The evening star and Newark advertiser. [volume] (Newark, N.J.) 1907-1908, 1908-01-09

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An English estimate of Great Britain's
investment in United States securities and
enterprises is So, 5O0,0o0,00o.
Chicago advices quote John J. Mitchell,
president of the Illinois Trust and saw
ings Bank, as saying that the general
business situation in the West is steadhy
mending He believes that money will be
! great deal more plentiful for commercial
purposes by the middle of the month.
The receivership of the Chicago Great
Western Railroad had practically no erect
except to emphasize talk of the POSSIBLE
ity of other ~receiverships in the immedlate
future. This was more or less expected
for a couple of days, as run1ors galore
came from Chicago saying application
would be made for the appointment or re-
ceivers.
Wall Street in leral is criticisins the
Aldrich currency bnl and believes 1t can
not be passed.
Wall Street has been trying to solve the
problem what held up the hard coalers on
the board. The record-breaking produc-
ton of anthracite Goa seems to explain
it all now.
Railroads in the Southwest report that
| cotton is moving more freely. 1t is said
that farmers are not holding the connnod-
, ity for any higher price and that the
easier money situation there has helped
quite some.
Since the organization OF the United
States Steel Corporation new construction
has been paid out OF earnings to the eH-
tent of $1S1, 900, 900, which is about $7 a
share on the common stock.
No. o- p.a1fHa1 hat f.1ar0n MHct-
irghouse will personally subscribe Tor 50
per cent. of the proposed issue OF S~1.N0.tOG
of new stock for the rehabilitation of. the
westinghouse Manufacturing and Electric
Company.
1t is reported that Secretary Of the Treas-
ury Cortelyou will issue a call soon Tor
the return of additional government
moneys on deposit in national banks. A.
ready between s5.00N.0oo and &.oe0,Ooo on
deposit in New York has been recalled,
and it is said that the next call will ne iut
5000 coo.
For the first time since September %
call money in New York was quoted late
yesterday as low as . per cent. This is
only one of the many indications that the
money situa ton is arriving at It's norma.
state OF affairs. The Gearing house GER
ll1tdIeS III IRN lOIh dIC DtiuS ldplulJ
retired, the premiums on money have dis
appeared and tho interior banks are feed
ing the metropolis with ample funds. so
that il the government does recall some OF
its deposits this month 1t will not affect
the New York banks any.
1t is not believed that the opening Of The
Brooklyn extension Of the present subway
system will affect the earnings Of the
Eroak1va Tapid Transit for n while at
least. The reason given is that the subway
branch is so much shorter han the trolley
system, and those who ride OH the subway
will have to pay in many cases double
fares. In time, however. the earnings OF
the road will be materially affected, be-
cause the subway will be heightened, and
double fares will disappear.
SO far this week there has been no fur
thcr changes in steel prices.
Post & Flsgg say: w fully believe, as
we rave said right along. that it Is inn
possible to have any sustained bull mar
ket at present. but as we have also main
tanned. we believe it Is only natural
during The first, few weeks of January to
see materially higher prices. This is
merely the usual rebound from the low
panic figures as general conditions return
to a more normal basis"
In treasury circles it is thought
that another call for return of govern
nlent money held in national bank de
positaries is not imminent, but may be
expected within q week.
We learn from an authoritative source
that the Pennsylvania Railroad Company
is not contemplating any financing at
the present o, in the near future.
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