New-York tribune., 1906-12-12
WALL STREET AND EXCHANGES.

WALL STREET AND EXCHANGES.
FOREIGN TRADING-Foreign houses dealt in
30 O1O shares in the local market buying 4ootn- IN
London copper stocks again were strong and tne
general market firm The assistance arorded
the local money market by Secretary Shaw was an
effective influence on the London exchange There
was no change in discount rates at the various
European capitals. The Bank Of England probably
Will lose 100000 gold this week on shipments TO
India and South America
PORTLAND MINES PROSPECTS.-The sIDer-
intendent OF the Portland Mining Company, OF
wyoming writes as follows: THE new double COM
partment shaft is being pushed rapidly, with three
shifts OF men working day and night The new
plant machinery. shaft house and general equip
rnent is the best IN the district. All the ore
in the shaft IS mineralzed. and they have cut two
more distinct veins of high grade ore in sink
ing. The whole diorte ledge. which IS six hundred
feet wide. will be all at a greater depth, and
It is only question OF getting to 1t rapidly as
men and dynamite can do it Generally speaking,
he says the property in excellent condition and
It is only q question OF a little more work when
the same will be put big shipping basis.
DIVIDENDS DECLARED.-The National Lie
orice Company has declared the regular quarterly
dividend Of III per cent on the preferred stock
payable on December .. The Associated Trust. OF
Boston. has declared regular semi-annual divi-
dend OF per cent and extra dividend OF per
cent, payable January L The Homestake Min
ing Company has declared the regular monthly
dividend of 80 cents, payable on December % The
Otis Elevator Company has declared the regular
quarterly dividend Of IL per cent the preferred
stock payable January L. The Mergenthaler
Linotype Company has declared the regular quar-
terly dividend OF 21a per cent and an extra dfvi-
dend Of per cent, parable on December q. The
Virginia Carolina Chemical Company has declared
a quarterly dividend OF per cent on the preferred
stock payable on January IS. The First National
Bank of this city has declared quarterly dividend
OF per cent, compared with ca per cent paid in
the last preceding quarter. The Colonial Trust
Company has declared serni-annuaI dividend of
per cent, payable on January >.
LEHIGH vALLEY.-Joseph Walker & Sons have
issued a circular on the Lehigh Valley Railroad,
supplementing one which they published in Novem-
Der. 1905, In which they argue for higher market
price Of Lehgh shares and for the distribution
of larger dividends TO stockholders. One OF the
features Of the circular is a table showing the Le-
high Valley IN comparison with fourteen other lead
ing properties. and emphasizing the fact that on
the basis OF official returns Lehigh Valley has
shown in the last three years far greater earn
ing power than any OF the other roads If the
cost Of the stocks to the purchaser be taken into
consideration. In referring to Lehigh Valleys de-
velopment in these three years the circular points
out that the annual surplus available fC distrIbu-
ton in dividends the common stock has Increased
by almost 125 per cent, while all charges before
dividends could be paid have increased less than
per cent. The high degree OF operating efficiency
is also emphasized by the showing that while gross
earnings increased almost one-fourth, net earnings
that the road has indicated surplus equal TO q
per cent on the common stock and that more than
s. per cent has been earned that stock In five
years.
THE COPPER MARKET.-The copper market IS
IN a strong position but according 70 copper inter
ests. ought not TO be materially higher lower for
the next three months Nearly all OF the larger
American consumers have supplied their wants up
to April at 221s cents. at which price the Calumet
and Hecla sold the American market the last thirty
Do ,l.-Tr an.
mand. The American trade took about 15.OO0 coo
pounds at this price. and the foreign trade about
0000 pounds. The Calumet people claim that
they sold more than 2OOO0OOO pounds In the last
thirty days. and that they are now out OF the
market.
NORTHERN CENTRAL. sTOCK. DIVIDEND
The Northern Central Railway Company has de-
Clared the regular seni-annuaI dividend Of 4 Der
cent and stock dividend OF 12ls per cent The
stock dividend is equal 70 IS % a share on the par
value OF the stock At the market value OF tha
stock at present the dividend is equivalent 10 ~,
per cent. The semi-annual dividend Of 4 per cent
is payable on January 10. The same date appIIas -
the stock dividend. The stock dividend viii cal,
for the issue Of S2149.175 new stock As there Is
now outstanding NT19S4oO stock the new issue win
bring the amount outstanding up TO SO 80 5-5 rbe
authorized issue is S20 OO0O00
AMERICAN WOOLLEN.-The American Uoous,
Companys proposed issue of $4,000 600 OF nar cent
cumulative preferred stock has been ,,o5aru-r,.,a
by syndicate formed by Brown Brothers q 60 -
New York, and Brown, ShipIey & Co ~ Toneor
stockholders will have the right 10 subscribe az
par Tor the new stock at the rate OF one share az
the new for every five and One-haIr Of tba nrasar,
common and preferred
fIeT IRON CEt,tIFiC'ATES-Pig iron cer,,e-
Gates at the New York produce Exchange were mn
changed Tor regular and easy for standard foundry
There were sales. Prices for regular foIIo,-.
Cash and December. $50 bid Quotations for navr
standard foundry follow: January. February and
March, so so bid ~
NOVEMBER COBALT SHIPMENTS. 80 Tn.
9-4p"l9u1S OF ore from the Cobalt camp as re-
ported by the Department OF Mines of c,oDa,t..
Iotal 1t carloads, or about rs tons The shipping
mines MINES contributed. in pounds as follows: la Rose
4so'Vo' Buffalo. 2SoOoo Coniagas 10000. NipissiDr
t.'''''' Irethewey. 1oe.To; Foster. 47.No. Nova
scotia 41O40; Green Meenan S4a5a
GLUCOSE SUGAR REFINING'S NEW NAME
me stockholders Of the Glucose Sugar Refining
Company have voted in favor Of chanEinp r.
H'iho Oh the company To the Corn Products Mann
featuring COmpapy ''