The evening star and Newark advertiser. [volume] (Newark, N.J.) 1907-1908, 1907-10-18
BUSINESS AND FINANCE.
AND NOTES
FOR INVESTORS.

A published list of English railroad quo
tations shows that they w shrunk IN
vslue Just about as much this year as
have American railroad stocks. This is
good evidence that the liquidation OF Sc
c~urities has been worldwide.
Despite the fact that the Amalgamated
Copper Company directors cut the dividend
In half. which they had to do in order to
not strain themselves by paying the full
dividend of S per cent, the stock is still
paying s per cent. OF an investment OASIS
at its present price.
New York's building operations fell In
September over 20 per cent. while those
in Chicago increased 81 per cent. It looks
as If Wal Streets business had spread to
other parts of the city.
The London Stock Exchange has ordered
American Telephone and Telegraph Com
pany stock to the amount of 1,315,5 14 shares
to be placed on the official list.
A local broker representing a large New
York firm said that he had bought during
the last few weeks many blocks OF stock
for Investment. In lots ranging from ten to
100 shares apiece. Most of this stock has
been shipped to different parts of the State.
The 81. 900. 900 American Locomotive Com
pany 8 per cent. notes maturing October l
have been paid off through a New York
house. These notes are part of a S5,00V,OO
issue maturing in equal instruments from
October 1. 1907, to October !, 1911, inclusive
The deduction of the $1,00O,o0o notes leaves
The company with a working capital OF
$4,000. 900.
Officials of the Pennsylvania Steel Com
pany say they lave enough work on hand
to keep the mills in full operation Until
about the first of the year, but after that
there will be considerable slackcninS up.
The brokerage firm of Van Schaick &
Co, which has a branch office in Newark In
Broad street. celebrated it's flftieth -anni-
versary yesterday as a New York Stock
Exchange house.
At the annual meeting of the Northern
Pacific Railroad Company, the organiza-
ton OF which is maintained as a legal
forrlality, the member of the retiring
board of directors were reelected.
Wheat in Chicago during the past few
days has been huctuating in a most treach-
erous manner. The cause IF this is 'he
collapse in prices in Wall Street, which
hit some large wheat holders hard, and
they were forced to liquidate heir wheat
holdings in order to cover or protect their
stock holdings.
Amalgamated Copper Company gave out
n statement after Its meeting. saying that
the output Of the company and subsidiaries
was about 40 per cent. of its normal pro-
duction, and the physical condition of the
mines could not be better. 1t was further
set forth that the result from development
work of the last year has been most
sa satisfactory and that large stores of refined
copper are on land.
A suit has been begun against the In
diana State Railroad Commission by the
Lake Erie and Western Railroad Company
to test the power of the commission to en-.
force orders for changes where the profit
toN be derived by the p is not
equal to the expense of conducting BUSH
ness.
The State COMMISSIONS of Agriculture of
Texas has advised cotton producers to hold
on for Ii cents a pound. He gives figures
showing that foreign spinners are short on
cotton and that consumption is greater
than production.
Oscar G.. Murray. president of the Balti-
more and Ohio Railroad Company, in his
annual report to the stockholders, de-
votes considerable space to the subject Of
hostile railroad legislation, which he appre-
bends may cause serious changes in the
earning power of the transportation sys-
tens.
One indica ton of the number Of persons
dependent for incomes upon railroads is
afforded by a compilation of the holdings
of the Pennsylvania Railroad Company
stock oil the first of this month. The out
standing capital stock of the company on
that date was 1912, 061 800. divided into
6,21, 23s shares. These shares were held
by 1852 persons, the largest number of
stockholders in the history of the COM
pany. The average holding of each of these
persons was 126 shares.
Operators on some of the Western lines
are balloting on the question of a strike,
aid If the final count Is in the affirmative
the railroads thus implicated will be ready
to meet them in a most favorable condi-
ton to better themselves. They have in
stalled telephone systems all through
their lines and Will make a thorough test
of the practicality of moving trains by
telephone.