The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-08-01
MARKET NOTES.

The mead Of one of, the leading COM
mission houses says: 1.-The market
SHOWS. good. conditions and I predict
an advance before long in the industrial
stocks"
Buying of Norfolk & Western Satur-
uay was in anticipation of the regular
haH-yearly dividend on the preferred
70 be declared Wednesday in anticipa-
tion OF the preliminary statement fol
the year, which will be issued at the
same time.
The market for copper has a strong
tendency with prospects of somewhat
higher figures than Is lie for lake be-
rore long, Spot cash lake, cannot be
ticle
Fears of flrmer money may check
market, 1850 ''-
PROSPERITY is keeping money in the
channels of trade and even drawing it
out of Wall street, but it is money
which will come back again in larger
volume than before it was withdrawn,
and when it does come will give an i'm
pulse to Wall street speculation which
is calculated to surprise those who
think the bull market is over.
will increase its capital stock from
$l,000,00O to $1,000, 900. New stock will
be offered stockholders at $50 per share.
The company has been paying eight
per cent dividends since 1894.
New York curb prices: Republic
Steel, 1919, ditto 64@65; Baking Pow
der, 9SQ9S IL; Rubber Goods, 90@31,
ditto S6@S7; Electric Vehicle. 9SGl00;
Air Pump, 2SQ25, preferred 67Q69;
Standard Oil, 462@465.
The Illinois Telephone & Telegraph
stockholders will meet Aug. IA to in
crease the capital stock to $5,000,000 and
to increase number of directors from
three to seven.
On the local curb Amalgamated was
90 1-2@97 IL: Elm River, II 1-2@12;
Mayfower, 607; Bay State Gas, 1906;
Fortuna, 55c. Gas & Coke, 21Q22, ditto
fives 7S0S0.
1t comes from New York sources that
a dividend of / IL per cent will be de-
clared on Southern Railway preferred
stock in October.
The statement is made that the gross
earnings of the Westinghouse Company
for the fiscal year ended last March
were s7,142,370, and the net earnings
81, 275,00O, These are the first figures OF
q semi official character that have
been given the public since last Novem-
Der, when the company fioated it's de-
benture bonds At that time it was
stated that the gross earnings for the
six months ended Sept, 80, 1898, We're
SO, 267, $40, and the net for the same
period 1859, 003. The surplus for the six
months was stated at $52653S.
The extent of these traffic increases
was well shown a few days since, by
reports of earnings of several great sys-
TENS for IL months. Northwestern
showed net increase OF. nearly 900
for the year; Burlington an increase of
s400, 000 G. e. 2. /. an increase of 1912,
900; Mimi & st. L. 100000. 1t was NO
more than natural that these figures
should have counteracted to great ex-
tent the disappointment over the bank
statement.
A Boston man who has recently re-
turned from the west and who looked
carefully into the Atchison, says that
in the, first five months of the fiscal
year that is, to Dec. /, the road will
earn at least per cent on it's preferred
stock. Conditions, he says, are ex-
ceedingly favorable, the road is increas-
ing its traffic and decreasing it's ex-
penses, its track and equipment show
the benefits Of the heavy expenditures
and from now on these benefits will be
reflected in earnings.
The Boston News Bureau says: The
American Bell Telephone Company, UP
to recent date, owned majority con-
troll Of the stock of 20 sub-eompanies
and a minority ownership in Is sub
companies. There have been num-
Der of consultations in the telephone
field Of late, and 1t is evident that the
policy of the American Bell Telephone
Company is to secure majority contro
of companies in which it at present
| owns only q minority interest. Five
| of the companies are possibly beyond
Bell control, as they are controlled by
the Erie Telephone Company, namely
| the Cleveland Southwestern, North
western, Wisconsin and Michigan COM
panies, The New England Company
has recently absorbed the Southern
Massachusetts, and the Vermont com
panies, thus removing two com,
panies, and is said to be after the PROV.
| idence and Southern New England, in
which the Bell has only a minority in
terest.