The evening star and Newark advertiser. [volume] (Newark, N.J.) 1907-1908, 1907-08-22


It is estimated that the four big cleo
trieal manufacturing companies Of his
country will earn in 1907 s197, 100000, a gam
of $40, 10000 o over that Of 1906. or TINS
amount the General Electric is credlten
with 10000 0o
Morgan's home-c coming was not celebrat-
ed with any fireworks in the stock Market
There is much curiosity as to what he VIII
do now after his long absence from the
United States.
ut now appears that the total yield of
wheat in the United States will approx
mate 640.0 900, 900 bushels" says the Com
mercial National Bank, OF Chicago; 10
augment this which inadequate supply we
have brought forward from the previous
year, say 60,00o,0 600 bushels. The world ;
crop seems to be short by an amount pc
tween $50, 000,00 and 425, coo, 900 bushels. Tne
Implication is that the potential demand
for American wheat for export Will pre-
clude any serious decline in the price OF
this foodstuff at any time during tne
year; but there is a strong probability tnat
the farmer will realize from MS shorter
crop a money return equal to or gfeateS
than that obtained from the, great crop lol
1905"
In six weeks Metropolitan Traction
stock has tumbled 81 points. TINS is u
sample In the shrinkage OF the security
values for which no one can blame Presi-
dent Roosevelt. 1t is simply a case OF
the present operating traction company IN
New York being unable to masticate the
very pretentious bite which 1t TOOK Wnen
1t absorbed Met"
Two memberships in the New York Pro-
duce Exchange nave been sold at auction
at $3.50 and 1855. This is about $o lower
than the previous sale.
Application has been made to the direc-
Ttors of the United States Steel Corporation
for S2,500,0o0 for improvements at the
Sharon and South Sharon plants.
James r.. Branch, WHO has been secre-
tary of the American Bankers Association
Is likely to have more competition this
year at the next annual meeting, because
F.. E. Farnworth, secretary Of the Michi-
gan Bankers Association, has been urged
by his friends to run for that position, and
II he does will probably have strong West
ern support.
The Iron Age says: Generally speaking,
the undertone throughout the iron trade is
one of increased over the gu
ture. The plants are still running under
| high pressure and will do so for the rest
of this year in order to fill orders now on
the books. This is the season of the year
when ordinarily there Is a lul, but the
contrast between recent experiences or
record business and a quiet market may
play a falling off in new business in nearly
all directions"
Il. A. Mcintyre & Co. say: W. would
only advise the purchase of the best class
of di~vidend-paying stocks in the railroad
and Industrial list to those who can pay
for them outright. + such purchases are
-, t - f.-&tA- IronIra from
this level we think they will show fairly
good profits after the equilibrium Of the
financial situation and the worlds security
markets nave been restored"
Rumors are widely circulated in Wall
Street to the effect that Secretary Cortel-
you would within the next few days de-
posit $50, 900, 600 Of the government funds
with banks.
Quotation has been discontinued In the
unlisted department of the New York
stock Exchange OF Southern Pacific sub
scription receipts for preferred stock.
Charges That proxies had been solicited
for the purpose of maintaining the present
management Of the Calumet and Hecla in
power, of ratifying Illegal acts, were made
by Mr. Tyler. appearing as counsel for
Albert s. Bigelow, at the annual meeting
of the company.
b In a letter signed by the shareholders
committee of the United States Express
Company, who are demanding a larger
dividend. the support of all the stock.
holders is asked, and, as a result of an in
vestigatlon of the companys' books, the
committee estimated that the net earnings
of the ensuing year would be fully 10 per
cent, while the dividend paid is only 4 per
| cont tharnfora tho Stockholders. ACCOM-
ing to their estimation, are fully entitled
to an increase.
A scheme for improvements in the Rus
sian State railways which it is proposed
to carry out from 1908 to 1872, aggregating
a total expense OF $45S. 000.0 900, divided in
five budgets. The principal items are
doubling tracks. s46. 900. 900; bridges and EN-
bankments. $30,000, 900: stations. $50. 500, 900;
workshops. $50. 900, 00O; rerailing. $So.0Oo.0o0
and rolling stock. s151, 100000
The stocks Of the Hill lines show a de-
probation in market value during the past
year of more than half a billion dollaYs.
In Northern Pacific and Great Northern
alone the enormous decline has been 1850
COO. 600.
officials of many of the leading railroads,
particularly those whose stocks have wide
distribution. say that they see many evil
dences of considerable buying of stocks
by, small investors from all parts of the
country. This has been particularly true
during the past two weeks.
Post & Flagg say: should we have a
sharp advance it would drive to cover the
short interest which is now such a strong
sustaining force in the situation, which the
writer believes would be a very disad-
vantageous thing to happen at the mo-
ment. On the other hand a further de-
cline would create further anxiety and we
certainly have had enough OF this
Theodore Fl. Price today issued a state
ment regarding a report that he nad
turned a bull upon the market, saying the
report Is absolutely untrue. 1T Is dii-
fcult for me to imagine any conditions I'M
der which l should now anticipate nlgneI
prices for cotton" aid Mr.. Price. IF j
becomes more and more evident to me-,
he added. "that the dry goods trade ootn
in America and abroad. Is upon the eve
Of liquidating. what has probably been inc
most extended speculation In manufactur-
ing goods that it has ever known. one
has only to read the reports OF the dry
goods trade published in the daily papers
to realize this fact"
DIVIDEND DECLARATIONS.