Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1909-10-09
Days Financial
News and Gossip.
Boston, Oct. s

The forthcoming annual report of the
AlllS-ChalmerS Co for the year ended
June 20, of the second successive fiscal
period will show some balance of net
earnings above intero st and deprecla-
ton charges. The margin of profit Will
however, be much less than in 1908,
VIXEN the company made the best
showing i'll its history, with a balance
above interest, maintenance and depre-
citation of $615 S2i. That there was any
margin Of profit at all during the past
year. when operations We're conducted
on an average of barely 90 per cent.
of normal, has been due to Increased
efficiency and economy of operation.
The change in the Lake Superior
presidency means that it's financial af
fairs will be dominated by interests af-
filated with the Bank OF Montro az!
which is closely connected with the
London interests in the corporation.
New York-Pennsylvania Steel Co. is
operating at full capacity and has been
forced to limit its sales of billets. It
has sufficient billet orders to keep it's
mills in operation six or eight months.
Hans Winterfeldt has been elected a
director of National Railways of Mex
leo. to succeed James Speyer.
NorfOlk-Devclopme in the Nor
folk & Southern recevership litigation
point to tie-up in the proposed sale
of the property under foreclosure by
Trust Co. of America under Norfolk
& Southern $25,O00000 first refunding
bond issue of May l, 1906. The Ferfus
Reid petition for a stay of Immediate
sale, as urged by NJ. J. Perry, Oakleigh
Thorne and G. l.. Chadbouren of New
York, is being supported by a number
of other Norfolk & Southern security
holders.
American Steel Foundries Co. is rap
idly recovering from the depression.
Earnings are increasing and 1910 is ex-
pected to he one of the best years in
the company's history.
Pig Iron AssoCiation--The price is
$3.50 valley for fourth quarter iron,
and $3.50 for first quarter iron. This
is the first important lot of merchant
iron the company has taken since 1907
It's plants are consuming more pig iron
than ever before in the company's his
tory.
Sales of Bessemer pig iron since Sept
1 now exceed 100000 TONS
Stocks of cut meats in the West on
Oct. 1 were 112.000,000 pounds. against
l57 600 last year and 246, O00, 600 two
years ago. Stocks of contract lard
$4,000 tierces or one third under last
year. Contract pork 10000 barrels
against $4,000 last year and contract
ribs 100000 pounds against q, 900 pounds
last year. Specialists say that con-
sumption has overtaken production.
wall Streets proverbial habit of tax.
ing sansuine view of roads earn
lngs in the absence of any definite
information to the contrary, led many
| PERSONS to expect a Northern Pacific
surplus of II per cent. or better this
year. On S24S0OO,00O of stock, the
present outstanding total. the actual
figures show irstead almost exactly 10
per cent.
The 100000 shares of the Information.
al Smelling & Refining Co. have been
placed on the regular list of the Ros.
ton Stock Exchange
Nevada Consolidated Copper Co
shares are expected to be placed upon
a dividend basis this month. The di.
rectors are scheduled to meet Oct 9S
The Inauguration of dividends at the
rate of 50 aSyear or 60 cents ouarterl,
is anticipated.
The average price, Of 20 active stocks
at close Thursday was 1859, advance
IA compared with Wednesdays close
A year ago the average was 1O6.35.