The evening star and Newark advertiser., 1907-10-11
BUSINESS AND FINANCE.
NEWS AND NOTES
FOR INVESTORS.

| Western Unions surplus applicable to
| dividends was much smaller in the 190l
Fiscal year than at any time during the
seven preceding years. 1t barely earned
its per cent. dividend.
A member of large brokerage firm said
today that there are some inquiries for
good bonds He is of the opinion that the
shrewd investors haYe been buying long
term gilt-edge bonds, which yield a rea-
sonable income rather than the short
term notes. which for time seemed very
attractive for the large rate of interest
they gave tc the purchaser.
It is reported that the Corn Products
Refining Company has sold its old plants,
as part of its concentration scheme, at
great sacrifice of values. five of them
going for s50O,000 at recent sales. or about
their real estate value, as compared with
listed valuation of s7,oOoOOO as going con-
Germs.
The United States Steel Corporation,
which purchased the National Wire Com
pany of New Haven, through the Amer
lean Steel and Wire Company a week ago
plans to operate the Connecticut concern
as soon as the transaction is completed,
The Bank of France has withdrawn its
offer to pay interest in transit on gold inn
ported to France because the bank was
flooded with applications. Exchange IS
quoted within a fraction of the gold export
point and exports may take place at any
time unless the situation changes quickly,
or should there be flood of cotton bills
in the market at any time the danger
of gold exports VIII be removed Matur-
ing securities held in France also tends
to keep exchange at the high level.
The Pennsylvania Railroad Company's
dividend to be declared on November 1
next will, it is estimated, be shared In
by nearly $4,000 shareholders. This COM
pares with 1896 in May and 1850 share
holders.
The proposal for the absorption by The
Great Northern of its subsidiary railroad
companies was approved by the stockhold-
ers of the road at their annual meeting.
There were several individual stockholders
who opposed the proposed absorption, how
ever.
1t is now certain that the Baltimore and
Ohio will control Chicago Terminal Trans-
fer Company with the Chicago, Burlington
and Quincy a tenant. II not joint owner,
as all differences have been settled in the
courts.
Vanderbilt interests have decided 70 ex-
tend the Pittsburg and Lake Erie Railroad
SO that it will give them one of the short
est and most direct outlets to he lakes
from the Pittsburg district.
Former United States Senator Clark, Of
Montana, who has Just returned from Eu-
rope, said in an interview that ne had
found a pronounced lack of confidence
abroad in American securities, brought on
1xy what bo ta,.rnad tho hitci11s scondnlS
The Virginia Coal and Coke Company
has increased its capital stock from $4,000,
700 to $780, ,oO0 the additional capital to
De per cent. preferred stoclS.
Official announcement Is that the output
IF gold at the Rand for the month of Sep
compared with 501, Ill in the corresponding
month of year ago.
Mr.. King, of Eisele & King, said Money
tight, crop prices high and the foreign
public losing their confidence in our Sc
curities are the unfavorable factors of the
present market Combined with these are
many more. Naturally this has tended to
keep the public out Of the market. and
those who have ready money turn to
other channels of trade We hesitate to
sell some good railroad issues at these
levels, while the industrials should be given
careful attention in commitments either
way. 1t is best to take a scalpers side of
the market and seize profits on both turns"
Since the decline in copper stock began
the total shrinkage approximates S500,O0O-
coo. The high point was in January, and
in spite of the heavy losses incurred not a
single house, either in New York or Boston,
which makes a speciality of the copper
stocks. has gone to the wall Never since
copper became a recognized industry has
such shrinkage been known.
Announcement was made today that JUS
tice Seabury, of the New York Supreme
Court would hear on Monday next at 1
p. NJ. Samuel Untermeyer, counsel for the
New York City and the Metropolitan Street
Railway Company, in opposition to the ap-
pointment of receivers for both companies.
An assessment of 50 per share has been
called on the stock of the Winona Copper
Company. The assessment is payable in
two instalments of 81 each, the first fall
ing due on November 12 and the second on
February next, with interest at the rate
of per cent. after the respective dates.
No stock will be transferred on the books
of the company after the assessment dates
unless the installment then due shall have
Deen paid.
In consequence of the recent appeint
nent of a receiver for the Conneaut and
Erie Traction Company holders Of the ra-
funding mortgage bonds of the con,pauv
have selected three men as a committee for
the protection of their interests.
Post & Flagg say: The stock market
has been liuuidating SO long and 40 ner-
sistentiy that 1t has discounted good deai.
and 1t is probable that people who ou,clSly
PICK up stocks Mt the present IevsI vii
get nice profit in the long run" "-''
THE PRODUCE MARKET.
NEW YORK. Oct. u.-Flour-Rece,n+s
Hlzy paIreisi sales, 5000 barrels; fiour,
FIRMLY held with trading quiet, Minnesota
patents, 5Sofi6.00; winter straights, 4 ION
40: minnesota bakers, 445@4SO; winter
extras: 4.00d4,25 nominal; winter natants
4.s5@6.Oo: winter low grades, 59og4 SS1at x