The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1907-08-25

under IbaI price. II would take very
6ttle buying TO absorb all the small
under 10 cents. The lake produoeI.Ss,
continue 10 quote a nominal price OF y
cents for lake copper.
Merchants from all over the United
States are hoeKing to New York TO ouy
their fall goods. They seem 10 antlcls,
pate no serious recession in trade ana
are buying freely.
President Stevens. Of the Chesapeake
ard Ohio, says that the double-tracEins
OF the line between Richmond and New
port News has been uninterrupted and
Will probably be completed By Septem-
Der, rnus giving thirty-hve miles OF
double track out of seventy-flve niles
of the Peninsula division. Renewal OF
other similar work viii not be eonsid-
cred until after the directors meeting
on September s.
Anis-C Chalmers Company will soon
issue a call for the tenth and last pay
ment Of 10 per cent a the bond issue
OF SlS,oo9.oo0 created lass year
The fact remains true, that Wall
Street has endured a shrinksge in values
Tar exceeding that of any panic on rec
ures thus far.
It is said that the commission houses
in the Wall Street district are carrying
probably 500. 0O0O00 less stocks for Gus
toners than was the case a year ago.
u is asserted that five firms alone now
were carrying for customers Sl00, Geo. 600
less stocks than twelve months ago
Brokerage houses are sold out as
general thing. Customers ditto.
The annual report OF the American
Locomotive Company for the wear
ended June 90 last. will be made public
about September !. II viii show results
comparing faYorably with those for the
year ended June 81, 1906. during which
Is-i per cent was earned on the common
stock and 81 per cent was available
for dividends on the common after ali
deductions.
France as an investing country has q
much larger interest in American Sc
curities than ever before. and for this
reason the course OF our markets fs
more directly interesting % all European
Hdtons than heretofore. For three or
Iour years the French investor has been
looking 10 this country for bargains an5
IaTge amount Of securities in the az
sIegate mas been purchased for French
account
The stocks OF the nm lines show .
depreciation in market value during TIE
past year OF more than half A billion
oollaTs. Ihere has bSsfa 10 more spec-
tdeuiar development In the Ouofaftons
OF leduing railroad issues than the d.
cline IN the Hill stocks.
When the bargain hunter comes into
the rnarzet Wall Street begins To n,icE
up its ears and look pleasant why
tnls specimen o. investor should know
just when prices are scrapinp the hot
tom never has been determined. hut his
appearance always is hailed with de
nsnL Many thousands OF Shares in sod,s
lots-lO0 ana undeT-have been sold ~
ne last few days to persons who have
taken thanl out OF the market aud bur
them.
Louisville and Nashville bids fair 10
hold a unique position this year among
southern roads. II not only reDorts An
increase IN net earnings for the wear.
but TIE Increase IS more than SUFFICIENT
10 cover the Increase in fixed Charges
so tnat the road on the face OF the in
come account, At least, earned more on
It's stock il the twelve months tn June
- than IN the previous fiscal wear. The
income account shows 1918 per cent on
TIE stock. as compared with 1888 per
cent the year before.
Amalgamated is said to be the only
dividend-paying copper stock that can
be figured today as competent to con
tinue its present rate of dividends. with
copper at Is cents.
The return of SIr. Morgan calls 10
mind the fact that before very long
Fv,e -
separate the coal railroads from their
coal properties. There Is in most quar-
tiers an inclination to look TO Mr. Nor
gan for initiative in this matter.
The head Of a very large stock ex-
change house says: ct would amaze
the Street to know the present finan-
clal staaplng OF men who have been
rated as millionaires. They have not
only been hurt; they have been wiped
out The little spectators disappeared
months ago. Lately we have had uotIl-
ing 70 do hut to sell out the accounts
Of men of reDuted great wealth who
were unable TO protect their securities
any further"
One Of the most interesting things OF
the past week in steel is the informa-
ton that & meeting of the makers ana
consumers Of steel rails has been called
and that il viii sit during the first FEW
oSys OF september This is a mater
or vital importance TO the steel inter-
eSts of PittsburS, as on the decision Of
this conference will likely depend the
future Of ran making in the Pittsburg
district.
a Wall Street broker down the Jer-
sey coast. accustomed TO the patronage
of the rich traders. says the only bust
ness that he is now doing Is for ser
wants, ccacnnen. and buffers who
bring IN their savings and buy odd lots.
The Federal grand jury. which will
meet in Denver in October, viii take
up and investigate over lC mining
companies. These cases all concern
Colorado, and have been referred TO
the Federal jury BY the United States
Postofilce inspectors.
The resolution passed By the sink
ing fund commission to pay ~ per
cent on New York city bonds is in line
exactly with what is taking place in
the money markets of the world. In
terest has gone upon higher basis just
the same as prices and wages.
In 1886 the interest on New York city
bonds was Sls per cent. The advance
10 "a per cent this year VIII be an in
crease Of nearly 80 per cent in the rate