The evening star and Newark advertiser. [volume] (Newark, N.J.) 1907-1908, 1907-08-09
BUSINESS AND FINANCE.
NEWS AND NOTES
FOR INVESTORS.


e. H. Hartman will take an extended
trip through the West within a few days.
He has been trying to get away for
several months.
At the annual meeting of the Wells.
Fargo Express Company the retiring
board Of directors were reelected and no
opposition TO the management developed
Nothing was done toward distributing the
large surplus among the stockholders. n
Hartman interests remain in control OF
the company.
officials Of the Delaware and Hudson
Company deny that a committee OIL the
board of directors Investigated the charges
OF graft made against the former man
tagement. They say the only Investigation
was that by the audit company wnlcn
examined the books and reported mat
everything was all right.
The United States leads the world in
the expectation OF agricultural Implements
Russia and Argentina, the two great wheat
producing countries, are the leading I'M
porters of this agricultural machinery.
The better class Of securities both rail-
roads and industrials. measured by earn
ing power and dividend paying. present
and prospective. look cheap. Measured py
the 1rmness in the none and Judiclal
and political uncertainties. the situation ID
not SO clear; therefore intrinsic values are
at present thrown aside in operations In
Wall street.
Usually when a market breaks as 1t did
this week" said an observant operator
last night. you will find the bargain hunt
ers out in force, but they have not as YET
put In an appearance. Maybe they are OUT
of the city. But IL they were they couia
reach brokerage houses by wire. ! DO NOT
like their absence. as it adds strength 10
the impression that the confidence OF the
investment classes has been shaken TO
such an extent that no matter how at
tractive prices OF stocks may seem, they
are unwilling to buy"
The New York Central and hudson
River Railroad Company has not earned
its dividend fer She six months ended June
80. The sum earned and the available for
the dividend after all charges are paid
for the half year was 81. 947, S61, while the sum
required for the semi-annual disbursement
to stockholders at 8 per cent. is $5.S5s,9OO
or 81, All, 5e2 more than was earned.
A special from New Orleans says: THE
market shows no change, and
call loans are at to I per cent. There is
no pressure and, while the crop demand
shows a slight widening, there is no diff-
Guilty In easily meeting requirements.
has been little doing in the way or
exchange. owing to light spot cot
ton movement. On the other hand there
has been a good demand in respect of
credits on coffee and other imports"
The statement frequently made that the
Maryland Railroad was TO be
sold to the Baltimore and Ohio. Pennsyl-
venia or the Reading was as usual in such
a case denied by officials of the Western
Maryland. 1t was said that no plan had
been under consideration and that no
tiations looking to a sale were going on.
General Biscuit Company is the title
of the new organization which will take
in about one hundred of the leading inde-
cracker bakers of the country.
The company will have an authorized capt.
tai stock of. $4,000, 0O0. but only part Of
that capital will be issued for the present.
Crop reports show that the condition
of corn in fifteen States has risen four
points during the month of August thus
far. A wheat crop of not less tnan 6l5, OO0,-
900 bushels In this area is within. the pos
sibilities.
Receivers for the Milliken Brothers sent
out notice yesterday that they will con-
tinue to fill orders In the structural and
ornamental departments of their steel busi-
ness.
On the theory that Shelters was selling
too high for an 5 per cent. industrial. the
bears In Wall street broke this issue below
parythe lowest price in three years. Smelt-
ers sold as high as ia last year, when it
only paid 7 per cent.
Our South American trade in 1867 in
creased IL per cent. over the previous year,
and exceeded 1904-5 by more than is per
cent. The value of this trade last year
was s242, 322, I'll, compared with s215, $50, 657
In the preceding year.
Rate clerks Of Eastern railroads will
meet in New York next Tuesday to make
"a general revision of passenger fares on the
basis of two cents a mile, both interstate
and interstate.
1t is said that while the volume of
traffic moving is still quite heavy for this
season of the year in comparison with the
same period last year, there is a marked
decrease In the number of loaded cars. -
+. T. A. Mcintyre & Co. say: "That we
have now come to the conclusion 1t Is no
longer prudent to follow the bear side. and
suggest further short sales. as has been our
position in the market for some time"
There has been no interruption to the
service on private stock exchange wires
between New York and the West, and no
interruption Is expected unless a general
strike is ordered.
On the New York curb market the
Standard Oil stock, after opening up 3
points from last nights closing, broke II
points, from 4S3 to 466. being the lowest
price reached in many years. Such a
situation at any previous time is not re-
called by any of the present dealers on
the curb.
Z As 1t has. been impossible to secure a
quorum, no meeting of the directors of the
Southern Railway Company will be held
today. This is the day for the regular
monthly meeting of the board.
THE LONDON MARKET.
LONDON. Aug. 9.-American securities
opened with a better tone today. First
prices showed irregular changes, ranging
from y below to y above yesterdays New
York closing. Consols sold at 81 n-16, a
new low record.