Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-12-25
TALES OF THE STREET.

AS has been the custom heretofore. the
Carnegie Steel Company plants. the Lor-
ain. the Illinois Steel Company, the Ma
tional Tube plants and practically all the
important steel concerns OF the United
States Steel corporation closed down last
night and will remain inactive until after
January /.
1t Is understood that the failure Of the
directors of the Missouri Pacific to meet
yesterday and take action on the dividend
was due to the inability to secure a
quorum.
The plan for the curtailment Of wages
agreed upon by the directors Of the Erie
railroad several weeks ago will be put into
erect January 1. The initial reduction
feet about 1890 employees getting more
man $50 month.
R. NJ. stuart-wortley has sold his seat
on the New York Stock Exchange for
$65, 900 and will retire from the firm OF
Edward Sweet & Co.
1t was voted at special meeting yester-
day Of stockholders OF the American Book
Company to transfer the charter of the
corporation from New Jersey to New
York. The stockholders also authorized
an issue Of $4,000, 900 of per cent bonds,
of which s., 000, 900 will be subscribed by
stockholders in the proportion of 40 per
cent OF their present holdings. The re-
naming $4,000 will be put in the treas
ury OF the company.
General Electric was about the weakest
security on the list yesterday, because OF
rumors that the company was about to
bring out another bond issue and that 1t
contemplated complete shutdown OF its
plant at Schenectady.
The Bank Of England received from the
continent 1865. 900 in gold and released in
the open market $2S5.000 in gold bars.
An extremely favorable feature of the
financial situation abroad Is the decline In
the price Of bar gold.
The Iron Age reports sales by the United
States Steel corporation Of 100000 tohs OF
sheet and tin plate bars for delivery the
first half of 19OS. This Is the first trans
action Of this character since the middle
OF the current year.
Dividends paid by the Rand mining CON-
panies for the year just ending show an
aggregate of $34, $40, 600 against disburse-
ments last year Of $6,9sO.OOO.
The Rutland railroad reports for the ifs
cal year ending December 21-partiy esti-
mated-gross earnings of So, 060, 200 an in
crease Of 1921, 900. Subtracting operating
expenses OF S.. 227 900, an increase of $24a.
OOO, the net earnings remain as $853, 600.
an increase of $31, 800.
The Cotton Exchange membership Of n.
r. Schoonmacher has been sold to j. T.
Gwathmey for $4,000.
The first installment Of Is per cent on
account OF subscriptions to the 5000 600
Of 6 per cent notes Of the Pere Marquette
10 per cent of the subscriptions were paid
in full on the first installment.
The sharp break OF cents in foreign ex-
change that has occurred within the last
two days Is believed to foreshadow disap-
pearance of the premium on currency. De-
mand bills yesterday fell to 4.S4, and ca
bles to 1891.
Anticipation OF interest payments by
several railroads and gas companies is
tending to relieve the pressure on the
money market. The Chicago and North
western yesterday announced that 1t
would anticipate the payment Of It's dtvi-
dend. which Is ordinarily paid January
and the disbursement OF which amounts
to about 100000.
The Hartman lines announced yester.
day that 1888 miles OF Union and South
ern Pacific track have now been installed
with the most modern safety block signal
system. The installation of the safety
block system was made at Q cost of
IS O00.OOO
]. G. White & Co. have placed an order
for a number of combination baggage
and passenger cars with the American
Car and Foundry Company for the Philip
pine railways, delivery to be made in
March. For the Porto Rico Railway Com
pany the purchase Of ten box cars and ten
fiat cars Is being negotiated. These are to
meet the demand for sugar and tobacco
transportation over the extension from
San Juan to Caguas. in the interior.
The directors OF the American GRAPHIC
phone Company have passed the divi-
dend on the common stock due at this
time. In March of the current year the
rate was increased to a 5-per-cent basis
The cotton exchange membership OF N.
r. Schoonmaker has been sold to J. T.
Gwathmey for $4,000.