The evening star and Newark advertiser. [volume] (Newark, N.J.) 1907-1908, 1907-07-15
AND NOTES
FOR INVESTORS.

Directors of the Minneapolis, st. Peui
and Sault Ste. Marie Railroad Company
nave voted to increase the capital stoeh
of the company from $21,00O,00 to S4z,oVo,a
Oo0. one-third of the increase OF $hooo,so
to be preferred stock and the remainder
common stock.
T.. A. Mcintyre & Co. say: THE best
that can be expected is a continuance OF
a narrow traders market for moderate
turns. and we think the tendency oil
prices more likely to work lower for the
time being than otherwise"
Following is the compilation Of figures
by the New Jersey Commerce and Finance
showing the condition of the local oank-
ing institutions for the week ending july
10: The combined statements of the NO
tional Newark Banking Company, the
Essex County National Bank, the North
Ward National Bank. the Union National
Bank and the National State Bunk, maze
at close of business under date of July 10,
show the following aggregate items;
Loans and discounts, $50, 10. 1890; bonds
inc investments. So, 161, s42. So; deposits,
s31, $50, 049. GO; due to banks, $1,012.05O.5l;
cash and reserve. s7,s77.225.54, and due
from banks (other than reserve agents.,
So, 4S3, 161.19 The combined statements OF
the Fidelity Trust Company, the West
Side Trust Company and the City Trust
Company. made at close of business under
date of July 10. how the following aggre-
gate items: Loans. $40, ss9, $685.; invest
ments, s14,175. s94.30; due from banks and
cash, 81. $685. 51. 80: due to banks, $2,215.-
90S. Sc, and deposits. $14, S14,6 22.S2.
output of the Lake Superior mines
for the first six months of 1907 may be
closely Appropriated at 119, 956, 9S1 pounds,
an increase of $4,000 pounds. or sc per
cent. over the corresponding period of
1906.
Exactly 81 municipalities sold bonds
last month. the total calling for $21,524,lS.
The banks have returned to the treasury
the s30.00O.Wo government money without
a hitch anywhere. Government deposits
now held by banks aggregate $l4l,0U,0Oo.
Since JULY l the treasury has paid out in
redemption of short As ST.. 5oO,00 and has
paid out for current expenses S,5o0,W0
more h 1t has received, making a total
outgo from the treasury of $27.000,000, to
offset the $50. 600. COO withdrawn from cir
culation. There are still outstanding
about SIS, 900 900 of the short As. which the
government is redeeming as fast as pre-
sented. while the excess of e penses over
receipts will continue during the balance
of the month. reaching. it is estimated,
full $50, 10000 for July.
Utility corporations of Milwaukee have
increased their capital to a total of $685.
900, 900 to evade the new stock watering
law passed by the Wisconsin Legislature.
There has been a better demand for the
various bond issues, but 1t Is slight in
comparison with the volume of business
done during corresr onding periods in the
past. The bids are rather low, and despite
all this there is no pressure on the mar
ket. The Investors seem satlsfed with
what they have and take their dividend
rate annually. The gas and electric and
traction issues are about the only special
ties in the local market at present. The
local money market remains as tight as
ever, all loans being at the rate Of 6 per
cent.
Mr.. King, of Eisele & King, says: The
stock market conditions are clearing there
Is no doubt. and the calm way In which
the most depressing features are met is
very good evidence that the worst has
been encountered SO far as securities are
conc erned, barring always the dangers If
the falls monetary situation. The market
car be bought on all reactions for a turn,
and for a short lime to come you will see
a tendency upward"
1t is announced that the roads are
greatly aided in the efforts made to avoid
delays by the fact that large additions to
rolling stock. contracted for last year, are
now being delivered.
1t looks as If Stuyvesant Fish, who was
ousted from the presidency of the Illinois
Central by E. H. Hartman, may make
trouble for him at the next meeting of
the road in New York on Wednesday. He
has asked Governor Dineen of Illinois to
attend the meeting with him. The Gov
ernor is ex-of1cio a member OF the board,
and a been Informed tina his services
and his vote will be important TO the
directors who oppose the efforts of Mr..
Harmon to secure the control of the
road.