Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1910-05-16
DAYS Financial
News and Gossip.
MAY IA, 1910

may 1t, AOAO
Boston-A slight improvement seems
to be shown in business sentiment this
week. Whether this foreshadows a
coming greater activity, or whether ii
is mere reflection of the better tone
in financial circles, Is open to doubt
The more encouraging reports as to the
condition Of the growing grain the
broader market for American bonds
abroad, and the somewhat higher
prices that have been recorded In the
security markets. have probably Deeh
favorable contributing causes.
New YOrk-Again the st. Louis, Iron
Mountain & Southern Railway has de-
monstrated that it is the backbone OF
the Missouri Pacific system. In order
that the entire system might show a
surplus for the first eight months of
the fiscal year Iron Mountain was com
PEELED to overcome handicap Of about
$250,000, representing deficit after
fixed charges andf taxes on the part
of Missouri Pacific proper.
In the six and three quarter months
from Aug. to Feb. 20, Missouri Pa
cific proper showed deficit of $751;
018. In the full eight months to Feb.
% Iron Mountain showed a surplus of
$12,131, $780, total surplus Of the whole
system amounting to $1,S64,540.
Winnipeg's loan of $2,500.000 in Lon
don, made during April, was subscrib-
ed for to the extent Of only % per cent
by the public, the balance being left
on the hands of the underwriters. The
Manitoba loan Of $4.088.000 had only
12 per cent of it subscribed by the
British public. These are 4 per cent.
debentures, and were underwritten at
1913.
Thus far there has been little. il any.
response in our bond market to the an
nouncements of a week ago relative to
negotiations for important railway
financing in Europe. slight increase
In activity is noted in the bond depart
ment Of the Stock Exchange, but it is
Of such character as to give it little
significance. In the private market
there have been practically no indica-
lions of a distinct revival of investment
demand.
ChicagO-Orders on books of Ameri-
can Can Co. are larger than at this
time in several years. Indications are
that the company will make a record
showing this year in production as well
as earnings. Capitalization of produce
ton and Introduction of economics in
general are responsible for the decreas-
ed operating costs of the company.
Boston-A. representative OF the
American Book Co. the sO-called trust
of the publishing trade. states that the
cOmpanys sales are now running be-
tween $6,000,000 and $7,000,000 per an
mum. which makes it by far the lead
ing American publishing house in vol
ume of gross business.
New YOrk-The transaction whereby
Amalgamated Copper Co. comes into
possession of the copper mines and
reduction works in the Butte district,
owned by Senator w. A. Clark. was
practically closed Friday and Senator
Clark sails for Europe today The
details of the transaction will be an
nounced in the near future, although
1t is stated that the Amalgamated Sc
cured the properties upon very reason
able terms.
The average price of 20 active stocks
at the close Friday was 121.73 an adj
vance of 30 compared with Thursdays
close. A year ago the average was
1850.
Chicago-Charman Harris of Burl-
ington. says that despite winter wheat
deterioration the crop and other con-
ditions suggest prosperity for the en-
tire country. People are recovering
from fright. and he believes feeling
will be better henceforth.
BEACON"