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


ter6ay The following named Director
were Reelected: John stanton, JOSEPH
E. Gay, John r. Stanton, ]. w. Hard
| ley, Samuel L, Smith of Michigan. Be
tween 10000 and $4,000 shares were rep
resented
Houghton, Mich, dispatch says tn,
Tamarack has struck the richest COP.
per found for years, if not the riches
ever found in the mine, in the 18TH
and 18th levels, south of No. NORTH
Tamahack shaft.
There was slight squirt in the trad
ing IN Arcadian at the opening yes
terday morning, but the rest of the
market was dull and almost feature
less.
The gas and electric plant at Lex
lngton was sold Saturday in foreclosure
Tor $4,000, just the face value of the
bondhoiders' claim 1t was bid in for
them. The property was returned last
January as worth over 100000 and had
on 1t some $4,000 bonds, $4,000 debts
and $4,000 stock The returns show
that it earned, net last year. $4,000, but
the interest was defaulted in June The
gas plant is in bad shape We are
accustomed to think that Massachusetts
Corporations, s.have som ething behind
IN assets to represent the value of the
stock. but it does not always prove so.
The output Of the Dominion Coal Co.
the last week of July was $4,000 tons,
the largest output on record
Prime reports from Chicago: 'Tha
spring wheat crop is Fastening to ma
turity very rapidly. More or less of 1t
Is rlpentng prematurely. Prospect that
the crop will be reduced In quantity
and quality from early estimates. The
nights the present week have been cool
Tor corn. Corn in August ought to grow
night and days TO get out of the way
of an early frost Oats have again been
injured the present week while they
were in shock by rains"
The loaning rates indicate an increase
in the local short interest. Boston had
selling orders in Sugar at the opening.
The increase of $500 tons in the Tor
eign visible supply of copper in the lat
ter part of July, is explained in Morri-
con, Kekewich & Co. s letter to Corey,
Milliken & Co, 1t says: Monthly statis-
ties promise to show an increase owing
to the arrival of two large cargoes sold,
but not yet delivered. Consumers con
tinue their hand-to-mouth policy, but
some large purchases have been made
for immediate delivery. Stocks lying
at the three Birmingham railway de-
pots are returned as one hundred tons
against two thousand tons last year.
SoHSuHleIs SIochS are depicted IN the
same proportion. The war office recent
ly purchased four hundred tons
The quarterly dividends paid by the
Fall River mills as compiled by G. M.
Haffards & Co., show a material in
crease over the two preceding quar-
ters of the year. On capital of $21, $751;
600, the sum of $3o9, 232.50, or LAB per
cent, was distributed. During the whole
of last year the percentage amounted
to but 2.22. OF the thirty-eight corpora
tons listed, there were but six that did
not pay, but the Pocasset will pay in
September, unless accidents intervene,
and the Slade mills have not been fully
reorganized on sound basis yet The
new Arkwright mills have not begun
the payment Of dividends, but the earn
ings last quarter were not far from $780,,
900.
The Merchants mills will not resume
dividend payments until they have eX-
pended considerable money on improve
ments and changes that are contempla-
ted. The money earning capacity Of this
corporation is well understood among
the mill men. The Metacomet and Fall
River mills are old concerns, but they
are gradually being placed in first elass
financial condition. just as they were
placed In good operating condition some
time ago. The showing on the whole
is satisfactory.