The evening star and Newark advertiser. [volume] (Newark, N.J.) 1907-1908, 1907-10-09

VIII w.
Central votes out of a possible 95o,OOo.
wisconsin Centrals operating expenses
to gross earnings for the last fiscal veal
was ga per cent, the lowest operating
ratio IN eight years. The proportion N
1906 was 63.s per cent
Statistics compiled by a large New YORK.
firm show total amounts of short term
notes now outstanding as follows; Indus
trial companies, S6s, 294,O00; public utilities
sl10,175, 900; steam railroads, $507,O27,o2S, a
total of $6s3, 406, 52S.
A call for a 10 per cent. payment Is about
to be made upon the syndicate which IN
derwrote the issue of S100, 000,o COO 4 per CEN.
convertible bonds of the Ainerican lely :
phone and Telegraph Company. This VIII
make a total call of 90 per cent. on the
underwriters. The remaining call of 10 per
cent. Is due on January /, 1905.
Official nounceme is made from the
offices of the Bethlehem Steel Company
that the sold to the Lehigh NailFy
Railroad $4,000 tons Of open
hearth steel rails at a substantial premium
over the base price of SIS a ton for Besse-
mer rails. This is the largest order 1or
| steel rails that has been placed Tor sew
eral months past.
CnHlfmun 1diSs VI ~
| Steel Corporation, when asked about the
Wholesale laying off Of men In the iron
and steel mills in the Pittsburg district
said he had not heard OF it.
The SHIPMENTS of anthracite coal last
month footed up 5,442,3S4, as Win
4,527,SSS tons a year ago. The tonnage
since January 1 to date is $500 olo' as COIL
pared With 40. 205, SAG tons for the same
period last year.
When President Finley, of the Southern
Railway, was asked by the North Carolina
Legislative committee to state what salary
he received he answered that he did not
know what his salary was. Other officers
of the company when asked the same ques-
ton answered the same way. Yet the
railroad officials wonder at the unfriendly
attitude toward them of legislative COM
mittees.
Wire conditions are said to be partly re-
sponsible for the dizziness. The weather
has been bad, and houses with Western
connections had to work in joint account
with other firms, as was the case yesterday
when a single wire was doing the entire
Chicago business at one time yesterday.
Similar Interruptions interfered with the
business etween New York and Boston.
1t has been only eight years since the
United States supplanted Great Britain as
the leading coal producer, yet the increase
In this country has been so enormous that
Great Britain "a no longer be classed as
a competitor.
Announcement was made at the New
York Stock Exchange that the Tennessee
Coal, Iron Railroad Company rights
have been admitted to quotation.
During September there were forty-six
new national banks chartered in the
United States, with an aggregate capital
of $1,957,O00. In the year ended September
80 charters were granted to $40 associa-
lions. but there was a loss to the system
of eighty-s seven banks by voluntary liqui-
dalton. and three by failure.
The choicest four to six months single
named commercial paper is negotiable at
Z per cent, buS anything not of the best
class is practically unstable.
The Western Maryland Railroad has sold
5000 acres of valuable coal lands and the
price is understood to have been very large.
The antitrust suit against the Fort
Worth, Texas, Livestock Exchange has
been settled by the payment of penalties
by the exchange, amounting to SIT 300, and
the cancellation of its charter. The case
had been pending for over a year.
Some of the stockholders who attended
the annual meeting of the Erie Railroad
expressed more or less dissatisfaction with
the recent decision of the directors to pay
the dividends on the roads preferred stock
in script instead of in cash. Their objec-
ton were met by the statement from Presi-
dent Underwood, who presided at the meet
ing, that the payment of the dividend in
scrip, instead of in cash would inure not
only to the ultimate benefit Of the com
pany, but OF all the stockholders as well.
e. II. Hartman and his policies were
Endorsed in a resolution passed at the an
nual meeting of the stockholders of the
Union Pacific Railroad Company held at
Salt Lake City. The board of directors
were reelected without opposition.
-
r. A. Mcintyre & Co, say: ''An the
good missionary work of the last few
days galvanjzing prices and stimulating
more hopeful sentiment appears to have
been done to no purpose. We continue to
see nothing better in prospect thar a
continued comparatively narrow market,
with a SdSBHlB tetlutIty 10 prices until
the money situation has been relieved
Railroads in Kansas and Georgia. where
the maximum rate is two cents a mile,
ara now asking permission to charge three
cents when a traveller fails to buy a
ticket and pays cash on the train.
Post & Flagg say: THE notable feature
in the situation continues to be the high
price for grain and the extraordinary de-
cline in the visible supply, due to the acute
demand both here and abroad. This has
one advantage of bringing the crops
promptly to market, and will perhaps pre-
vent as long a tie-up of funds as is ordi-
narily the case in the autumn. The money
situation, though tight, seems to be SLOWLY
righting itself, and should result in easier
rates ON a better investment market by
the end of the year"
Western Union Telegraph Comnanv re-
ports for fiscal year ended June "a Last
total expenses $26, 534, 1876, increase a.. e27 12l.
total expenses $685. 34 1876, increase. 50, 199, 124:
net earnings $6,S24, 21O, decrease s74s. S79 ana
total surplus $l6,S64, 7S1. increase s3e. OK,
Vice-President Moulton, of the Corn Ex-
change National Bank, OF New York savs
that our position shows no chanee
Money he added. lis in strong demand
at minimum rates of 61s per cent Rrolsers
are Offering pnmnnar1fa1 49,