Daily Kennebec journal., 1910-04-30
Days Financial
News and Gossip,

Boeton-By almost any method of
comparison the annual report of Gen
eral Electric Co. for the II months Io
Dec. 81. indicates a healthiul recovery
from the serious slump in earnings ex-
parienced during 1905 The extent of
fact that deficit after dividends in
the 1908 year OF All.113 was turned
into a surplus of s1,279.21S in 1909. n
other words. General Electric in it's
1909 year earned 9.9 per cent on its
S65, ,l79.S00 capital stock against 7S per
cent. in the 1908 year.
Chicago-New York Central lines
west of Buffalo show following cars
loaded in 26 days of April. compared
with same period year ago: Lake
Shore 2Sl,093 increase 29,425; Michi-
gan Central 177.052, increase 943S; Big
Four 1851, increase 49, 405; Pittsburg
& Lake Erie 72.341, increase 12,525;
Lake Erie & Western 41,922, increase
1922: Chicago, Indiana & Southern
27,2i2, increase 3027: Indiana Harbor
3O.3f2. increase 1895. All roads have a
surplus in all kinds of cars.
New York-With the focal rubber
market apathetic, except as regards
prophecies as to the height to which
crud" rubber will rise, all eyes are
turned toward London. where the trad
ing in rubber shares has been going on
at fever heat Rubber men here are
anxious to see the result of the first
settlement day, May 5, believing the
strength of many of the new shares
will be thoroughly tested.
New YOrk-As in the case of ST.
Paul, financing by convertible bonds is
not new to Baltimore & Ohio, although
it has been several years since it issued
that form of obligation. 1t, with
Unicn Pacific, assumed the leadership
in reintroduction of convertible issues
in 1901, when the market was practi-
cally bare of bonds of that character,
nearly all the largo amounts distrib-
uted from 1890 to 1892 having been ex-
changed for stock at large profits to
the holders. y
Baltimore & Ohio's previous converti-
bic issue was s15,O0O,0OO 10-year As. con-
Vertible into common stock at par and
first offered for subscription at par. At
ofcring, the stock was being quoted
from S5 to 80. but during the following
year. when the conversion privilege went
into effect, it sold as high as 115 81
carrying the convertible bonds to the
high point of 11S. During the financial
disturbance of 1908 the stock sold at
II 5-S bringing the bonds down to 81 IL,
the lowest point reached in the history
of the ISSUE practically the entire
Of which had through e0nver-
sion disappeared from the market by the
middle of 1905. 81. ..-,'.-
New York-Cotton Seed Oil Co, ad-
vices from mills in the district visited
by the frost early this week place dam
age to the growing crop from 10 to 20
per cent. While cotton seed has ad-
vaaced in price. the advance has been
greatly exaggerated.
New York--OfFcials of Southern Rail |
way are sceptical of the early estimates
Of crop damage throughout the South. |
They say tie loss to cotton. of which |
he Southern is the biggest carrier, will |
not be nearly as large as local experts |
have made *. In part of the affected |
erritory formers are at work replanting |
which will mean prolonging the cotton
sea son to the benefit of the railroads and |
merchants. while in other sections, where |
t is now too late to put in potion. other
crops are being sown.
New York-The average price of 20 !
,ctive stocks at the close Thursday was
1876, a decline of 1.50 compared with |
close. A year ago the av-
,rage was 1886.
New York-Nevada Consolidated Cop
Der CO. has applied to the New York |
Stock Exchange to list s9,939,300 stock.
New York;. p. Dawson of j. p.
Morgan & Co. has returned from a two
months trip to Europe where he spent
most of the time with Mr.. Morgan. He
would MT discuss finances, but did ad-
nit that he heard of the increased Steel
lividend through the air"
New York-It is an index of the high
n standard of maintenance which has
Prevailed on the Brooklyn Transit sys-
EN- in the past two years that, where
Is total number of passengers carried IN
909 was $50 10000 against 321.5ol,oco
n 1902, unit cost of maintenance per
assenger was higher in the latter yest'
With q relatively small increase III mile
ge and equipment, the ordinary tend-
ncy of those expenditures would be 10
decrease per passenger as the density
vent UP. That it has not SO aeted III
he Brooklyn Cos. experience means that
new standard of care for the prop
rty has gone into effect.
Eoston-Union Switch & Signal Co.
which is controlled by the Westinghouse
interests. is having decidedly good
ear. Sales for March were approx