The evening star and Newark advertiser. [volume] (Newark, N.J.) 1907-1908, 1907-10-21
NEWS AND NOTES
FOR INVESTORS

"
Western bankers continue to remain op-
outlook and in regard the condition of the
securities market.
The financial situation abroad is both
fair and unfavorable In Paris the fort
nightly settlements were made in the best
possible conditions and with good pros
poets in view. The Bourse has shown it.
self independent of New York influence,
but there are some elements of uncertainty
still existing. On the other hand, in Lon
don and other important centres the pub
lie does not seem to care which way the
pendulum swings. There Is simply moth
inging doing in the markets, and every
body Is waiting for news from New York.
Then there is the disconcerting trouble
in the "a lroad world over in England.
The situation is now more acute than
ever, the most critical stage having opened
and which is naturally crushing prices
down.
Following is the compilation of figures
by the New Jersey Commerce and Finance
showing the conditions of our local bank
ing institutions for the week ending Octo-
Der 81: The combined statements of the
National Newark Banking Company, the
Essex County National Bank, the Mer-
chants National Bank, the North Ward
National Bank, the National State Bank
and the Union National Bank on October
16 show: Loans and discounts, $31, $50, 0OS. AZ
bonds and investments, $S.446, eS6.s1; de-
posits, $50. 447, S45. 76; due to banks, 81, sos, :
bS5.29: cash and reserve, Sc, SSS, S61. 26, and
due from banks other than reserve agents,
20 on 0QT TE Tla 44,,AfraI -
the City Trust Company, the Fidelity
Trust Company. and the West Side Trust
Company, made October 16. show: Loans,
ST, 06O,3 81. SO; investments. s1S, 752, $50. 10; due
from banks and cash, 81. 915, 1861. 81; due to
banks. $3.50. 410.S2, and deposits, $14, 925.-
S52.S1.
The local money market. as far as the
banks were concerned, showed an easier
tone last week. There was a decrease in
the loans and a substantial increase in
the deposits- but money cannot be Dor
rowed unless the maximum rate is paid.
The manufacturers and other commercial
enterprises seize all available funds, leay-
ing very little for speculative purposes.
The anthracite coal trade is beginning to
reel the pressure OF fall activity, and
orders fOr early delivery are becoming
more plentiful and urgent.
There has been much of interest in the
pig iron situation during the past week.
and the dealers are now In a more hopeful
frame Of mind. The sales of basic pie
metal during the week amounted to more
than the aggregate for six weeks past.
Prices do not stand firm, however. Pros
pective buyers still adhere to their tend
eLcy by not buying material NTH prices
fall still lower.
OF the total number OF shareholders Of
the Pennsylvania Railroad Company 49,
per cent. are women and 1927 per cent. Of
the entire capital stock of the company
is held abroad.
Regarding the break in the stock mar
ket, E. II. Hartman said: TT means
liquidation, serious liquidation that is
~heartrending. 1t has affected people whom
lone of us thought could be touched. But
1t VIII eliminate from the situation the
weaklings who should have never entered
the market, and thus tend to steady
things"
A recession in business will In no was
interfere with the construction plans Of tn,
United States Steel Corporation, Is the re
port given out. To date appropriation
for the construction of the plants of the
Indiana Steel Company, at Garry, aggre
gate close to $4,000, 600. Considerably les,
than one-half of this amount has beer
spent, so that the corporation has still oil
hand S5.000,0O0 to $4,000 900, which ough
to be sufficient to meet all construction out
lays at this plant for the next year. ever
il not another dollar is appropriated.
The total disbursements in November b,
railroad, Industrial and miscellaneous cor
porations of the United States for divi
dends and interest TO stockholders ans
bondholders will aggregate $50. 4S7, 1923, n
compared with s75. 767 .49l in the same montI
of 1906. Dividend disbursements by TN
railroads next month will total 500, 3S4, 200
In comparison with SO, 3d. $40 in Novemhe
a year ago. and the industrial and mis-
cellaneous corporations will dispose of $24.
1924. Interest payments by the railroad
will amount to $24,S91, $50, and by othe
corporations to s10,502.226. :