The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-08-17
: FINANCIAL AND COMMERCIAL.
MARKET NOTES.

Iowa Central declared IL per cent
on the preferred.
James Lewis & Son, Liverpool, in
their monthly report of Aug. 2 say:
Transactions in standard copper dur
ing the past month have been on a
much reduced scale, the total being 49,
600 tons. The present situation offers
little inducement to speculative buy
ers, but on any sign of weakness the
market is sustained by purchases on
American account. High conductivity
copper for electrical purposes is in ac-
tive demand and limited supply. Man
ufactured copper is in steady request,
as marine and locomotive engineers are
very busy, but hardly any new orders
for steamships are being given out, ow-
ing to the high cost of steel. For In
dia there is no inquiry.
Another great street railway combin-
alton is well under way, 1t involves all
the roads in Albany and Troy, N. Y.
According to excellent authority, the
consolidation of the Albany and Troy
systems will be followed by the alb
sorption of the Troy & New England
road and the taking in of railways in
Saratoga, Rensselaer,, Washington and
Warren counties and in Vermont,
which will give the consolidated COM
pany monopoly of street car traffic
from Albany to Lake George on one
side of the Hudson and from Albany
and Troy to Sand Lake, N. Y, and
Bennington, VT, on the other.
f. A. Heinze has bought a third in
terest in the Robert Emmett claim;
consideration not known. Amalgamat-
ed had agreed to purchase the interest
from Thomas Ford, but Ford conclud-
ed to sell HeinZe all surface rights
Other two-thirds owned by w. V. Law
ler and Amalgamated had option on
that, too.
There is no doubt that the metal
brokers of Great Britain are fighting
hard to break the copper market, for
it is believed by them that the success
of the plans of the Amalgamated Com
pany means that the occupation of the
metal brokers will be gone so far as
speculative operations in copper are
concerned. 1t is impossible to buy cop
per in the United States for specula-
ton. Consumption of copper is being
restricted in Great Britain, but there is
no check to the demand here The first
indication of slackening in the Ameri-
with impatience by the English metal
brokers and by the trade generally of
Great Britain.
One who claims to know says that
when the Nassau road was turned over
to the Brooklyn Rapid Transit Com
pany there We're about $3,0000 900 of ac-
cident claims against the road. Of
course some of these were for large
amounts and would very probably be
cut down very materially The same
party thought the Brooklyn Rapid
Transit would incur this year about
81, 600 claims on its own account
Stockholders of the Calumet & Hecla
Mining Company held their annual
meeting yesterday morning at 10
O'Clock in the office of the company at
IA Ashburton place, Boston, and elected
the following named directors: Alex
ander Agassiz of Newport, r. T. Fran
els L. Higginson of Boston, Mass
Francis w. Hunnewell of Wellesley.
Mass; Quincy A. Shaw, Jr.. of Bos-
ton, Mass; James N. Wright of De-
troit, Mich. Mr. Higginson takes the
place of the late John L. Gardner. At
a meeting of the directors, held imme-
diately after, the old board of officers
was reelected.
The name of D. w. Swift Of Worces-
ter, Mass, appears as a member of the
board of directors of the United States
Envelope Company. When the trust
was formed he apparently retired from
the business, but so much opposition
arose to the omission of his name ow-
ing to his experience and insight into
the business that it was decided that
his services were indispensable,
The directors Of the National Biscuit
Company declared, yesterday morning,
a dividend of IL per cent on the pre-
ferred stock, payable the 31st, also
quarterly dividend of l per cent on the
common, payable Oct 10. This is the
first dividend that has been declared on
the common stock and one of the first
to be declared on the common stock of
the newer industrials