Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-10-04
BULLS AND BEARS

NEW YORK. October 4.-Prices on the
stock market reached new high average
yesterday. The average OF twenty active
railroad shares. of which record has been
kept for years by Wall street news
agency. was raised to 1922. The last pre-
vious high point was 1872 80 on September
Y. and the last before that was 1910 on
August %. which was about three points
above the record level in September. 1902.
The average OF twelve active industrlals
reached $3.50 yesterday. the record average
being $3.50, made on August %.
~
There were 7.431 failures. involving $50
9SO,T45. reported to Bradstreet's for the nine
months ending September %. This is a de-
crease from 100. while liabilities show a de-
crease of 21.8 per cent. Compared with
ISoS there Is an Increase shown of IL per
cent In the number Of failures and of IL
per cent In the liabilities. Compared with
the years 1899 and 1000. which were periods
or small failures, this years casualties
SHOW gains of about 5 per cent, and as re-
CARDS liabilities the present year shows a
81 per cent larger total than In the record
year 1899.
The percentage of assets to liabilities In
I9oS Is 52.G as against 81 last year, 40 in
1908. Al In 1900, 1901 and 1902 and A in 1890
Inc returns by quarters show that in the
NNuhe Si VI Tic pItSeHl JedT failures
fell OFF ~ per cent in number in the same
period OF 1904. whereas in the second quar-
Ter the decrease was 1,5 per cent, and the
nrst quarter showed an actual increase of
20 per cent. Liabilities in the third quarter
fell on 1O7 per cent from the third quarter
or l9Oi. as against decrease of IA per cent
In the second quarter and decrease of 40
per cent IN the first quarter from the first
X
Authoritative trade reports say that the
tendency of the pig iron market continues
toward higher prices, with demand unprece-
dented, the largest interest far behind, en-
contract shipments and most of the MAX
ers booked ahead for at least two or three
months The makers in the east yesterday
placed orders for $4,000 tons of the latter
In addition to the $4,000 tons ordered dur
ing the last two weeks and are still in
tn. market for a considerable tonnage In
quir1es from other consumers are large,
run ming from 10000 to 10000, ready for de-
livery in the next six months.
The activity In the steel market is also
urabated. and consumers were anxious to
pace contracts yesterday, and large
amount of business is looked for. Inquiries
for structural steel, especially from rail-
roads, continues large, but the building
trade also shows good demand. Further
contracts for standard steel rails are re-
ported having been made for about 5000
tons
The Northern Pacific ordered 60 600 tons.
tile SthCdSO anu northwestern ZU,UUO tons
and other roads about $4,000 tons, while the
New England roads and the Vanderbilt
roads are in the market for further ton
mage.
k~k
Sales of refined copper TO consumers were
reported as having been made today at IL
cents pound.
n X
In advance of the Great Northern's an
nual meeting next week rumors are circu-
lating to the effect that some announce
ment may be made then of Forthcoming
extra distribution to the stockholders These
stories are based on the supposition that
the Great Northern's ore lands are figured
as the basis for such distribution. One
story has 1t that the ore lands will be
capitalized and turned over to the steel
corporation, part of the consideration being
a traffic agreement with the Hill roads
Other varieties of the rumor provide for
the lease or sale of the ore lands of the
steel corporation without capitalizing them
X II
Mr.. Uchida, consul general of Japan, re-
ceived this morning the following cable
message from Toxic:
"The money market being easy, the de-
partment of finance today issued treasury
bills to the amount of 30,0O0,O0o yen, about
$4,000, 600 They were all taken by the
Bank of Japan" Treasury bills are only
short-term notes, to be taken up when the
taxes have been collected. They are regu-
larly resorted to in one form or another the
world over. New York city sells revenue
bonds against prOspectfye fay receints