The evening star and Newark advertiser. [volume] (Newark, N.J.) 1907-1908, 1907-10-01
VIEWS AND NOTES
FOR INVESTORS.

Subscribers to Northern Pacific issue of
s95. 100000 Of new stock are required TO
make their fourth payment. amounting to
Sl1. 625.000 today. The next payment Of the
same sum fails due January ], 1909. There
has already been paid in on this issue
s2S. $50. 600 or % per cent. OF the total.
United States Treasurer Treat says that
in spite of all the efforts put forth by the
Treasury Department within the last few
months to establish a sufficient supply,
great difficulty is experienced in meeting
the demand for small bills.
The impression exists that the st. Paul
system made a big mistake when they
started to build their Pacific Coast extern
sions when labor and material were abb
normally high.
In 1901 the number Of railroad share
owners in the United States was SZ7 900
owners. and the number today is supposed
to be 450. 000.
All the buying in Wall Street this week
so far has been short covering, and that
30 per cent. of the trading in New York
is speculative. II is certainly true that no
important interests are either supporting
the market nor selling it. Hands off Is
their policy at present.
Today marks the end Of the era of
private refrigerator cars on the Hartman
railroads and the substitution of the com
panies' own equipment for this class of
traffic. ~Sixty-six hundred new refrigerator
cars of the late type had to be provided In
order to effect this change, involving an
outlay of about s11, 900. 900. More than 5000
of the new cars have been delivered to the
Southern Pacific. and will go into service
as rapidly as required.
Compared with the high prices of recent
years, Colorado Fuel and Iron is down 100
points, Metropolitan Railway. 242 points;
Third Avenue, 100 points; Consolidated
Gas, 1H points: Standard Oil, $50 points;
Calumet and Hecla, 400 points; Anaconda,
1853 points; General Electric, PA points;
Great Northern. 225 points, and Northern
Pacific, 10 points. Stocks down so to 70
points are too numerous TO mention.
Transactions in stock on the New York
Stock Exchange for the month Of Sep
TENDER aggregated 2,142, 239 shares, a de-
crease of 2.360.54 shares, as compared with
the previous week, and 1~S,979,344 shares, rs
compared with the corresponding month
last year. The heaviest days trading was
that of the 18th, and that OF the smallest
on the 25th, the transactions on the first
named date totaling COS, 022 shares. and on
the latter 2S2 ,O09 shares. For the Saturday
half holiday the largest dealings occurred
on the 2Sth, and the smallest on the 21st.
The feature Of the months bond dealings
was the heavy trading in New York City
41hs, in which the dealings began on the
18th. The total sale of all classes of bonds
amounted to $50, 415. 500. an increase of
$685. 900, as compared with the correspond
ing month last year.
Notwithstanding the cut in copper metal
prices from 26 TO Is cents a pound during
the past six months, and the fact that it
is now selling only a small percentage of
its available supply, the United states Sell
ing Metals Company has declared a dlvi-
dend for the third quarter of the year.
-
The striking feature of the stock market
yesterday was a jump of II points in
Canadian Pacific. After dropping to 157
early in the session the stock began to
go up by leaps and bounds. The dealing
amounted to about 5000 shares, a rela-
lively large total i'm Canadian Pacific. A
drive against the short interest was the
cause of the 7hpid rise. There has been,
1t is said. large short interest In this stock
for a long time. and 1t had been found
increasingly difficult to borrow the stock.
1t is announced that the New Haven
Railroad resigned from the American Rail
way Associa ton. having failed to reach
an agreement over the per diem rules re-
garding charges for the use of foreign
cars. The New Haven had given the Gus
tomary notice of its intention to take the
step several months ago, and since then
no compromise has seemed possible.
1t is learned that a committee of dis
satisfied stockholders of the Greene-Cana-
npN Conner COmnanV and fha dissenting
holders of the Greene Consolidated Cop
per Company are considering the advisa-
bility Of taking legal steps to inquire into
the settlement which Colonel William c.
Greene made with Thomas f. Cole and
John d.. Ryan prior 20 the formation of
the Greene-Cananea Copper Company.
The two-cent rate fare in the State of
Pennsylvania is effective, going into eff
feet at midnight last night. The Reading
Railway has already announced an adj
iustment of rates to meet the new con-
dltions. Until a final decision OF the Su-
preme Court is handed down there will be
some doubt as to the constitutionality of
the new law.
The worlds production of coal in 1906,
amounted to about 1,106. 47s,707 short tons,
of which the United States produced 414,-
1851, 27s tons.
interpretations filed i'm the Eastern States
during September involving $1,00O.00 100 and
over totaled $3.50 100, 900. which is 81, ) $4,000.
in excess of the previous month, but s91,-
10000 below the figures of September a
year ago.
With the exception of August the cur
rent record Is the smallest for any month
this year. The difficulty of marketing new
stock and also Of obtaining loans only at
exorbiant rates, together with the indus
trial condition. discouraged the promotion
of new enterprises. hence the continued
limited character of interpretations.
Mr.. King, of Eisele & King, said: "The
situation at present Is very much mixed.
therefore causing conservatism in all
transactions as the trend of the market is
uncertain. This, however, only applies to
the industrials and specialties, while, on
the other hand the good d~ividend-paying
standard railroad stocks can be bought to
good advantage"
Post & Flagg say: while the outlook is
certainly not very stimulating for any adj
vance IN prices the market would do we'll
enough il 1t could be freed from the ag-
gressive bear attacks. Possibly the jump
In Canadian Pacific may make them a lit
tie more cautious in other directions"
Miss Giles issued her usual conference.-the