Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1910-02-03
Days Financial
News and Gossin
Boston, Feb.

BOSTON, Feb. 2, 1910
Hross earnings of the Massacbusa...
Electric Cos. for January were remar,.
apie for this season of the year. The H.
crease IN gross was $5O,1OO, a gain :,
~ per cent. This is far and awav ~.
largest January gain ever shown h.s
the company and makes the Janra.'.
earnings the largest for this month -
the company's history ~
New York-Falling off in new sto.,
business in January is ascribed ,ar,,a
~ to the slump in stocks in Won
Street and developments at washinn
ton. Corporations have curtaile5 tba;.
purchases until they can obtain
clearer idea as to course of corporation
legislation in Washington.
Joplin, Mo.-The highest price maid
Tor zinc sulphide ore last week w.s
$495O, the base ranging from s45 To AZ
per ton of 60 per cent. zinc. The high.
est Tor zinc silicate ore was 500. tho
pase ranging from $24 to s27 per ton of i,
Az per cent. zinc. The average price. all
grades, was s44.36.
Hunt, Ellis & Co. says: 1.-THE dulJness
now prevailing in the market means
that the acute stage in the decline is
passed and recuperation has begun"
New York-Directors of Corn Prod
ucts Refining Co. will act in March on
dividends and it is expected that
per cent. will be declared, which will
bring the full dividend for 1909 up to-
. per cent, the rate paid in 1908. Earn
ings, as a result largely of high
prices for corn, are not sufficient to
warrant payment of larger dividends.
The average price of 20 active stocks
at the close Tuesday was 12261, a de-
cline of IL compared with Mondays
close. A year ago the average was
11192.
With sale of S100O0.00O Pacific Coast
extension bonds of ST. Paul Minneap-
oils e. Manitoba, Great Northern has
the entire $4,000 900 of this
series. They are made up in English
denominations. totaling 10000, 600, or
slightly less than S3O.OOO,0C0. They are
all held abroad
Houghton, Mich.-Oneco has taken
third core from the so-called Oneco
lode at a depth of 95S feet. in No. 5
lode The lode at this depth showed a
width of about 80 feet, compared with
Is feet where interscctcd nearer the
surface. About 10 feet OF this lode at
the greatest depth is very rich. five
feet carries some copper and the bal
ancc is barren. The drill at No. 6 hole
is expected to be drilling in rock in
few days.
New York-Right to subscribe to the
81, $40 shares of United States Rubber
first preferred treasury stock offered
to stockholders at 40 expired yeSter-
day. Approximately IS per cent. of the
offering was taken by the stockholders.
The balance will be taken by a syndi-
cate of bankers. Including the new is
sue there is now outstanding $73.631,-
700 stock of all classes. The only stock
low held in the treasury is S350.000
second preferred and 81. 900 common.
Boston-The estimated production of
he Butte mines In January was 49,
.24,25O pounds of copper which conf
,ares with 14675,SSO pounds in Decem-
Der and 26,5O2,60S pounds in January,
1909. The January production was.
with the exception of December, the
smallest for any month since June,
1908, when aggregate production was
only 49, $4,000 pounds. During January
many of the Amalgamated mines es-
1ecially those of Boston & Montana,
Butte & Boston. and Parrot, worked
less than nalf the month.
New York--The head of perhaps the
largest bond department in the United
States, says regarding the investment
situation: 1.-THE general demand is still
whereas we had hoped
or an improvement after the new
year. There is some foreign buvinS,
chiefly from France. and certain short
.erm notes have also been in request,
,ut, as a whole the outlook is not yet
However. when improve
nent does appear it is likely to he very
as bonds can today be
purchased on very attractive basis.
BACON.