The evening star and Newark advertiser. [volume] (Newark, N.J.) 1907-1908, 1907-08-01

AoAN
Cuba's Sugar Crop for 1sO6-O7 is about
in. and 1t is estimated that It will reach
1,425. 1000 long tons, against 1,1I9,Ooo last
wear.
Erie Railroad directors decided to lay
over the dividend declaration on the pre-
ferred stocks until more definite news
on the crop is received.
The banks have now reached the most
important period of the years money.
During the next three months the great
banks OF the East will be called upon TO
aid their Western correspondents in 1ur-
nishing funds with which TO move tine
crops. This always calls for careful finance
ing. but ats no time within the last decade
have the problems been more eompieN
than those today. August
always sees the beginning of this outward
currency movement. Because of the back
vsardness Of the crop season the acute
demand may come a week or two later
than usual. although 1t must be remem-
bered that we have now arrived at the
period when all money ordinarily works
higher.
It was announced officially that the
cast Line elephon Company, an indie
pendent affiliated with the Great Eastern
of New York. will complete its line be-
tween Perth Amboy and New Brunswick
August IL. and through connections with
Philadelphia.
A Wall Street authority estimates that
the dividend payments by leading corpora
lions this month will amount to S9.bOO,OOo
an increase over 1906 Of "a. 10000, and the
total disbursements for interests and dtNi-
dends for August amount to over 49,
S0e.0 Industrial dividends for the month
Will foot up in the aggregate S2O,Ooo.VW'
an increase of 100000,
E. H. Hartman is optimistic, despite the
fact that his issues had a severe decline at
a time when the news regarding their earn
ings and dividend prospects were favor
able. He says that the drop in prices on
the stock market is only temporary ana
prices will gradually improve, ana that the
general outlook is encouraging. Inc creott
conditions as they affect the corporations
are growing better. The demand for bonds
will come with a rush, as has always been
the case. and he further adds that there are
too many bond issues lying idle and unap-
sorbed.
The Cape May Real Estate Company has
recorded a mortgage for $3.500,00 on its
lands IN Cape May to the Colonial Trust
Company, of Pittsburg.
Transactions on the New York Stock Elk
change for the month of July aggregated
10, 1917, 73S shares, an increase of 3,063.2D
shares as compared with the previous
month, but a decrease of $500. 800 as COM
pared with the corresponding period last
year. Last months total was the smallest
of any July since 1900. The heaviest days
trading occurred on the 10th, when 9S3,6gI
shares changed hands, and the smallest on
the 18th, on which day 236.627 shares were
bought and sold. For Saturday half-holi-
day the heaviest sales were those of the
9Th, and the lightest those of the 9th, the
transactions on the first-named date aggre-
eating S7S,6i9 and on the latter 210, Ill shares.
The dealings in bonds Of all classes was
$25, 1884, 200, an increase Of s. ,6S2. 200 as COM
pared with the previous month, but q de-
crease of $14, S44. 900 as compared with the
corresponding period of last year. The
heaviest transactions occurred on the 9th,
when the total was 81, 1850. and the light
est on the 18th, when the sales amounted
to $734,50 90.
Tho reduction in party rates announced
by the Michigan Central and the Grand
Trunk railroads, it Is said, while unlikely
lead to serious disturbance in the pas
senger rate situation. has revived discus
sion regarding the right of the Michigan
Central to a differential on passenger busi-
ness between Chicago and New York.
Chicago Great Western Railroads. heads
are in London. and 1t Is said that they have
been consulting with the London finance
committee regarding the extensive financial
plan under consideration which will pro-
vide for the needs Of the road for the
next ten years.
American Car and Foundry's~ second
of its fiscal year ended yesterday,
and the estimated earnings were about as
good as in the last quarter, when the
company made such an excellent showing.
Large earnings are assured throughout the
year because of the large number of or
ders booked at the beginning of the fiscal
year.
s. w. Snow gives the condition of corn
as 1913, a decline Of over two points as
compared with July 1, and gives the coll
dition Of spring wheat at s2.1, a decline
of five points during July.
All grades of copper were again today
reduced one-fourth of a cent in both bid
and asked prices.
The receivers of Milliken Brothers are
paying the interest on 5000, 900 6 per cent.
bonds due today. The payment is being
made at the Standard Trust Company of
New York.
Price Current says: Rain interfering
with harvesting operations. Damage to
grain in shock not yet important. No
change from previous Indications concern
ing winter wheat or oats. Corn making
excellent progress.
American Smelling and Refining Com
pany's annual meeting will be held in
Jersey City on September 4. Books close
Auouaf IA rao1ap Contanohar <
Harris. Winthrop & Co. say: 1.-THE out
look now is for active money in the fall,
with occasional sharp advances in the
Wall Street call loan rate. The tendency
will be, however, to keep the call rate
relatively low, owing to the desire of
large lenders to employ most of their
funds in demand obligations instead of
tying them up for a specified period. This
was notably true In 1903, when call money
ruled easy during a considerable portion
of the period when high rates were OBJ
tanned for long-term advances. One Of the
foremos bankers, in Wall Street states
his belief, however, that no abnormal
stringency will be witnessed this year,
owing to the extensive preparations that
have been made to meet the demand.
There is excellent basis for such a pre-
diction in the recent history of the New
York money market, although it would
be idle to minimize the possible effect of
the combined demand that the banks of
the country face this year"