The evening star and Newark advertiser. [volume] (Newark, N.J.) 1907-1908, 1907-12-05
Jews AND NOTES
FOR INVESTORS.

The report thai President Murray ana
representative Of the Goulds made a deal
bv which the Baltimore and Ohio would
take over the little Kanawha syndicate
uaa officially denied.
James ]. Hill was about fifteen minutes
In wall Street before he left for the West
Yesterday. The persistent rumor that he
was going to merge the Chicago, Burling-
ter and Quincy into the Great Northern
system was refused 20 be discussed by MI.
Hill. His presence, however, caused much
strength IN his stocks and 2 general rise
in the market.
Judge Grosscup. of Chicago, has hastenen
the reorganization of Union Traet'on
romnanv. entering an order TO turn over
nil properties to the Chicago Railways
Company to be put in one lot for Auction
sale.
Application has been made to the New
York stock exchange TO list S1s.00e.oo0 5 per
cent. convertible debenture bonds. due 1917,
of the General Electric Company.
President Kingsley. of the New York Life
Insurance Company. who recently returned
from a visit to Oklahoma. is enthusiastic
about the future of that country. "The OLD
Indian Territory is amazingly rich In nat
ural resources. and its people are enjoying
a high degree OF prosperity. says ne.
THE wonder is thar the possibilities OF
that section were permitted to lie dormant
all these years
The commercial paper market is Inn |
proving aud within the last few days has
furnished indications of returning TO nor
NAL conditions. For about a week inquiries
from out-of-town banks have been coming
-. - ,~a,-;onc1, haau puf nf fbo
market for thirty days or more, signifying
their intention of buying paper in small
amounts.
Barring & Co.. of New York. the Ameri-
can CONSERVATIVES of Barring Brothers
& Co., Of London aud Liverpool, and the
New York representatives of Kidder, Pea
body & Co., of Boston, will dissolveS part
nership on January ],
A number of the New York savings
banks Gre beginning to cancel their sixty
day notices and are paying out their cash.
Banks throughout the country. and, es-
pecially noticeable in Newark, are begin
ming to pay out their payments III cash
and checks are used only When necessary.
The cash basis is, therefore, getting grad
ually back to its normal position.
According to the tickers James r. Keene
has caused the smashes and rallies in
Wall Street. during the past week. lie
must be the most surprised man in the
world from the miracles he has accom-
plished without his knowledge.
Plttsburg breweries are planting a COM
blnation with a capital stock of $25, 0JO,00
All OF the Western banks are the largest
hoarders of the country. The farmers in
that section Of the country will not let
loose of their crops unless they are paid
in cash. AS cash is rather scarce to meet
such large amounts the banks should be
rather liberal in distributing the currency
so that the farmers can move themselves
but they lust act to the contrary. The
average reserve banks in the West hold is
up as high as 20 per cent, when only
about % per cent. is needed to meet the
lawful exigencies. The call of the Comp
troller Al Washington yesterday will dis
close the strong positions held by these
Western financial institutions. which have
helped so much to cause the tightness Of
money. These same Institutions were THO
ones who cried so mucn that the publif
was the one who iloaFded the poeey.
At a meeting of the directors-1tHt2s c.
cago and Alton Railroad Conip&%tA
dore p. Shonts, president OF thc CfN&An
Leaf road, was elected president to sue
coed S. M. FELTON,. The Chicago and Alton
was recently acquired by the Clover Leaf.
and as Mr. Shonts is president of the latter
road he will occupy the same position on
the Chicago and Alton.
Although there Is almost a total absence
of business in refined copper IN both the
domestic and foreign markets. there Is an
occasional squirt of speculative activity.
such as took place in standard warrants al
London this week, which business is facili-
tated by the larger number of warraptss
now available.
Over a score of prominent exporters OF
New York met yesterday at the managers
room in the New York Produce Exchange
building and organized the American EA-
porters and Importers Association for the
promotion Of trade and commercial inter-
ests and the solution of business problems
generally.
Post & Flagg says; agricultural cora.
ditions have been excellent for n numbt
Of years, and this is the basis on whie
people argue for the prompt rebuilding {
a better general situation. Ii will taxi
some time, however. and that, with Il
advance in the stock market, is chiefly d.
to the technical oversold condition.
Judge Hunt, Of the Federal Court.
Helena, Mont, has enjoined the Gre
Northern Railroad Company from collec
ing the excess over the old rate or Il ne
lumber rate, which went into effect Nd
vember ].
The Calumet and Arizona Company solo
some copper last week at 1885 cents &
pound.
interests which are not opposing the a6
vance in the market say that they do no
I = 80 .kkaA ~ "a r2A n ~ DrrR ~ 1nno It'll.
is being bought. on the theory that tht1
marketHs going much higher in the neat
future, but that the holders of short con
| tracts pretty generally have become fright 1
ened and are closing out their commit
ments. The statement is made in manst
circles that the short interest in the mosI1
active securities was much larger when
the market turned than the street, as a
| whole, had any knowledge of, prior to the
| severe declines that were recorded during
| Nnvamhar