The evening star and Newark advertiser. [volume] (Newark, N.J.) 1907-1908, 1907-11-12
B BUSINESS AND FINANCE.
AND NOTES
FOR INVESTORS.

-
President Corey, of the United States
Steel Corporation, and his assistants are
inspecting the Tennessee Coal and Iron
property. which their corporation procured
last week.
Important changes in the management
are expected to be made at the annual
meeting of the Pullman Car Company III
Chicago tomorrow.
The Iron Trade Review estimates that
iron production In this country was 2,35e,9S2
tons in October. The highest previous
monthly production was 2.2s1 .09O tons in
May.
Insurance men or. at least. a great many
of them, are busy sending out circulars.
The insurance business is at its height
at present with the sending out of circulars
inviting people who are afraid to deposit
their savings in the banks or invest in
securities, calling their attention to the
benefits they can derive from insurance
policies.
An application for the appointment of a
receiver for the Consolidated Arizona
Smelling Company, a a7,500,O00 concern In
which several firms prominent in the finau-
cial district are interested, has been made
In the United States Circuit Court at Tren-
ton.
Important interests in the copper trade
confirmed the dispatches from London de-
nying the existence of Il 100, 100000 pound
copper pool, which it is stated had been
formed in London. The report evidently
grew out of the fact that when copper
was selling at 1917 cents a pound a large
buying movement set in from various parts
of Europe.
Post & Flagg say: THE after effect of
the storm is going to be felt in the great
difficulty which commercial houses will
experience in obtaining a continuation Of
the line of credit to which they have been
accustomed. as all of the banks of the
country have found it necessary to ma
terially curtail their credit allowances
and to strengthen their position to meet
the disturbance. This Is bound to pro-
duce a situation which will cause a good
deal of hardship and require a great deal
of caution for months to come"
A somewhat smaller business was re-
ported In currency today. some of the
larger dealers quoting the market nomi-
nal at ~ to 3s PEI cent. The demand
was less active than heretofore and offer
ings were more liberal.
IL IS OLlcldlly announced mat LOUIS
Stern has accepted the craftsmanship of
he, board of directors of the Lincoln
Trust Company. of New York city.
The preferred transfer books of the
American Thread Company will close No
vember 20 for the purpose of paying the
usual seni-annual dividend of 2k per
cent or January l, and will reopen
January 2.
AT a meeting of the directors of the Par
rott Silver and Copper Company today It
was decided to pass the quarterly dividend
of rs cents per share.
Bradstreet's weekly statement Of the
worlds available supplies of grain shows
the following changes, figured in bushels;
Wheat stocks available throughout the
world. decrease 795, 900; corn. United States
and Canada. decrease 131. 900; and oats, in
crease 1,O7s,0O
Large numbers of men are being laid
off daily by railroads and other corpora
lions.
Those who are in touch. with prominent
financial interests say that so far as they
have been able to learn nothing of first
Importance in the general situation is
likely to develop in the immediate future
in New York. It is generally agreed that
conditions are gradually improving. The
reports regarding affairs outside of New
York city are well in keeping with what
the best informed interests looked for.
AS to what extent corporations and other
concerns will be embarrassed by previous
money, and a falling off in general bust
noao ~ ana a nrodfrf axoonf IN Tho