The evening star and Newark advertiser. [volume] (Newark, N.J.) 1907-1908, 1907-10-14

began at about the first of the year the
shrinkage in eighteen leading copper and
smelling issues in which New York IS
interested is s445, 1000.
TIE movement Of the crops in the
West is largely responsible for the strain
on the Western money market. The
movement is also somewhat complicated,
due o the course taken by the Farmers
Alliance. which advised its members to
hold on TO their crops in order to procure
higher prices. Under ordinary circum-
stances tho large Western banks would
begin to collect their loans within a short
period after the general movement OF
he crops. but "a the Farmers Alliance
has taken this stand the delay may be
long enough TO cause embarrassment in
financial circles.
Following is the compilation of figures
by the New Jersey Commerce and Finance
newspaper. showing the conditions of the
local banking institutions for the week
ending October ~. The combined state
ments of the National Newark Banking
Company. the Essex County National
Bank. the North Ward National Bank, the
National Stale Bank and the Union Ma
tional Bank made at the close of business
under date of October ., show the follow
ing aggregate items: Loans and discounts,
s91 ,954 7s4. 56 vonds and investments, s3.453,
$50. 81; deposits. $50. 35s. 101 Al; due to banks,
81, So 41 "a; cash and reserve. So 99, 9SS.04.
and due from banks. other than reserve
agents, 81. 252. 1888. "a. The combined state
ments OF the City Trust Company, the
Fidelity Trust Company, and the West
Side Trust Company, made at the close
of business under date of October 9, show
the following aggregate items Loans. SILL
O62, 636. 25; investments, $13. 1853. 254.S3: due
from banks and cash, 81, 752. S34. 0S; due to
banks, s2,114, 70O.S5, and deposits, $14,-
765, O72.59
Tin is the only metal for which the United
States is entirely dependent upon foreign
sources. Last year the various tin-pro-
ducing countries produced about 97.0GO
tons of tin. of which the United States
consumed about 1900 tons. Although pro
ducing nothing. the United States con-
sumed nearly so per cent. of the worlds
output, which. al an average price of 364
cents a pound, means about sS4,0o0.000 an
nuaily. We are thus paying tribute in
this impressive sum to foreign operators,
almost entirely to Chinese and British
subjects.
According to 4 dispatch to the New
York Times. one of the first steps in the
proposed reorganization of the Standard
IN 1biliPhhS hAo ~ -
the natural gas interests under one COM
pany, with Pittsburg as the headquarters.
The Peoples Natural Gas Company. of
Pittsburg, it Ii declared, would be used
az the nucleus of the great new orgivc.-
cation. with a New Jersey charter and "A
capital of $l0o,O00,0 900.
Post & Flagg say: THE neavy liquida-
ton III Wall Street and tremendous short
selling, which has lately been in evidence,
should have brought the market to low
figures. or near that point at least for the
present"
It seems that the cut in copper metal
prices will never let up. Again all grades
OF copper were CIT, placing copper on a
thirteen-cent basis.
The report of the American Type Foun-
ders Company for the fiscal year ended
August 81 last shows net earnings of $751;
043, decrease S124,G90, and a total surplus
of $500. 662. increase S161, 043.