The evening star and Newark advertiser. [volume] (Newark, N.J.) 1907-1908, 1907-12-30
BUSINESS AND FINANCE.
AND NOTES
FOR INVESTORS

foreign EIIldIlOIl 10 III tho ~
mood. The ease in the London and Berlin
money markets tended to demand higher
nrices for government securities. "a q
bull movement In stocks will be starteo
Is taken with a remote idea, and continued
depressing reports have had little erect
If any on the market. Stock exchange
business is dull, but many houses look TOT
better business after the January disourse-
ments.
So far the pressure on the money market
because of the clearing up of accounts and
the dividend and interest disbursements
which generally finds reflection in higher
rates for money has not been felt. Inc
financial community has become accus-
toned to it, and is undisturbed by 1t Tor
the present. However. after the first OF
the year a reversal in affairs may occur.
During the close-down In the iron aud
steel mills In many sections of the eoun-
try In which thousands of men were tenn
porary lad off, the mills underwent a
complete readjustment in repairs. The
curtaiIment In output occurred In a most
acceptable period because the mills would
have Ia undergo repairing at some time
and probably that time would be In a very
busy season, and that would nave cost
the corporations so much more money
Nearly all G. these mills have been fixed
and are at present in perfect working
order. ready to turn out thousands of tons
of production. They are also ready 10
return thousands OF men to work who nave
been idle for nearly two months. BY tne
first of the year it is expected that fully
so per cent. of the men laid off will be
returned to Work.
A local banker, when speaking to al
EVENING STAR representative, said tina
fully SIS, 100000 of the money which pc
.longed to people living in Newark and VI
cinitv was deposited in New York city
savings institutions because they received
4 per cent. interest, and they did not deposi
1t here for that same reason. The above
figure ma be a little exaggerated, bu'
1000 600 would be a more conservative
estimate. During the past month more
than half of our local trust companies ane
savings banks have placed themselves on
4 per cent. basis, also. This will invite
many of those depositors which have thei
savings in New York banks to the loca
institutions which pay the same interest
These depositors will not draw out thei,
funds init after the first of the year, be
cause they will want to get their interest
If half or three-quarters of this amount !
taken from the New York banks and de
posted III tne ioca, - in3ares+ !
paying inc same Inv oaai ,nona,
Woulu neip t,,. TN. loo, secnri
s.rinseuSs nshSor, r. Neon In a rut 10
the last two years, due to t~heItightness o
money, will be able to get partly out of !
and business in both real estate and securi
ties will have a complete revival.
1. r..r.v in Ionaop calls will
= nsni,s, commandments to NJ
a.. e-e as,inst oS7 in the sam
month a year ago. The capital creation
in the last year aggregateo izo'ooV'vo
pds., as compared with lzo'lfo'WV pas. u
the previous twelve months. AS compare
a shrinkage in market value of 100000 90
DDS. to about $500 900, 900 pds. in the ag
.gregate.
-
Banker are almost unimous In express
is better than at any time since tn
panic. They are pointing to different sign
Indicating a loosening up of funds by tn
interior and are supporting their belle
on these signs that the money situation
will gradually ease up to such an exten
after the first of the year that a genera
restoration of confidence will take hold o
the banking situation IN this country.
Noor,, ali 80 tho Iahor ,,riors &, uavor,
49, +Sreate,ad 20 str;,e unless +be con
traotors connada the stTsting masons do
mands
D,,r,ns 1907 tbaro wa, listed N m,
New York stock exchange securitie,
anorr+inr IL valve ~ q lIttlo loss than On,
billion dollars Tho value of stock Iistef
This wear il obout az. O0O. 600 less than las
year, and the amount of bonds listed il
about SIS. 900. 600 less than in 1906.
-
The latest and most important business
in finished steel products is the placing O
season contracts for steel castings calling
for between 10000 and lZ'ow tons.
t trust ; os companies 2 Fss STATE n N e.mD B1sS in .s Snswsi