The evening star and Newark advertiser. [volume] (Newark, N.J.) 1907-1908, 1907-10-23

Copper Company, says 1t will be necessary
for the directors to pass on the question
to pay the s~emi-annual dividend of So a
share on the preferred stock. notwith-
standing the fact that early in January
the directors voted to set aside 100000 to
take care of the two payments of s150.OOO
each for the current year.
There are few persons who are as I'M
terested In the outcome of the Hartman
Fish fight fer the control of the Illinois
Central as the American Express Com
pany. This company has a contract with
the Illinois Central, which expires within
a few years. to operate the Illinois Cen
trail lines. The Wells-Fargo Company
operates on all the Hartman lines, and
should Hartman win out it Is almost GER
tain that the American Express Company
will not be able to renew its contract.
Standard Oil stocks, for the first time IN
ten years, sold below 400 on the New York
curb. Trading in the stock on its last
break, which occurred yesterday, was very
active, and many shares exchanged hands
during the turmoil.
ACKNOWLEDGEMENTS stocks, both
common and preferred, are still making
low records on the exchange.
Despite the pessimistic talk of a forth
coming depression in business and conse-
quent retrenchments, there is no indica-
ton of any marked falling off in business
in the coal railroads.
In an official statement given out by the
State Department attention is called to the
extraordinary proportions, richness Snd
mining facilities of the Fushun coal mines
of Manchuria.
Big Four Railroad has instituted a suit
denying the constitutionality of the act
created by the Indiana Railroad Commis-
sion to compel the road to transfer cars
OF coal to traction company lines.
Mr.. Cooper, of Ripley & Cooper, said:
1.-THE disclosures of the conditions of one
of the strongest and largest industrial
corporations In the world of Its insolvency
and the unpleasant bank situation in New
York city. combined with the inadequate
system of the Treasury Department in
relieving the monetary stringency are the
most favorable occurrences the bears in
Wall street could want to further smash
prices. The list has been in a shaky posi-
ton for many weeks and the new unfav-
orable developments springing up now and
then are not very healthy for the market.
We still adhere to a conservative POSI-
ton on the short side"
One of the features Of the New York
stock market today was the enormous SELL
ing of stocks for Pittsburg account. There
has been about 100000 shares sold today for
Pittsburg account, and these sales were
made at almost continual concessions In
prices with the most direct effect on
Westinghouse, which dropped over 90
points from yesterdays high mark.
The international Paper Company reports
- T...x- III . 49,, IN
come of $21, S41, 4S6, increase $3,671; total ex-
penses $40, 217, $50, increase 1856, $50; net
earnings of 81, 62S, GIG, decrease 1851. 925, and
a total surplus of 81 ,S65, 800, which was an
increase over the preceding year of $2O4,2l4.
1t is stated in unusually well-informed
circles that the combination of bankers in
terested in protecting the trust company
in New York have agreed to adj
vance, If necessary, the sum of $15,00O,0O
to enable the Trust Company of America,
Of the latter city, to meet the demands Of
its depositors.
At the New York Metal Exchange weak
ness was again shown in commodities, all
grades of copper being further reduced
one-fourth cent on the pound. This brings
the metal down to a II to liz per cent.
basis. There has been reported a little
buylne of the metal, but smelters and cop
per mines of account continue to close,
and the heavy consumers refuse to buy.
They remain obstinate in their demands,
and say they will see copper selling nine
cents a pound.
1t is understood hat the Treasury is
still extending aid to the banks and MAX
ing further deposits of government bonds.
1t can be stated on authority that the
banking situation is being strengthened by
these government deposits.