Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1909-09-30
Days Financial
News aud Gossip.
Sent % 1000.

|
Sept. 80, 1909.
Boston-A leading member of the
New York Stock Exchange says: 81
do not know what is going on between
the telephone and telegraph companies
but 1 do know that somebody has beer
privately picking up large blocks OF
Western Union for one, of my custom
ers sold privately a block of 1O,00(
shares and Immediately turned around
and repurchased his stock in the open
market. This man tells me that George
Gould has disposed of his ownership
in Western Union to the telephone
interests, and 1 take it for granted
that he knows, though this does not
necessarily mean that the Western
| Union Co. will! be absorbed by the
American Telephone & Telegraph Co
apparently it does mean, however, that
these companies will at least be OPP
| Grated on some community Of interest
plan. I am likewise told that the Tele-
phone people will go on the board of
| directors of the Western Union Co. on
| Oct. 49,"
For the first time since the Organi-
| zation of the Massachusetts Electric
Companies 10 years ago, that company
and all it's subsidiary companies are
now free from floating debt-the last
note having been paid off within a
| few days-and the companies have ST.
200, 900 cash in the bank.
| P. F. Sullivan, president of the sub
sidiary companies and general mana
ger of the Massachusetts Electric Com
panies, will sail for Europe tomorrow
on the Lusitania for a months vaca-
| ton.
| Charles w. Morse is understood to
have extended his steamship ambitions,
now that control of the Metropolitan
| Steamship Co. has definitely passed in
to his hands. Mr.. Morse has practical
ly completed negotiations which insure
his acquisition OF the Hudson Navi-
| cation Co.
New York-Rogers, Brown e. Co.
say: The iron market is extremely ac-
tive, with very heavy buying of pig
iron and coke at rapidly advancing
prices. Following on the heels of
steady buying of iron for some weeks,
| a new outburst of inquiries indicates
a remarkable increase in consumption
The buying is for genuine require
ments, and has none of the earmarks
| of a speculative movement
Car movements in Pacific Northwest
territory were 13 per cent. larger dur
| ing the two months ending with Au-
gust, 1909, than in 1908. The total of
15S,317 cars We're reported, compared
with l39.lS4 cars year ago, between
| July 1 and Aug. 1. For August alone
this year 94,017 cars were handled,
| compared with $4,000 cars for July.
Boston-The earnings of the Sears,
| Roebuck & Co. Ltd, the Chicago mail
| order house, are generally regarded as
| the best criterion of general business.
In August the earnings were 80 per
cent. greater than a year ago and it
| is estimated that for the year 1909 this
company will do gross business of
$55, 100000 as compared with $40, OOO, 900
last year
Bethlehem Steel Corporation has av-
| eraGed lis per cent a year on its pre-
ferred. Earnings from 1908 to 1905 in
elusive were much larger than in re-
cent years, due largely to the policy
of the government as to ordnance con-
| tracts. In late years the government
has awarded only a small proportion
of its work to outside concerns, and to
Offset this loss Pres. Schwab was.
forced to engage in manufacture of
commercial steel.
New YOrk--The average price of 20
active stocks at close Tuesday was
| 132.4S, advance 1.39 compared with
Mondays close. A year ago the aver
age was 1856
Sharon, Pa.--American Sheet & Tin
Plate Co. has in operation $50 mills or
IS per cent. of serviceablc capacity,
and 145 mills or so per cent. of it's SER
viceable sheet mills in operation In
the tin mill department q mills are re-
ported not available, leaving II SER
viceable, but not in operation.
New YOrk-Coastwise steamship
lines are now showing marked in
creases in both freight and passenger
traffic over 1908 and 1907. Opinion
among officials of lines which reach
gulf and south Atlantic ports is that
heavier traffic during this fall and
winter will develop, than any hereto
fore experienced.
Washngton-The Interstate Com
merce Commission has adjusted Is lum-
Der cases against Southern railroads,
the roads paying the lumber firms g.
per cent. Of claims filed.
Butte. Mont.-The management of
the North Butte Co. for months has re-
fused all information to the public
about the condition of the property,
but according to news that is brought
from the mine by miners, the COM
pany is coming into it's own again.
FOR some time developments on the
2coc- and 22O0-foot levels were not up
10 expectations, owing to the fact that
the vein was badly faulted. However
the drifts have gone through the fault
ana the vein on both levels is strong
ana well mineralized, though on the
2zoo the ore is still of low grade.