The evening star and Newark advertiser. [volume] (Newark, N.J.) 1907-1908, 1907-12-10

~. IL DaAAVAAf ST. "
Company. has issued a circular to tne
stockholders conveying an offer by the
American Telephone and Telegraph com
pany to purchase their stock. the latter
company low controls the Western Elec-
trio Company, but it is seeking to puy
up all the shares.
The London Stock Exchange has ordered
to b. quoted In the official list United
States Steel Corporation, Limited, S5o,-
000, 600 additional ten sixty-year 5 per cent.
sinking fund gold bonds for $1,000 eaen.
Only four banks in the United States
each subscribed for 81, OOO,O COO or more OF
the new Panama bonds.
Net earnings of the American Car and
Foundry Company for the quarter end
ing October 81 were 50, no, 643 and the com
pany declared its regular quarterly divl-
dends.
There is only one excuse for Western
and interior banks generally having larger
cash reserves at a time like this than the
banks in the big Eastern cities. Here a
large part of the loans are call loans,
which can be received by the banks in
stantly. That enables them to loan up to
their limit with perfect safety. In the
West a greater proportion of the loans are
time loans, that cannot be drawn in so
easily.
Oficials of the American Smelling and
Refining Company insist that the further
lcurtailment in the copper producing mines
will have very little effect upon their
gross earnings. as only about 10 per cent.
of it is concerned with copper. OF the
gross sales of from SIPS, 000,0 900 to $3.50, 900, 600
a year at least 800, 900, 900 is derived from
the handling of gold and silver. with lead
next in Importance.
The value of locomotives exported from
this countryAin October shows a gain of
$5Oo,oOo. During the past two years the
companies ave been doing a large bust
ness, and all dividends are expected to
be carried out as usual.
Much interest has been manifested in
Senator Tillman's resolution in the Senate
calling for certain Information from the
Treasury Department. For example, he
claims that the clearing house certificates
issuance are contrary to the law and that
these certificates ought to be legalized by
Congress.
Compilations of returns made by the ma
tional banks of New York show that on
December 8 national banks in the clear
ing house held $33, 10000 of clearing house
certificates. while the total amount of GER
tlfcates held by other banks under liabili-
ties amounted to $50, $40, 900.
Stockholders of the Columbia Corpora
ton, a $50. 900, 900 holding company. voted
at its first meeting to retire the 81, 100000
of outstanding preferred stock.
The stockholders of the Knickerbocker
Trust Company, of New York, have been
called to a special meeting tomorrow to
vote upon the proposal to increase the cap
ital stock of the company from 81 200, 900 to
s2.O00, 900, the full amount authorized in its
charter.
James j. Hill, who returned to his office
from a several days trip to Washington.
denied that he had gone there, as has been
reported, for the purpose Of consulting the
Roosevelt administration regarding it's
probable attitude toward his plan for a
readjustment of the ownership of the Bur-
nngton, and which Is now held jointly by
the Great Northern and Northern Pacific.
and which the Hill interests have planned
for some to turn to the Great Northern.
Mr.. Hill characterized this report as rub
bish and said there was no truth in 1t.
The arbitration agreement between the
Pere Marquette Railroad Company and the
Cincinnati, Hamilton and Dayton Railway,
which involved the reorganization of the
Pere Marquette Railway and the can
ceiling of the lease of that system by the
Cincinnati, Hamilton and Dayton, and pro-
vides for the settlement of claims and ac-
counts by Judson Harmon and w. w.
Grape, as arbitrators. was adopted by the
stockholders of the Pere Marquette. Out
of a total of $50, 900 shares of stock out
standing 276,545 were cast in favor OF the
reorganization.
The New York, New Haven and Hart
ford Railroad has secured the Delaware
and Hudson as an ally, which Will permit
the former road to transfer its freight to
points South. The New Haven road has
adopted this new route due to differences
with other roads regarding freight rates.
A plan was seriously discussed at
the directors meeting Of the Mercantile
National Bank of New York regarding the
merger of that bank with another, but it
came to no conclusion.
A membership in the New York Stock
Exchange has been sold for eO,OOO. The
last previous price paid for a membership
in the exchange was $57, 900.
Announcement is made that the board
of directors OF the Western Union Tele-
graph Company will meet tomorrow to act
upon the quarterly dividend. No state
ment will be made regarding any action
taken by the executive COMMITTEES today.