Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1910-11-01

1892, and 1887. 500 capital stock.
According to Boston advices the
strength In American Telephone securi-
ties, particularly the stock, is directly
attributable to continued investment
buying. In the first ten mon-ns OF
this year the company has added 5000
names to It's list. and today for the
first time In its history has over 10000
shareholders. Next TO the Pennsylvania
railroad and the Steel Corporation its
stockholders number more than those
Of any large American corporation.
The New York Public Service COM
mission has az .horized F.. Smith. re-
~ceiver of the Pittsburg, Shawmut ana
Southern railroad. to issue $40, 900
equipment trust certificates. the pro-
ceeds to be used for part payment
upon $50 steel coal cars.
Except for a few issues in that class
of bonds always more ~noticeably affect
ed by speculative influences. the gen.
eral list of representative railroad se-
curities was characterized by no sig
nificant price changes during October.
81 1dI do liz d5G ID = a.
shows a slight downward tendency. but
the difference between the present po-
sition and that at the close of Sep
TENDER is scarcely wide enough to mai
cate any radical change in the salts
factory Investment conditions with
which the month opened. The average
now stands at sl.445. comparing with
91.61 in September and with 90. lbs at
/ 49, o1orn1 80 O1xaha~ 1000
A New York dispatch says hat IN
connection with the placing of $4,000
900 one-year Michigan Central AZ per
cent. notes in Paris, at a price not d.
vulged. it may be recalled that Presl-
dent W. C. Brown, of the New York
Central, recently testified before the
Interstate Commerce Commission that
he expected TO pay 6 per cent. for the
money. An attempt was first made To
sell debentures. but b best bid for
them would have made the loan 80
costly that the notes we're resorted to.
1t Is presumed, under the cireum-
tances. that the net cost to the COM
pany was close TO 6 per cent.
New York banks lost $s41, 600 to the
sub-treasury Saturday, making a total
loss since Friday of S1,477, 900.
Chicago bank clearings for the month
of October were si,163, 264, 457, balances
SIS, 31S. ISL. q decrease from last year
of more than $50, 900, 600, or Al per cent.
For ten months the aggregate is SILL
5ss. 1870, 217. an increase of s1se, 02S, 326.
There were seven New York banks
reporting less than % per cent. re-
serve in Saturdays statement, three
national and foul State. This compares
with II banks below the required re-
serve in the preceding week and 10
in the week ending October 80, 1909.
Because their reserves are low dur
ing the crop-moving season, the Ca
madam banks are in the habit of draw
ing upon thei deposits in New York
lust before the enc of the month, when
they are preparing for their monthly
statements. This is why Withdrawals
of gold from New York for Canaoa
are seldom seer at any other time eA-
cept toward the end of the month.
Last month 81. 900 gold coin was
withdrawn for shipment to Montreal.
At the end of September 81, 400, 600 was
sent. and 81 400. 900 went at the end OF
August. The totM end-of-the-month
shipments OF gold Goin to Canada this
year are IS, $50, 900.