The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-02-14
In the Market Since
Friday.
ACTIVITY LIKELY,
Particularly in Railroad
Stocks for Rest of Week.

The brokers have been enjoying a
long holiday since Friday evening, but
they will start in today with a reason
able expectation that active speculation
will characterize the week
Notwithstanding the fact that the
brokerage houses were closed Saturday
and Monday, there was considerable
activity displayed on curb" Utah
sold at 46, an advance of points over
the official close on Friday. This was
due to the official confirmation of the
completion of the deal with Standard
Oil interests. 1t is rumored that the
purchase involves change of manage
ment. Boston and Bingham were
strongly in sympathy on the ground
that, as the properties are contiguous,
the Standard Oil may possibly absorb
all three.
Tips are going about the market that
Erie will sell at par shortly, and it is
believed in some quarters that the COM
Bell will be consolidation of telephone
companies.
The annual report of the National
Lead Company. covering the business
for the year 1898, gives the net income
for the year as $1,241, S39. With the sur
plus at the close of 1897 amounting to
81 ,09S, 1854, there was available for divi-
dends $2,335,6O3. OF this $1,092.2S4 was
distributed on the common and pre-
ferred stocks, leaving a surplus of ST.
| 143,269. The balance sheet estimates
the stock on hand at $4,s41,069 a de-
crease from the previous year of $685.,
003. The cash is put down at $4,941 ,059
inc. $3.50, 101, and accounts receivable
years business has been comparatively
poor, owing to the war, but the man
agement is looking forward confidently
to much better results for 1899.
| Comptroller Coler of New York says
that he expects to sell the new issue of
81 per cent bonds on per cent basis
but he decided not to issue them as 8
per cent bonds becausein times of tight
money such bonds always sell below
par which would give the city's credit
a bad reputation.
| On April there will be $780, 900 Ban
gor & Aroostook, Piscataquis division,
| first mortgage S per cent. gold bonds
placed on the market, due Jan. 1, 1913;
interest payable April 1 and Oct. L;
Guaranty Trust Company of New York,
| trustee. The bonds will be secured by
an absolute first mortgage on the line
| Of road extending from Oldtown to
Greenville, Me &c IL miles,, it's prop
erty and equipment, The proceeds will
| be used to pay matured bonds, for inn
provements and additions to the Ban
gor and Piscataquis division, and for
additional equipment which will come
| under the mortgage. They are offered
| at ITO Ia and accrued interest subject
| to sale and the right to advance the
price without notice.
Since the Bangor & Piscataquis was
| taken over by the Bangor & Aroos-
took, over 100000 has been spent in
lettering it, entirely independent of or
| binary maintenance. All these will pass
| under the mortgage. When the money
derived from this sale Of bonds has
been spent, every wooden trestle will
have disappeared; all wooden bridges
will have been replaced with steel; IL
to Is miles of heavy section steel, all
that is now needed, will have been
| added; $4,000 viii be available for bal
last and nearly or quite $50, 900 for new
equipment.
The complete financial statement Of
| the company for the six months end
ing Dec. 81, 1885, is! Gross earnings,
| $442, 432.14: expenses, SPA. 91716; net
earnings, $19Z5149s; fixed charges and
| taxes, $149, 97903; surplus after paying
fixed charges and taxes, 1885 IS; t1n-
provements paid for out Of EARNINGS,
| S10,102,45; net surplus, six months, $751;
1880
Investors are looking for a rise in
the railroad stocks shortly, and there is
| liable to be lively purchasing of Cen
! trail Pacific, and Quincy & Atchison,
as we'll as Northern Pacific common.
They are all tipped for a liberal ad-
vance.