Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-07-24
LOCAL FINANCIAL NEWS.


as some of the observers explained. be-
cause Of the decision in the Standard Oh
case in favor Of that company. while the
recession Of two or more points that took
place today Is attributed by the same au-
thority to the statement from President
Roosevelt published this morning in re-
gard to this case.
While Wall street appears to be sensi.
tive to current happenings Of this sort
the local market continues its course,
which of late has been rather uneventful
Today came near to being repetition OF
such experiences. and no doubt. in the
opinion of some. did not differ from those
that have preceded it. But a couple OF
salos of fifty shares each of the preferred
Electric Company at S0k and SOss. with
biz from one Of the brokers of SOh for
1000 shares or any part thereof. and an
advance OF point or so for such block
In Its entirety. rather took the edge OF
dizziness of the market This burst Of &C.
tivity and on higher levels did not amount
to much, as far as volume was concerned,
as nothing more was done. The higher
figures also gave way to 80 bid and 81
asked. but all the same the momentary
other security was as refreshing as a
mountain breeze or even the thought OF
one.
Operations were resumed laSC week at
the Greene Cananea Copper Company's
plant in Mexico. after a suspension Of
eight or nine months. 1t is expected by
the superintendent that 1t will be six
months before every department Of the
company is in working order.
The American Telephone and Telegraph
Company, which is the parent concern
operating some thirty Bell telephone COM
panies, earned net for dividends for the
Il.
So. $40 945. as compared with 81. O96.441 in
the first half OF 1907. an increase Of ST.
TAG. 534. or 24.6 per cent. This dividend
balance is equal to $40 per cent on the
1852, 4S4S55 capital stock.
OF the 442 miles of railway from Nor
folk. Va, to Deepwater. w. Va, $50
miles are now completed. The original
purpose of this road, which is a personal
enterprise of H. H. Rogers, was to make
now it is said that freight and passen-
ger facilities are to be provided. with
the view Of developing the timber and
agricultural resources of the region.
A uniform system of accounts of electric
street railways is proposed by the public
service commission of New York. A de-
tailed description of the proposed system
was sent to the various companies and
then a notice followed of a date when the
purpose Of receiving any suggestions
which the companies might make.
The system proposed Is similar to that
adopted for the various lighting com,
panies Of that city. and was devised with
the assistance Of the interstate commerce
commission. In general the system Is
made up of three schedules: A, balance
sheet accounts; B, income account, and c,
classification of car lines. car seat miles
and car hours.
Another Standard Oil suit Is pending
the one brought by the government in the
Missouri district to dissolve that corpora
ton. Further hearings are to be held in
September.
It Is understood that the plans to in
crease the capitalization of the company
from $1OOO0O.OOO to $500. OOO.OO0 await the
determination Of this suit One of the
reasons given for the proposed capital en-
largement is that owing to the high figure
for the stock, which varies from $500 to
500 per share. 1t is not readily market
able security. The narrowness of the
market for it is believed to be the cause
of violent fluctuations. and for the latter
reason it Is not looked upon as desirable
as collateral for bank loans.
It is stated that banks are unwilling to
take large blocks Of Standard OIL stock as
collateral for loans except on a big mar
gin.