The Newark star and Newark advertiser. [volume] (Newark, N.J.) 1909-1909, 1909-05-24

oheerfully disposed han 1t was last
week, although nc extensive buying Is
reported in brokers' offices. The re-
markable ease with which Steel COM
mon advances TO new high records is
freely commented on in all parts of
the street. London was a buyer of
stocks during the early operations.
That city was reported bullish today on
copper stocks. Some of the active
SPECTATORS are looking for a broader
market as the week advances. Houses
thai should be in a position to know
say that John w. Gates is not an &C.
tive factor in the stock market at
present.
The movement of prices last week.
brokers said today. suggests that a
point of equilibrium or rest has been
reached, dealings having been re-
strieted to routine or professional type.
Time money was unaltered today at
pa per cent for thirty days; 2h to 2h
per cent. for sixty days and ninety
days; 21z TO "a per cent. for four
months.
The National city Bank says the
Armour $50. 900. 900 bond issue has been
many times over-subscribed.
The management of the First Ma
| tional Copper Company has decided to
issue ST. 900, 600 8 per cent convertible
bonds. The bonds will run for ten
years, but will be converted. into stock
at $40 a share at any time within FIVE
years. They will be offered to stock
holders at par. The proceeds will be
used to take up $4,000 Balaklala Con-
solidated Copper Company's first mort
gage bonds, of which $4,000 mature
on July / next. and the balance on
July 1, 1910. OF the remaining $3.50, :
900 about so, 900 will be required for
interest on the Balaklala bonds. and
the balance viii be applied to working
| capital. which viii then. it is said,
amount to at least s70O,000
Stock transactions: Alfred Eckstein
sold 1000 Shelters. The Following
bought Reading: G. b.. Salisbury Co..
1000; Barr & Moore. 1000; Hartman
Co.. 1000; L. Wormser and Watson
Kelly, 1000; Malcolm & Commbe bought
5000 Republic Steel common. The fol-
lowing bought Southern Railway: Hal
sted Hodges, c.. b.. Mcdonald and
Duryea, Tappin Co, T%rowbridge Co,
and Ladenburgh. Thalman Co. bought
Steel common.
Covering orders, particularly from
America, carried prices above parity In
the London market. Low-priced stocks
were favored, and with Wall street sup-
port the market closed firm.
The foreign exchange market became
a shade firmer than the start, after
midday, showing an advance of 5 points
from opening cables quoted at 4.8795m
ASS. Demand sterling at 4.S7&M4.Si.S 80,
and sixty-day bills 4.S630@4 $3.50, short
francs BLISS less 5:64. and reichmarks
95h@s5s plus 1-32.;
In it's weekly crop report the Hal
: Baker Grain Company, of Kansas City.
says. The wheat crop of Kansas has
been greatly benefited in Tire past week
Soft wheat in the western part of Mis-
souri, and southeastern part of Kansas
scarce. Corn is practically all planted.
Early planted is coming up nicely.
Western houses reported that while
the public sent in a good many orders
these were largely on the selling side
and represented proft-taking ON com
mitments made weeks ago, wnen the
talent in Wall street had little faitf
in the movement. A large section oil
the Western element has learned how
tn trade. and If II shows more daring
than the average Wall street man ir
ma commitments n Is a,,iel +,
fouit when If sees evidence az 3 move.
ment having about ~reacl3ed its tor.
mination
Snrn,isa u,as today evnressad ~ n,
verv ,noderata asnonsa given ~ III
advapc IN +ba uilI stocks bnt nor.
100 az na++ar ,ro,,Id he hettar undsr
stooa riseacres said r. the Fact ,,-er.
not : = ganeralI disrega rded tba+ tai,
ipe riybts into -acco,nf e. panl is nov
WITHIN about - points OF the hlghes'
quota.ioh ever recorueu ior II,
1-x. ,+,man, NET afta. ~.
.Io.a 20 h,sinass a. cotn,aov sa,era
ant;,a anao,ratars n,bn bays hean soI.
Ioui,a h. 80 olosal, svnressed. IN.
o~ninia, tbat ~. marra this ,veel
Would he mera act,ye ana b;ybar Tn,
tarasts ~ tba wal5orf aistrict wh,
h ~ bea, crasitad Nth rather ,aro,
snee,latt,a oonmitnents in recAn,
,raeks exnressed the oninion thi,
morning that the advances were 1fI,eI,
- 10 nsora axtansive todav tban +bos,
.e-s -. ,.,o.,aa, po;l,va. .haros