The evening star and Newark advertiser. [volume] (Newark, N.J.) 1907-1908, 1908-01-21

few days and it looks as il the dividend
on the stock will be either cut or passed.
Railroads in the Northwest in order 10
maintain the volume Of business, are NOV
ing every bushel OF grain obtainable and
draining the surplus of grain supply OF tne
country. For example, Minneapolis gets
1l.GM cars of graia against 90 cars 2
day, for the past two days, as compared
with last year.
Since money has become so easy in Wall
Street that lenders have to seek borrowers,
Secretary Cortelyou, of the Treasury, may
deem 1t wise to withdraw Government DC
posts from the national banks within the
next week. Money has been loaned freely
on call In New York as low as . per cent.
In the millions and with such an easy none
tary situation prevailing it would seem that
it was best for the secretary to withdraw
now and cause only a slight tightening than
to withdraw when money is tighter and
cause a stringency.
The Erie Railroad, if it sells its Lehigh
Valley holdings, as it is reported TO have
done, In order to get funds to meet note
maturities, will realize a handsome profit
on the transaction.
Final payment was made on the $4,000
900 5 per cent. ten-year debenture bonds
of the General Electric Company which
was Issued last year.
The low prices in mining stocks on the
New York outside market have been NOV
ing upward In sharp style. They have
been the centre Of interest and have
monopolized the trading on the curb.
The railroads of the country during the
past few months have not put in many ad-
vance orders for equipment. This had led
man, to think that the traffic situation
was in a most abnormal state. 1t is agreed
by all that the railroad traffic business is
not as good as that Of last year, but 1t
must be remembered that last year at this
time conditions were materially different
from what they are a. present. However,
affairs are adjusting themselves rapidly,
and II is only a matter Of a few months
before the railroads will be pushed to their
extreme in facilitating in order TO meet
the volume of business. Then new orders
for equipment will como fast again TO the
equipment companies.
1t was stated that the bltuminous coal
producers intend to cuctall about 50. per
cent. of their output. This would mean a
serious loss to the railroads, which rely
mainly or the coal for their heavy ton
Nearly 80 per cent. OF these roads'
freight tonnage is coal.
While the reorganization committee,
which is also STYLED as the protective COM
mittee OF the Consolidated Steamship Lines
has not brought out a plan for the read
iustment OF the several steamship lines
controlled by the Consolidated Company
enough has been earned, so 1t was stated.
to indicate that one OF the two companies
will be dropped from the Consolidated
Company. This means that the holding
company of $50. COB, 900 of bonds and $60,oo0.-
900 Of stock will be disrupted,
Newspapers all over the country and
bankers from the same sections are against
the Aidrich currency bill unanimously.
--
The New York Clearing House certificates
are being rapidly retired. Now there are
only about $50, 0O0, 900 in circulation out Of
sloo,oD,mo issued by the association.
William F. King. who has organized a
committee OF minority stockholders Of the
Metropolitan Street Railway Company, has
made public a series of letters which he
has written to District Attorney Jerome
suggesting that action be taken In bring
ing criminal action against those respon-
sible for the present conditions Of the
Metropolitan.
Pullman officials deny the report that
the plan Is to close on February /. No
such plans have been made, but extensive
curtailment is under way.
Tennessee railroads are preparing to fight
the order of the State Railroad Commits
sion reducing passenger fares from three
cents TO 2z cents a mile, effective April 1.
Sales of copper are being made on the
same basis as they a been for the past