The evening star and Newark advertiser. [volume] (Newark, N.J.) 1907-1908, 1907-07-25

buy with.
1t is now Just one year since Hartman
made his great coup In Union and South
ern Pacific by declaring an initial dividend
of 10 per cent. On one and 5 per cent. on
the other. Both stocks jumped to their
record and 1t Is known that last autumn
when they were at their highest, Harm
and other interests identified with
him sold Union. Remembering the terrific
drive of this stock last March traders are
wondering if Southern Pacific's expected
increase in dividend now is another trap
to catch them and to permit OIL
party, Harriman's hackers, to make a kill
ing.
Redemption of the matured 4 per cent.
bonds in the sub-treasury in New York
has crossed the ten million dollar mark.
New York Mir Brake stock. which has
been paying s per cent. annually for a
number Of years. sold down as low as 9S
in the March panic and was as high as 10
In 1902. By inside manipulation it rose from
lis to rs in two days transactions. the
talk is that there is some deal In contem-
plation to sell control of the property at
$50. The Westinghouse Manufacturing and
Electric Company has been trying to merge
with this company.
Despite the efforts OF the boomers to get
the public into the stock market the re-
Spouse Is anything but satisfactory. The
commission houses declare they are not do
Ing business to any extent. AS a fair ex-
ample of what the public thinks of the
present methods OF stock manipulation in
Wall Street, there was a sale of a seat on
the New York Stock Exchange at a decline
OF $500 over the last previous sale.
All activity and strength displayed upon
the New York curb market for the last
week has been in the low-priced mining
shares.
Advices from the steel district around
Sharon, Pa. tell of a plan for concentrating
the scattered plants of the Steel Corpora
tfon turning out the same class of products.
The carrying out of such a ~far-reaching
plan would of necessity require a long
time, and 1t would make possible consider
able economies in operation, which would
cut many high-salaried men from the pay
rolls.
Nothing but routine business was tran
sacted at the Erie directors meeting.
European critics are constantly complain
ing of our financial system, arguing the
question of currency readjustment in this
country. But with all of the defects of our
financial system. no country stood more
magni1cently the pressure of the world
wide strain upon the money markets than
the United States.
interests Of the Standard Oil Company
are as confident of coming out victorious
in the litigation against the CORPORATION
as they were when the first suit was
I. is said that all the suits
decided against them will be appealed to
the higher courts.
This Wabash Railroad has filed a trust
deed covering the issue of $40, 900, 900 bonds
announced some time ago. All property
of the company in Michigan, Ohio,
Indiana. Illinois, Iowa amid Missouri fig
ures as security.
Reports to the effect that the National
Biscuit Company may nave an important
competitor have been verified. Steps have
beer taken TO promote an independent
cracker manufacturing concern with a
capitalization of not less thai $25, 000, 900.
The interests back of the project are
Eastern capitalists. some of whom were
formerly connected with the National.
Directors of the United States Steel
Corporation will meet next Tuesday,
when the report for the, quarter will be
read. This is expected to show earnings
approximating $43. 900, 900, the largest in
the history of the organization.
Mr.. Cooper, of Malcolm & Coombe. said
today To-day the directors of the South
ern Pacific board will meet and the con-
sensus Of opinion is that 1t will be placed
on a 6 per cent. basis. The earnings could
easily warrant it. We are bullish on the
stock market az a whole, and think 1t will
gradually broader with a natural reac-
ton now and then. only to be followed up
by conservative buying"
Post & Flagg say: w would not be
surprised to see the market broaden out
and become more active with the Harri-
man stocks as leaders"
At the regular monthly meeting of the
Wells Fargo Express Company held to-
day an official of the company said that
only routine usine was transacted.
Edward Fl, Hartman today stated that
he was contemplating an extended trip to
the Pacific Coast within a short time. He
said that he had not fixed upon the date
of his departure. Mr.. Hartman intimated
that ELM action would be taken upon
the Southern Pacific quarterly dividends
at the adjourned meeting pext Thursday.
w = ShC IL Dt WOuiQ soy AAo thN
rate. Of dividend would be Mr.. Hartman
said l prefer to make no predictions. He
added, however. that In no event would
the dividend be more than 6 per cent.
A good deal of nervousness was displayed
by the trading element on the New York
Stock Exchange floor today because OF
the Southern Pacific directors meeting.
1t is understood that the directors OF
the Essex r. r. Co. will act on the divi-
dend question. about the middle of next
week, and there is excellent authority for
the statement that the regular seml-an-
nual rate of 2 per cent. on both OF the
first and second preferred stock will be
declared. No action was taken yesterday
because the complete figures Of the opera
tons for the las. fiscal year were not on
hand. The data on hand already shows
a very comfortable margin for the COM
mon stock.
NEW CORPORATIONS.
The World instruction and Amusement
Company had its articles of incorporation
recorded in the County Clerks office to-
49, - -