The evening star and Newark advertiser. [volume] (Newark, N.J.) 1907-1908, 1907-12-26

Figures compiled by the Southern ia
eifc Railroad show the extraordinary
character of California fruit shipments
and the means taken to make the ship
ping service safe and. expeditions. The
season JUS ending is a banner year for
green fruit shipped East from California.
Outlines of the working agreement be-
tween the Great Northern and Great Cen
trail railways of England have been re-
eeived. The principal points are the pool
ing of receipts and the division of surplus
profits in the proportions of 81 per cent.
to the Great Northern and AZ per cent. to
the Great Central. The circulars sent by
the two companies are in identical terms.
Reports from twenty-nine State banks in
New York. pursuant to the call of the
State Bank Superintendent for a statement
of their condition on December 10, have
been received thus far. Nearly all reflect
the readjustment of loans and deposits
made necessary by the recent financial
.stringency, but the stringency in cash re-
serves is smaller than might have been
expected. 1t is a noteworthy fact that of
the twenty-nine banks reporting. only one
shows that 1t had clearing house %eertii-
Gates outstanding OH December 10. In gen
eraI, the statement shows that the State
banks hold ample reserves, and several OF
them have larger sums on hand than tue
requires.
Bank clearings is about the only fair
adequate measure by which TO compare
business with that of n year ago. Bank
elearings in the leading cities of the United
States show a decrease in their clearings,
while the smaller towns show an Increase,
but the relgning tendency is to restrict
= II. ~. ,,,4tI tb1 ra1affOp- IF qradif
and cash are brought to an equilibrium
will this continue.
New York banks are preparing them
selves 10 call and pay loans which VIII
due about the first of the year. Many
sixty-day notices will have matGred, and
the banks will have to dispose of an enor-
nous amount of cash to eager depositors,
and in the meantime they will also call
loans. Cali money will undoubtedly rise
rapid leaps, but this will be only tenn
pororay as experts declare 1t so.
The New York Cotton Exchange, New
Orleans Cotton Association and the Liver
pool Cotton Association are closed today
as an extra holiday. The New York COT
fee Exchange will also be closed today.
TO relieve the money! stringency in the
holiday season many corporations through
out the country are beginning to pay off
their annual and semi-annual dividends
and interest disbursements.
Mr.. King. OF Eisele & King, said: The
money situation does not warrant any rally.
Dullness seems t9 be the predominatine
feature and stocks, we think, can be bought
on reactions from now on
Only routine business was transacted al
the directors meeting of the Pennsylvania
Railroad today. .
Reports from Chicago say that country
banks are increasing their demand 70;
commercial paper, and discount rates are
firm at s per cent. Judging from inquiry
received by Chicago brokers in paper there
will he a brisk demand after the middle OF
January.
Yesterday all the produce, stock and
commodities were closed in observance OF
Christmas. The weekly statement OF the
of England, which Is usually made
public on Thursday, will not be made pubs
lie until tomorrow.
The directors of the Delaware and Eud-
son Company today declared a dividend OF
. per cent. for the year, payable as fol
hpws: ~ per cent. ON March 16 to stock
holders of record February 81; "a per cent.
on June Is To stockholders of record May
%, "a per cent. on September 10 to stock
holders of record August %; "a per cent.
on December 10 to stockholders of record
November "a.