Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1910-05-11
Days Financial
News and Gossip.


In studying the department of agri-
cultures figures of crop conditions, it
is important to keep in mind that the
term normal" is used in techmcai
sense. The normal" condition to
which the figure of 100 per cent. is as
signed is not, as might be assumed.
the average or usual condition OF the
crop, but a condition so much better
than the average that in practice II
is seldom attained. For illustration, If
in certain locality Is bushels Der acre
is the standard of what soil, ordinary
seeding, average sunshine and rain
fall should produce, Is bushels to the
acre is in that locality 100 per cent.
Should ~ bushels to the acre be prob
able yield at any time reporting then
the condition would be returned as
80 per cent.
New York-So far, Erie has taken
no steps towards raising fares; as was
done on the New Haven. If an increase
in communication and single trip fares
is decided on, it will not be without an
understanding with other lines cross
ing New Jersey Erie men say that
communication business is done at a
loss in some cases. Surprising that a
commuter takes advantage of all the
3O-round- trip rides to which he is en-
titled on a months ticket, he pays
less than nine tenths of one cent per
mile from Rutherford, N. j., which is
91a miles out: and less than one-half
cent per mile from Suffern, 32 miles
out
Visible supply of wheat decreased L.
645, 900; corn decreased 100000 oats
decreased 100000.
Rogers, Brown & Co. say: The
downward tendency of the iron mar
ket is finding more formidable resist
ence as figures Of restricted production
come to the surface. Unless as early
buying movement sets in, with attend
ant higher schedules, consistent with
furnace costs. the blowing out of addi-
tional furnaces offers seemingly as
ONLY alternative. That a heavy ton
mage awaits placement is evidenced by
minimum stocks carried by some of
the larger Industries. Manv consum
ers have already reached the stage
where spot shipment purchases are a
necessary factor to immediate con-
sumption.
Hunt. Ellis & Coon the whole, the
Improvement in the situation this
week is material While the political
situation still continues menace,
and is bound to exercise considerable
restraining influence, there is every
reason to believe that the tide is turn
ing temporarily at least in favor of
the bulls.
j. S. Basche & Co.--The pear element
has been taken by surprise at the action
of the market since the Kings death,
and the level reached has caused big
depreciation in profits of those who sold
fo- the decline. We believe that their
ammunition has been wasted and that,
instead of putting out larger line, they
will be anxious 10 cover without further
loss.
Montreal, Canada-Sir Edward Clous-
ton. vice president Of the Bank of Mon
treal, says regarding the prospects of
a reciprocity treaty between Canada and
the United States: Canada now eX-
ports about the same products as the
United States and would lose by any
treaty with the American republic; Can
ada should make her own custom laws
ut Ottawa, as we are certainly OF too
much importance To think of having such
matters looked after at Washington.
Both in Canada and the country 10 the
south the most prosperous agricultural
districts are those in close touch with
manufacturing towns. 1t may be that
the Canadian West will soon demand a
free interchange of commodities with
tie United States. and l am adverse to
a fair interchange between both coun-
tries on a reciprocal basis"
Boston-The Nevada Consolidated Cop
per Co. for the quarter ended March 81,
1910, showed a net surplus after divi-
dends of $S0,562 as compared with a
deficit for the previous quarter of $685.
COZ.
chicagc-Tne Hartman passenger
equipment contract with the Pullman Co.
for September delivery totals APO cars,
including the following all-steel cars:
2S9 coaches. IS postal. 81 chair, SO bag
gage, 16 combination; also the follow
ing wooden: rs diners and II observa-
ton. The management will order r.
900 freight cars, including 1000 box cars
within As hours, all steel or steel under
frame. Hartman power orders pending
include PA locomotives. The appropria-
ton for all this equipment was made
last December. Bids were asked last
February but the prices then were ex-
orbitant, hence the delay.
New York-Application has been made
to the Stock Exchange to list s1,5S4,O0o
Hooking Valley additional first CONSOLE
dated mortgage 1-2 per cent. bonds,
due 1899; s25,00O,0OO additional New
York Telephone Co. first and general lien
mortgage Az per cent. bonds due 1899
81 100000 additional Minneapolis, st. Paul
* Sault Sainte Marie first consolidated
mortgage per cent. bonds, due 1898
and $3,0o0,000 Consolidation Coal Co of
Kentucky first mortgage per cent
bonds, due 1858.
Philadelphia-New York, New Haven
x Hartford interests are endeavoring to
purchase in odd lots from stockholders
of Central New England Railway in this
city the common and preferred stock of
the latter company. For the preferred
% is offered and IL to 10 for the COM
Interests in cit Il,