The evening star and Newark advertiser. [volume] (Newark, N.J.) 1907-1908, 1907-10-15

V0 . 49,
in that the cost of operation had in
creased so much that 1t more than used
up all the gain in Gross receipts.
The average price of twenty leading
railroad stocks is now SO, compared with
1879 when at the very top last year. Not
since 1908 had the average of these stocks
been so low as at present.
The London Statist says of United
States financial affairs: Nobody doubts
that the political outlook is better than 1t
has been for ten or twelve years. while
the check given to trade, both in the
United States AID in Germany. tends to
make money cheaper. and by and by viii
certainly supply funds to the Stock Elk
change, which will enable a better bust
ness to be carried on"
David B.. Carse has resigned from the
a 1visory committee of the United States
Steel Corporation.
A worlds record production was broken
by the Universal Mill of the Carnegie
Steel Company at South Sharon, Pa, Tor
twelve hours ending Saturday morning at
7 o'clock. The crew rolled TAI tons of
steel. against the best previous record OF
ZIG to.Is. made last April. On last Wednes-
day the April record was also broken,
when 426 tons were produced.
Further reductions are being made in
copper without any important sales TO
characterize the decline. Copper is on a
thirteen cent basis now, and still the CON-
sumers refuse to buy. There is nothing
official and nothing conclusive as to the
stability of the prices for metal at the
present time.
Chicago Union Traction attorneys say
that all the interests have agreed on the
new organization plan of allotment. New
bonds will be AZ per cent, and the control
of the committee will be with the bond
holders.
A report was circulated in financial
circles that the American Brass Company
purchased 100000 pounds Of copper, hay
ing paid 1917 cents a pound. The story is
emphatically denied by the company i'm
plicated.
On the New York Curb Market yester-
day some copper stocks took astonishing
jumps within a short period. United Cop
per rose the most conspicuously. and it
is of the impression hat the rise was engi-
neered by the movement against the shorts.
In the annual reports of several more
railroad companies which were issued yes
terday. the heads of the systems INDUCED
in pessimistic utterances concerning the in
creased cost Of labor and the adverse effect
of earnings as a result of rate legislation
in tle various States traAersed by the lines
of their roads.
An effort was made by one of the stock
holders of the Greene Gold Silver Company
to depose Colonel William c.. Greene from
the presidency of the company, but the
movement was defeated.
Presidents Ripley and Harahan, of the
Atchison and Illinois Central systems, re-
spectively, said in Chicago that the various
States through which the roads pass have
various laws which conflict so that what
is legal in one State is illegal in another,
and vice versa.
President McCrea, of the Pennsylvania,
when asked about plans for the expendi-
ture of improvements on the lines west of
Pittsburg Is quoted as saying: There is
no program for that for some time. In
vestors feel such a lack of confidence that
they appear unwilling to supply capital
for developing railroads or other Indus
tries"
Bank deposits in cotton mill districts
have doubled during the past six months,
due to the course taken by mill owners
In increasing wages of their employees.
It took exactly just two minutes to dis
pose of the business Mt the adjourned
meeting of the Reading Company yester-
day.
The Western Cement Company, of Louis
vile, which has been In existence for some
years will be dissolved on November I.
The company controlled about twenty sub
sidiary companies and practically monopo-
liked the manufacture OF hydraulic cement,
having mn agreement as to the price with
competing companies.
1t Is understood that efforts are being
made by the Moore-R Reid interests. who
control the American Can Company, look
ing to a renewal of the contract by which
the Can Trust will continue to supply the
California Fruit Gamers Association with
fruit and vegetable cans.
A small firm failure on the Consolidated
Stock Exchange has been announced. But
Ter & johnson is the name Of the firm anG
1t has been in business FOR four years.
The statement of foreign m at
the port of New York during the month of
September shows a decrease Of 1891 ,25S in
the value of free imports entered for con-
sumption, as compared with the CORE
spending month last year, while a like
comparison in the case of dutiable imports
shows a gain Of $685., 1873.
Mr.. Cooper has severed his connections
with the firm of Malcolm & Coombe, and
henceforth his New York connections will
be the finn of Ripley & Cooper, members
of the New York Consolidated Stock Elk
Change. Mr.. Cooper is a member of the
nrm and also a member of the exchange.
The offices previously occupied by tho
Malcolm & Coombe firm are retained by
the new firm. Edward II. Duffy has
also discontinued his services to the lat
ter firm and will hereafter be with the
new firm.
Mr.. Cooper, of Ripley & Cooper. SAINT
w cannot see any obstacle In view that
VIII give cause for any substantial rally
at this time. No doubt prices are very
inviting, but as we have already advised
our customers by adhering to a waiting
policy for investing purposes, and we
continue to predict lower prices. 1t Is
only a matter of time when prices will be
so low that the bulls will begin to rub
their eyes and wake up. Occasional rallies
may occur now and then on short covering
but that is only the time to SELL
During the morning hours large buying
orders in Union Pacific that were executed