Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1910-03-10
Days Financial
News and Gossip.
March 9. 1910,

We see no reason to anticipate that
the American debt to Europe will cause
inconvenience. Those who have open
ed credits are very powerful. They
obtained satisfactory security for ad-
vances made, and would not have CON
tinued those advances If not satisfied
they are getting better return G.;.n
they could get in Europe. AS long as
it suits their American debtors Trey
will continue to give accommodations.
Whenever the need for settling the
debt arises, America will be able to
settle it without inconvenience. Buy
ing of American securities has provid
ed for settling a considerable part
The directors of the United Shoe
Machinery Co. will hold their usual
quarterly meeting for dividend action
today but there is no present int lt.0n
to declare an extra dividend Ut this
time. AS previously stated action on
the extra" should be taken 1T he
June meeting of the board.
Chicago-Rock Island net tonnage in
January was 45S,S17.674. compared
with 416,69S,S94 in December and 4OS,-
564,256 a year ago. The performance
per mile during December and January
is creditable in view of weather con-
ditiOnS.
Western railroads have a weather
beaten look. The winter was the
worst on record and the opening spring
season is unprecedentedly bad in tine
far West. Transcontinentals are hav-
ing a hard fight with floods on snow
slides. March traffic would otherwise
be better than February which on the
whole was favorable month for OPP
Grating. Average daily traffic for
business days last month was bigger
than January, which was the best
month for business in the aggregate
that some roads ever had.
Boston-There is basis for the stare
ment that the Anaconda Co. notwith-
standing denials from Butte, is engage
ed in cutting a short crosscut at the
2SO0-foot point of the Diamond mine
in the direction of the North Butte.
and that diamond drilling will be done
from that point to the Edith May vein
in order to ascertain the character of
the vein at that depth, which would be
600 feet below the present lowest level
of the North Butte.
Ely, Nevada-Copper production at
the Steptoe smelter for the month Of
FEBRUARY was practically 5000 600
ponds. February was a short month
and there was some trouble expari-
enced from frozen ore during the
month. With good weather the $780,
OO0-pound mark should be reached
during March
PittSburg-GOod weather has brought
out more orders than for over three
weeks. Sales of approximately 10000
tons of Bessemer pig iron to two con-
snmers and the inquiry of Westing-
house Electric for $4,000 tons of foam
dry iron are the leading features. The
Bessemer price was approximately SIS
valley and this generally represents
| the market level.
BostOn-The announcement that the
| New Haven road is prepared to ex-
pend Sl6.0O0,000 in the construction of
| tunnel to connect the South and
North stations a sum far in excess of
any estimates previously formed-has
caught the community by surprise. 1t
was only 10 vars ago that New Havens
entire bonded debt was but S25. OOO. 900
and now in single feature of it's
proposed Boston improvement the big
system stands ready to expend the
relatively large sum of $16.0OO,OOO
New York-Expenditures of the
Steel Corporation for new construction
will show no material change in the
current year. Last year close to $780,
OOO.0OC was expended. The corporation
has already appropriated between
$75OOO,O0O and $1O0,0OO,0O0 for new con-
struction, which will cover two years.
The average price of active stocks
at the close Tuesday was 1854. an ad
vance of .23 compared with Mondays
close. A year ago the average was
1853.
Boston--To all intents and purposes
the control of the Nevada Consolidat-
ed Copper Co. has passed to the Utah
Copper Co.. even though a numerical
majority of the Nevada shares was
not turned in for exchange into Utah
stock on the basis Of az for one.
The exact location of the Bohemia
drill which is now sinking is in the
center of the southwest quarter of
section Is on the ledge.
BEACON.