The evening star and Newark advertiser. [volume] (Newark, N.J.) 1907-1908, 1907-08-14

It is reported that inquiries have
been made looking to a shipment OF
gold direct from New York to Egypt
It is said thai a shipment may be made
this week. Egypt has recently been
taking much of our gold indirectly
through Europe, but so far as can be
learned no gold has ever been exported
directly from this country TO Egypt.
Although most of the acts com
planned of by stockholders against the
former management of the Delaware q
Hudson Company several of the direc-
tors are still members of the board
and it is possible that these charges
may be presented to the New York
Public Service Commission.
The recent decline in the price of bar
silver is said on authority to nave been
due to the condition in China exchange,
which made it necessary for that coun-
try to sell upward of 100000 ounces
of silver. This temporarily affected
the market for the metal.
There was another drop of $40 a share
in Standard OIL stock to 1921. This is a
decline of s143 from the high price of even
the present year, which means a shrink
age of about $143, 000,00 0 in market value Of
the stock. The loss this week has been
abont $40. 900. 600. As the par alu is only
S1DUtUUU,UU lit NOltt otttOh OAc fA thN
larger. The stock has sold as high as
$40 a share. and the depreciation In mar
ket from the high level to date Is about
S4l9, 000, 200. At its present rate of dividend
Standard Oil yields the man who bought
yesterday almost 10 per cent. on his invest
ment, compared with . per cent. a, year
or two ago.
New York city authorities deny that they
will increase the interest rate on bonds he
cause of the failure to sell the issue Of
fered Monday. The Comptroller's office
reports an ective inquiry privately for
the issue, and it is believed that the en-
tire offering will be sold eventually.
In lumber circles there is complaint that
railroad orders are falling off. The rail-
roads have consumed more than rs per
cent. of the lumber output in recent years.
The value of tho mineral output of the
lTransvaal for the year ending June 30 last
was $780, $780, S1, an increase Of e6,757.2 PSI.
Gold represented e26,6 4S, 452. silver eS7, 921,
diamonds e., 147,Os7. coai@e7s6, 361 and metal
e50,000.
The Central New England bondholders'
committee has issued a circular asking
for a deposit of bonds with the Pennsyl-
vania Company for assurances on Lives
and Granting Annuities, in order that the
bondholders may act together on the propo-
sltion made by the New York., New Haven
and Hartford Railroad Company.
Eascd on the low price reached during
this weeks smash In price the approxi-
mate value of the common stock OF the
United States Steel Corporation Is $i55, 000.-
900. The surplus of the corporation is $l0o,
COO, 600 and the treasury bonds subject TO
sale aggregate $40, 500, 600, a tota1 of S145,-
SeC. 900. or within less than $40. 0 100000 of the
market value of the common stock.
Pr, sident GuggenheIm, of the American
Smelling and Refining Company, said that
the report that the Amalgamated Copper
ind affiliated interests contemplate tile
control OF his company is absurd.
The Minneapolis Thfeehing Company, of
Minneapolis, has complained to the Inter-
state Commerce Commission of UNJUST
rates between Minneapolis and New York.
Twenty railroads are concerned in the
complaint.
An Indiana trial court has held that the
full train crew law is constitutional and
that the Indictment against the Pennsyl-
|vania must stand.
The Petroleum Review. of London, in
an article on the worlds production of
petroleum, says that in 1906 it amounted
to 25,1 40,0 900 tons, as compared with 26,SSS,00
tons in 1905. There was an increase in all
the countries except in American, which
fell off 100000 tons.
Statistics prepared by the wholesale shoe
companies of St. Louis show that the
trade of his year will average about 20
per cent, possibly more, over last years
business, or about $11,0OO,O 600.
Mr.. Cooper, of Malcolm G. Coombe, says:
IF the rumors of reassuring developments
in connection with the governments atti-
tude toward corporations are fulfilled the
recovery In the market may go further.
There is a rather large short interest.
which, in such an event. could be whipped
to cover. In our opinion, however, any
rally so brought about will prove only
temporary, and on it we think stocks
should be liquidated."
Reports in Union Pacific headquarters
and circles are that one of the results of
the Hartman trip over the system is to
arrange for immense iron and steel works
at Laramie, Wyo., where the company now
maintains immense steel works of a
limited production.
American Agricultural Chemical Com
pany reports for the year ended June 80
last net profits after reserve, improvements,
betterments and renewals of 50. 1852, $40, as
compared with 81, 744. 314 in previous year.
After paying dividends the surplus re-
manned of $4,0s1, Oo2, against $S,OSS,SO2 in
1906.
Post & Flagg say: "Unless we get some
radical change from the attitude of our
administration toward corporations, we are
bound to have lower prices again later.
but we hope that Mr.. Roosevelt and his
imitators will appreciate before long that
this policy of attacking everything and
everybody will not interfere alone with
Wall Street, but that we here in the
financial centre are merely a barometer of
general business conditions and that they
are by their actions bound to bring great
hardship to the country at large. This
is a certainty for Wall Street is now sim
ply ~discounting a large falling off in earn
ings, due to a decided curtailment Of bust
ness enterprise throughout the country
and this in its turn is sure to affect the
laboring man materially"
LEHIGH VALLEY REPORT APPROVED
PHILADELPHIA, Pa. Aug. 14-The di-
r~ectors of the Lehigh Valley Railroad
COMPANY. today. approved the annual re.
port Of the company foD the fiscal wear
ended Jnre 30. 1907. 1t shows the net in.
come. after all deductions, to have beer
&.024.953. an increase of $573, 1863 over tn,
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