New-York tribune., 1906-06-24

per cent on deposits ranging from $500 up Ia rars
STEEL ACTIVITY--Fron present in6ica+,o,,
fewer steel mills will close this summer for ranas,
and vacation purposes than ever before in the b,.
tory OF the industry. The summer opens with
every steel mill in the United States with +ba az
ception OF those that have been forced ~ cosa -
account Of repairs, in operation. The mills hav.
been running under great tension for ths las,
twelve months. and necessarily some OF them Win
have to close IN the summer months for rsnatr.
but the number Of mills idle this account win
be proportionately small unless something unsora-
seen happens Every year there is more or les,
idleness due to the fact that the steel workers d
sire to take well earned vacations. This summer
however. vacations win be limited on account or
pressure Of orders.
1EON SITUATION.-Rogers Brown Co. r,
garding the iron situation. say;
It would be a mistake to consider this sou,bA-,
cut in price an indication OF any general weaks
ness. 1t can affect only Northern prices az con,-
petit1ve points, and the probabilities are that svsn
In looking for an explanation OF this Southern "a.
velopment, in the face Of such satisfactory cont-
iobbing motives are behind this action and IN tSs
hight OF the past record Of some OF the present
mantpulators OF Southern securities this not az
all improbable. After the temporary check whIch
Is sure 10 result from the weeks Developments,
buying should resume its normal rate In fact
the heavy sales Of Southern iron may be stinulus
10 trade in general rather than prove TO ba any
tons. 0'''1--
STEEL CAR ORDERS.-A representative OF ths
Pressed Steel Car Company says many largs
orders for steel cars have been received within tha
last two or three weeks. the demand following 4
temporary Iull. The railroads appear convinced
that there is danger OF crop failure this year
and are more inclined TO place their equipment
orders. The American Car and Foundry Company
also reports decided Improvement in the way Of new
business. The untitled business the books q
the various car companies represents steady wor4
for the plants well into next year
COTTON 8IOvEMENT.-According to The
Financial Chronicle the total receipts of cotton fos
the week ended June %. 1906, S1,57S bales as
against %. .S5S bales In the preceding week Ths
total receipts since September are 75 6S against
1854 $50 for the same period last year decrease
OF 1S09,669 The weather has been favorable 10
most of the belt In a few sections along The
Atlantic the rainfall has been rather heavy. and
drouth is complained OF in Southern Texas
PENNSYLVANIA LOAN IISTED.-Thers has
been listed on the Philadelphia Stock Exchargs
25OOOOOOO francs Pennsylvania Company SO PED
cent French franc loan Of 1895. guaranteed by th<
PENNSYLVANIA Railroad Company. also 1,sS0Ooo cape
itaI stock Of the Norfolk Railway & Light Come
pany. par value s25. full paid.
WABASH SYSTEM-The net earnings Of tna
Wabash lines east OF Toledo FOR April. 1906 arnoun
ed 10 SD O24 against 1S1 for April. 105 For 5
ten months ended April 80. 1895. net earrtrsd
amounted to s.. .4s506s. and s752S62 for the corre>
spending period OF 1905.
BANK CLEARINGS.-The total bank cisarng4
Of the United States for the week ended June .
one day estimated were g 81 on 0S6 against EraS
546e53 in the preceding week and 22SsZ57T lase
year