The star and Newark advertiser. [volume] (Newark, N.J.) 1908-1909, 1908-03-07
IMPROVEMENT IN
LOCAL SECURITIES
MARKET HEALTHY
Increase in Volume of
Transactions in All
Grades.

"A vast Improvement WIS Se6H Al TN
local securities market this week fol
the first time in many weeks. The de
mand for inactive securities was the
noticeable feature. All grades of stocks
and bonds were bought and sold more
freely than for some time, and prices
were upheld well in most instances.
Advances in nearly all cases were
scored with afew exceptions. The
bank stocks were sold this week freely,
as we'll as municipal bonds. Both of
these grades of securities were a drug
On the markell
Money c~ontinues>to be tight, but some
freer. The banks have plenty of eur
rency, but they still insist on following
out their conservative plans which they
have rigidly enforced in the last eight
months. Money can be obtained only
by offering collateral, and loahs are
hesitantly made. Those who have not
h~igh-grade securities to offer as
collateral pay the maximum rate, with
only a limited amount of the currency
given. Money is, however, becoming
easier. The spring trade has not come
upon us with the usual rush, and the
strain on the banks available funds are
not 81 persistent as usual at this time
of the year. This leaves the bank in
a freer position to manipulate its funds,
and brokers anticipate that banks will
soon come into the market buying. up
the cheap underlying bonds and other
legal cheap securities.
The accumulation OF the Public Serv-
ice certificates between the prices of 50
and so seemed to influence the market
for underlying bonds. Public Service
certificates have been bought In large
blocks since they touched SIS, and on
the scale up the buying has been more
freely than it has been for many
months. The buying up to so was of
the investment character and accumu-
lation was in evidence in many iu-
stances, but when 81 was asked the
in that security suddenly
stopped. The notes are unchanged and
the activity in the certificates has not
in any way affected them. The last
sale in them was around 81.
Bank stocks were bought and sold, as
compared with their former market
activity, favorably. Fidelity brought
nearly 700.
American Life Insurance was the only
insurance stock dealt in. 1t a how
ever, off a little. Its present market
value Is between Ais and 420.
Among the gas issues transactions
were made in Essex and Hudson at 40
and Ill, South Jersey IS at 1917, while
the stock was sought for 81. Some
H11nGnn CntntxY sold for 0oK Nnu,ofIy
Consolidated Gas SIS was bought a little
above par and Paterson and Passaic
stock was bid So, but the market
for them was not under 10.
The fractions were also better in de-
mand and higher in value. The electric
issues encountered the same trend.
Railroad stock was disposed of
at 102. and Norris and Essex short
term bonds were also up being sold for
III. Consolidated Traction SIS were at
par, and White Line bonds around So
and so.
Municipal bonds were not as active
as the other issues. but were bought
in larger volume than for the past
Essex County bonds brought
102 and the City of Newark school
bonds sold for 1929 The City of New
ark will pay o out of its sinking
fund about 81, 800, 900 on short-term
bonds that fall due, as we'll as interest.
The market as a whole acted mate
rally better and the brokers feel the
result. Trade conditions are lettering
daily.
The following is a list of the local
securities, with quotations by EISELE
. KING, members New York and Phil
adelphia Stock Exchanges: