The evening star and Newark advertiser. [volume] (Newark, N.J.) 1907-1908, 1907-08-27

Inter P5s.. 81 S. 20
Manhattan .............,. 146 10 Is
Metropolitan -. .......' ~ 81 meu
Third Avenue 3D.. ssh 65k "a
The trustees OF the Great Northern Ore
Certificates have declared a distribution
Of 81 a share. payable September Is. This
Is the first payment on these certificates
and represents one years prohts.
1t is reported that the Rothschilds, who
are associated with August Belmont & Co.,
have been large buyers recently OF Inter
Observation-Disclosures On the scale down.
which would account for the large amounts
of bills Of exchange 1t is said Belmont
& Co.. have been selling.
The prices of the leading issues of short
term notes have weakened during the
past few weeks. OF the ten most prom'-
nent issues the average price on the basis
Of Saturdays quotations was 96, a net
decline'of : points from the price at which
the same issues had been brought out
earlier in the year.
Consumers figure that stocks of copper
are accommodating at the rate of nearly
2.000.0O0 pounds a day. and that stocks on
hand now aggregate between 1oo,0o0.0Oo and
$50. 900. 900 pounds.
----
There is a feeling in Wall Street that the
district attorney should take some notice OF
the malicious rumors that have been circu-
lated In the last three days concerning the
financial standing OF leading capitalists and
corporations. Wall Street men say that
these stories are circulated SO boldly that 1t
should not be difficult to trace them to
their source.
The American'lLight and Traction Com
pany has issued a circular to stockholders
offering for subscription 6 per cent. col
lateral trust notes to the amount of $780,
900, payable after two, three or five years
from date.
The prevailing dulness in the Southern
pig-iron market was eliminated in a drop
of 81 a ton in prices.
st. Paul will be running freight and pas
senger trains into Butte. Mont, In May,
1908. In October. 1909. It expects TO be in
Seattle. The moment 1t gets into Butte it
will nave all the copper business OF Butte
ores. coal. coke and freight will go to st.
Paul. That will relieve the Hill lines and
allow them to be put in shape for business.
The Pennsylvania Bankers Association
will hold its annual convention in Pitts
burg on September and 6.
T. A. Mcintyre & Co. say: Our position
remains the same as expressed in our re-
cent advices and market letters. We think
we are passing through about the worst of
the present scare over the financial and
political situation and also the s~tringency
in the money markets
1t is expected that the total business OF
the General Electric Company in the
current fiscal year will run close to $70,-
1000, thereby establishing a new high
record.
In striking contrast to the prevailing
tone of the financial district is the note
of cheerfulness which runs through near
ly every report from the West and Middle
West. One who predicts hard times and
general business depression throughout the
United States has but to talk to the null
titude OF merchants and their agents who
| are in New York for their fall purchases
| to learn their belief that the country is
basically sound and in shape to weather
a much more severe storm than seems to
threaten now.
Adolph H.. Hertz. member of the Gold
field Stock and Exchange Board. of Gold
field, New. is In New York. Mr.. Hertz Is
making an extended trip through the East
in connection with matters for the devel-
opment of the Goldheld board.
-
Bradstreet's reports the worlds avail
able supplies of grain for the week with
comparisons, figures in bushels: Wheat
! stocks east of the Rockies Increased p
998. 900. Canada decreased $4,000; total
United States and Canada increase, 1905
coo; afoat for and in Europe decrease q
900, 900; total American and Europe de-
crease. $4,000. Corn stocks decrease, S24,-
900; oats increase. $4,000.
-
AT the office of the Baltimore and Ohio
Railroad Company 1t Is positively denied
that President Murray has the slightest
idea OF ~resigning his position now. or in
the future, as reported. 1t IS beheved tnat
the story originated with those unfavor-
able to Murray.
The Calumet and Arizona Mining Com
pany declared regular quarterly dividend
of S per share, payable September q, to
stockholders of record September O. II Is
estimated that nearly 100000 of this dis
bursement will remain in the copper
country.
MIR. Cooper. OF Malcolm & coombs, said;
There is nothing in the financial situation
to change stock market conditions mate
rally. We think that a narrow traders
market has developed for the present and
taking turns either way is advisable"
Post & Flagg say: we nave saie
often before, we cannot have any bull
market under existing conditions. but We
sincerely hope that this great liquidation
has about burnt itself out
Wars between nations are costly anairs
and so are wars made on market prices
In the last thirty days the quotations OF
active and inactiys stocks have fallen q
an extent rep eaanting $S.O0O.000,oO0. TIT
comforting feeling, however, is that thi
| does not renresfnf values.