The evening star and Newark advertiser. [volume] (Newark, N.J.) 1907-1908, 1907-09-16

NEWS AND NOTES
FOR INVESTORS

nj as mucn as 70 per cent. from THIS year,
but the more %sanguine are inclined to
thlnk that as the demand has been in
c~reasing largely from year to year the
lull in 1908 will mean rather a temporary
cessation of the increase than an actual
decline In tonnage.
With the reduction in dividends Of some
Of the largest mining companies the ques-
ton that naturally suggests itself is
whether the Amalgamated and Anaconda
copper companies will follow suit with
the price of electrolytic copper at 1914
cents. A good deal of criticism is being
directed against the A-malganated inter-
ests because of their stubbornness in up
holding the price OF the metal in the face
OF a declining demand. and it is admitted
they were tortunte in not increasing their
dividends on the eve OF a break In prices.
The American Car and Foundries Com
pany report for the fiscal year ending
July 81 shows gross earnings of $40, 1853, 521,
compared with $15, 297, 495 last year, and net
earnings for surplus 2,S79,0s6, against ST.
00s,5 21 a year ago.
No signs of awakening activity were APP
parent In the local securities market last
week. There have been a few demands
lOF tTdCllOH ISSUES Dul. nOkQclS - Sums
and bonds seem to be perfectly satisfied
with what they have. The hardening ten
dency that has dominated the LEGAL money
market met with a check, as evidenced by
the reports of the local banks.
Following is the compilation of figures
by the New Jersey Commerce and Finance
showing the condition Of our local banking
Institutions for the week ending September
Is: The combined bank statements of the
National Newark Banking Company, the
Essex County National Bank the Mer-
chants National Bank, the North Ward
National Bank. the Union National Bank
and the National State Bank, made at tbs
close of business under date Of September
II. show the following aggregate items
Loans and discounts. $31. $50, 050.20; bonds
and investments, So. 2SS, 1861: deposits
$50. 965. 479: due to banks, 81 1889, 531. %; casf
and reserve, Sc. 727. 75o,56; n due from
banks (other than reserve agents., $2,29s,,
0O9. 81. The combined statements of the
| West Sid Trust Company. the City TrusI
Company and the Fidelity Trust Company,
made at the close of business under date
of September Ii, show the following aggre'
gate items: Loans. $40. S51 ,929.31; invest
ments, $13. TBS, 280. 81: due from banks an6
cash. $1,657. 712. 10: due to banks. $2,2B3 ,S92.S1
and deposits, $14. 6s5 49, 6.
-
T. A. Mcintyre q Co., say: 1.-THE techni
cal condition Of the market has beef
| greatly improved by the liquidation AM
| short selling Of the week, for which rea
son stocks should be purchased on recess
sions for moderate profits, quieter condi
lions being probable for the immediate fu
ture. There is absolutely no question tina
| standard dividend payers, such as we hav'
called attention to, are selling far below
the line of value, and offer splendid op
portunities to the investor, who can pur
chase outright or with heavy margin"
England's soap war has broken out again
Prices, which were raised a year ago by tn
combine because of the alleged increase II
material, are now being cut, and the breal
up of the combine will be followed by
bitter struggle between the leading manu-
facturers.
1t costs $1s4 more to ship a carload o
lumber from Seattle to Camden, N. j..
distance of S.14S miles, than 1t does to shi,
a carload of automobiles from Syracuse, n
Y, to Seattle, which is 1877 miles less. TIL
carload of lumber does not involve as mucl
risk as the carload OF automobiles in cas-
of a wreck, and yet this excess charge pre-
walls. This and many other interestinI
facts involving the alleged discriminate
by the railroads against lumber and shin
giles have been brought to light by the in
formation bureau of the lumbermen. Thi
unequal rate is charged throughout tn
| country, and these facts will be brought t
the attention of the Interstate Commere
Commission In the fight against the ad
vance in lumber rates that the transcontl
mental roads propose to put into effect OF
November 1.
The business situation begins to shoy
marked signs of liquidation. This, o
course. is the result Of the scarcity o
money, expended credits, and the inndispo
sition on the part of banking interests +
renew Indebtedness. In a broad way, tn
liquidation and relaxation are making 70
improving conditions; that is, they meal
ultimately an accumulation Of money, re
duced merchandise stocks, and a level O
prices that will not only be safer, but at
t%ractive. 1t seems probable that the labo
will be obliged to share with capital in tn
retrograde movement.
Post & F1agg say: st seems to us as &
we must have a betterment from the pres
TENT low level Of investments if none,
eases, as it surely will, should genera
business fall off decidedly as we are lee
to believe Is likely to be the case"
The board of directors of the Westing
house Air Brake Company has adopted
a resolution recommending an increas,
In the capital stock from $11. 900. 900 t
$14, 600, 900, ard the payment of a stocl
dividend of Is per cent. therefrom. Th'
proposition will be submitted for approva
at the annual meeting of the stakeholder
on October 1.
interests which have heen most activ,