The evening star and Newark advertiser. [volume] (Newark, N.J.) 1907-1908, 1907-07-22
AND NOTES
FOR INVESTORS.

and the city. Is third in the industry IN
the country. The capital invested Is esu-
mated at $2,2so,0o0
In the calendar year, of 1905 the Uniteo
States for the first time exceeded Great
Britain In the value of shoes exported, the
United States a~ggregating $9,65s,76l ana
Great Britain $3.50, 672. The grand total
of Exports of the United States of leather
and its products for 1906 was nearly SAL
0o0,o 600, a considerable increase over pre-
ceding years.
That the cost of railroad supplies is in
c~reasing is shown by a comparison OF
prices paid by the Pennsylvania Railroad
last year with the present rates. steer
angles have increased In price 81 per cent,
bronze journals bearing % per cent, cop
per % per cent, malleable Iron castings 70
per cent. Brass and tin have each in
creased 16 per cent, and other important
supplies have increased from s to 10 per
cent.
The pig iron market is extremely dull all
over the country. and In order to stimulate
buying some producers have cut prices.
This dullness is not likely to continue I'M
less the strike in a number of ore regions
are ended.
Out of a list of twenty-nine short term
uOlCSt lliB llinJOiib9 VI min ~ ApSoO0
by railroads. 1t is noticed with the excep-
ton of two they are selling below par.
with accrued interest. At a rough esti-
mate there are about s275. 900, 600 of these
notes in f1otation. and they mature on an
average within three years.
Following are statistics compiled by the
New Jersey Commerce and Finance, show
ing the condition of the local banking In
stitutions for the week ending July 20:
The combined statements of the National
Newark Banking Company, the Essex
County National Bank, the Merchants Ma
tional Bank. the North Ward National
Bank, the Union National Bank, and the
National State Bank made at the close OF
cuisines under date of July II, shows the
following aggregate items: Loans and dis
counts, s20,5 26, 1903 bonds and invest
ments, $3,161. sos. Sc; deposits, $33, 49S, 94S.6 IS;
due to banks. 81, S45, 2s2. 10; cash and reserve,
Sc, 906. 577.23 due from banks (other than
reserve agents., $2,62S, 951.0S.
The combined statements of the Fidelity
Trust Company, the West Side Trust Com
pany and the City Trust Company, made
at the close of business under date of July
II, show the following aggregate items:
Loans, $40, 1888, 499. So, Investments. $13, $780,
l76. Al; due from banks and cash, 81, 400, 677. ca;
due to banks. $2,110, 721. As, and deposits,
$14,9 17 ,64s.31.
The local securities market remains
quiet. A few municipal bonds were sold
by a broker, who bought a large quantity
and some gas. electric and traction issues
were disposed of In the last few days.
Bidders and sellers are few at prevailing
prices.
Railroad earnings continue to make a
remarkable good showing, and in this re-
spect the Hartman roads in their state
ments held the record.
While general business. sentiment is
more conservative, and While in general
ines more or less contraction is noted,
there is no very decided curtallment OF
activity. Money is working somewhat
more f~avorably, and consequently the OUT
look for a continuation of prosperity is
bettered.
Because the American Railway Associa-
ton recently raised the per diem on for
eign cars from Is to 50 cents a.day the
New Haven has given notice of its with
drawal on October 1 from the association
and the freight car per diem agreement.
Directors of the Corn Products Refining
Company made application to the New
York Stock Exchange to admit to quota
ton on that exchange s2,s4a.00o of twenty
year 5 per cent. sinking fun bonds of
the company due in 1881.
The American Telephone and Telegraph
Company issued a statement showing that
more than IS per cent. of the new stock
has been taken. Thirty thousand shares
nave been taken by a London financicr.
An official report shows that out of a
total on the Pennsylvania Eastern lines
of 6.0S2 miles. more than 1.50O a been
equipped with block signals within the
past three years at a cost of $685. for
construction and erection and an add
tlonal cost of $210,S1 annually for opera
ton.
j. s. Bache & Co. say: 'Such splendid
accomplishment on the part of a leading
railroad, coming at q time when power
full. long-continued official attacks upon its
management have fallen fiat, cannot but
put restored confidence as to American
securities into the minds of investors all
over the world"
Henry Clews says: There is nothing
now to prevent average crops in general
except their late condition and early
frosts; and since there should be a good
demand for all agricultural products at
profitable prices, our farmers who are
generally considered the backbone of the
country seem destined to enjoy another
season of prosperity. This fact has no
doubt had much 10 do with inducing a
better feeling abroad respecting American
securities. 1t is not too much to say that
London is much less pessimistIc regarding
the future of our stock market than New
York"
I. A. Mcintyre & Co. say: What lit
tie investment demand there has been of
late and is still In evidence. is confined
chiefly TO the purchase of Short time
notes. offering 6 to 7 per cent. on the in
Investment. There is still little or no put
side or public investment or speculative de-
mand for stocks generally. and after the
short interest in the stock market has been
driven Ia. we are more likely to see the
speculation relapse into dullness again and
prices develop a renewed sngging tendency
as soon as the big interests endeavor to
liouidate."
Room traders of the New York Stock
Exchange We're still active on the bear
side at. midday. and after selling stocks
at slight price concessions. talked in a
sarcastic manner about the many pre-
dlcted. bull deals. and picked out the stories
in reference TO Northern Pacific as the
chief subic c. of their ridicule. There was
any more attention to bear talk than ia
bull points a few days ago.
The director of tAe mint TODAY mr.
chased $l00.000 ounces of silver for deiiv-
cry at New Orleans at 60. 52s cents a fine
ounce. W
n nsoTn -