The evening star and Newark advertiser. [volume] (Newark, N.J.) 1907-1908, 1907-07-19
NEWS AND NOTES
FOR INVESTORS.

L Ht ANOliiC hCAifGu VII
Ohio notes is two and one-half times as
great as the dividend yield on the stock.
Since the Hartman interests bought the
Baltimore and Ohio, Norfolk and western
and Chesapeake and Ohio stocks from the
Pennsylvania. they have decreased in mar
ket value about $13, 0Go.0 900. The Pennsyl-
vanla profits on the stock when II was
sold amounted to at least $l5,OOO,oOO.
Owing to the ~disapproval of a stock
holder of 100 shares to vote for the IN
crease of the capital stock of the MldVale
Steel Company from $4,000 to s9,1oOOoo'
the matter has been indefinitely postponed.
An English authority says the reason
why Paris is taking gold from the rest
of the world now is not because money
there is scarce, but because the rest OF
the world is Indebted to Paris. and Paris.
for certain domestic causes, has demanded
payment in gold.
The appointment of w. F. owen, of View
Orleans, as general manager of the Mo
bile. Jackson and Kansas City Railroad
and assistant to the president is an
nounced.
William e. Shepard. Of Rogers, Brown
& Co. Of New York. has been elected a
director OF the Buffalo and S~usduehanna
Iron Company to succeed Frank II. Good
year.
Bankers in New York who bought re-
Gently $4,000. 900 Chicago City Railway nrst
mortgage 3 per cent. t~wenty-year bonds
announce that the entire issue has been
sold to investors.
Large sales of electrolytic copper have
lust been made at the new price recently
esta blished % cents a pound. The amount
sold was in excess of 100000 pounds, ana
copper interests are of the opinion that
the big buying movement in the metal has
just begun.
Labor troubles at Lake Superior ship
ping points. combined with the slowing
up in the steel and iron trade, are respon-
sible for the bear demonstrations of the
iron and steel Issues oil the New York
Stock Exchange board. Many maaufac-
turers do not believe the ore strike will
re- Oh large proportions, and they add that
the furnaces lave enough iron on hand to
keep them in operation for several months.
Railroad earnings for the first two weeks
in July have been heavy in all parts of
the country, the increases from the corre-
spending period last year being especially
significant. IS in 1906 the traffic was UNI
usually large.
There is q growing demand for the new
3 per cent. convertible bonds.
total amount disposed of to date is
approximately 81 900 par value.
Persistent rumors are in circulation in
financial centres that the Northern Pa
cific will announce an increased dividend.
The earnings of the road are enormous
and the stock has been acting very strong
on the board for the last few days. 1t Is
said. however, that the Hartman manipu-
lators thought it wise to attract the pub
lie with some new issue. Union Pacific
a large amount of this stock.
There was a further dvanc In sterling
In the foreign exchange market and indi-
cations point that more gold will go
abroad. The New York money market is
easy enough to stand the strain. Egypt
is in, a depressing condition for the metal,
and 1t is doubtful whether London can
furnish their needs, SO his market u
supply it.
Standard Oil stock on the New York
curb broke through 500 mark to 496. the
lowest price In several months.
The anthracite shipments for the first
half of the calendar year 1907 not only
exceed the corresponding half of 1906 by
1860 tons, but are the largest for the COR
responding period in any previous year.
The tonnage reached S2,SS4,ss5.
The Westinghouse Electric and Manu-
featuring Company reports for the fiscal
year ended March 81, 1907, gross earnings
of $33, OPS, 240; other income was 81, 256, S35.
After deducting operation expenses, taxes,
interest. etc. there remained a surplus of
So, sos, 152, and the assets are placed at
S72, 270,S5i.
1t was rumored yesterday that new bids
Rad been called for the 10000 tons of fabri-
Gated steel which will be required to COM
plete the new Pennsylvania termina Al
though no confirmation was obtainable
from the receiyer of Milliken Brothers, it
was said, with some authority, hat the
American Bridge Company had undertaken
to supply the shapes, but whether to the
Pennsylvania itself or to Milliken Brothers
could not be learned.
Justice Hendricks, of the Supreme
Court. has adjourned argument on the
ACKNOWLEDGEMENTS Company mer-
ger until July %. The adjournment was
made at the request of the attorneys for
the company.
The stockholders committee of the
Brooklyn Ferry Company of New York
nave given notice that the time for the
deposit Of stock of the company with the
Windsonr Trust Company, the depositary,
expires tomorrow.
In round figures, $40, 100000 Of the 4 per
cent. bonds Of 1907 nave been redeemed to
date. of which $780, 900 have been taken
up at the United States Subtreasury in
New York.
Because the officers and opposition ele-
ment of the Knickerbocker Ice Company
still trying to effect a settlement of their
differences regarding terms of the pro
posed merger In the Western Ice Com
parry, no action on the Knickerbocker