The evening star and Newark advertiser. [volume] (Newark, N.J.) 1907-1908, 1907-08-16
AND NOTES
FOR INVESTORS.

Delay OF the panic IN the coHee hldihe''
which all financiers the world over CONSIDER
inevitable, is making traders nervous,
There is no sign of frost in Brazil yet, but
the condition is so desperate that one
prominent coffee merchant issued a letter
mentioning frost as one of the things tnat
would help the market.
With official notification lacking, a re-
port was heard that the Western Electric
Company was offering 100000 or 1o,0oO,OOO
pounds of copper at fifteen cents a pound
Frank A. Vanderlip, of the National CITY
Bank OF New York, was quoted by a news
agency as saying: ut is difficult to say
just now how far the present liquidation
will go. Political causes are the chief rea-
son for the present lack Of confidence.
The approaching outlook for money is, of
course. serious; but while this liquidation
continues there viii be so less call for
money by reason of deprecated values, and
strain on the market will be much less In
consequence
The General Electric Company has re-
Gently reduced the force at its schenectady
IN. " plant from 1900 TO 1850 men. 1t
is evident from these figures that electric
companies expect a falling off in business,
despite the fact that during the past six
months in all the leading electrical COM
panies of the country 1t has increased over
20 per cent.
An arrangement has been made by which
the Chicago Terminal Transfer Company
will be shared Jointly by the Baltimore
and Ohio and the Burlington, which is a
Morgan-Hill property. The preferred
stockholders of the terminal company have
received an offer from the Baltimore and
Ohio for their stock at SOS a share, and the
members of the committee have advised
all holders to accept. The Baltimore and
Ohio owns the bonds of the terminal prop
erty. and is anxious to secure an interest
In the stock.
A new stock exchange is being formed
In Pittsburg, to be known as the CONSOLE
dated Stock and Produce Exchange, taking
the charter of the exchange which had a
short existence in that city in 1900. 1t is
said that the member will chiefly COM
prise men from the ranks of the bucket
shop men who were forced out of bust
ness by the Mesta anti-bucket shop law
and from among the mining brokers.
The annual meeting of the stockholders
of the Canadian Pacific Railroad will be
held IN October ..
Local brokerage houses who are CORE
spondents for New York firms say the de-
mand for stocks from investors has shown
a decided Improvement this week. Their
purchases reduce the floating supply and
add money to the circulation and inspire
confidence. 1t is also a good sign that
prices will be higher within sixty days.
Dealers In copper do not deny that the
market is demoralized and that prices are
fictitious. Buyers are coming in only
when forced to do 50, and large buyers are
generally not in the market at all. There
10 a QonarQl if0nrnooion that x.rfna- ~
going lower and consumers are suffering
inconvenience for the sake of getting the
product at a lower price.
William M. WINS, counsel for the Public
Service Commission of New York, failed
to show, according to a statement made
by Mr.. WINS after the adjournment yes
terday, that the B. r. T. Is being used to
make money for a clique of Ian specu-
lators.
According to the figures given out by a
large coffee firm this years crop will be
about 100000 bags. including the guam
tity carried over.
Savings banks of New York city in
cerased their resources by $40. 764, 1852 n
their number of open accounts 32,519 dur
Ing the first half of 1907. In the same
period the amount due to depositors was
increased s24, o45. 1856.
The conference between the income bond
holders of the Central of Georgia Railway,
which was adjourned on Wednesday, con-
tinued to a late hour yesterday afternoon
without a definite result.
The report of the United States En-
veloDe Company for the year ending June
80 shows net earnings Of 1921 .9S7, an in
crease Of $50. 1852 and a surplus for the year
of S153.6 54.
1t is figured that the employees Of the
United States Steel Corporation own more
than 100. 900 shares. Of preferred stock. so
that so far they have suffered a paper loss,
owing to the depreciation in the market
value Of the issue. equal to about $1,000, 900.
The larger part of the proceeds Of the
SIS. 100000 note sale made in January by the
Lake Shore went into the bonds and stock
Of subsidiary companies to enable them to
continue their improvement work.
George w. Perkins. Of New York, is in
Chicago as advance guard for a party Of
steel trust men. who will arrive Saturday
for the inspection of the new steel city OF
Gary.
MIR. King. Of Eisele & King, says: ut Is
lust possible. however. that the stock mar
ket at present. and at perhaps at lower
levels. may present attractive features to
q larger class Of investors the world over,
particularly should some development
make it clear that needless or indiscrim-
mate prosecutions of corporations will not
follow In the wake of recent occurrences
and that a better understanding shall pre-
vail regarding Federal and State court de-
cisions. We. Furthermore. think that good
standard railroad stocks which net the in
vestors large returns can be bought on
further liuuidation."
Mr.. Cooper, OF Malcolm & Coombe, said
I'VE do not believe that the causes OF In
SLUMP in securities have been removed and
we do not expect improvement to be per-
manent. We think it likely that there will
be a renewal of liquidation on the adj
vance,
A telegram from Providence. r. T., to-
day SAYS that the American and British
manufacturing Company has taken a con-
tract to equip and complete the entire
electrical plant Of the Longhere Electric
Light and Power Company, of New York.
IL Is. expected that the amount involved
IN the contract Will approximate $40, 900, 900.
The committee on stock listing Of the
New York Stock Exchange admitted to the
list $50, 6l2, 800 additional Southern Pacific
preferred stock out of the total Of S36. OOO.-
~ which the company applied to have
President Whiteside, Of the Auis-ChaI-
mers Company, authorizes the statement
that all reports to tho effect that the con-
pany Is IN financial straits or In any WAY