New-York tribune., 1906-05-11
WALL STREET AND EXCHANGES


FOREIGN TRADING.-Foreign houses were not
active in the local market selling upward OF 1900
shares on balance. In London there was no ma
terial change in general quotations. The Bank OF
England made no change IN its minimum rate OF
discount though the weekly return was not par
ticularly satisfactory.
ment is under way on the part Of certain stock
holders of the Chesapeake & Ohio 70 induce the
directors Of the company TO increase the 0iVldehU
rate. the basis Of the demand being the large IN
crease in the earnings Of the company ana us eA-
eent prospects for further gains in the balance OF
the year Some OF the points made by the stock
holders follow;
From June 80, 1899. to February g; 1905; the net
income Of the Chesapeake 9hi9 alT3aE a az @ Sr 1n 6e
of which there has been paid TO the StoeknoIGeF@s s
IN per ent of the total appicabIe to dividends leaving
SO,s9O00O. or q per cent which has been put back
Norfolk & Western Railway Company has paid TO
its stockholders 81 per cent OF e te nsL nSo1s & Sp
the propeTty sG The Baitmore ohio Railroad Com
net income applicable to dividends. putting 4s per
cent back into the property. this road having come
The sopthern RaiIway Company any has Rn paid to ats its
Es p4epeP eT fSe Ig SaSSe @ Railroad
Of the net income appiica6ie to dividends puttng
rPsF a. P cent Es9s 6 SSs sr55s into as % oh
Railroad. shown herein. continue to the end OF
sonabe assurance, the present rate Of dividend o.
! per cent year would represent only u per cent
CORN PRODUCTS REFINING-The statement
Of the Corn Products Refining Company for the
current fiscal year will reflect the change in the
management Of the corporation 1t is expected
that the surplus. after deducting the per cent
which the preferred stock entitled will be equiv
alent TO 4 per cent on the common stock.
The directors meet next month to consider the
payment Of dividends the preferred The be-
lief prevails that dividends will not be started at
that time. II is the intention OF the new manage
ment TO place the company In first class condition
before beginning preferred dividends With this
object in view, present earnings will be used for
extensions Improvements, etc.
TIN PLATE.-It is now figured that the cost OF
material alone in box Of tin plate OF 100 pounds
is in the neighborhood of 50 %. including the
cost Of production. Tin plate is quoted at s. -
box. Under these conditions an advance in the
price OF tin plate is expected Many tin plate mills
have been forced TO close on account OF the
scarcity of tin bars. Pig tin is selling the
highest level ever recorded.
MICHIGAN STATE TELEPHONE REPORT
The annual report OF the Michigan State Telephone
Company shows gross earnings Of S2&S552 and
net earnings OF sS7S.s2s After the payment OF IN
terest and dividends there was balance OF S259.-
459 which. with the surplus OF the preceding year.
made total surplus of Sss2.1l5. In the year divi
dends the amount Of $4,000 paid the
preferred stock.
NATIONAL BISCUIT DIVIDENDS-The direc-
tors of the National Biscuit Company yesterday
declared the regular quarterly dividend OF 1St
cent on the preferred stock. payable on May 81 to
stockholders OF record at the close Of business on
May 1S. and the regular quarterly dividend OF 1
per cent on the common stock payable on July "A.
to stockholders OF record at the close OF business
June IS
PACIFIC COAST.-The report that ss result OS
ths San Francisco earthquake and fire the Pa
cifc Coast Company had been compelled 10 lay OFF
some of its steamers which go from that port 70
Seattle and San Diego IS denied by officers OF the
company. As a matter OF fact. the company has
increased its coastwse service and is now running
special excursion steamers from Seattle to San
Francisco. Certain stock market traders. short OF
the company stock, putting out unfounded ad-
reports regarding the business OF the con-
Germ. but II is noteworthy fact that buying con
tinues for the account Of several large railway
interests which evidently are anxious 10 secure
control of the property particularly on account
OF its valuable real estate holdings in Seattle
BROOKLYN UNION GAS DIVIDEND CUT IN
TWO-The directors Of the Brooklyn Union Gas
company. at meeting held yesterday declared q
dividend of per cent the capital stock OF the
company. This is a reduction Of per cent as com
pared with the last preceding payment which was
made March last. payable June l. The following
VIII Snow the dividends declared by the company
ee IT'S incorporation September g. 1895: 1885 TO 1890
. per cent yearly; 1901 TO 1895 per cent yearly:
1874 sls per cent: 1906 sIs per cent: thus far IN
1906. per cent
FRANKLIN TRUST CONIPANY.-At the regu-
lar meeting OF the board of trustees OF the FraDt
I'm Trust Company the following new members
were elected to the board: Francis NJ Jencks
George r MOffat, Edward s Hardness Csoor.. 4,
Victor, William b. Lane and George H soutbar5
lr' At subsequent meeting % the board. George
H. Southard. ir.. who has been acting as assistant
secretary, was elected third vice-presden, ana
Henry C. Low. jr.. was appointed assistant sacre-
tary.
NEW YORK CITY INTERBOROCGH RAIL
WAY MEETINCi.-A special meeting OF the New
York city InterbOrOugh Railway Company's stock
noiueFs VIII be held at No. IS Wall street on Nav
o az Z O'Clock noon. for the purpose OF eectIng a
board OF directors FOR the ensuing wear and Two
inspectors OF election
,I s@Af H.I4 CAR AND LIGHTING CoMPANY.-At
tne annual meeting OF the Safety Car and Liuh,ine
Company the directors were reelected -rbo ~
rectors meeting for the election Of officers win he
held az inc end OF the month. The directors have
decided to stop issuing annual statements Tbev
give no reason for so doing The stock is unlisted
and closely held
A