The evening star and Newark advertiser. [volume] (Newark, N.J.) 1907-1908, 1907-08-21
AND NOTES
FOR INVESTORS.


American Tobacco yesterday fell. on
the curb. 20 points. to the lowest price
on record in many years. It sold at
2o1. A year ago 1t was selling at $40.
Late estimates of iron ore shipments
from the lake district for the current
year are $4,000 tons against S9.2So,0oo
tons last year. n 100000 tons ten
years ago.
Syndicate participators in the Nor
folk n Western Railway 4 per cent.
convertible bonds ave been notined
to make final payment on August 80
The foreign situation continues to
excite interest and bankers regard
Europe as most likely to be the CEN
tire of Important developments In the
monetary world. There is also much
discussion as to the possible van
in the minimum rate of discount by
the Bank of England and that of Inn
perial Bank of Germany.
According to producers of copper. the
supplies In consumers hands are lower
than they have been In years. One pro-
Queer said that even the coppe in form OF
scrap had been practically consumed, and
that manufacturers could not stay out OF
the narket two weeks longer.
The general decline in the price OF stocks
naturally created a good deal of comment.
In seventeen Industrial stocks dealt In on
the New York Outside Market the De
pi ecistion In market value from their hls
price in 1906 as compared with the last
of this week is about $4io,0oO.OO.
Stockholders of the Colorado Southern.
New Orleans and Pacific have ratified a
long term lease of the property TO the
Frisco, which practically deprives the line
of corporate identity.
Railroads are breaking all sorts of rec
ords these days. including those for gross
earnings and the market value of stock.
Mr.. King, of Eisele & King, says: 1.-THE
financial situation both politically and
monetarily, Is far from being clear, and
on all sharp breaks the high class divi-
dend paying standard stocks are a very
good purchase for a turn"
Post & Flagg says: IF the market con-
tirues strong for a, day or two we would
sell, as we are not ont of The woods and
it will take a long while for us to clear
away the debris and wreckage which has
been created in the past ten months"
The executive committee of the Erie
IAdllIOdu 1OuiPuHJ cru q = hCCbAAe
day, but no action was taken on the divi-
lend question. In all probability this mat
ter will come up for final action at the
meeting of the full board Of directors,
which is scheduled to be held one week
from today. Recently a report was put in
circulation that the directors were consid-
ering the issuing of scrip in lieu of the reg
ular dividends on the first and second pre-
ferred stocks. 1t is understood that OBJ
~stacles a been encountered which make
the taking of such action improbable II not
impossible.
Bradstreet's weekly statement of the
worlds available supplies of grain. figured
In bushels, is as follows: Wheat stocks east
of the Rockies, increase, 2,476,000; Canada
decrease, 1,794, 600; total U. s. and Canada
$4,000. Afoa for and in Europe,
600; total available increase, $4,000. Corn
in United States and Canada, de-
crease, 1,41S,000. Oats, increase, $4,000.
Highly speculative interests, most of
have operated on the short side for
time, endeavored to IVA the i'm
preston this morning that the Presidents
speech was the most unfavorable docu-
ment of It's kind that has come to hand
thus far. When questioned closely as 10
the features of the speech which they re-
gard as most alarming 1t was easy to see
that they had not read 1t carefully. and
In, some instances had only glanced at
the headlines. Conservative and prominent
banking and railroad interests were prac-
tically unanimous in the opinion this morn
ing that the speech should be regarded
favorably, and they were willing to go
on record as expressing the opinion that
would go further toward restoring con-
f1dence and bringing about settled condi-
tions in financial circles than anything
that has come to hand for some months.
They believe that the effect abroad will
be equally as good as on this side.