The Washington times., 1907-09-01
FINANCIAL GOSSIP.

Henry Clews says: Mr. RoOseveIt's
policy has been forced upon him by
these developments. While the penalty
now being paid may be bitter for the
excuses that have taken place, the sit
uation will be a sOunder .one in the end
and all interests viii be established on
"a more conservative basis. Great pros
perity has forced upon corporations a
larger amount of business than they
had the ability to handle; hence the
flooding OF the market With securities
10 obtain the means to meet the emer-
gency and the excessive issues from
that source. It IS plain to be seen,
therefore. that those who blame Mr.
Roosevelt for all our troubles are in
error. Actual conditions have been
mainly responsible. We have been con-
Ironted with conditions, not theories.9
The Standard OIL Company viii be the
largest payer Of dividends in the present
month. Payments by this company will
aggregate nearly 5000. 900. The Illinois
Central railroad will disburse s., S2s 400
the Baltimore and Ohio will nav ont
S5.T8.lZ3 on the common and preferred
stocks, and the New York Central dis
tributes 8, O49, so to stockholders. The
United States Steel Corporation will nav
1854, 5l2. The American Tobacco Com
pany pays ont q, $50 as the regular
disbursement and $S,O1s as an extra divi-
dend.
30 Tar as can be ascertained the Sec
rotary OF the Treasury Will deposit about
S4o'OOo'0o in the national banks between
now and November next.
The publication Of the general balance
sheet Of the AtcI ison as of Nav last
shows that the road was in greater need
Of funds at that time than vas generally
understood. In June 1906 tho Atchisou
'fad Sl7,31, $50 in cash on hand. whereas
last May it had but $40. 495. S13, against
which there were outstanding Liabilities
nearly twice as great.
Another $4,000 in gold gone away. But
then We'll have to stand IL. 1t viii be
our turn when the wheat, corn and cot
ton begin to move Europeward.
Although bankers are confident that
individual bids viii be made on Septen-
Der TO- sufficient to take up all the S4O,-
100000 of AZ per cent New York city
bonds, it was learned on authority yes
to-day that a syndicate had been formed
to buy the whole issue, If subscriptions
should be lacking, or as nuch of the is
sue as may not be sold. Their price
however. it is understood. viii be but
very little above par. In the syndicate
are several of the big insurance com
Danles, banks, trust companies and pri-
Vate bankers.
The decline in bonds during the month
Of August has carried prices to much
the lowest level recorded in several
years. In fact there are not few cases
IN the general list where current qu6-
tations are considerably below all pre-
vious low records, and September will
open. therefore, with investment bar
gains relatively more easy to select than
ever before.
According to reports made the gross
receipts of seventy-two OF the leading
railroads in the United states for the
.fscalsyear ended June 80 were 8, 225, 096, -
225, an increase for the twelve months
of $14O.567. Al. or 1886 per cent The net
receipts were S3e2 us, 49,, an increase of
81, 49,, 226. or SIS per cent.
The SOS, 945. $50 Government per cent
bonds which are redeemable after Au-
gust next are the outstanding amount