The evening star and Newark advertiser. [volume] (Newark, N.J.) 1907-1908, 1907-12-02
BUSINESS AND FINANCE.
AND NOTES
FOR INVESTORS.

The general business outlook throughout
the country in all branches Is certainly
better than 1t was a week ago or even a
month ago. Confidence, tinged with con-
servatism. is returning and was much in
evidence during the past week, but cur
tailn1ent in some instances is still the rule
because of a few unsettled conditions and
a more normal money market. Retail trade
In all parts of the country shows improve
ment, and banks which were crippled by
the monetary ~stringency are resuming
business on a money basis again. Large
volumes of gold are coming in from Eu-
rope, and 1t is being sent to the interior
so that the farmers can move their stu
pendous crops. and currency is being ma
terially aided by the governments assist
ance. Railway and foreign
were, however, a little of. but this is being
onset by the return of better business in
nearly all the industrial corporations. The
marketing for crops is in a better situa-
ton and above all the premiums ON cur.
rency Is gradually disappearing. Viewing
the state of the country as a whole il can
be adyisabiy said to be more reassuring
than In many weeks.
Now that Congress has convened for an
other session it is hoped that a plan viii
be taken up so as TO improve our cur
rency system. Our CURRENCY system is
not of the best, and 1t would be best
for our lawmakers. to buckle right down
TO work and solve out a currency system
which would be able TO meet any kind of
a stringent money situation this country
may encounter. just like the one we are
passing through. The Treasury Depart
ment always comes to the aid when the
stringency has nearly run its course, but
what our solons at Washington should do
is to devise such a plan as to almost pre-
vent the coming on of a stringency.
1t was stated in international banking
circles that the improved position.of our
financial affairs had led to the placing OF
large orders for European investors. par
t~icularly in the bond line.
That the railroads and the steel manu-
facturers have come to an understanding
regarding the quality and price of rails
for 1908 is shown by the flood Of requests
for reservations for rails being received by
the United States Steel Corporation.
With better news from this country all
of the foreign markets and financial
circles are in a better tone. There was a
marked advance in all our securities abroad
during the past week, and no hesitancy
was visible in the upward movement of all
the bourses last week.
Thousands of circulars have been sent
out within the last few days in New
York State by the retail coal dealers urging
their coal customers TO fill their bins with
coal before the streets become filled with
ice and snow. To permit this being done
the dealers have not raised the price OF
coal twenty-five cents on a ton as has
been the custom on December / for sew
eral years. Local retailers are advising
their customers in a verbal way.
-
Out of the $50 surprise tests made last
month on the Union Pacific and Southern
Pacific systems. the report Just issued
shows that only seventeen were imperfect
~ observed by engine drivers and train
men.
One year ago James ]. Hill, chairman of
the Great Northern Railway. said that II
would require the railroads of this country
in the lex five years TO raise $500, COZ, 900
to meet their needs or at the rate OF
81, 100000, a. year. On his return from the
West a few days ago Mr.. Hill amended
these figures with the statement that not
less, but in the opinion of competent
judges, probably 80 per cent. more money
than estimated by him would rave to be
spent annually by the railroads for the
next five years to come.
Interpretations of companies Of over ST.
0 5000 capital amount, for November, to
S42, 000,0 900, which is the smallest for any
month but one In fifteen years. 1t COM
pares with $50, 900, 600 in October.