The evening star and Newark advertiser. [volume] (Newark, N.J.) 1907-1908, 1907-12-27
AND FINANCE.
AND NOTES
FOR INVESTORS.

A deposit account with the >Knieker-
booker Trust Company of New York was
sold at auction at sixty cents on the dollar.
Last week an account sold for sixty-siS
cents on the dollar.
AS a result of the rate war between
New York and Chicago lines, the Denver
and Rio Grande has announced a rate
between those two cities via the Missouri
which is the lowest in years.
The Winnipeg Commission which has
been investigating a so-called beef COM
bine In the prairie provinces has submitted
its findings TO the effect that a trust
exists.
John w. Gates is preparing to extend his
oil operations to Mexico. He has sent
nation of the oil fields and TO get options
on oil lands with the view to their pur-
chase and development. Mr.. Gates's plans
include the building of pipe lines and the
erection of one or more large oil refineries
in Mexico.
Governor Glenn. of North Carolina has
replied to a letter from Edward L. An
drews, OF New York, representing the
holders of North Cardinals repudiated
special tax bonds, in which Andrews a
5000, 900 worth of the bonds will be given
to some foreign country to collect unless
the State provides for payment. He told
Andrews that the bonds are fraudulent
and will not be paid.
George ]. Gould said that, as he was the
largest stakeholder of the Missouri Pacific,
he will accept the dividend Just declared
by the road in stock. He says that COM
pany earned the dividend, but, owing to
scarcity of ready cash, they thought 1t
best to declare 1t in stock. AS there is
at present little demand for stock on the
market. the insiders will be pressed hard
in this declaration. Mr.. Gould is also optf-
mist'c on business conditions of the COM
papy.
A large shortage of supplies is reported
in the steel trade. Numerous mills in the
Pittsburg district will be in operation
within a week.
The New York central Railroad has APP
%proprieted s1,5OO,0OO for a new passenger
station in Rochester, N. Y.
President Starbuck. of the New York Air
Brake Company, admitted new financing
was possible. He said: I'VE are doing the
best business in our history and are away
behind on orders for work to be done. AT
the rate collections are being made 1t looks
as though it would be the middle of jan
uary before a great amount would be coll
lected. New financing depends largely on
these collections, but it may be hat some
of the banks to which money is due can
be more Justly treated by giving them Sc
curity of some kind shortly"
TroY, of3oKo1 ranorfy ,,a5o fer 4bo eooond
week for December the gross earnings of
forty-two railroads aggregated So 42, $50.
against s 6. 735.005 in 1906, a decrease of
$685., 175 OF 6.OS per cent.
An officer Of the National Biscuit Com
pany says that holiday business was the
largest in its history. The total for the
eleven months ending December 81 will
be the largest In the history of the COM
pany.
The diversity Of opinions about the stock
market at present differ very radically.
Some assuming a r~eactionary tone while
others believe that the short interest in the
market is sufficient enough to cause a
large rallv in prices.
New York brokerage firms brokers,
which la local branches, are growing
again over the money rates, even more
than usual. The renewal of rates at times
precipitate many harsh comments. The
whole trouble seems to be the varying
rates for call money. Some loans are made
at 20 per cent. and some at 80 on the same
day. The brokers lose a considerable bust
ness for this reason and at this time they
feel it more thar when business is plenti-
full. There ought to be some law enacted
to the constitution OF New York State
making a legal rate for call money to be
not more than 10 or 10 per cent. This
would take the incentive out of people who
only loan money when Rates are high and
keep the currency out of circulation when
1t is badly needed.
The sixty day notices issued by the New
York banks when the general public got
badly frightened over a few light tempo
rary close-ups in some banks, matured yes
terday. and the bank presidents expected
to see many long lines of people ready to
draw out their savings. All their expec-
tatlons came out to the contrary, as there
were no such long lines, and as a matter
of fact the deposits by far exceeded the
Withdrawals. 1t is also expected that much
money will be taken by the first of the
year, for many people max. investments IN
that period. By doing this they will lose
their six months interest, but the with
drawals will only amount to about 5 per
cent. Many bank presidents discount this
statement by saying a large number of de-
%positors have already cancelled their sixty
day notices and have changed their minds
about taking their money out.
NTxYFn~ryDe NDHr