The star and Newark advertiser. [volume] (Newark, N.J.) 1908-1909, 1908-12-12
THE LOCAL MARKET.


The local market during the past week
was somewhat less active than that of the
preceding week. and at the close the prices
we're confined to very narrow fluctuations.
All offerings. however, seemed to be road
lily absorbed without any desire to bid
prices up. At the present time the market
is probably broader than it ever has been.
1t Is not confined to the State of New
Jersey, but Pennsylvania, New York and
the Eastern States are now offering a mar
ket for the local securities. With this In
creased field it is but natural that the
.fAcI is bound to see very much higher
prices, as the only trouble heretofore with
local securities has been the limitation OF
a. market.
tinueuI active all week. they beng pur-
chased by the larger financial institutions
or adjoining States AS ther IS absolutely,
no question that these notes VIII pc palu
at maturity, they afford to Institutions IL
considerably larger return than the New
York market at present affords them; -
United Electric As probably showed the
largest advance during the week. ana ae
tunes they were in very active demand
From 7CA, the closing quotations OF the
previous week, they advanced and closed
ut 71a bid, offered at Y, with many sales
having taken place between those figures;
North Jersey Is sold as high as "A and
closed ut 1914 bid, offered at ~, Jersey
City. Hoboken and Paterson IS closed az
tZ4 Dlu OllcItu az - -
dated Gas IS at 10ila bid, offered at 10ob
Newark Gas Is mt 1870 bid: Newark passen-
ger 5s at 1872 bid, offered at Joy. Ihere
seemed to be a steady inquiry all week TOT
South Jersey Gas. Electric and Traction
Company IS. This offering is, compare
lively speaking, the cheapest or the . per
cent. issues at present IN the hialket ano
has not. had the advance that the merits
of the bond entitle it to. The closing quo
tation. 971a bid, offered at w. IS several
points lower than where they SOLD seVeral
Ha... fha- condition nf go n
property would warrant a very much
higher price than they nave ever sola lor.
Gas and Electric Company OF bergen
County IS, 1884, are sr1s pa. ooot terea a. tbe sH,
activity, selling as high as IS and closing at
I5A bid, offered at fo4. Ihefe mas peen o
large amount of this issue changing nahus
and the buying has been excellent. Pupilc
Service stock advanced TO very nearly par
and closed at 81 bid, offered at ". WIN
more activity than it has enjoyed TOT some
months. Consolidated Iraciiqn 1omP ar
stock, being steadily acquired by investors;
sold as high as Is during the week ana
closed at 1914 bid. offered at 1os4. Wltnlh
a very few days there Is Il Z per cent. wv,
dend to be paid on this stock, and as II IS
an underlying security, tax exempt IN new
Jersey, 1t certainly is very attractive.
The gas stocks were moderately active,
Essex and Hudson changing hands at ~
and closing at PAY bid. offered at l29A;
south Jersey Gas, Electric and Traction
Company closed at 121 bid, offered az ~;
Hudson County Gas at ll4'4 olu, ongleu d y
lis Gas and Electric Company OF Bergen
county stock was quite freely traded IN,
and advanced to 6112 bid offered at %;
There was some inquiry for the STOCK OF
Power Company, but as this is a very
small issue there is very seldom any Stoch
offered. 1t advanced from 81 bid, offered
at 60 to 60 bid, offered at 30. NeWar dS
bid, offered at 9S1a. This stock also sells
e~x-dividend of "a per cent. during the
mouth. after which it becomes a . pei
cent. guarantee issue.
The hank stocks were a little more active
than they have been. and there seemed to
be a demand around current quotatlois.
Union National Bank closed az a'zi2 old.
offered at $50; Essex County National Sank
at 800 bid. offered at32: National Newark
Banking Company at 39 bid, ofered at Ss5'
North Ward National Bank at 800 p1d;
offered at 375: National State Bank at 200
bid. offered at 210: Trvington National Bank
Mt 40 bid offered at t25; Manufacturers
National hank at 22o bid, offered at Nv.
There was considerable inquiry during Sne
week for Fidelity Trust Company. but
there seems to be no stock offered aroinld
current prices. AT the close 200 was DIG;
Federal Trust COMPANY advanceNtron
to 1871 bid. offered at 1872; West side
Trust Compan closed at 100 bid. offered Mt
200: there seems to be n good market for al
the stock of this company that is oiteTed.
Essex County Trust Company advanced 10
30 bid. offered Mt 225. Union County Trust
Company is 235 bid. offered ct $50: Mer-
chants National aBnk $40 bid offered Mt
800.
Tn our letter last week VIC made the
statement that the American Fire lnsur-
ance Comparv has earned 100000 In, SIX
months. AS thiss statement may have been
somewhat misleading. we wish to explain
that the increase was due to the rise In the
nrices Of stocks and bonds that were held
hv the conpnny, and partly due to the IN
tercst on their assets, but not IFS earh'n1s
entirelv. The stock closed at AD bid,
offered nj AGO. Prudential Insurance Com
many Is so bid: Newark Fire Insurance
COMPANY 7o5 bid. offored ut 24o; firemehs
Insurance Company 3e5 bid.