The evening star and Newark advertiser. [volume] (Newark, N.J.) 1907-1908, 1907-12-17

| been reported that English holders OF inc
| debenture and preferred "A" stock rear
| the position OF their securities will be IN
| iured by the ~refunding with bonds of the
IS. 500, 900 gold notes, which fall due In the
next few years, which piece of financial
the management is contemplating Re-
| Gently the interest on the debenture stock
was deferred.
New York Central directors will meet
tomorrow and 1t is expected that the quar-
terly dividend will be fully declared.
No signifcance attaches to the resigna-
ton of Charles F. Choate from the New
Haven directorate.
The big panic in the stock market this
year will have no reflection upon the
brokers who rave been giving in the past
Christmas presents to their employees
This year the employees will receive tneP'
usual presents just as if the past year was
the most successful one financially. Al
ready a committee has been appointed ana
the contributions collected are encouraging.
BY scanning the market letters you can
easily see the diversity Of opinion OF the
brokers. Some advise their customers not
to buy stocks, saying the industrial situa-
ton is precarious and that lower prices
is a foregone conclusion. Some tell their
customers to buy stocks on all reactions
for they will be rewarded in the course o.
a short period. Others take the conserva-
tive side and tell their customers the DO
nothing policy and some preach both sides
of the situation.
Stockholders of the Tennessee Coal, Iron
and Railroad Company made their second
payment of 20 per cent on the new Issue
Of S,750, 900 Of common stock which the
stockholders subscribed for last September.
Steps toward compelling the New York,
New Haven and Hartford TO pay a per
diem charge of fifty cents on cars Of other
roads are being taken by the attorneys OF
the roads with which the New Haven sys-
tenn interchanges traffic.
It has become known that the officials
and stockholders of the Bank of North
America, allied with the present manage
ment, object to the proposition of merger
made ON behalf of the Consolidated Sank.
Mr.. Havemeyer, president of the bank, said
that there had been a hitch in the negotia-
tions and that while certain negotiations
for q merger had been under way they had
never reached a stage where they could be
called a deal
A Los Angeles dispatch says that the
Santa Fe has contracted for 5,O0O,OO0 rail-
road ties from Hawaii.
Representatives of the leading steel COM
psnies say the money market will shape
the course of the steel Industry. Con-
sumers want steel, Lut do not care TO buy
| because they cannot see their way clear
to pay for the commitments. The rail-
roads also would buy more steel rails than
they are buying, but they also cannot pay
for them, owing to the money tightness.
The total production of lead in the Uni
ted states in 1906 from ore mined in this
country, including that derived from
known sources and the greater part OF
that derived from unassigned sources and
recovered from zinc residues. was SSO,lo3
short tons.
II became known yesterday that what
| negotiations there may have been for the
nnrchase of the New York, New Haven
and Hartford Railroads holdings Of Boston
| and Maine stock have been carried entire
Iv through Charles S. Mellen, as far as
the New Haven was concerned.
new plan for the resumption of BUSH
ness nv the K~nickerbocker Trust Company
was agreed to yesterday by the commit-
foes Of the depositors, and the reorganiza-
lion committee representing the stock
holders.
Mr.. Cooper, of Ripley & Cooper, said:
'The premiums on currency and the I'M
certain money market are not any TOO
favorable subjects before the public. Tit
slowness and neakish character in which
the bears have been putting down the
market also is not encouraging. The only
thing that we can see in it at present is
TO sell stocks on rallies"
The oNrrency market was practically I'M
changed today. Some transactions in
round amounts were reported at q to l
per cent. premium.
From what was heard today 1t seems
evident that brokers do not expect that
the banks and other large lenders OF
money will supply them with funds during
the next few weeks to carrys on a time
speculation in stock. On the contrary. II
is understood that they have been informed
that the manufacturers and mercantile in
terests must be supplied with money first,
and that loans for purely speculative pur-
poses will be curtailed in every possible
way. Not q few brokers believe also that
the rates for money at this centre Will
continue high in the belief that only in
this way can funds that were withdraw
by interior Institutions be redeposited here.
DIVIDENDS DECLARED.