The evening star and Newark advertiser. [volume] (Newark, N.J.) 1907-1908, 1907-07-03

w. ~ ldt SFcl ciIlt $3.50
were 81. 52s. O5s. which was 30 per cent.
larger :LaE for the same period In 1915.
The lumber of failures were 4,7s2, or 10
per cent. less than in 1906.
Experts figure that the cotton crop viii
not exceed 100000, using the govern
ment's report as a basis.
Berlin still remains the harrassing fea
ture of international prosperity. A great
deal of uneasiness was shown when The
statement of The Bank of Germany showed
that its cash decreased $35. c0O.OGO in one
week, while the loans increased $79,0O.0J0.
AS America last year produced 25.0G0,00O
tons of pig-iron against 22.00oGW tons
melted by Germany and England COM
bined, the steel makers of this country
are very much alarmed by the new steel
trust formed in England.
Yesterdays short reaction in the New
York Stock Market was due to a natural
speculative decline. The market adj
vanced for nine days in the face Of higher
rates of interest. prices for wheat and
cotton and lack of public support. Or
dinarily in the face of these unfavorable
affairs the market would decline but the
professional element was on hand and took
hold OF affairs.
The Pennsvlvania and Vanderbilt inter
ests in the Chesapeake and Ohio will con-
tinue TO be. represented in the board ny
Vice-Presidents Rea and Green. of the
former. inc Mr.. Twonbly, OF the latter.
Owing to the heavy interest payments
and dividend disbursements exchanges of
$512, $40. 1883 were handled by the New York
clearing house yesterday. This. COM
pared with SOC. 1857 a day before and
s53S, 451, 1856 a year ago.
The monthly circular of the National
City Bank OF New York IN United States
securities and government finance, sng-
gests the possibility of the governments
ss being refunded before their maturity
next year.
Minority bondholders of the Poughkeepsie
Bridge have decided to oppose the pro-
posal of the New York, New Haven and
Hartford Railroad to exchange their hold
ings for bonds Of that corporation.
Gold exports were resumed Yesterday by
the engagement of two lots of $5O0,00O each
to go to Holland on a teamer sailing to-
day. This is the first export since the
movement was checked last week. after
$25,o coo, coo had gone, and is looked upon as
significant in view of the high call money
rates which are now prevailing here.
Edward w. Andrews. counsel for the
Mexican Central income bondholders. is
sned a letter insisting ON interest payments
on their holdings.
Upon the Pennsylvania lines east OF
P%ittsburg there are required $50 more loco
motives than passenger cars TO handle the
traffic offered, according to the annual re-
port of the general manager, just issued.
After a successful trip of S13 miles, from
Dayton, o., 20 Jersey City. running under
its own power, the first steam motor car of
tho Ganz type ever run in the United
States reached the Erie Railroad station in
Jersey City yesterday. 1t ran at the rate
of fifteen miles an hour.
More thar 100000 pounds of wool
bought by Boston dealers at the San
Angelo and Kerville sales in Texas dur
ing the last six weeks, Is Cd the way to
Boston.
An ordinance was introduced last night
in the City Council of Chicago providing
for a subway system covering the entire
city from Evanston to Indiana line and
from Austin to the lake front.
President Shonts. of the Interborough-
Metropolitan, said that he had received no
official information regarding the report
that Corporation Counsel Ellison is soon
to make n searching Investigation of the
affairs of the company. particularly those
relating to information.
A private cable states that the Federal
coffee LOAF of $15,0Oo.0C0 has passed on
third and final reading. The Rothschilds
will loan the money.
The American Smelling and Refining Co.
today quotes the price of pig lead at 5.25, "a
decline of 90 cents from the last previous
quotation.
Snow today issued his crop report for
July. 1t makes the area of corn 81, BILL 600
acres against 1882, 900 acres last year, The
area increased in all States of Importance;
average condition, s6.2, against $50 last
year and a July average for FIVE years
Of 81.
A greater number of vessels and vessels
OF immensely greater tonnage were built in
the United States during the fiscal year
just ended than In any year for the past
half-century. During the year 1,463 vessels
Of 51o, SOS gross tons were built In the
United States and officially numbered by
the Bureau of Navigation.
1t is reported that interests connected
with the New Haven Railroad have Sc
cured nearly 10000 shares of Boston and
Maine stock and have given in exchange
therefor an equal amount of shares Of New
Haven stock.
Steel manufacturer and railroad experts
are rapidly arriving at a solution of the
steel rail problem. 1t is believed that with
In n cOmparntiveIy short time the varIo,a
steel companies will have arranged a new
schedule of prices, which will be regulated
by the quality of the rails demanded.
Said a conservative broker: I'VE %ontinue
to feel that caution is necessary. So much
uncertainty Is liable to enter into the con-
ditions requisite for a strong market that
lower prices are probable"
THE InMnnM MApYrn