The evening star and Newark advertiser. [volume] (Newark, N.J.) 1907-1908, 1907-08-19

/ ~ % T7T7l0fT-71 u =
last years increase WIS about 1890 over
that Of 1905. so these figures appear all the
more striking.
OF the 223. 100 cars now owned by the
Pennsylvania Railroad Company. 1.lA
are upon roads not operated by the COM
pany. to partially compensate for when
there are ON the Pennsylvania lines 5s.e2S
cars of other roads. The system is operat-
ing at present. Is, 264 more freight cars than
1t did a year ago.
Contracts have been let by the Southern
Pacific Company for the building OF an oil
pipe line $50 miles long from its oil prop
critics in Kern County. NCalifornia, TO a
point near Port Costa, on San Francisco
Bay. A novel feature of the line will be
the character of the pipe used.
Last week showed a general improvement
in the the crop situation for spring wneat.
No unfavorable reports of Importance nave
been received, but the weather has oeen
too cool for corn. and some complaints OF
slow growth and also of drought have
kept the market stronger.
Following is the compilation OF statistics
by New Jersey Commerce and FINANCE
showing the conditions of the local banking
institutions for the week ending August
II: The combined atemen or the Ma
tIonal 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 ii.
snow the following aggregate items: Loans
and discounts. $50. 404. 1888; bonds and IN
vestments. s.. 996. $780, 81; deposits, $3l,oSe,-
100. So; due to banks. 81, liz. S04.36; cash and
reserve, s7.019. 1896. 65. and due from banks
f1+F1- Than raaorxra # opanfSl 81 on 0G0L %
The combined statements of the Fidelity
Trust Company. the West Side Trust Com
pany and the City Trust Company. made
at the close of business under date of
Angus Il. show the following aggregate
Items: Loans, sos 47, PSI. Oh; investments,
s13, ia, 1871; due from banks and cash. ST.
593, 800. 81; due to banks, 1904, 290.9 SO, and
deposits, si4.a22.2lS.40.
In commenting upon the situation In the
local securities market. a broker said:
Local securities emaln absolutely in-
active with occasional small sales breaking
the dullness. The enormous drop in the
market value of high class standard divi-
paying issues on the New York Stock
Exchange was reflected upon our market
in n drop of a point TO two in some of our
best Securities. Conditions In the money
market remain stiff and the ~stringency
has extended far beyond all expectations.
Money Is tight all over the world and we
see any activity in local securities
for a long period and perhaps not until
after the next Presidential election"
Application has been made by the Erie
Railroad to the Public Service Commission
of New York to issue about $1,000, 900 car
trust certificates.
The Equitable Life Assurance Society
has been selling as fast as possible its
in compliance with the new
which requires insurance companies
to divest themselves Of outside stock with
In five years from July ]. 1907.
A special meeting of the stockholders
of the California Gas and Electric, Cor
poration. a subsidiary OF the Pacific Gas
and Electric Company. will be held in Oc-
tober to authorize an increase In the capt.
tai stock from SIS. 100000 to 3o.OO0.0O pre-
paratory to the making of a new bond
issue to provide the ~refunding and extern
sions
Formal announcement Is made that
holders of a majority of the voting trust
certificates for the preferred and common
stock of the International Mercantile
Marine Company have signified their de-
sire that the voting trust be extended for
a period of five years.
The Republic Iron and steel Company
and the Western Bar Iron Association
agreed at Pittsburg to the wage scale
gently approved by the Board of Con-
citation, after the manufacturers had
failed to reach an understanding with the
Amalgamated Association.
T. A.. Mcintyre 81 Co. say: 1--WE. low
ever. now feel we are passing through
about the worst Of the present financial
and political scare, and also about the
worst of any money ~stringency. We would,
therefore, rather advise against sacrificing
long stock in the present condition of the
market. At the same time, there are still
so many uncertainties ahead we do not
care to advise. purchases of wen the better
class of securities, except to those who
can nay for them outright and lock them
up and wait for the equilibrium of the
market to be restored"
j. s.. Bache & Co. say: 1.-THE showing of
bargains for investors is something un-
precedented. and those with means to take
advantage of 1t and courage to do so, re-
CARELESS of possible (but only possible)
further, very temporary, drops, in case
of business trouble, will reap in the long
run large reward 1t is harvest time,
especially for small investors. if he only
knew 1t, and he may with safety be ad-
vised to buy outright. carefully selected,
class securities. which will give
him returns far above savings bank In
terest and an eventual almost certain
marked increase in his capital
Henry Clews & Co. say: The outlook
for the market is still unsatisfactory.
Prices are very low. and there are plenty
of good stocks which are really very cheap
from the investors point of view. The
monetary situation, however, has not yet
fully righted itself, and further liquidation
seems more than probable. with interven-
ing rallies of more or less Importance.
Such being the case, 1t is inadvisable to
go too heavily into debt"
RAILROAD EARNINGS.
For second week in August:
Missouri Pacific 81 OO0 00 incraasa eco nnn