The evening star and Newark advertiser. [volume] (Newark, N.J.) 1907-1908, 1908-01-22

AhoA oii1
tifcates out of nearly $i00. 600, coo au-
thorized are outstanding. The clearing
house, he says, expects to have the rest
of the issue retired within two weeks.
The 8 per cent. bonds of the United
Fruit Company have been stricken from
the list of the New York Stock Exchange.
1t is officially announced that the So
O00, 900 6 per cent. Missouri Pacific notes
which will mature in a couple Of months
will be extended.
Because of a mistake in advertising the
New York Central trust certificate by u
point J. =, Morgan & Co. will probably
lose $40, 900. These certificates when Is
sued were divided in several classes ac-
cording to the date of their maturity n
offered at such prices so that they may
yield the same. In advertising them the
firm made the above mistake which the
bond sharps realized and mad use of.
The urgent demand temporarily covered
up the mistake but when the issue was
sold and accounts made up the mistake
was noticed.
1t is said that the bondholders' commit
tee OF the Consolidated Steamship lines
would be willing to sell the Metropolitan
and Eastern lines If a good price should
be offered. The New Haven is believed
to be after these lines, but nothing has
been done SO far. The committee is not
DESTROYS of breaking up the combination
as far as the other subsidiary companies
are concerned.
J. p. Morgan is said to be preparing to
go abroad. While abrold he will try TO
restore confidence in the minds of the
foreign investors. 1t is also said that
hnfnro his ooae tbe Nauy Vorlr arfantrQ1 will
try and float another large loan. Last
year Mr.. Morgan went abroad before the
March panic, and also got rid of his specu-
latiYe securities. Mr.. Morgan has much
influence abroad, and his presence there
at this time would do much to better their
sentiment to our securities.
With a view OF facilitating the speedy
absorption of present stocks of diamonds,
the Premier Diamond Mining Company
announced a further reduction in their
output of 30,000 carats a month until the
present conditions better themselves to a
great extent. The diamond trade has been
seriously hurt during the recent financial
crisis in this country as well as abroad,
Luxuries have been so seriously hurt that
our imports of such articles nave shown
enormous decreases.
In the reopening OF the Pittsburg Stock
Exchange we find an additional evidence
that the business situation is daily re-
operating.
The net earnings OF the American Chicle
Company for the past year were 81, SOS, go
and the dividends amounted to 81, 260, 900.
The first big equipment order that has
enliyened the market since the financial
panic and consequent retrenchment by
railroads is about TO be placed by the
14ehigh and New England, a subsidiary of
the Lehigh Coal and Navigation Company.
Fl. McCourt. general superintendent of
the Illinois Central Southern lines, has
just completed an inspection of those
lines, and says that Southern trade is
picking up in a noticeable manner.
1t is true that large sellers OF copper
are beginning to limit their foreign cop
per export trade in the belief that they
expect domestic consumers TO begin buy
ing again.
Mr.. King. OF Eisele & King, said:
'l5ither buying or selling on margins is
not favorably accepted by us In our opin-
ion. The financial situation Is so unsettled
that it would be hazardous 10 deal in
stocks on that basis on prevailing condi-
tons. Stocks have reacted today and yes
terday only on pro~fit-taking, and look good
In standard issues for a turn upward OF
any further reaction. Call money has been
the cheapest in years, and a glut on the
market. with plenty Of borrowers. but very
little time money has been disposed Of.
Trade condition reports have been so con
hicting that the future few months Is a
puzzle. Earnings are poor. but tho roads
have shown good cash balances, so 1t Is
easily seen that foretclliug what is going
10 occur IN the trade world in the next
few months is not an easy task. Thc
stock market on the other hand has held
up well in face of adverse conditions, with
favorable condition backing and the sup
port OF the large interests. How long this
will continue is difficult to tell. but W.
would advise purchases on large margins
for good PROFITS on all proft-takins reac