The evening star and Newark advertiser. [volume] (Newark, N.J.) 1907-1908, 1907-08-07
BUSINESS AND FINANCE.
AND NOTES
FOR INVESTORS.

Reports from the large Western factories
Indicate that the late spring has made the
outlook for fall business In furniture some
what of a disappointment. Many dealers
still have their spring stock on hand.
-
Anthracite coal is more h a 100000 tons
ahead for the first six months Of the year
in comparison with the same period last
year and the proportion Is expected 10 De
Increased even more by the end OF the
year.
Ama1gamated Copper went on a 10 per
cent. basis today for a few minutes Wnen
the Issue touched so aud a fraction.
President s. M. FELTON,. of the Alton. will
be retained by the Rock Island interests,
1t is now said. because of his record Tor
economical management.
Several bond houses have begun a sys-
tematic canvass to obtain bids for New
York city bonds in anticipation of next
Mondays sale. when s15,0o0,0o0 will be
offered by the city.
Consumers OF copper are still showing no
intention of buying at the present prices.
They think copper will gradually drop to
fifteen cents a pound. A Boston dispatch
says the United Metals Selling Company
AhA \ III O16 ~ -
keep the Calumet and Hecla Company from
reducing the price further.
The Southern Railway preferred stock
dividend will be passed this month. ac-
cording to the interests identified with
the road. 1t Is thought that, added to
the systems weak financial position, the
continued harassment by legislative bodies
will be the final argumen OF the dlrec-
tors for cutting down the dividend. per-
haps providing some kind of financial
reorganization.
Investors and spectators who are hooe-
full of a betterment In prices, irrespective
to prevailing conditions, base their rea-
sons on the technical condition of the
market. In other words, there Is a tre-
mendous short interest at present In the
New York stock market. Brokers in
general are beginning to get bearish at
these prices, and In the face of a nine
day decline without a substantial recov-
cry, this alone convinces conservative
spectators and investors that a natural
recovery is due. Any development of tho
slightest bullish influence will send the
short side operators to cover their ac-
counts. and once they are gotten IN the
run In their haste to buy back their stocks.
stocks will advance as fast as they came
down
A. j. Stone. for several years assistant
general manager of the Erie Railroad, has
been appointed general superintendent, the
office of assistant general manager beins
abolished.
In the opinion of leading BANKERS n blow
has been dealt to the bond business IN
the form of the Alabama decision In the
case of the Southern Railway on one hand
and the Standard Oil Company's fine on
the other. Representatives of bond horses
said that few people wanted to risk buy
ing while new anti-corporation crusades
were breaking out. This, coming on top
of tighter money, has killed the market.
A stiff demand for money Is reported
from interior centres and 1t is expected
that this will continue for some time. East
ern paper is in large volume and Is re-
sponsible for the high rates that are now
obtainable for mercantile discounts, which
in the middle West are larger now than
they have been at any previous time this
year.
Further steps were taken by the group
of Pere Marquette stockholders who are
seeking TO have that railroad company in
demnifed for the losses they maintain 1t
has sustained as a result of the recent
sale at foreclosure of the Toledo Railways
and Terminal Company.
]. P. Morgan & Co. announced yester-
day the last payments on the 100000
fve-year 6 per cent. notes of the Pere
Marquette Railroad Company.
The Corbin Banking Company, of Anew
York. which made an assignment on
March 2s, has filed schedules showing TIA
bilities, 1888, 023; nominal assets, $3,249, PAS,
and actual assets. $685. 54.
REPORTS IF the savings banks of the
State of New York to the State Banking
Department, for the year ending June 80,
indicate that. despite a healthy growth Nm
total resources and in the number of open
accounts, there was a marked change in
co ditions affecting savings banks In 1907
as compared with the situation during the
previous year. The total resources of the
banks are 81, 400, 76o,i75, an increase of $46,-
316, 1888.
Based ON the latest figures available,
| the amount of capital invested In textile
establishments is probably 81, 500, 100000. OF
the four main classes. including cotton,
knit goods, woolens and silks, cotton and
wooden comprise about u per cent. Of all
the capital invested in textile enterprises.
Mr.. King. of Eisele & King, says: That
| stocks are cheap from an investors stand
point cannot be g~ainsaid ever by the big
gest operator bears, who are operating
purely and solely on the absence of sup
port from the larear interests The Inn
mediate future should show Improvement
MONEY AND EXCHANGE.
Call money in New York. 2Q3 per cent,
New York sub-treasury gained $l91,OOc
from the banks yesterday, but since Fri
day it has lost s1,047. 900, and was a debtor
at the clearing house for $905, COZ.
Commercial bar silver In New York, $685.
cents; Mexican dollars, 541s cents; bar ssil-
yer in London, 80. lid.
Paris rentes a6 francs S centimes. Paris