The evening star and Newark advertiser. [volume] (Newark, N.J.) 1907-1908, 1907-08-13
BUSINESS AND FTNANCE
NEWS AND NOTES
FOR INVESTORS.

Active stocks were on an average lower
yesterday han they were in several years.
Issues OF twenty railroads were at about
81, compared with 1873. the high level last
year. Stree December these stocks have
fallen IS per cent. New York traction
stocks have fallen to their low levels.
If the big slump had hit the small spec
ulators relatively as much as it did the
big ones there would ave been plenty
of failures. The utter absence of failures
shows that the richest men of the coun-
try, who are the ones carrying the bur-
dens, nave been able to bear the strain.
Standard Oil stock sold down TO 1925 a
share. the lowest price in a dozen years.
The decline from the high level has been
over $500 a share. John D. Rockefeller is
said to own 400. 900. His shrinkage in the
end of his fortune has amounted to over
S120, 900, 900. his loss yesterday on this bases
was $16.O00.0 900, or more than $4,000 a
minute.
Bar silver has been declining for several
days, both In New York and London. the
latter city being the leading market for
silver.
President Underwood. of the Erie, says
there Is no truth in the story that he Is
to become Interested in a new battery
manufacturing company in Milwaukee, in
which many railroad men are reported TO
be interested.
Coffee is from 10 to 10 points lower be-
cause of the bearish reports from Europe.
The Imperial japanese government G per
cent. sterling loan, issued partly In No
vember. 1904, will be redeemed at par and
accrued interest to September 10 next, at
6 per cent. per annum.
The Public Service Commission of New
York has decided to investigate the
suburban railroad service of the New York
Central Railroad.
New York city had another bond sale
failure. After two weeks of advertising
bids for $4,000, 900 fifty year 4 per cent.
bonds ard $2,O00,00O ten year 4 per cent.
assessment bonds were opened it was
found the total bids amounted to only
S., 713, ASS.
t. A. Mcintyre & Co. say: w feel the
country canno be forced into ruin. and
those who can afford to buy stocks on the
scale Town and hold them will be able to
realize very handsome profits within the
next thirty or sixty days"
Exports of finished iron and steel ma
terial from New York and other Eastern
seaboard points for July were j3, liz tons as
against 3S,641 tons in Tune and compared
with IS, ZAP In July of last year. This is Il
record breaking export business.
President Murray, of the Baltimore and
Ohio Railroad, has denied the report that
George l.. Potter, the third vice-president
of the road, would resign in a few days
to be succeeded by Thomas Fitzpatrick,
the general manager.
The Farmers National Bank at Boyer
ton. Pa, which was declared ~insolvent
and placed in the hands of a receiver on
July 20, was permitted to reopen its doors
and resume its business, having compiled
with all the conditions imposed by the
Comptroller of the Currency.
officials of the Philadelphia and Reading
Coal and Iror- Company have under con-
sideration plans for raising the price of
all steam sizes of coal twenty-five cents
a ton. Thu domestic or prepared sizes
will remain unchanged.
An equipment trust agreement has been
filed at Atlanta. Ga, by the Atlanta, Bir-
mingham and Atlanta railways covering
an amount invested in for about $2,S1s,
900. E.
A syndicate has been formed in Brazil
to establish an agricultural credit bank.
F. A. HeInze. who has made his head
quarters in New York since the settlement
of his long legal war in Butte, Mont, with
the. ~Amalgamated Copper interests, and
has recently branched out as a banker, Is
about to extend his banking interests by
the establishing of a new National Bank
In Seattle, Wash.
--z-...A -4or..A4i.,,,I Lax1fAr IN.rE
in response to ar inquiry as to whether
or not any large financial institution in
Berlin was in trouble. received a cable
stating that the report Of trouble in bank
ing circles there was absolutely without
foundation.
One of the peculiar features of the steel
situation is its strength in the face of
reports Of q slowing down in the volume
Of business. Steel orders for future de-
livery are coming rapidly, and the lighter
branches of the industry are also active.
All the mills of the Steel Corporation. as
well as the independent mills. are in oper-
alton.
In addition to the regular semi-annual
dividend of 312 per cent. on the ommon
stock of the Canadian Pacific Railway
Company, an additional dividend of " per
cent. has been declared on the proceeds
from the sales of lands. The extra dis
bursement will be made when the regular
dividend will be paid.
All grades of copper were further re-
duced at the New York Metal Exchange
one-half cent a pound in both bid and ask
ing prices. The value OF the metal is at
the lowest price since the upward move
ment was started.
According to the opinion of some of the
best judges of technical conditions pre-
vailing in the stock market and the
financial situation as a whole, little hope
is extended for any pronounced improve
ment in prices until the present mania for
attacking corporations subsidies.
Post & Flagg say; For the present,
however, ii Is almost needless to say that
those who are carrying stock on margin
got to proceed most cautiously and
strengthen their position as much MS pos
sible. Certainly 1t is time that the bust
ness interests Of the country awoke TO
protest against a hippant and reckless
method of dealing with the substantial.
but intricate, business relations of the
country"
THE PRODUCE MARKET
NEW YORK. Aug. MISUNDERSTANDING,
22,450; sales, LOCO; dull and unchanged.
Minnesota patents. 490d5.90; winter