The Newark star and Newark advertiser. [volume] (Newark, N.J.) 1909-1909, 1909-06-01
WALL STREET NOTES.

this afternoon that outside buying was
not continued after the early orders
were filled. The slight decrease in the
net earnings of Union Pacific for April
was rather disappointing. though
Southern Pacific made another ex-
traordinary showing. Some of the floor
observers reported profit taking was
occurring in Steel, under cover of
strength in the Hartman issues. Odd
lot brokers reported a good business on
the buying side today. They were ac-
tive on the selling side last week. Floor
reports said most of the trading ele-
ment was bullishly disposed and ready
to follow leadership in active issues
Good buying was said to be going on
in Railway Equipment shares. 1t is
estimated that a considerable shortage
is still outstanding in Reading. No in
crease in dividend is looked for this
month in responsible quarters. The
pool in Atchison is reported preparing
for a good advance in that stock
Flower & Co. were reported selling it;
they were recent buyers.
Uptown Sentiment-The chief topic
of discussion among the uptown
speculative interests this morning
was the further rise in Steel COM
nor in the London market. While
this was attributed in a general way
TO the proposed listing of the stock
on the Paris Bourse those who are in
closest touch with the management be-
lieve that the most substantial buying
of late has been by interests which are
confident that the dividend will be in
| creased in the autumn and that the
orders which will be booked in the tn
tervening months will greatly swell the
present volume of earnings. 1t is also
believed in the best informed specula-
tive circles that the short interest in
this stock has beer much larger all
along than the Street was willing to be-
lieve.
Disbursements on account of divi-
dends and interest on funded debts
amounting to $50, s26. 54e will be made
by the larger railroads, Industrial.
mining and public service corporations
during the month of June OF the total
the railroads will disburse 81, 030, 1856 in
dividends. compared with ss,S71,s s7 in
June, 1905, and SIS, 365. 4Ss for interest on
bonds, as against s2l, s67. 407 in June,
1908.
A noteworthy feature of the June
statement is the remarkable manner
Ia which the industrial corporations
have been able to maintain their divi-
dends, the percentage of decrease being
much less than in the case of the rail
roads. whose stocks have always been
looked on by the public as much more
conservative Investments.
John f. Stevens, who established an
exceptionally high reputation as a
Western railroad president and engi-
neer several years G has resigned
his vice-presidency of the New York,
New Haven and Hartford Railroad
Company. according to an
ment made here last night, and will be
allied oon with james ]. Hill as the
executive head of either the Great
Northern or the Northern Pacific rail-
road.
Strength in United States Steel shares
has impaired in the london market a
hardening tendency to American rail-
way shares.
Here's a brokers' tip:
In markets like the present one re-
actions are likely to develop sudden
Iy and consequently should be provided
for. All evidences point to the ac-
emulation Of Union Pacific n South
ern Pacific by important interests.
mr.. ~.s.@ - 49, -
U. s. Steel Corporation 4pened at a.
pharp advance on the Stoqk Exchange
today. Fifteen thousand Shares. which
changed hands in the Inf3al transac-
tions, soid Ct ssx 70 ssA (An advance