The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-12-20
Financial Notes

The anthracite coal trade presents NJ
new feature of interest. Coal Is still
going to consumers to the extent of the
ability of transportation but the de-
mand is less as the open season has en-
abled buyers to get nearly all they
want at present prices. The conditions
of the trade are practically unchanged
and with everything in a good position,
there is much satisfaction among those
who are thus successfully closing the
year of the greatest actual anthracite
output and are preparing for next sea-
son under better auspices than for
many years.-Philadelphia Ledger.
The cooling committee" of the Uni
ted States Mining Company has al
ready secured practical control of $780,
900 shares of the stock held by local
brokers. Holders of the remaining g.,
900 shares are now being formally re-
quested to deposit the same with the
Old Colony Trust Company. The
banks are all disposed to cooperate in
the settlement of the company's pres
ent trouble.
A shrinkage of $160,0O0000 in the val
lie of q of the most active local Sc
curities and of 1920, SS5, 1872 in that of 81
industrial and traction shares on the
New York list since the highest prices
of last spring, tells the story Of the
recent slump in an unpleasantly en-
phatic manner
1t is a good thing to bear in mind
that even while the markets are de-
pressed and financial difficulty is be-
ing experienced by some of the United
States Oil group of properties, those
same properties possess just as much
intrinsic value as ever, and that when
the present trouble has blown over. as
1t surely will very soon, this worth is
bound 10 assert itself in the market.
w. H. Coolidge Of Boston is a pref
ty nervy and solid financier, but he
never made an utterance worthy of
more admiration than this: II do not
know how l am coming out, but am
ready 20 sacrifice everything l have to
protect those who are in the United
States Mining Company and other
properties with which 1 am connected.
If everybody works together, think
we will be able to arrange everything
satisfao torily."
Treasury officials believe that Eng
land win make efforts to draw the gold
it so much needs from New York, and
that it probably will pay a good pre-
MUM.
During Mondays panic the decline
in New York stock values reached near
ly $S0,000,000, representing shrinkage in
market value by applying losses to out
standing number of shares
There have been no failures in Chica-
go as o result of the panic in London
and New York. Banks are, however,
extremely conservative.
The World enumerates 81 trusts or in
dustrial stocks which have fallen $421,
100000 from their highest market val
uation this year.
Depew says this panic is a ghost
scare. Russell Sage is cheerful and
talks hopeful especially of the gas war
in Manhattan.
One Of the brokers most actively in
terested in U. S. Mining says: Our
house has shrunk its liabilities in Bos-
ton from $1,S00,0O0 to 100000, and
though We have been talked about, we
feel very comfortable over the situation,
although very uncomfortable over the
loss of business which we could have
secured had we not tied up our capi-
tai in U. S. M. Banks are acting hand
somely. When one of them recently
called UP upon a loan, we said, We
will pay all our loans except the y. S.
Mining, if you will simply loan US
$3.50 per share upon this. as we do
not think it is honorable to. take q. S.
NJ out Of any bank, when all the
creditors have practically pooled their
issues at this price. We are not strong
enough to carry all our u. S. M. in our
boxes at the present time, though we
may do so in due season
THE bank was perfectly willing to
accede to this request and we paid all
our loans and made new loan on U.
S. M. at $12.50 per share"