The evening star and Newark advertiser. [volume] (Newark, N.J.) 1907-1908, 1907-09-19
BUSINESS AND FINANCE.
AND NOTES
FOR INVESTORS,

FOR INVESTORS.
The untitled orders on the books OF
the United States Steel Corporation
amount to about 1000, 900 tons. as com
pared with 100000 ton on July l.
and 1896, 900 tons on October of 1906.
The report circulated about a year
ago by certain banking interests that
James J. Hill was seeking control OF
the Missouri. Kansas and Texas RAN
road is being revived, the story taking
the form this time that the Burlington
has secured a large interest in the
katy"
Although steamships have no tracks
to keep in repair, their operating ex-
penses run far ahead of the railroads.
In the last year the four great transat-
1antic companies showed the following
ratio of expenses to gross earnings:
International, 81 per cent; Cunard n
Hamburg American, each rs per cent
German Lloyd, IS per cent. the
Pennsylvania Railroad operating ex-
are around So per cent.
A large number OF overdue notes
been paid off within the last week
by the Allis-Chalmers Company, whose
bank balance in Chicago is now the
in a long period. Charles Ais
and e. D. Adams will shortly Withdraw
from the company.
The Iron Age this week says: There
is increasing interest in the pig iron
markets, particularly in the East.
Some of the large iron makers have
taken the lead in meeting the new con-
ditions, and have reached a basis upon
which business is, being done. This
is close to $1S.75 delivered for
basic pig and 500 delivered for No. 2
foundry. Steel continues scarce and
the rail mills. are booking nc business
of any consequence in the standard
rails. Copper has sold for export on
the basis of 1915 cents for electrolytic.
But little appears to have been done
by domestic buyers"
One of the most unsatisfactory features
of the financial situation is the congested
of the commercial paper market.
There is evidence of over-eXpansion on too
capital In certain mercantile lines.
The result is hat the banks are exact
ing higher rates.
Some speculative interests seem to be
looking for a sharp upward turn in the
New York Stock Market. but the more
conservative banking and railroad inter-
NoA6 AAhA hAai AA1
does not warrant such "A movement. Sew
eral prominent railroad officials from diff
ferent sections of the United States are
in New York, and from what they say IL
is easy to see that they do not regard the
situation as materially changed
for the better; on the contrary they APP
parently look for a continuance of ac-
tivity on the paHt of aspiring politicians
AID believe that the result will be a fur
Their disturbance of the position of the
railroads.
Malcom g. Coombe say: 1.-THE stock mar
ket during the past week has shown pro-
nouncod weakness in the industrial list
because of prospective falling off in bust
ness, and considerable resiliency in the
railroad list. We cannot say how far the
In the industrial list may go, or
how far the railroad list may decline in
sympathy. But the financial situation,
properly socalled, while not yet sound,
undoubtedly is beginning to right itself.
The next few months seem bound to be
a period of great uncertainty, but on the
declines, unless some unexpected element
the situation, we believe 1t will be
found profitable to buy good standard
railroad stocks"
Il ~ IOFAtStH - -
correspondent for a New York brokerage
firm. renewed operations in the a~uctioning
of securities in the rooms of the Real
Estate Exchange yesterday. IN auction
sale was held yesterday, but owing to Yom
Kippur, a very light day occurred as far
as selling securities was concerned. Mr..
will continue to hold these sales
every Wednesday, and from the present
condition Of securities these sales are apt
to be very successful. This is a new fea-
ture in earning commissions by a broker,
and Mr.. Moeller is the first one who has
undertaken this position. Some of the
largest New York firms hold auction sales
weekly, and it has been progressing there
for many years, and there Is no reason
why 1t should not be a success here.
Probably more individual and brokerage
have been crippled in the past nine
through depreciation in Northern
Pacific and Great Northern than from
losses in any other quarter in the stock
market. There Is considerable necessity,
it is said, for a definite rally in these
stocks to preserve the credit of hitherto
strong people.
The outstanding amount of government
As has been reduced to 81, $50 900, there hav-
been SIS, All 450 of the bonds redeemed
so far.
me action OF the New YORK central
in adopting a rule in the future
to close the books twenty days prior to
the date of payment of ,~divideneds illus
trates the fact that the Holding of stand
ard railway stocks has undergone a radical
change in the past few months.
The Westinghouse Electric and Manu-
featuring Company has arranged for the
sale to bankers in Paris of 100000 ten
year 8 per cent. collateral loan notes. The
notes are to be listed on the Pittsburg
Stock Exchange, however.
Contracts haze just been let for the cleo
IRRIGATION of the Southern Pacific lines
near San Francisco.
According to statistics compiled by the
Engineering and Mining Journal, the pro-
duction of electrolytic copper In the United
State during the first eight months of 1907
was 532, $50, 900 pounds. This was at the
rate of 19S. 900. 600 pounds for the year.
Traffic officials of the principal railroads
agreed at II meeting in Chicago that as
soon ms possible the present conflicting
classifcations of freight in various sections
must be consolidated. For more than a
score of years the shippers have been de-
handing a uniform classification, to avoid
confusion.
IEDCEV AAAnE chi nCuEC