17A cents for electrolytic
bars, etc, and Tx @171a cents for cast
ing stock.
The first six months of 1899 showed
total listings Of securities at the New
York stock exchange of 1921. 504. FAC
bonds against 1887, 705, 500 in 1898, $217.-
935, 502 in 1897, $3.50, 355, 500 in 1896 and
$l99 l57, 900 in 1895. OF the 1899 total
$d dS 4S5,5OO replaced old issues, $1S,1OS,-
| 600 were old issues relisted and sec, Oil
240 were strictly new issues. The list
! ing of stocks aggregated S4S5, 239, 23C
against 1882, 72S, sos in 1898, 1885,, S01, 800 in
1884, 1922, 45S,SS5 in 1898, and SOS, O92, 97C
| in 1895. OF the 1899 total. 1857, 449. $40
represented old securities and $152, 790..
300 were new issues The industrial.
shares placed in the unlisted depart.
ment We're nearly three times those put
upon the regular list The former
amounted to $394;437, 500 and the latter
to about $1S7 100000.
Frederick G. Chandler has secured
control of large block of the stock Of
the Miami Mining & Milling Co. OF
1daho Springs, Col. This company Is
engaged i'll driving the we'll known Will
| cox tunnel, which is being run from
Idaho Springs through the mineral belt
! cutting many well known mines includ-
ing the Edgar and Stanley groups and
mas now reached a distance Of 2400 feet
The company also owns several mines
and holds thelease on the. Windsor Cas-
tie mine, which is shipping large guam
titles Of ore each month. 1t is the pur-
pose of the company to push the tun.
mel to an early completion, besides
working some Of the numerous veins
cut and patented, which had not beer
! located from the surface. The manage
ment OF the company is in the hands OF
| well known New York men, and the
stock which is now offered is for de-
velopment work in connection with the
tunnel and the various mines in contro
Of the company. Mr.. Chandler will be
| pleased to answer any questions and
furnish copy of prospectus to any one
| interested.