The evening star and Newark advertiser. [volume] (Newark, N.J.) 1907-1908, 1907-11-22

An additional 100000 preferred stock. of
the American Locomotive Company has
been admitted to quotation on the New
York Stock Exchange. The preferred
stock now outstanding amounts to SIS .o00.-
600. the total authorized issue.
The Westinghouse Air Brake Company
has issued a circular to its stockholders
calling attention to the special meeting
scheduled for December 8, to take the
necessary legislation for the increase In
the capital stock from $11, 5000 to S14.-
100000 and the payment of a stock divi-
dend of % per cent. therefrom.
Since the premium on money has de-
clined somewhat there has been less OF
it in demand
OF the 100 most active railroad and In
dustrial stocks only seven sell above 100
per cent.
The average price of twenty active rail-
road stocks got below 50 yesterday. the
bottom price Of the year. This decline. 13s.
the top figure last year, shows an aver.
age loss of 81 per cent.
A. G.. Hackstaff, vice-president of the
Illinois Central, has gone to Europe to
talk with foreign holders of the IIIinois
stock. Nearly all Of the foreign bolders
gave their proxies in Fisk's favor. Mr.
Hackstan Is a member of the proxy COM
mittee.
Reports from business centres received
this week by r. c. Dun & Co. Indicate
considerable Improvement, more e-speclal-
" in monetary conditions.
The committee representing the directors
of the Knickerbocker Trust Companv an
nounced an outline Of its plan for the re-
sumption Of business by the company.
Under this plan, II 1t is adopted. the capt.
tai stock of the company is to be- in
creased from s1,200,O 0 to $2,OO0,0O0.
Fred d. Underwood, president of the
Erie, made the following statement: THE
statements made in print and on the street
that the Erie Railroad is to apply for a
receivership have no. foundation and are
utterly false. Financial arrangements have
already been made to meet all its antici-
pated requirements, and the business and
the earnings Of the property are better
even h they were last year."
-
A meeting of the board of directors OF
the Merchants Associa ton, of New York.
largely attended, at which, among other
things, the present financial situation
throughout the country was discussed and
the secretary of the association has been,
instructed to communicate the views of
the directors to all the prominent comment
clal organizations In the United States.
New York bankers in discussing the ac-
ton of the Bank of France In breaking
off negotiations which had for their object
the shipment of from SIS, 000, 0GO to $780,
600. 900 of gold to help remedy the United
States monetary ~stringency, think tina the
Bank of France has made a big mistake
when they refused to deal with any one
but The government of the United States,
which, it IS pointed. has about $3.50, O0O, 600
in the national banks, and does not need
any assistance.
RAILROAD earnings for the first two weeks
in November for all the railroads in the
country have not been up to the standard
of former years earnings.
The Pittsburg Stock Exchange remains
closed on daily action OF the directors, and
It is likely to remain closed until the nrst
of the year. A
In interviewing a large number of the
local brokers 1t is found that the runaor.s
saying that the U. G.. I. of Philadelphif
Is going to set control of the Public Ser
ice Corporation is all hash"
Post & Flagg say: About the best thu
can be said of the present situation is thf
as eacn day goes by, things become fund.-
mentally better, and we are nearer -
end, but we must exercise patience for
long while to come"