The evening star and Newark advertiser. [volume] (Newark, N.J.) 1907-1908, 1908-01-23
BUSINESS AND NANCE.
AND NOTES
FOR 1--WE T0RS.

~ -
President Mccres said that the Pennsyi-
yania lawyers are still at work on the two
cent rate decision.
The Guggeuheimers are quoted to be nat
urally bearish on the smelters stock. They
were openly bullish when the stock sold
around 100, aud much questioning is going
on due to their attitude to that stock.
The Iron Age today says that the prices
for lake ores for the coming seaso may
he settled at an early date. There is a
strong feeling maintaining the Prices. While
a majority of the sellers sell on q uniform
price, a number Of smaller concerns go be-
low their prices. Considerable larger tom
mage of foundry and forge iron has been
placed since the beginning of the year
than the general trade has realized.
Time money In New York was loaned at
AZ per cent. for as long dates as ninety
days. This is the first time this has been
in evidence as a noticeable feature for many
months.
Five New York Produce Exchange mem
berships were sold at auction, three at $225
each and two at s240 each. The previous
sale was made at $500.
II. II. Rogers has returned to wal Street
again, apparently well from his paralytic
stroke which prevented him from testify
ing in the suit brought against him by
Boston men.
Next Tuesday the United states Steel
Corporation will issue its report for the
quarter ending December 81 and dividend
action will be taken by the directors.
About As per cent. of the blast furnaces
are in operation and it is estimated that
the corporations untitled orders are a little
over 1900. 900 tons. The earnings are pre-
dicted to be In the neighborhood Nof $4,000
900.
The New York Central's option on the
New Ravens holdings OF New York,
Ontario and Western stock has been ex-
Tended to an indefinite period.
Announcement was made of the organi-
cation of the cement manufacturers of the
country under the name of the Association
of Licensed Cement Manufacturers 1t in
cludes the large cement companies of the
country.
The question Of a general reduction in
wages has become an acute question with
railroads. The continued railroad earn
ing decreases are nearly compensated by
the laying off of hands. A general re-
duction will certainly be avoided by the
Dot NV ~ IaAS8 301AS
OF the railroad officials have been express
ing on the subject, If it cannot be avoided
tse contemplated reduction will nave to go
into effect.
In speaking with brokers trying to get
their opinions on the market and what
they would advise one to do, they seem
to be very shy when the question is put
up to them. This makes a large number
of people who are willing to trade
conservative on account of the action taken
by the brokers. There are many reasons
attributed to this. The conflicting news
In the most unfayorable manner is a de-
pressing factor. II there are good re-
ports from one part OF the country there
is something else that springs up that
Is demoraliZing. This can he detailed into
many different forms, and when every
thing is gohe over and digested the In
sea. But the latter uses what he can
make more fruitful to himself
Acknowledgement Jackson, OF New
York, rendered the opinion in accordance
with which the bonds of the Missouri
Pacific Railway Company will be stricken
from the list of savings bank investments
in New York State. The reason given is
because the Missouri Pacific failed to pay
one year the dividend,
The fourth annual convention of the
North Carolina Cotton Growers Associa-
ton. after a meeting of unprecedented
interest and attendance, was adjourned,