New-York tribune., 1908-11-29
The Financial World.
THE TRIBUNE'S FOREIGN NEWS. ~-

Professional spectators have wsssd soma
pretty fights during Thanksgiving week-but
there was not much sauce for pessinist tur-
kew. Business improves Money stays chsac.
Public confidence expands
F-uropesn interest in American sscurftis.
shows through notable incidents-illustrated IN
the adoption this week Of United States Rubber
Arst preferred shares by the Paris Bourse. This
means certifcation By the French government
II means more-certhcation by fnancisrs that
there is an actual field. even demand in France
for such American issues. intrinsic worth and
dividend ability tested and assured
The favorab bic international status acquired av
the United states Rubber Company IS incident
ally shared by another American enterprises
new European interest developing in the Bruns-
wick COMPANY whose shares. to which attention
was here directed at a lower figure, have deyei-
oped buoyancy-f5r a reason not forecast n
vestigstion of the conpanEs uniqtse status
large assets and no penny of deDt-nss mad tns
result Of inducing investment ABROAD ln1Dor-
tant enough to bring about the listing 0f Bruins
wick stock upon the Amsterdam stock Ex-
change 1t would be difficult 10 suggest certih-
cate superior for Hollands bOdrse Is not TOO
liberal in it's attitude toward foreign securities.
Merit there has TO be well proved further
7 feason-nOt unrelated il may Oe-Fhi be dis
closed if there be early realization OF the vel
advanced plans for Identifying the corporations
real estate assets with a broad Industrial DE-
velopment.
Even in the market for mining securities signs
of improvement appear-and such signs are
encouraging for only foolish people can hsvs
prejudice against mines simply because they
are mines Richer Cobalt discoveries and Won
derfui Developments in Nevada. particularly
CoIdfeld and the famous old lodes Of ths
, Comstock: extraordinary progress Ia British Co
IunSia and in Utah and Montana-there ara
new records sufficient to base broad coHhdeacs
upon Test for investment should be the char
acter Of a property's management-and thaTs
not diTicuIt- British Columbia Copper- f0r ex-
| aupIe. is certified by directorate names Ike 2.
! I. Underwood. Charles A. Starbuck Colgate
bovt ]. c. Rein and Anthony n Brady-and
added is the disclosure that the company nov 8
earning over 10 per cent DIVIDENDS
Similarly there Is confidence IN STOCKS ttss
United Copper and Ohio Copper. whose produc-
tive capacity fleets those maximum practical
tests to which any property Is put DeIore ae-
ceptanCe by r. A Heinze- ONO. ss4IlAs d.
naftv ag1Ire viii not surprise experienced mia-
ers if it turn quickly into BONANZA New YORK
capital ($2OD0O0tp has Just been undef"rituen
TO hasten it's development work
Another property into which new large New
York investments enter Is the Cumberland Ely.
tba richness of whose returns has become
ing-even TO its millionaire SmeltinS Trust con-
tr0lIers Properties apart from the mines them
selves are yielding profits enough 70 pay per
the Nevada Northern Railroad-while its copper
mining returns are showing phenomenal Taius
increase. estimated at over another per cent
The stock used to sell much nlgner than rs
preseDt price before aught approaching tne de-
veIopment represented now by monthly output
beyond a million pounds
In natural drift of the market toward popu-
Iarity for standard shares not Yet much in evi-
dence it is likely that prominence VIII be COM
manded by both the common and preferred
shares Of the 500 System New York bankers
with intimate foreign connections have been per-
-T--- -r-1-N N-v-
ing with much adroituess to conceal their trans
actions This of course. indicates accun1uia-
tion-not disas ssociated. perhaps. with what has
been quietly forecast as the official purpose 70
increase the common stock DIVIDEND from %
per cent. Materially more is being earned anu
the suggestion Is sufficient 20 warrant the Ut
most carefuIness Of market procedure upon Ihs
part OF the LondOn-New York capitalists seek
ing 20 absorb any stock available here and in
Montreal When 500 common was receTVlns
only ( per cent dividends Il sold at 100 more
than 25 points higher than now when ID Per
cent is earned ard the rise from TO per cent
close at hand
One heaIthfuI development Of the week shows
in appreciation Of facts regarding the Missouri.
Kansas & Texas Railway pointed out in this re-
view-both preferred and common advancing.
1t looks like the beginning Of a substantial
movement. But something depends. Of course,
upon the eariiness with which public a-k1cvl-
edgment is made OF the progress or plans FOR the
absorption Of the X 7. lines fnro The Burllns-
ton OF st. Paul. In either case K T. net earn
ings would. of course, be forthwith increased
Observation-Disclosures the long anticipated
epoch Of K T common dividends TIE New
York News Bureau. recognized as the conssrvs-
tive authority Of Wall Street makes the specific
statement that X I common stock Is oelnS
accumulated in the interest OF the ST Paul.
which it is said will operate the road on
guarantee starting With per cent. on the COM
mon in the first year and increasing 70 and I
per cent. in the two succeeding years
Chicago & Alton value begins to tell natu-
rally. That stock till now has been held back
by sheer force. Though 1t is known that Official
announcement must soon be made Of most IN
spirltng development. earnings showing
over 10 per cent. earned on the common STOCK
though varied iRdisputabIe reasons for hs5S
market quotations are obvious-no market ss"
tfvity has yet gained any such hesdway as facts
to be disclosed VIII Justify But. Of course such
a state of things is too abnormal 10 be more
than very transienJ-as some indication ap-
peared at the close of the week. Alton common
than il is under 30
Present owners of Alton control have been
invited TO name a price for the prOperty-in-
vited 1t may be suspected. by a bidder who
looms masterful figure in the railway world
to- day.
Under it's present management Alton Is revc-
lutiOnized completely II paid it's first dividend
OF one per cent last summer Barely a month
hence 1t will have that dividend rate largely In
creased-to per cent. This. OF course. can
scarcely fail 70 advance Alton stock materially
particularly there will be an official sx-
htbit showing over 10 per cent earned All but
about $4,000 shares of Atoms total common
stock is locked up for control in the treasury
of the Toledo. ST Louis and Western Railroad
the supply OF stock in Wall Street being SO
limited as TO make the stocks price respond
promptly to even slight new outside demand
Alton common thus unique both from the
standpoint OF vastly enhanced intrinsic valus
and It's technical market position. IL isn't con.