The Washington times., 1907-07-21

gtttfs N WHICH CtSt a. VI the @Lyut-
600. 900 convertible bonds Will be sold
but not yet issued.
The new Consolidated Exchange build
ing at New York will be opened for ac-
tive trading on August IS. according 10
present plans The brokers viii transact
business in the present board room until
August u.
The saving habit thrlves ir Chicago
when Il gets a good chance. Savings de-
posits exceed $4,000. 900. as compared
with Sl49, 7l5.oOO In 1906.
Preliminary returns from the Northern
Pacific railroad show that the surplus
for the fiscal year viii probably amount
10 more than 800. 900. The regular
dividends will consume sl0,s50.000 Of this
amount. and the remainder will be
turned back into the property. In addi-
ton 10 this Il is said the road should de-
rive S6.0OO0o9 from its equity in the Bur-
lingtOn-
The Industrial Bank OF Japan viii
shortly issue a 5 per cent South Man
ehurian railway loan OF s20.O00.0oo at 81
in the form of railway bonds, running
twenty-five years. and fully guaranteed
by the japanese government
At one time Union Pacific was about
fifty. points below it's very highest price.
II solo al i45. which was the best quota
ton since May II last, when II sold at
1874. Its best record was over 1875
Conditions In the bond market indicate
that the very low prices now prevailing
are caused by the large increase in the
amount Of the new issues OF boRls, end
not to a decrease In the number OF in
vestors, according to n. W. Harris,
president OF the Harris Trust and Saw
ings Bank, OF Chicago.
a leading Boston copper interest says:
The large copper consumers IN the
United States cannot continue business
without buying copper. I figure that a
22-cent market Is safe until September !,
for as soon as the big consumers dis
cover that they cannot get copper be-
low that price, except IN a retail way.
they win place their orders
Stockholders in the Hartman lines re-
ceived during the fiscal year ended June
30. $50. 200. 900 in dividends, while the re-
naming surplus Is put at sc. 900 600, IN
round figures. According 10 an estimate
made By the company the gross earnings
Of the Union Pacific increased about S.
500, CO., and those OF the Southern Pacific
in excess OF 100000.
Interests back OF the movement TO
compe! the American Steel FOundFies
directors 10 resume dividends on the pre-
ferred stock take exception TO the state
ment OF Wee President Lamont that the
| bonus contract was not a secret and that
II was reported 10 the New York stock
Exchange The minority interests asked
for detailed copy OF the agreement
\ some time ago, but they have received
no reply TO their communication
/ With whatever acrimony Messrs. Hill
! and Hartman may disagree about most
things IN which their interests touch.
| they appear st the present time 10 be
going one way in the stock market.
Their stoel1s-Union Pacific, Southern
Pacihc, Great Northern preferred. and
| Northern Pacifie-are the only stocks
now selling higher than week ago.
The tax value OF property IN Georgia
is increasing at the rate Of more than
so 600 a year. According 10 the re-
! port OF the comptroller general. the IN
crease between 1902 and 1906 was from
$4s7, s1O.G46 to S6Z7 5s1 5Ss, or by SIOo 22o Ss3
The greatest increase was IN lands, from
/ $l24, 799,0ls to Sl5s,455.O40.
The value of the farm lands along the
Union. Pacific Increased by more than
s., 90, 10000 in the Ave years, 1900 10 IS06
! The United States census figures an ag-
gregate value for seventeen States in
1906 as ss.241. rs. s64. while in 100 1t was
only 5,693, 2S0 s72. THIS is an advance OF
nearly 70 per cent
1t Is said that Union Pacific is earn
ing % per cent on its stock. which. II
true. should set at rest the talk that the
10 per cent dividend Is not warranted
Furthermore. the Indications are, OF
seem 10 be, that this road, together with
the Southern Pacific, viii show for tn
year an increase OF $27.O0O0O0 In gros.
earnings. 900 in net, and an excess
Of 100000 IN surplus. This allows fol
full years dividend on the latter ans
the increase in the dividend on Uniol
Pacific.
Earnings OF the Amalgamated Cope
Company are running far IN excess o
the amount required to pay per cent
year on the stock, but it is not Hkel,
that II. Fl. Rogers Will sanction an in
crease In the dividend as long as tn
shares net the investor nearly per cen
on the market valuation as is the cas-
today.
The AmaIgamated Copper Company. 4
the first half OF the current year. re
: ceived on an average 231k cents for It
copper. It's net profits for that perio
, aggregated something like Sl4.O00.O00. an