Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1909-11-12
Days Financial
News and GOSSIP.
Boston. Nov. II.


Since advancing its price for cleo
trolytic copper to 1875 cents, the United
Metals Selling Co. has made large
sales. Last week, while the 13-ceEt
price was in force enormous transac-
tions We're booked, and since the price
has been advanced 3 cent there has
been TO slackening in volume. Some
other agencies have also raised their
price to this level.
New Iork-The prospects of in
creased dividends for steel and iron
companies are better today than at any
time in history. Earning power of all
large companies is greater and with
record breaking earnings in 1910.
shareholders will receive greater dis
burScmentS
salt Lake City--The total output of
the Utah mines for October was 9.150,-
600 pounds. against 1G42J,0O0 pounds i'll
September.
Prospecting has been brought to "A
close at the Nipissing property for the
season. During the past summer ~
new veins We're found, of which ono
vein. No. 122, has already produced in
running the drifts. ore running high
into the thousands of dollars, and this
vein gives promis" of becoming one
of the leading producing veins in the
Nipissing property.
Montrcal-F. p. Jones. general man.
agcr of the Dominion Iron & Steel Co,
has resigned to accept the general
manaSerShir of the new Canada Ce-
ment Co, a new $50, 0G0,00o merger. ois.
the cement plants in Canada. sEk
New Tork-ThC average pricelbf &
active stocks at the close Wedfie
was 12S.36, an advance of .2S coI7Il5
with Tuesdays close. A year ago
average was 1885.
When the directors of the GIN
Consolidated Co hold their
monthly meeting, scheduled fors f. 81
9, ii is not at all unlikely that dfvfg3
dends which have been suspended sfnceS
December, 1908, will he resumed
The company is turning out at the
rate of IS, 100000 pounds of copper per
year, and costs which last year aver
aged 10 cents per pound. should be
somewhat improved upon as the ex-
traordinary expenditures made in en-
larging the plant are practically at an
end
Lakes stamp mill test. finished and
night. showed results of exactly so
pounds of mineral or 1888 pounds of
refined copper per ton of rock
The volume stamped was 1875 tons,
which yielded 1927 pounds of mineral
In the estimation of the expert mill
men in charge of the work this mineral
contains "a per cent refined copper and
figuring on This basis, the product was
9Si7 pounds of metal.
The Steel Corporation has booked
10000 tons of steel rails for next
years delivery
New York-Shipm tents of steel "for
a'e" by the Steel Corporation in the
current month are expected to estab-
lish new records. They will probably
exceed 100000 tons, or at a rate of
$4,000, 600 tons a year. These large ship
ments naturally mean very heavy
earnings, but no new high records in
this respect will be established. due
to the fact that deliveries will be made
upon very low-price basis.
The prospects of ship subsidy and
improvement of the shipping business
are alleged by supposedly wcll-inform-
Ell people rs the causes for the recent
advance in price and activity in Mer-
camille Marine Co. preferred stock. Ac-
tually. however, the benefit which the
Mercantile Marine Co. would derive
from any probably subsidy laws would
be small, and would not justify any
material advance in it's securities I'M
less the company should decide to en-
ter upon the trades in which the SUBJ
sidy would most likely be operative. -
The great impetus given to ship
building on the Lakes by the increase
IN ore and other traffic on inland wa
ters has had its inevitable effect upon
the operations of the American Ship
building Co. the largest company en-
gagged IN ship construction in the Lake
district, and the outlook for the flu
ture is bright.