The Washington times., 1907-02-17

The Ojibway, a new Michigan copper
flotatiou, will make its initial appear
ance on the New York curb within two
weeks. The property win be included
in the Ryan-Cole group.
Officials Of both the Tennessee Cop
per Company and the Utah Copper
Company say that efforts win be made
in the near future to list the stock OF
each company on the New York stock
exchange.
The statement was made yesterday
that Anaconda, based on the present
selling price of copper, is earning at
the rate of $l5OOO.O0O d year. IS, 100000 of
which 1t will pay to stockholders.
The consolidation of the New York
National Exchange Bank and the Irving
National Bank has created one Of the
strongest financial institutions in the
city The deposits aggregate Sl9, jS6, so,
and the total resources S24O3S, 700.
The fact that the Bank of England
does not reduce its rate Of discount, not
withstandng it's high percentage Of re-
serve to liabilities. is notable cOmpN-
ment to the United States. In 1907 as
In 1900 this country is in control Of the
exchange market. that Is to say, of
Three seats in the New York Cotton
Exchange We're sold last week The
prices paid Tor the memberships are
not definitely known. but il is said that
two brought $1,000 each and the other
$4,000 II these figures are correct, they
are the lowest prices at which cotton
exchange seats have been sold in about
two years.
IN February. 1905. the American Ship
building Company had contr lcts amount
ing 10 $1,000. 000-in February, 1907, the
total Is SlN,JOJoUJ. an increase % ~
per cent. Thus effectively IS summarized
the prosperity Of the shipbuilding trade
in the Great LaEes-fOr the same COM
pariS0n holds true of the other ship
building companies there only 10 a lesser
degree.
What is known as lower Wall Street
continues bulliSh on American Sugar.
Many others are buying il, but there
are indications that the bull account
may become SnVielcy- For this reason
the bears are watching the situation
closely and there may be something IN
the nature o. shakeout before long
The Coffee Exchange Of the city OF
New York VIII have completed on March
Z a quarter OF century Of activity in
the financial world and in order apD~O-
priatcly TO commemorate the event the
mana cement has proposed that the
members of the exchange should hold
a celebration OF some kind on that date.
When stocks are gong up James r.
Keene is credited with being a bull,
having bought all his stocks at the bot
tom. when the market is going down
he is classed as the leading bear, who
sold his stocks precisely at the top.
Just how this able gentleman IS said
70 be with the bulls. Mr.. keene never
says anything, but some OF the al
legged news printed regarding his al
legged movements must be more or less
amusing to him, If he has any sense Of
humOr
Considerably over ]. 900, 600 shares Of
the Cranky old stock. par value SO
have been turned in FOR exchange on
the basis of 10 TO ]. for the new GER
tifiCates Of S10O each. The company
has until the first Of July in which to
have issued 31.919 shares IF the n~v
stock mot exchanged at the lime Of
Change) listed in addition 10 .GS1
shares already placed on the hoard,
bringing the total outstanding number,
1876, 900 shares, for quotation.
The net earnings Of the Bell reIc-
phone Company, Of Philadelphia, for
the year 1906 Of S1,66S.6T4. were equal
10 1.3 per cent on the full 50 SIS. 433
stock outstanding at the end C. the
year. This is hardly a fair Nlcula-
ton. however, as the company in
creased its stock nearly $1,000, 900 dur
ing the year, and only portion Of this
STOCK mad time to become revenue pro-
ouclng. On the average capitai QUE
standlng during the year the company
earned 612 per cent while dividend
distribution called for 6 per cent