The evening star and Newark advertiser. [volume] (Newark, N.J.) 1907-1908, 1907-09-23
AND NOTES
FOR INVESTORS.

- - a AAC8AA1A AOAAG
iron and steel market. Events of last
week, though lacking In developments of
striking interest, reflect a state of indus
trial activity shat gives little encourage
ment for pessimistic opinion of future
trade conditions. In all lines Of finished
material specifications are in adequate
volume to fill mill schedules well in adj
vance.
Demand for money in the West shows
some diminution as compared with that
of a few days ago, but the falling OF
has not been sufficiently marked to have
any erect on rates. The market is still
quoted at 61s to 7 per cent, and there APP
pears to be no prospect of any early
changes.
Opinions regarding the business outlook
are still more or less at variance. There
are undoubtedly some hopeful signs. Crops
are now practically in, and there is early
promise of an agricultural
wealth. Money is beginning to accumu-
late and the banking world is inclined to
increase moderately merchantil credits.
Besides. in many lines of merchandise
stocks are low Inc onsume are near
the point where they will be forced to
buy. But 1t is likely that business will be
done on the hand-to-mouth basis for some
time to come because ever the business
world is not inclined to buy heavily in
a declining market.
Following is the compilation of figures
by the New Jersey Commerce and Finance
showing the condition of local banking in
situations for the week ending Septem-
Der 81: The combined statements of the
National Newark Banking Company, the
Essex County National Bank, the Mer-
chants National Bank, the North Ward
National Bank, the Union National Bank
and the National State Bank, made at the
close of business under date OF September
is, show the following aggregate items:
Loans and discounts, $S1, 440, 1881; bonds
and investments, 3.32s, 1851; deposits, 3d.
900, 112.73; due to banks, $1,475,54425; cash
and reserve, $7,146, SO4. SS. and due from
banks (other than reserve agents., $2.3I5,-
572. rs. The combined statements of the
City Trust Company, the Fidelity Trust
and the West Side Trust Company. made
at the close of business under date of Sep
TENDER is, show the following aggregate
items: Loans. $40. 1856. 6S4.S "a; investments,
s13, 726, 101. 81; due from banks and cash.
81, s91, 1887; due to banks, $2,029, 774.25, and
deposits, $14, sS1, 262.S
Inactivity, which has been the predomi-
mating feature of the local securities mar
ket for fully one year, and which has been
so often commented pom in financial
circles, continues, with not the least pros
pect of an early awakening. The change
in quotations, however, did not vary over
the past week. Money in ewa is be-
ginning to show some signs of reaction
against the hardening tendency, but total
loans in local banks have decreased These
loans have been made chiefly to manufac-
turers, while money can be obtained by
brokers only on gi1t-edged securities.
New York dealers feel sure hat the de-
mand for bonds will materialize as soon as
money conditions improve and they look
for easier money after the first Of the
year.
It is likely that further concession in. the
price Of copper will be made by the sell
Ing agencies this week. 1t is the object of
the leading producers to find a price basis
upon which transactions can be made. No
transactions OF consequence are being made
and all the buying that is being done is
on a very small basis.
Governor Stokes will deliver an address
of welcome at the meeting of the Amer
lean Bankers Association at Atlantic City
next wednesday. 1t is expected about
1000 bankers from all parts of the country
will attend the annual convention.
-
The total amount to be paid out in Octo-
~, dt,,i5enas and interests nv railroads.
sd,str,a1 ,,t,Iitv and r,ning comnanies
III, he exc ooo ess os coponared with s12a.-
Gee aos go ogo IN +be same month
Tssss a. - ,nors.sa IN oyer,, ton, In
s,'ssena. ~. ra,,~oods vii, d;sbursa AK
600 100 a. corna rcd with $40 aga 7o2: the
,nd,st~,sis snd m,scellaneous companies
IN 80, o,t sse oss osa a !, onnosad 10 ssL
POI, s6o. In interest," the railroaos VIII pay
$50, sos'2 o4, as compared WIN szU,ooo, 9o9'
Whiie the lnoustrlal ano Ihiseelaneou
companies VIII oispurse eio'A7o'N'A as
against $o'V2o'4l4'
r.aa uJas.a~n 1,ras -onort roads
i"', - Lr.oss 80 80, ,n;th con-
4 a.sin ~noyarnsn+s ond healthy
~ 49, .uano Oes s;aIs 49, tho,
ilei sratstIaa1,, % M,
peopie niay 'aln 90 .a:S.
me y. ~ naa.;SIe 80 80 ~.
y, tho ,narLat for aouinnant FOR any
length of time. Oficials of lines touching
every part of the West declare that there
is plenty of tonnage In the aggregate. They
do not hesitate to state that some lines OF
trade have shown considerable contraction,
but in other directions there has been
enough steadiness or even gains to even
things up pretty we'll
T. A. Mcintyre q co. say; AS we nave
-d-nsv ers can be safely purchased tc
laa NO. Tor : long mil Snetplativelv
we shoulo prefer s.chins 70 ,he acuVe