New-York tribune., 1906-09-21
WALL STREET AND EXCHANGES.

FOREIGN TRADING-Foreign houses dealt IN
1900 shares IN the local market. sales and pur-
chases being about evenly distributed In London
British consols steady and the general market
quiet at unimpOrtant price changes Money
In fair demand IN London. and although the
Bank of England made poor return in It's weekly
showing Its discount rate remained unchanged In
Paris and Berlin there were no movements Of I'm
portance either in money OF securities
CORN PRODUCTS REFINING.-The Corn Prod
ucts Refining Company has arranged TO spend from
10000 TO 100000 in improvements and new con-
struc,ion within the course OF the next two yearA
These expenditures will be provided for out Of
earnings.
MONEY FOR SAN FRANCIsCO-Local banks
transferred yesterday 10000 through the Sub
Treasury 10 San Francisco.
CORN EXCHANGE BANK INCREASES CAPI-
TAL-The stockholders Of the Corn Exchange
Bank at their meeting yesterday authorized the In
OF the capital stock from 100000 20 SOoO Ooo
The new stock will be offered at 500 TO stockhold-
of record on October L
ALABAMA CONSOLIDATED COAL. AND IRON.
-Ths Alabama Consolidated Coal and Iron Com
pany OF Birmingham. Ala. reports iron sales for
the first half OF September 1906. OF 26S tons. az
average price at the furnace Of SIS rs a ton
TRANSACTIONS IN READING-Ths trading IN
Reading common stock IN The last few days has
been at the rate Of over $4,000 shares. As the en-
tire amount Of common stock outstanding and not
controlled by either ths Lake Shore OF the Balti-
more & Ohio is supposed TO oo about IS per cent
ply OF the issue has been turned over every two
DAYS on the Stock Exchange.
COMMISSION HOUSE ADvICES-The high rates
for call money and the continued scarcity OF time
funds have caused many conservative houses TO
caution their customers against heavy operations
in the stock market. but Notwithstanding the
strength IN the money market the so-ealled PRO-
fessionaI commission house business continues ex-
treueIy satisfactory from the standpoint OF COM
missions.
DIVIDENDS DECI.ARED-Dividends have been
declared as follows: New York Trust Company.
quarterly per cent. payable October l; De Long
Hook and Eye Company. regular quarterly "a
per cent payable October 1: Mercantile Trust Com
pany quarterly per cent. payable Octooer 1;
Bell Telephone Company OF Philadelphia regular
quarterly ia per cent. payable October 10; Pacific
States Telephone Company, quarterly ~ per cent.
PAYABLE October Is
DISTILLERS REPORT.-The annual report OF
the DistiIIers Securities Corporation shows gross
profits OF s4O4s15, aSppared with s3.7272i6 IN the
fiscal year ended June 80 1905 After interest.
and rentals there was a balance OF S45S715. Net
profits s21240s4 as against S56sss1 In the pre-
ceding year. while the surplus amounted TO Ss7O2s
against s251.sl2 in 1896. The net earnings We're
equivalent 20 6s7 per cent the companys capital
stock.
EXTRA DIVIDEND ON NIPISsING MINES
The Nipissing Mines Company has declared the
usual quarterly dividend of per and an extra
dividend of per cent
GOLD IMPORTS FROM FRANCE-Ths Chase
National Bank OF this city. has deposited s. 10000
bonds at the Sub-Treasury 10 secure an equal
amount OF gold against engagements OF the metal
negotiated with the Bank OF France This fs the
first engagement in the French capital and IL is
believed In Wall Street that the French institution
will be willing 10 send moderate amount OF the
metal 20 this country Other engagements OF zold
were s25oO.co by the National City Bank ana
$4,000 by the Bank OF New York II was reportea
that the Royal Bank OF Canada had arranged fo-
r,ie importation OF A"oeo IN sovereisns from the
Bank OF England.
AMERICAN wOOLLEN-The directors or ,b,
American WOollen Company have declares a -
uiar quarterly dividend Of ia per cent on the pre
ferred stock payable on October Is Transfsr
DOCKS Tor preferred stock close on sentsn,har IA
and VIII be reopened October Is This ts ,ha
elNi ,ie'h consecutive quarterly dividend declared
on the preferred stock equivalent 10 SO "a a sba
making the aggregate payment $40 ssT 500
LAKE SHORE FIGURES.-ResuIts OF ths Iaks
SHO'e * Mlehisan Southern Railway Company FOR
me year ended June 80. as reported TO the New
YORK state Board OF Railroad Commissioner ar
somewhat misleading owing 10 the fac, that -
oOafa requires special forms for reporting the
lions or railroads under its authority In thasa
io'Hs inc accounts are not grouped as they are IN
the ofhcial published statements OF the New yort
Sehtrai lines. especially the fiscal year estah-
lished by the New York Railroad law ends ON ~.
." while the fiscal year Of the New York Cen
ual lines ends with the calendar year rha
nsures as reported 10 the Railroad Commits
sOners showed an Increase OF SNfsg7 IN
gross earnings. decrease OF G.2lao IN on
eratins expenses and increase IN net ear,frs,.
OF S-IS2 together with increase OF ~ os s7s tD
nrst charges. 1t Is obvious that these figures ara
misleading. as there was Included IN first charre.
$4,000 In ostteruaents. whereas In 1876 between
100000 and 100000 In betterments was inclpsa.,
In operating expenses and excluded in fixed charges
ny proper grouping OF the figures IN years ana
including oetterments In operating expenses ana
excluding betterments from first charges IN hotn
years. the apparently fictitious changes would not
have appeared In the statement OF the Lake shora
published yesterday
MARKET OPlNIoN.-Henry Clews saws.