The Washington times., 1907-03-10

The untitled business on the books OF
the United States Steel Corporation is
now approximately $4,000 tens.
There is a big demand in London fCr
the rev 3 per cent japanese conversion
loan and all OF the issuing banks report
large inquiries. The new issue
already. commands : premium.
Governor Deneen. OF Illinois. says the
Illinois Contra, owes his State S.3I5. 600,
and gives out rather a strong hint that
he proposes to collect the bill. IL he can.
The Maryland State Bankers Associa-
ton has decided to hold its annual con-
vention at the jamestown Exposition.
The date has not yet been definitely
fixed, although II is stated il Will prob
ably be June IS to p.
Il Is cheering to learn that n drop OF
twenty-four points or so in LGckawanna
is not one OF the things calculated to
, bring about a panic This drop was
between two sales, but It has not tend
ed to greatly agitate the general market.
Weak accounts are being eliminated in
commission houses I'm the most drastic
and summary manner. Brokers feel
that as a matter OF self-preservation
they cannot afford 20 let a customer
o fan behind. even in ,he slightest de-
gree.
The course of the market Of late has
demonstrated that this has been a bad
:. time for political speculators- those who
bought on tips from Albany and Wasn-
badly burned. and incidentally their
bank accounts have suffered greatly.
committee OF Philadelphia bankers
wants the President to make an in
vestigation. through the Interstate
Commerce Commission. Of course. OF
the reorganization methods James J.
. Hill and j. p. Morgan adopted toward
Northern Pacific. II is charged that
some interesting revelations might be
made.
The extent to which the railroad and
industrial corporations of the United
States have resorted thus far this year
TO the note expedient in financing their
requirements is indicated by the figure
Si9.552oOo. This includes the two is
sues of thUec-year > per cent notes an
nounced on Friday by Louisville AID
Nashville and Atlantic Coast Line.
At the present rate of production
O.5O0.000 pounds monthly the Tamarack
Mining Company is earning at
the rate OF $50 per snare per annum on
Its 5000 shares.
This is figured by allowing 15-cent
cost and selling price OF . cents.
Every i-cent huctuation in the nrice Of
copper affects Tamarack earnings 10 the
extent of 50 per share.
The retirement Of 100000 national
bank circulation under the AIdrich act
during March Will return to the Treas
ury more money than the excess of ex-
penditures under the deficiency appro-
priauon over the revenues for the
month The retirement of an eonai
amount of circulation during April is
possible. and there may. and probably,
Will be- surplus in April Of reserves
over expenditures.
These are troublous times for railroad
managers IN more ways than one 1t is
said the attorney general OF Illinois is
laying plans TO attack the validity of
Sc, 900 OF Alton railway bonds issued
by the reorganizers of that road The
Interstate Commerce Commission has
been asked for a complete transcript
OF tho testimony taken at the New York
hearing.
Charles G. Gates & Co. SAYS: The
week ends with liquidation still under
way, and the bearish feeling still exist
ing. We do not know the cause for the
recent urgent selling. but there must. OF
course, be some reason. but whatever II
is, II would seem to be pretty well dis
counted. and we are in favor Of further
Eperauons on the short side from this |
IeVel-. IL The market is weak Monday |
ig InoIning we should think IL would do To |
for snarp rally, at least.