The evening star and Newark advertiser. [volume] (Newark, N.J.) 1907-1908, 1907-10-16

] stimulates the DTiCt OF american W1tdt
United Copper, which took such
phenomenal jumps in its value on the
New York curb Monday and yesterday
morning. took a sudden drop, losing
nearly all of its advance. The cause of
the h%uctuation Is due to the dispute In
the ownership of a large number of
shares sold on the curb, and the par
ties at interest nave been trying to
straighten out the mess by buying in
open market.
The American Smelling and Refining
Company has announced that the mum
Der of stockholders of it's preferred
stock has increased by 1900 between
July 1 and October 1. Common stock
holders have increased 700.
Kuhn, Loeb & Co. announce that they
are prepared to purchase at par and
accrued interest to date of delivery all
sylvania Company Az per cent col
lateral Improvement notes, due Novem-
Der l next.
At the annual meeting of the stock
holders of the American Locomotive
Company the four retiring directors
were reelected, and the stockholders
N@hoC fOkC4 liz u ~
ments to the bylaws. permitting more
elasticity in the exercise of the powers
of the executive officers.
Directors of the United States Ex-
press Company have acknowledged de-
feat in he long hght with the minority
stockholders by increasing the dividend
from a 4 to 5 per cent. basis. Several
months ago a committee of s~tockhold-
iers demanded an increase in the divi-
dend disbursements, saying that the
company was earning big money and
could well afford the increase, and that
periodical statements concerning the
company's earnings should be made.
President Platt replied that the COM
pany's earnings did not justify any
such claim, and that, therefore, no in
crease could be made, but the board
finally decided in favor of the stock
holders demand.
Metal copper is selling at present at
its lowest price in three years. 1t is
now on a 1914 to 12% cent basis and
only small sales are being reported.
Several reports from Boston say that
the accumulation of the metal is about
275, 900, 900 pounds and that enormous
shipments are sent abroad for European
consumers, who are expected to come
the market soon.
-
Freight congestion in the Northwest is
said to be hurting jobbing interests. The
strike of machinists and boilermakers Is
beginning to show some effect. Locomo-
tives are practically out of service and the
roads are daily becoming more crippled
at a time when every available car and en-
CINE should be working full time hauling
grain from the West and conl and mer-
chandise from the East.
An increase in government MONEYS in
national banks since August % is expected
to reach nearly S30,000,O00 by Saturday. Up
to Monday 1t was over $25. 900. 900.
The Chicago Terminal Transfer Company
has pushed its track elevation work this
year as rapidly as possible, and the main
portion Of 1t Is practically completed. Only
5000, 900 receivers certificates out of the
total authorization of $3.50 600 have been
sold, and some of this money is stir in
hand.
All the machine shops Of the westing-
der one head at Tarford City. Pa, is the
report.
Frank Won Allen, representing the
United States Steel Corporation, has made
an offer to the Passaic Steel Company for
us plant at South Paterson. The proposal
will be discussed at a special meeting of
the directors. When in full operation the
plant employs about 1900 men.
1t had been figured out that there mas
been a shrinkage this year of $32, 574,600 in
the market values of fifteen equipment,
steel and electrical companies whose shares
are traded in on the New York Stock Elk
change. The high prices Of 1907 and the
prices reached last Saturday are the
points from which the shrinkage is com
puted.
Post & Flaag say: 'The lack Of rallying
power is discouraging, but there was good
buying at the bottom, and the hone is
expressed here that the larger interests
viii protect the market more at this level.
Certainly one would think they could
aHord TO do so without any great personal
risk
Mr.. Muth. of Van Schaick & Co, said:
Good railroad issues which are paving
high dividends look, very hattefinc at
pI esent values. and they can be bought.
providing they are bought outright or
on a heavy margin SO as to discount
any fluctuations"
The new Tennessee CcaL Iron and Rail-
road Company stock offered for subscrlp-
tlop Mt par has been taken by the stock
holders Of the company.