Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1910-09-02

Considering the slump In munlclpal
and State bonds a few months age the
sale of the 81, 500, 900 az per cent. State
of Massachusetts bonds on a $3.70 basis
is looked upon as encouraging by bond
houses.
The Chester County, Pennsylvania,
Electric Company was sold at public
sale at Wilmington yesterday, under a
decree of the court, for $4,000. The
purchaser wal the Central Trust and
Savings Company of Philadelphia,
which bought the property in for the
Bondholders' Protective Committee, of
which H. NJ. Van Court is chairman.
Underlying properties of the Ameri-
can. Railways Company showed net
earnings for July equivalent to more
than IL per cent per year on the out
standing stock of the parent company,
or double the dividend requirements of
6 per cent. Net earnings for the month
we're $50, 900, an increase of $24,949, or
20 per cent, as compared with July,
1909.
With but 1872, 900, 900. of stocks, bonds
and notes marketed by railroad, indus
trial and miscellaneous corporations
during the past month, a new low
RECORD for the current year was estab-
lished. The months total was $40, 900, 900
less than the output in July n $751;
600. 900 less than February. the third
smallest month of the year. The grand
total for the year to date is about
$685., 039, 900.
The August stock transfer tax in New
York was the smallest of month
for several years, being $277, 226. 1t is
$108, S97 less han last July and 1924, 1854
less than in August of last year. The
tax to date is s3,067, 020. a decrease of
$293. 500 over the same period last year.
1t is reported that the purpose of he
trip of Charles E.. Knox, president of
the Montana Tonopah Mining Company,
to England Is to place some of the
stock of one Of California's big Oil COM
panies.
Directors of the Florida East Coast
Railway have declared out of the earn
ings for the year ended June 80 interest
at the rate Of 3A per cent, payable
November /, on the outstanding $20,-
900, 900 general mortgage 5 per cent.
fffty-year income bonds.
The merchant steel plant of the Ago
ma steel company, a subsidiary of the
Lake Superior Corporation, is nearing
completion.
The month Just closed was the dullest
August on the New York Stock Ex-
| change since 1900. The transactions for
the month were II, 1876, 100 shares and
s31, 039, 900 in bonds, as compared with
"a, 514, 021 shares and $113, 1902, 500 in bonds
in August, 1909.
Readings anthracite production for
August is preliminarily estimated at
about $50, 900 tons. Last year the Au-
gust output was 1921 S6 tons,
The Lehigh Valley collieries will work
Wednesday and Thursday of next week,
with the exception of the Blackwood
colliery, which will operate all the
week.
A representative of Lukens Iron and
Steel Company says that the company
is IOW DOOhlH6 hGW pdSAiiSOS at NhC
rate of about 1890 tons a week, or
about 300 tons a week in excess Of out
put. Most of this business is in small
orders and is from practically every
class of consumer.
The sales of United States Steel yes
terday amounted to more thar half of
the total transactions in all other
shares on the local exchange.
Total sales on the Philadelphia Stock
Exchange for the month of August
were the smallest of any month this
year, and fell far below the record of
same month in the previous three years.
The sales of stocks were 6 1907 shares,
compared with TAO, 1919 shares in August
a year ago. The bono transactions for
the month were only 1855, 700, also the
smallest record of the year.