The evening star and Newark advertiser. [volume] (Newark, N.J.) 1907-1908, 1907-08-26

income. When stocks or bonds are bought
hot only Is the interest or dividend which
they will yield considered. but also the
prospect Of an advancing price. There
fore. a falling market, although 1t leads
70 increases in incomes. keeps out a good
many investors who want in addition to
the Weld the feeling that their securities
are apDreciatina.
Officials of the Hudson and Manhattan
Railroad say it is believed that tbs north
ern tunnels Of the RfcAdoo system connect
ing New York and New Jersey will be
opened for traffic about December 1.
Evidences OF the shifting of securities
IN the hands of the so-called investors
continue to come in. While here are no
indications that heavy Withdrawals will be
made from the New York savings banks
for the purpose Of investing funds in Sc
curitles. brokerage houses with banking
connections outside of New York report
that they have done more buying OF small
lots since March than at any corresponding
period.
Producers OF copper do not hesitate to
conceal their anxiety over the future
course Of the market for the metal. A
wide difference of opinion exists as to
the future price of the metal; some say
20 cents a pound will predomlnate. while
others believe that a more drastic reduc-
ton will have to be made.
The convention of the Associated Chap
teFs of the American Institute OF Banking
came to an end with a banquet in Detroit
on Saturday evening.
A merger of baking concerns all over the
country. which promises to rival the bis
cult trust. as the National BISCUIT Com
pany has come to be Known. has been IN
process, of organization during the last
few weeks. and reports Of the auditors
who have been examining the books of the
concerns which 1t is planned to put into
the combination will soon be submitted TO
the promoters. The new Is
to be capitalized at 100000. and will
include nearly 100 plants, now independent
of the existing trust
Following is the compilation of Agures
by the New Jersey comrerce and Finance,
showing the conditions Of the local balk-
ing institutions for the week ending Az
gust "a last:
The combined bank statements of the
National Newark Banking Company, the
Essex County National Bank, the Mer-
chants National Bank. the North Ward
National Bank. the Union National Bank
and the National State Bank, made at the
close of business under date Of August z,
show the following aggregate Items:
Loans and discounts. $50. 517, 1880: bonds
and investments. SO, BIS. 1881; deposits, $o,-
$50, 729.17; due to banks, s1,381 $50. %; cash
and reserve. 1924, 800 IS, and due from
banks, other than reserve agants, $2,S14,-
s91 .OS.
The same authority says further: The
combined statements of the Fidelity Trust
Company. the West Side Trust Company
and the City Trust Company, made at the
close Of business under date of August Il,
show the following aggregate Items: Loans,
$40, 92S, sos. III; Investments, 49, 19, 525-41; due
from banks and cashs 81, 4S1 81; due to
banks. $780, 7s. So. and deposits. $14,S11,-
In commenting upon tie condition of the
local securities market a Newark broker
said today: with the confined tightness
of money the local market grows n, ore and
more inactive. During the pust week there
has been practically nothing doing. and the
market as a whole is uninteresting. Owing
TO the preearious condition OF the New
York City traction issues local traction
stocks took a drop from l to 3 points In
their bid prices during the past week,
Money is becoming harder instead of easing
up as expected. Secretary Cortclyou,s an
nouncement that he will systematically try
to ease the monetary stringency may heir
our money market, but for the present
nothing indicates easter money in New
Jersey"
On application of William P. 0uentell
Supreme Court Justice Brady has granted
an injunction restraining the New York
Cotton Exchange through a COMMITTEE Of
the exchange from investigating Quentell's
relations with the suit recently brought by
T.. Fl. Price against rhe. Cotton Exchange
and other matters, and from taking dis.
ciplinary steps.
The Comptroller of the Currency al
Washington has issued a call for a state
ment Of the condition of the national banks
at the close Of business Thursday. August
%.
Mr.. King, Of Eisele & King, said: 'Pres.
ent conditions places us in a quandaJy al
to the Immediate future of the market.
We think, however. that dullness. with the
tendency upward, will predominate in thf
market for the time being
j. s. Bache & Co. say: Here then, II
cause for cheer, and these consideration
should assure the investor that the countr,
is all right, and that so also are it's secu.
ffties; and this should bring him out. OF
the cellars to take advantage of the Lowest
prices for value In years. And the values
will be there even IL business recession con.
tinues and in~solvencies Increase Tht
foundation is sound, and recovery will mo-
be long drawn out as in former years.
T. A. Mcintyre Co. say: while thii
combination of disturbing features and tn,
stringency in the money markets arc likels
to keep general sentiment depressed ant
restrict bullish activity to any extent, W,
however feel we are now experiencing til,
worst effects of the present Apprehension
over the financial and political situation
What the market now stands most in nee,
OF Is a long period of quiet and rest, espe
cially from lengthy speeches on the policy
of the administration at Washington in or
der to facilitate the gradual recovery o.
confidence throughout the country and en-
able the banking interests and ca pitalist
to restore the equilibrium Of the market
and lessen the heavy strain on credits.p