The evening star and Newark advertiser. [volume] (Newark, N.J.) 1907-1908, 1907-11-25

Withheld Until the disagreement with tue
American Railway Association is settled,
the New Haven is holding up about s25o.oOo
a month and the situation is becoming
acute. 1t Is said a compromise may be ar
ranged at thirty-five cents a day, which
would mean a saving to the road OF
81, 100000 a year.
The Journal of Commerce says that a
large number of Stock Exchange houses
will undergo changes in their personnel
between now and January l. and there is
likely to be an over-supply of seats 1or
sale.
Havana ankers will probably take from
I, 1000, 900 to 100000 of the 100000 loan
offered by Governor Magoon In the nop9
of relieving the planters.
Twenty active railroad stocks showed a
depreciation In value at one time last week
of s1.171, 641, $50 from the high average OF
the year made on January 5. The total
market at that time was $3,O44,44S,oeV.
Twelve Industrial issues show a loss OF
$575, 100, ZIG In their market value from me
high point of this year.
T.. A. Mcintyre e. Co. say: "As 1t is,
the standard stocks of the general railroad
list are still not far from the panic prices
OF q 10fLQlBnL dSo, anu thSiS 70
assurance on which statements can pc
based that we have yet seen the bottom.
T. s. Bache & Co. say: 1T can be
worked out of even this enlightenment II the
thinking people will assert themselves ana
guide the others. including the legisla-
TOYS, to sane and sensible action. The toe
Is turning against Socialism and Social
istic doctrines. and evidence is accumu-
"a 49, l. -~N~l- ava In ia Vnr of
conservative action hereafter in reference
to corporations
Henry Clews said: These are times of
great opportunity for the genuine investor;
since, while prices may touch a lower
level in case of further difficulties in the
money market. the decline will surely be
temporary in the better class Of stocks ana
bonds. Actual investments made on the
breaks hereafter can scarcely fail to prove
exceedingly profitable
Following Is the compilation of figures
by the New Jersey Commerce and Finance
showing the condition of the local financial
institutions for the week ending November
%: The combined statements of the Ma
tional Newark Banking Company. the Es-
sex County National Bank, the Merchants
National Bank, the North Ward National
Bank. the National State Bank and the
Union National Bank on November 20
show: Loans and discounts, $50, 263. 335. So;
deposits, Sc 524, 529.2 %: due to banks, $1,125,-
042. 45; cash and reserve, S7,D4,539.97, and
due from banks other than reserve agents,
So, 176, 6s2.8 so. The combined statements of
the City Trust Company. the Fidelity
Trust Company and the West Side Trust
Company, made November 20, show:
Loans, $40, 97S, S75. 81; investments, $13,664,-
1904 due from banks and cash, $1,343,-
67O.5s; due to banks, $1,915, 1867, and de-
posts. $685. 144.ss
Cable advices from Paris say that as
much as $40. 100000 may be released by the
Bank of France to meet our needs. This
would bring our total imports of gold well
above 500, 600. 900, and international bankers
in New York say that that figure might
we'll be reached before the movement
terminated.
This week will probably see the end Of
the drastic curtailment so far as the United
States Steel Corporation and its subsidiary
companies are concerned, and there is no
reason to doubt that the steel producers
will make every effort to maintain prices
Until the great mass of business on which
delivery has been postponed has been
worked off.
The main reason for the high exchange
on New York in Western cities is the
paralysis of the movement of agricultural
produce from the interior to New York.
Credit has been offered to the farmers in
terminal points in the West, but they in
sist on having the cash.
Corn prices for the trimester have re-
suited in 2 serious difference between Rus
sian exporters and German importers.
One Of the most remarkable features of
the present railroad situation is that two
ambitious ranscontinenta railway enter
prises are being carried to successful COM
pletion without interruption during the
period of disturbance. while the Great
Eastern systems are seeking to economize
ard limit expenditures in every way.
"As some misunderstanding appears to
exist to the Neill ere estimate said r.
hanover NELL. permit me to explain that
two distinct estimates nave been pub
lished. one by Messrs. Neiil Brothers, Lon
don. who estimates thee cotton crop at H.
10000 bales maximum, and NV own, which
ia II. 1896. Co.,
1t is estimated that the Chinese empire
has placed orders in the United States for
between 15,500,0 900 and fb,50O,OOO pounds OF
SOppSt drounu lz15 cents a pound, winch
must be delivered soon.
Foreign cables show that prices still re-
main low. and the high rate of dicount
maintained by the banks Of England,
France and Germany may be continued
for a short period. All in the financial
circles. however, feel that the American
situation has improved greatly and that
1t will not be long before the normal
money situation is predominating again.
New York bankers were successful bid
ders today in London In securing e645 900
gold in London, which arrived from South
Africa.
One CT the wild rumors In the Chicago
grain circles today is that Potter had
made a private sale to Armour Of 1000, 900
bushels Of pay oats In one lot. Ther Is
the best of authority for the statement
that there is not the least vestige OF truth
in the story
There has been very little doing in cur
rency today. The best borrowers would
give was IA TO liz per cent. and only
on very small amounts. This is certainly
a good sign that money is gradually
working to its normal condition.
Frank A.. Nandelys, ~vice-presldent of the