Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1911-02-10

Is concerned there Is no basis Tor the
intiination of q merger with the Mer-
chants Union Trust Company. the
Logan Trust Company Is n of the
strongest of the younger trust compa-
MES of Philadelphia.
The Fidelity Mutual Life Insurance
Company reports insurance In force at
the beginning of this year amounting
to 1925, 218,s44. and ledger assets of
$21, 673,571. Its reinsurance reserve In
creased 11.63 per cent.
American Steel Foundries stock made
a further sharp advance yesterday, the
story being that the company has per-
fected a very superior steel car wheel.
The Financial Calendar for this year,
published at 25 West Broadway. New
York, has Just been issued in Its usual
handy and complete form.
The Bank of England's minimum dis
count rate remains unchanged at 4 per
cent.
The governors of the New York Stock
Exchange have voted not to close the
exchange tomorrow, preceding Lin
coins Birthday.
The Bank of England bought f137. 600
gold bars in. the open market. Gold to
the amount of $500 WAS engaged for
shipment to South America.
THE year 1911 will be a bull period"
says John w. Gates. by that, mean
a bull period not only in the financial
district, bat in all commercial lines"
The New York subtreasury gained
81, 1888, 600 from the banks Wednesday,
making cash net gain since Friday of
81, 1853. 900.
The Youngstown Iron and Steel Com
pany has completed plans for large adj
ditions to its plant.
The following seats on the New York
Stock Exchange have been posted for
transfer: Claude G. Sterling, deceased.
to Chauncey B. Shears; Otter Lowen-
gard, deceased, to Richard S. Lord.
AT the annual meeting OF the Miles,
Bement Pond Company, New York. c.
l.. Cornell was elected a director, sue
ceeding Alexander Gordon, deceased.
Other directors reelected.
George o. Palmer, OF New York, for
merly vice-president, has been made
president OF the Alberger Condenser
Company and the Alberger Pump Com
pany. Mr.. Palmer is succeeded as vice.
president In the Alberger Condenser
Company by d. H. Chester, and in the
Alberger Pump Company by w. S.
Doran.
The board Of managers of the New
York Coffee Exchange will reconsider
the decision to close the exchange on
Saturday, February IL, owing to the
present excited state of the market.
A dispatch from Harper's Ferry. w.
Va, states that the Trackless Trolley
Company of Maryland and West VIr-
ginia was organized in h a place, and
the promoters declared that they would
Soon be operating the new form OF
transportation.
The SIS, 200, 900 venture of the Union
and Southern Pacific in an endeavor to
double-track the country into prosper
ity, 10 possibly supplemented by the ex-
penditure of another $751; 900, 900 In need
ed branch lines and extensions.
There Is much activity In the pur-
chase and lease of oil lands In the gulf
coast region below Tampico, Mexico,
particularly within a radius of fifty
miles Of the location of the big gusher
of the Mexican Eagle Petroleum Com
pany at Potrero del Llano. 1t is stated
that the oil in the gusher is of better ,
grade than any oil previously discov-
cred In this country.
The annual report of the Capital
Traction Company, Washington, D. c.,
for the last year, recently submitted TO
Congress, has been placed in the hands
of the stockholders. Car earnings for
the year 1910" the report states, show
an increase over the ear of 1909 of
S1S7, 096. rs, and in miscellaneous earn
ings and income, a decrease of $207. %,
making a net increase In earnings of
1886, SS9. Sc. In operating expenses, taxes
and interest. there was an increase of
s2Os. ST.. rs over 1909, due to larger tax
a assessments, Federal and municipal.
and to increased interest payments on
the additional pond Issue. referred to in
the last annual report.