The Newark star and Newark advertiser. [volume] (Newark, N.J.) 1909-1909, 1909-07-08
WALL STREET NOTES.

"
The corn crop Is up to the best ex-
pectation; in other words. the big
grangers roads ought to be bought.
There will be a good yield of wheat and
a bumper yield of corn.
Uptown Sentimental was the rather
general opinion uptown this morning
that if the government crop report to
be issued this afternoon did O fall
below expectations there would be an
other trong closing to the stock mar
ket, although the professional element
may ave made operations discounting
the character Of the report. 1t is be-
lieved that there is a large element
among the public that has been wait
ing for an authoritative disclosure of
agricultural conditions, as the Fedora
monthly veport is general accepted as
being. Therefore, the effect of the pub
lication today may be to increase pub
lie participation In the market, in
which case professional traders may
take advantage of the renewed demand
to realize profits on earlier purchases.
Baltimore and Ohio has been a good
deal Of q puzzle to the traders for some
weeks. The common stock receives 6
per cent. dividends, the declaration of
the next one at that rate now being
imminent, but It sells at around lis.
Comparisons with other railroad stocks
are naturally suggested. Atchison.
paying only 5 per cent, but with ex-
pectations of s, sold yesterday at only
aboute.a point under Baltimore and
Ohio. But Atchison sold about Z points
higher yesterday than 1t ever did when
1t paid 6 per cent, it's high record dur-
ing that period being around 10. New
York Central. paying 5 per cent. sells
around 1873, and Louisville and Nash
Vile, now paying 6. commands a mar
ket price of 141. The list might be ex-
tended, and would still show a marked
discrepancy between the price OF Balti-
more and Ohio and other railroad
shares. Apparently either Baltimore
and Ohio is selling too low, or the
others are selling too high.
Today's stock market was expected
to show some signs of what Its imme-
date tendency would be. Increased ac-
tivity was confidently expected after the
publication of the government crop re-
port this afternoon. Indications this
morning were that good support would
be found, and that stocks would be as
readily absorbed as on recent occasions
whenever there was any selling in the
market.
The b~ondholders' committee OF the
Western Maryland Railroad Company
today decided to declare the principal
on the $40, 900 900 of convertible bonds.
This. as explained by Chairman Alvin
w. Krech, means hat the work of
foreclosure on the property will go
ahead. The committee will hold fur
ther. sessions this week and some fixed
plan of reorganization probably will be
announced next week. Pending this
announcement the committee declines
to confirm or deny the report that a
$40 assessment is to be levied on the
stock.
Stocks should be bought on any re-
~cesstonary movement developing to-
day owing to proft-realizing or any
other III as aggressive bullish ac-
tivity is likely to be resumed suddenly"
said an authority on Wall street today.
The meetings of the International
bankers, SO far as London is concerned,
have been concluded without Irangs-
ments for the participation of Ameri-
cans in the Hanlkow-Sze-Chuen rail-
road loan of s27. 500, 900 being agreed
upon. The negotiations. however, are
still going on. and further meetings
will be held in Paris. I'M probably in
Berlin.