Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1910-05-27

roads fiscal year seems to be attract
Ing some buyers, However the. market
Is still dull. Output has been consid-
erably cut down. Sioss- Sheffield is
operating four furnaces Tennessee Co,
two. Sheffield Co. is operating one and
Southern Steel three. Republic and
woodward are, on the two-furnace
basis. y Southern Steel is in full opera :
ltien of all plants at Gadsden, including
the new red and wire mill. There has
been trouble keeping Negro labor at
work during passage Of the earth
through the comets tail.
Boston-The Boston News Bureau
estimates dividend and interest dis
bursements in June payable in Boston
at $1O047.866, compared with $6,S97.-
/ 800, Including 31,732,560 PRINCIPAL, this
month and $8,S43. 800 in June last year.
New York-New York Exchange at
Montreal, which before stood at 15M
cents premium. has dropped this week
81 cents to 62h cents discount. This
indicates an accumulation OF New York
funds in Canada and foreshadows a
movement Of gold acress the border
from here. Already shipment of
100000 to, Montreal has been made.
Such development in the Canadian
money market at this time is rather
Unusual.
Movement of crops in Canada always
calls for gold from New York. Owing
to early frost in the Northwest farm
ers start their wheat to market earlier
than in this country. But the first de-
mands do not come usually until about
m
gold appears a month or more earlier.
Chicago-J. Harry SELF of Selz,
SchNab & Co., leading shoe dealers.
says: While do not wish the rail-
roads to transport any Commodity at
less than cost, insist that they do not
Increase class rates rates until they
have gone over their commodity rates,
commodity by commodity, and increase
those which should be increased. There
are list OF commodities which the rail-
roads are transporting too cheaply.
I'VE all know what they are and we all
know the reason for it. We all know
also the balance of the shippers have
been paving for the loss the railroads
sustain in transporting these commo-
ditIeS too cheaply and we are tired of
footing the BILL" Western roads have
advanced rates in the manner Mr.. SELF
recommends. r
h New York-BroekIyn Rapid Transit
stock has not responded well to the
increase in its dividend few days ago
and at SO does not influence the posi-
ton Of the convertible bonds to the
extent hoped for when the increase was
agftated. with the bonds selling at So
the company disclaims any intention OF
trying to raise funds for improvements
in the near future. 1t is provided with
plenty of money for current needs and
until the public service commission
acts on application for permission to
buili more lines, it can avoid sale of
more securities lf, 's'''
Cananea-The Cananea Consolidated
Copper CO. has shut down furnaces
Nos. and 4 to permit minor repairs
For the past month eight furnaces, the
full capacity. have been In operation.
The output for May promises to ex,
coed that Of April. which was 1891. 900
pounds Of copper.
/ New YOrk-Sales have been cOnsun>
mated, this week in pig iron aggregat-
ing, upward of 10000 tons. of which
from 10000 to $4,000 tons were Western
Pennsylvania and balance Southern
iron. A bad feature OF situation. at
least from the producers standpoint. is
the fact that Eastern iron was placed
at concessions averaging 30 cents
ton, Or on a basis Of SIG at furnace and
$1S.70 Jersey City. u.
The average price Of 20 active stocks
at. the close Wednesday was 1s1.56 a
decline OF 1.2s compared with, Tuesdays
close. A year ago the average was
1851. BEACON.