Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1910-06-08
Days Financial
News and Gossip.

June 1910. 81
New York-GencIal comment on the
June cotton report throughout the dry
goods district was satisfactory. For
the present conditions remain pract-
cally unchanged. buying being on a
hand-to- mouth order But the time is
at hand when the buyer must antici-
pate in some degree. for fall purchases
on domestics may not safely be de.
ferred beyond this month.
Chicago--Rock Islands May car
loading was sos against 102.45S. or
Gas cars decrease. April net tonnage
was 25,093,925. against S1.226.230 a
year ago. Big decrease in net earn
ings despite good car performance is
explained by high percentage Of short
haul freight and considerable COM
pany freight. Pres Nudge says he
has not released any employees, sus-
pended any work. cancelled any con-
tracts or requested any cancellations
as result of last weeks Developments
Retrenchment hangs in the balance.
awaiting the outcome of the rate crisis
this week.
Pittsburg-Steel men declare that
iron, coke and other commodities used
by them have for years borne the
brunt OF freight rates. paying about !
cent q ton mile; that within the past
two years railroad requirements have
been reduced from so per cent. of total
output OF steel industry to only 40 per
cent, and that another increase in
railroads share of their earnings
means a war of steel interests against
railroads
Hunt, Ellis e Co.-WhiIe we con
slider prices attractive at this level ow-
ing to their yield. we do not think 1t
wise to become unduly enthusiastic
over the outcome of the conference be-
tween the President and the railroads.
Had the injunction been made perma-
n"nt the railroads would have been no
worse off than they are now. IL would
simply have meant submitting to the
provisions of the new railroad law
about to be passed. This is what they
must do now.
St Louis-For the five months end
ing with May, st. Louis, which is the
leading distributing center for rough !
lumber in the Mississippi valley. has
received 33 per cent more carloards OF
lumber freight than in corresponding
months of 1909. A total of 1882 cars
were received. compared with 59.737
for like period in 1909.
New YOrk--NipiSSing Mines Go has
declared an extra interim dividend OF
; per cent, payable June 20 to stock
of record June II. Books close June
IL. and reopen June 16. In announc-
ing the dividend the directors explain
ed that it was declared on account oil
n in
the large cash surplus
New York-At 122. Northern Pacii'c
was declined % points from the price
at which it sold at one time this year
Paying per cent year in dlvioenus.
the stock yields at this price 81 per
cent, There is nothing in the circum'
stances of the road to justify th0
heavy decline. unless it is the failure
of officials to get a better hold on INC
high operating expenses
Chicago-James j. Hill predic.'
severe car shortage and worst tramc
blockade here next fall ever seen u
crops are good. He declares that Cni-
cago will suffer most by car block
AIDE because it is the center of traflc'
New York-American stocks in Lon
don responded promptly to the settle
ment of the railroad difficulty III
Recovery extended from
4 point to over 4. Consols were bet
.er, coppers firm: the rest of the mar
1et was dull. Business was restrict
I'd, owing to the fact that the settle
nent begins tomorrow. Foreign
Houses expected to buy rather freely
f the market did not get away from
hem. - '~'.s s'S"
BEACON"