The star and Newark advertiser. [volume] (Newark, N.J.) 1908-1909, 1908-11-25
Public Service Issues Absorbed
by Banking and Private Inter-
ests on Big Earnings.
GAS STOCKS ALSO HAVE
STRONG FOLLOWING
HeaIthful Sign of Further Uplift
in Steadily Increasing Odd
Lot Investment Buying.

Industrial circles have shown marked
improvements in local conditions. These
improvements, no doubt, nave been
caused by the unmistakaple signs OF
returning prosperity looming up all
over the country. And accompanying
the improved conditions in local and
general business, another and still
greater Improvement has been noticed
in the Newark market for local Sc
~curities. The market daily shows
stronger tendencies to higher levels in
its activity and strength, and trading
is being done by the very best class OF
conservative investors.
Many reasons are given to explain
the cause of the pronounced advances
which nave taken place in all New Jer-
sey securities during the past o or
two, and more particularly within the
last ten days, during which time the
market has witnessed strength of phe-
], nomenal proportions.
These advances have been due, in
part, undoubtedly to the exceedingly
!. dull and inactive market in local in
vestments during the past few years,
caused in great measure by investors
diverting their attention to the New
York stock market, which then offered
more attractive Inducements with
quicker returns. In the resultant lull
In trading local securities naturally
fell off considerably In prices. The de-
preston Of last yea also gave values
a forcible blow and prices were again
forced lower, reaching levels out Of all
proportion. to the intrinsic worth of the
underlying properties.
Small Investors Take Hold.
AS general conditions progressed dur
Ing the hard times so did the local
security market. until about three
months ago, when considerable buying
In small lots manifested itself. Since
then trading has increased n in al
most every instance the securities were
paid for and at once taken out of the
market. This has put the local market
In a much healthier condition than it
has enjoyed for a great nan years.
The recent Improvement and activity
In trading do not seem to have been
confined to any particular issue or is
sues of stocks and bonds. with the ex-
ception of Public Service Corporation
certificates and Consolidated Traction
Company stocks. Aside from the
slightly more pronounced dealings in
these two lines of securities, interest in
the general list seems to have beer
revived. Newark Consolidated Gas is
being fairly well traded In, selling at
92; Bergen county gas stock was
largely sought for at So with none
offered at less than 81; Essex and Hud-
son, ex-dividend of 4 per cent. sold at
l124; South Jersey Gas, ex-dividend of
1 per cent, soh at 121; Hudson County
Gas, ex-divfdend OF 8 per cent. sold at
1121s; while Pat and Passaic Gas
stock, ex-dividemd of 2 per cent, sold
at sou.
Heavy D~emandafor r. $. c. Securities.
Probably the largest transactions
during the past week were in Public
Service Corporation certificates, one
sale OF 10000 having been made to a
large banking house in New York at
practically the highest recent prices,
1875 and "a. The demand for these GER
tifcates is heavy, but offerings are very
limited.
The stock of the Consolidated Trac-
ton Company also experienced con-
siderable activity. This re pre- ents the
uHucIlyllS SlOCk OIL Hi the traction
properties In this section. When it was
paying S5 per cent. the stock was SELL
ing at 81, and during the recent slump
it was sold as low as 81. 1t has since
been put on a 4 per cent. basis and
has been attracting the attention of In
vestors here and elsewhere. The rise
in 1t has been a gradual one from 81
to 70, where there was heavy demand
for 1t, both here and in Philadelphia.
This caused a further advance to 73k,
and several hundred shares changed
hands at that price. The Philadelphia
Exchange on an offering of 500 shares,
caused the price again to recede to 72k.
where it was quickly taken up by New
ark investors, who Immediately put in
another order for 500 shares. Philadel-
phia was unable to supply the demand,
and the stock advanced from TN until
10 was bid for any part of a thousand
shares at a private sale. ".
p. $. c. Making Record EARNINGS.
In an interview with an EVENING
STAR representative, Mr.. King, Of
Eisele & King. said: One of the
reasons that can be ascribed to this
recent good movement is the fact that