The Newark star and Newark advertiser. [volume] (Newark, N.J.) 1909-1909, 1909-05-22

1ISl llOu6nl ne thdh6Co iio AiAho oe
was interested again in the stocks of
the Republic Iron and Steel Company,
an old fayorite of his.
For some months a firm impression
has existed in the minds of many
brokers that the Kansas City southern
is destined to wind up in the Hartman
camp sooner or later, n yesterdays
election of l.. +. Loree to. the chairman
ship of the board rather strengthened
this opinion.
Reiterations of reports that the divi-
dend rate of the Consolidated Gas Com
pany soon Will be raised has induced
heavy purchases of this issue.
The Western Pacific bond syndicate
which some time ago disposed of the
last of the $50, 600. 900 issue of Western
Pacific first mortgage bonds has been
closed. and profits of about 8 per cent.
distributed.
Market prices are at high levels, but
without excitement, s-says the Weekly
Financial Review today. s"The really
COtlStI NdllNG llfCSlOIF SCC9 'iltllS ~
tempt him at present prices. Some rail
road. stocks are reaching the high point
of pre-panic markets.; and industrials
have shown good advances. but not
proportionate ones. Large holders may
see al these levels opportunities for
realizing profits gradually on stocks
bought much lower down. Conserva-
tive people should use much care In
their selections. This does not mean
that the business of the country is not
steadily approaching normal, as indi-
Gated by the great underlying strength
in. iron and steel, which is widening
into other metals and other industrials.
Crop conditions are not adverse, but, on
the contrary encouraging. Outright
purchasers OF good stocks may look for
ward ultimately to higher prices. II
stocks are held regardless of declines,
more or. less-severe. which must always
be anticipated. but which in a market
like this do not usually occur until
after an excited rise. due to animated
public participation"
"The death of Henry H. Rogers takes
from the business world of America
one of the most powerful builders of
gigantic combinations and gigantic for
tunes. Whatever may be said about
the methods employed in the accumu-
lation OF vast moneyed interests in this
country during the last fifty years, the
great trade structures which have beer
built up have stimulated all trade. and
have gone far towards establishing
this as the greatest commercial nation
il any e > Mr.. Rogers had
probably the largest business interests
of the greatest variety, extending over
the widest area, that any mar evel
had-not even excepting Rothschild oil
Rockefeller. . " = To the powerful
steadying effect of modern business
combinations may be attributed tbs
fact that the death of one man holding
a position of SO much power, produced
no grave results In the business world.
Weekly Financial Review.
Weekly Financial Review toda,
says: The copper market continues
TO show indications of betterment. Cop
per producers are very optimistic, an,
some of them believe that copper viii
be established on a lucent basis befor
the close of the year. Another give
his opinion that the melting of cope
in the United States and Europe Is to
day fully equal to the production
which Notwithstanding is at the higi
point of 1900 million pounds per an
mum. In 1906 production was $50 mil
lions, and ten years earlier only 35
million pounds per annum. One of tn
selling companies says that exports c
copper how a remarkable power of ali
sorption by foreign consumers and spec
ulators."
Attorney-General Wickersham ha
sent a communication to Congress say
ing 10 steps have been taken by hir
or any department of justice officia
under his direction to "annul' the cor
tract of purchase or acquisition of cor
troll of the Tennessee Coal and Iro
Company by the United States Ste
;. Corporation.
The foreign exchange market was
E shade easier this morning, rates do
! clining five points.
That the trend of the market is dis
tinctly Upward seemed to be agree
on by the majority of the importar
spectators this morning, althoug
some were found who believed, whi
no recession of consequence is in sigh
the list as a whole will be restricted I
narrow trading limits for some HIT
time.
The present bond issue of Armour
z Co, 1t was stated today, will clean u
the company's floating debt and pc
sibly leave some. additional funds to
added to the company's capital.