Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-07-23
LOCAL FINANCIAL NEWS.

The decision Of the United States circuit
court In reversing the decision of the
United States district court of Illinois in
the case of the SO, OOO. 600 fine imposed
upon one of the companies of the Stand
ard Oil corporation did not come as a sur.
prise to the stock market. In the sense
| that it was believed the ruling of Judge
Lands would not stand, the decision had
been anticipated in the market some time
ago. and its effect was therefore dis
counted.
1t is noted that the company's policy OF
silence in regard to its affairs has beer
| set aside to- certain extent, and of late
statements are found in the financia
| journals. as is the case with most other
| corporations, giving some of the detail.
of the business done. rather than the re-
| suits as shown by the net profits.
| The stock has also recovered from the
| low levels which were reached several
months ago. The Wall Street Journal, ir
commenting on the decision, says: III
even the Standard Oil Company can Sc
cure protection in a court of law in the
year 1903. then surely every investor the
world over can feel more secure in his
property rights.
Thirteen shares of Georgetown Gas
stock. which has been seeking purchaser
for several days in vain, today, at the
meeting of the stock exchange We're sold.
The bid for the preferred stock of the
Washington Railway and Electric Com
pany made an advance from 70k to I91a.
with the offering at point higher. There
was nothing done in this security, and
not much of consequence in anything else
on the list
The record of prices for breadstuffs
July / shows a decline as compared with
those of June I, with the exception OF
corn and buckwheat. In the case OF
! wheat. oats and rye the reduction is from
one to three points in bushel prices.
The rise in the case of corn Is attrib-
uted to unfavorable conditions for the
new crop. 1t is expected that the wheat
crop in this country will be somewhat
better than the average, while that OF
Europe will be below that average. and
this taken in connection with last year {
shortage. will have an influence in the
world markets.
While such legislation as that which
created the New York public service
commission, which is just completing Its
first year of existence, is regarded In
some quarters as rather hostile to cor
porations, yet that is evidently not the
only view.
A recent circular of an investment
house in New York, calling attention to
the securities it offers for sale OF one OF
the public utility companies OF that city,
states:
Another feature in connection with
these bonds, which should add to their
attractiveness to individual investors, Is
the fact that, In common with all otheI
public utility corporations in the state
Of New York. the properties are under
the regulation and supervision Of the
public service commission"
During the month of August the dis
bursements on account of interest and
dividends of the various railroad. in
dustrial and public service corporations
of the country will amount to nearly
$50. 100000, the smallest amount dis
bursed on that account of any month of
the year. The July period witnesses the
largest payment, as it then aggregates
over $19O,OOO,OOO. January comes next
with nearly $1S2, 200. and in April
over $135, 600, 600 are paid out.