The Washington times., 1907-05-28
FINANCIAL GOSSIP.

Gold exports began when Goldman
Sachs & Co, engaged $4,000 to ship 10
Paris This viii leave by the steamer
Bremen. which win sail today. This is
the first large engagement of gold for
export since June. 1905. when $1,000. 600
was exported. Possibly 100000 moro
will be shipped TO Paris before the end
Of the week.
The railroad private average fell yester-
day TO 1898. which is only LII above
the low point of the year. reached on
March y.
An important firm OF stock jobbers,
Hubert Bruton & Co. announced their
failure on the London Stock Exchange.
The firm, which was established in 1874.
dealt principally in copper shares, in
Guiding Americans and Rio Tinto.
r. II. Hartman, through the Union
Trust Company OF St. Louis. has &C
CURED control OF the new Gulf Coast
line. which he will use as a part of his
Sunset system in Texas and to con-
meet with his Mexican Coast line.
Since January / the railway and in
dustriaI borrowing in this country has
aggregated Sg12. $40 100. divided as follows
200. 600; notes. S2S5, IL, 900, CT n total OF
S792, 900. In the Industrial, new stock
amounts to $14.659.OOO; bonds, $50, 80. 900;
notes. S42. 900. 90: total, $40. 600 900. This
is a pretty good record. and the year not
half gone.
Directors of the Federal Mining and
Smelling Company have declared the
regular quarterly dividends Of Ia per
cent on the preferred stock and ~ per
cent and 81 per cent extra on the com
mon stock. payable June IS.
The volume of new securities an
nOUnCcd by the leading railroad and in
dustrial corporations during the two
weeks ended May &c, has involved $751;,
100000.
Jacob II. Schin. banker. at the an
nual dinner Of the Jewish benevolent
society. B'nai Birth, advised the Jewish
youth to go West, saying that greater
opportunities and a warmer welcome
awaited him there than would be his
share on the Eastern seacOaSf.
The United States Steel Corporation
has applied TO the London Stock Ex-
change for an official quotation for 81
sinking fund gold bonds, making a total
Of 1851 10000.
A number OF large stockholders OF the
Atlanuc coast Line Railroad Company
have applied for an Injunction to pre-
vent the railroad from putting into eff
feet the 2h-cent per mile rate recently
enacted as law in North Carolina under
the plea that II such a law became o.
erative 1t would be condscaUory in char
acter and therefore unconstitutional
James r. Branch reviews the work Of
the currency commission appointed by
the American Bankers Association, and
o. which he was secretary. Mr. Branch
believes the Aldrich bill, which con-
tains a number of recommendations
made by the commission. is a step in
the right direction. but that its defect
is that 1t does not authorize the banks
to issue credit currency, although the
United States is the only civilized coun-
try which has no currency Of this ma
ture. The members of the commission
were unanimous for credit currency
On December 81 last the United States
Steel Corporation had an unexpected
balance on account of special construc-
ton for the new steel town and plant
at Gary, Ind, of nearly $1,000 600, and
since then has made appropriations Of
sl4.5O0,000 on account OF expenditures
made for additional property. If earn !
ngs continue as large as they have been
Tor the first four months Of the present |
year, the appropriations for new con-
struction in 1907 will approach $50, 900, 900. |