The evening star and Newark advertiser. [volume] (Newark, N.J.) 1907-1908, 1908-01-14

character of improvement, that numerous
orders are now coming in and the steel
authorities express the opinion that Janu-
airy win show up considerably better than
December.
The demand for new issues of bonds has
also been OF an encouraging character. The
New York Central bonds held by the
Morgan interests in New York. who are
selling them. say that they nearly dis
posed of the whole s30,0oo,0Oo issue. The
bonds dealt in on the exchange Is also on
a large scale. All this tends to Indicate
that the money situation is improving. and
it also has stimulating effect upon sep1-
ment, which was almost entirely destroyed
In the minds of the Investment bhYiug
public.
The Missouri Pacific Railroad has ap-
piled to the New York Stock Exchange to
list $l,s25, 200 additional capital stock.
Directors Of the P%ittsburg Stock Elk
change voted again to keen the exchange
closed until the lattc- part OF the month.
An official statement was made that the
New York, New Haven and Hartford has
received between 100000 and 8 1000 900
advance subscriptions to the new issue of
Ao.ooo,ooo OF 6 per cent. convertible deben-
lures.
Very little iron ore was mined BY the
United States Steel Corporation from the
fIill properties last year. Under the con-
tract which the steel corporation secured
the Hill properties they will have to pay
a large sum of money for a certain mum
Der OF tons of ore mined during 1907 and
1905. The steel corporation so far naturally
has lost on the Hill properties, but under
favorable circumstances 1t is likely that
they will mine their full quota aud show a
ct increase at the end of the expired time.
Mr.. Cooper, of Cooper & Ripley, said:
There is nothing in the railroad or in
dustrial situation to warrant the strength
In the market. and much stock has been
distributed during the entire rise. We adj
Wise not to buy stocks at present on a
margin basis, because it is like taking
your life in your band.
A report that has been in circulation in
New York that negotiations have prac-
tically been completed whereby the United
States Steel Corporation will acquire the
Jones e Mclaughlin Steel Company was
denied at the Office of the latter company,
It is stated that there have been no such
negotiations and that, consequently. the
report has no foundation in fact.
The annual meeting of the American Ice
Company. which was scheduled for today,
was postponed until January so. 1t As stated
that the overtime given is thought to be
time for the directors to think the matter
of admitting certain interests as members
of the board.
Stockholders nf the Utah Copper Com
paDy will be asked TO consider and act
upon an amendment TO the charter of the
company Increasing its capital from -. 800
900 to $500, 900. all common stock, and to
consider authorizing an issue of s1.5OO,0O0
convertible bonds TO be secured by a second
mortgage on all Of the company's prop
erty.
A conservative capitalist in discussing
the recent sharp advances I'm the stock
market, said this morning that undoubted-
~ the present upward movement would be
followed by substantial reactions, but that
by investors the leading dividend-paying
issues must be still regarded as cheap.
While he would not recommend the pur-
chase of stocks at the moment speculative
ly. he thinks that the best ones can be
safely bought for Investment. While al
ready indicated. it will undoubtedly b.
possible to get them at lower prices a little
later on. he believes there will not be q
big slump in the next few weeks. APP
parently not a few spectators are proceed
ing on the basis of the foregoing idea.
Some seem to be very bUllish. x
-----