The evening star and Newark advertiser. [volume] (Newark, N.J.) 1907-1908, 1907-10-03

1I Tue dilliudl meelilR VI IIlHlly (Oppcl
1t developed, according to the books of the
company, that Thomas W. Lawson owns
only 200 shares of the company. The
question naturally arises: When was he
selling his stock?
Possibly another result Of the Metropol-
itan receivership will be the passing of
the quarterly dividend of ~ per cent. on
Third Avenue stock. payable October 81.
If this happens the organization of a pro-
tective committee of Third Avenue stock
holders probably will follow.
The Empire Copper Company has de-
cided to shut down its properties until the
copper metal situation becomes more set
tied. The company is of recent organiza-
tion, being a consolidation of several other
small companies.
The war between the Pennsylvania Rail
road Company and the Western Union Tel
egraph Company has come to an end by
the restoration to the Western Union of
its contracts to the railroad company to
operate telegraph lines throughout the lat
ter's system. Under the terms of the con-
tract the telegraph company will operate
several lines additional to those formerly
worked. The peace terms include the
dropping of all litigation pending between
the Western Union and the railroad. 1t
is understood the new contract is to run
twenty-five years.
Stockholders of the Westinghouse Ale
Brake Company voted to increase the CAPT.
tai stock from 81, 900, 600 TO SIS, 900, 900. The
purpose of the increase was not announced,
but 1t may have to do with the reported
negotiations to acquire the New York
Air Brake Company.
1t is the belief Of the National City
Bank Of New York city, as expressed in
Its October circular, that although govern
ment revenues are falling off the Treasury
Department Will be able to advance funds
to the banks as they may be needed to
keep the crop situation well in hand.
The circular says the treasury can con-
tinue to afford relief, as much has been
accomplished already at small sacrifice of
treasury cash
The decrease in speculation in New York
within the last two years is shown by the
fact that for the month of September the
receipts from the stock transfer tax
amounted to- $263, 1902, as compared with
$60S, 500 for the same month In 1906, and
1872, sol in September, 1905.
Bank clearings in September, according
to reports TO r. G. Dun & Co., show that
settlements through the banks on COM
mercial account were quite as heavy as in
preceding years. The total bank exchanges
for the month at all cities in the United
States outside New York city was s4,511,-
065, 62S, or 7.6 per cent. larger than a year
ago. There was a heavy decrease at New
York city, due to the much smaller volume
of security trading this year and also the
much lower security values prevailing.
There was a small loss at Boston and
Philadelphia, in part attributable to the
same cause, but at most other cities there
is a considerable increase, especially as
cities in the West, the South and the
Southwest.
A good authority on st. Paul says that
the company's books show an increase of
$50 names in the individual holdings with
in the last two months.
The Chicago, Burlington and Quincy Rail-
road Company announces that the sum of
S232,04S has been set aside for sinking
fund purposes, and will be applied to the
purchase of Chicago, Burlington and
Quincy Iowa division bonds at the lowest
price not to exceed par and accrued in
terest for 4 per cent. bonds and 105 and ac-
crued interest for 5 per cent. bonds.
The Iron Age Says: Reports of the
closing down of the steel works, apparent
" started with an object, should be re-
ceived with reserve. An instance of these
false statements has cropped up this
week, which dealt with ~stoppages at Ed
gar Thomson and Homestead. There has
been little movement In the pig iron
markets"
There is a difference of opinion among
steel men as to the ultimate result of
~Spresent conditions. The point of difference
appears to be whereby there will be a re-
sumption of ouying before present orders
are filled or whether the recession in bust
ness will continue until the closing of
some of the mills become a necessity.
Instead of purchasing bonds of a class
that will be accepted as collateral for
government deposits, officials of certaiu
national banks throughout the country
are borrowing them from bond dealers.
Since the demand is only mediocre, the
latter are anxious to loan the bonds. in
asmuch as it will allow them to draw in
terest until they can be disposed of put
right,
Directors of the Chicago and Alton
Railroad Company named eight new MEM
bers to represent the interests of the To-
ledo. st. Louis and Western Railway
Company, known as the Clover Leaf,
which company recently purchased the
Chicago and Alton.
For the first time there were made
public the income account and balance
sheet of the STANDARD Oil Company of
New Jersey, which is the parent of all the
Standard Oil companies of the world. The
report shows that the wealth of the COM
pany has at no time been overestimated,
and that stockholders who have gone into
Standard Oil in the belief that the mys-
terry in which the company enshrouded its
accounts meant money calculated wisely.
The has a total surplus for
profit and loss accounts of $261, O0,COO, or
more than nine times the amount of the
great fine, and the c~ompany's total assets
are 1911 ,664,532, as compared with a capt.
talization of 800, 100000.
Stockholders of the Canadian Pacific
Railroad Company at their annual meeting
authorized the issue of debenture stock
~aggregating 5000, 900, sufficient to finance
several additions and extensions to the
road. The president % the company said
that at a future date the stockholders
would he asked to authorize the issue OF
the balance of capital stock amounting to
about $780, OO,o COO.
In the annual report of the New York
New Haven. and Hartford Railroad Com
pany, Charles 5. Mellen, president of the
road. says with regard to the proposed
Boston and Maine merger that the pres
ent situation excludes rival interests: saves
81 per annum per share upon outstanding