The evening star and Newark advertiser. [volume] (Newark, N.J.) 1907-1908, 1907-07-26

short interest 1t has had In many months,
is the opinion of Wall Street specialists
Union Pacific new bonds sold at 92Ts-
The underwriting syndicate got them At
IS and the stockholders cat 90. But the
latter only took $1,000, 600, while the UNDER
writer's hold 81. 600, coo. The manipulation
of the price is not a difficult matter with
only 100000 0 to handle.
Joseph c. Rogers was elected a member
of the New York Stock Exchange. He
bought Melleville D. Martins seat for
81, 800.
Reports connecting F. A. Heinz with
the Dolores mines in the Santa Eulalia
district of Mexico are prohouneed by asso-
ciates of Heinze to be unfounded.
President Thomas of the Lehigh Valley
Railroad said that, as far as his company
was concerned. there would be no increase
in the price Of coal at the mines or in the
rates of transportation to the seaboard,
except the regular increase of ten cents a
month from April to October in the whole
sale price of domestic sizes.
Apparently the manufacturer of steel
rails are comparatively comfortable with
regard TO the future. They have enough
business on hand to keep them going for
some time to come and they believe that
there win not be any material let-up in the
demand for a long time.
st. Paul directors failed to get a quorum
yesterday and therefore could not act upon
the dividend.
Advices received from the iron regions
of Minnesota were n little more renssuring
and pointed to al early adjustment of the
labor troubles In that section, but United
Cto4o CfooI aornr,aon qt0pk rpmpind 40
heavy as 1t has been for nearly two weeks
Said a conservative broker. THE market
will gradually broaden and the speculative
interests will take hold of a new stock
every day In their operation to place the
market on a higher basis. All stocks which
have not been moved upward to any extent
during this movement are a very good buy
on any reaction"
1t was announced yesterday tina r. A.
Heinze has formed the Miners Smelling
Company, with a capital of $1O,0oO,o COO.
The New York Central Railroad has
completed a contract by which it will
come into possession, of the Chicago and
Wabash Valley Railroad on October l.
The road will be developed as a feeder
for the big -Four
1t is estimated that the net earnings
of the Republic lion and Steel Company
for the fiscal year ended June 80 will be
in the neighborhood of $4,S5O,0OO. which will
be by far the largest reported in any
year since the company was organized.
German exports to the United States
during April and May of this year
ed to 10, 4O4, 8O4 marks, compared with
PSI, 20S marks in the corresponding pc
Rod last year.
In 1906 the average number of en-
ployees of the United States Steel Cor
poration was A2. 49,, and the average
wage per man was SIPS, an increase Of
$4 as~compared with the preceding year.
The total amount paid out In wages by
the corporation In 1906 aggregated $147,-
1855, 600, an increase of nearly $50, 900, 900 as
compared with 1904.
The London settlement begins on Mon
day and transactions there after mid
day London time are for the new ac-
count. Purchases made then do not have
to be paid for before August Is.
All Of the Gould roads have had a
prosperous year. as the returns up to
June 30 show. The percentage of increase
runs from 81 per cent. in gross business
In the case of Missouri Pacific to 26.S per
cent. In that of Texas Pacific.
Events have sustained the theory that
the manipulation of the Hartman issues
to higher levels with a view to a better
market for the Union Pacific convertible
fours would not bring the public in any
large numbers into the speculative arena.
Such increase In outside buying as there
has been is due chiefly not TO the rise in
stocks but to the clearer vision of the
public as 10 the fundamental conditions
of general business.
Mr.. King, of Eisele & King, says: I'VE
still believe that the positive side is the
only one of account. The high STANDARD
dividend paying issues are a purchase on
any reaction"
It Is expected that the prospectus Of
a 4 per cent. loan Of the city of Garoar,
South Africa. to the amount of E300. coo will
be issued this evening.
Post & Flagg say: There are many
who think that the recent advance is for
the purpose of distributing stocks. but
as yet there has been no evidence in this
direction. 1t looks as if the market would
hold Its own for the present. waiting for
further light on the autumn money situa-
ton"
Calumet and Hecla Mining Company re-
ports shows for the fiscal year ended
April 30, that the company produced min
-eral equal to 1929 tons refined copper,
against 1852 in the previous year The
price of copper varied from Is TO &c cents
a pound; the prevailing rate at prescott
is % cents. The general balance sheet
shows cash on hand, $6.477, 1870; decrease of
476.061. and the profits and loss surplus
Is S.02S,94S. a decrease of So. 1853. s37.
A report from Philadelphia says that
only one assessment of s. will be called
on the Philadelphia Rapid Transit this
year. The maximum assessment levied on
the stock is SIS.
The annual meeting of the Knickebocker
Ice Company was postponed until Au-
gust 8.
Telegraphic advices from oldf saw
that the miners In Goldheld voted to sus-
tain the constitution Of their union. which
only means unsettled conditions for the
next three or fpur days.
The argument on the order directing the
lnterbo Metropolitan to show cause
why suit should not be brought bv the
people of the State of New York to vacate
the company's charter, annul the merger
and enjoin the eompany's directors from
doing anything that will contribute to the
maintenance of a monopoly, has been adj
journed until Monday. July 20, at the re-
quest of counsel.