New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1906-08-02
WALL STREET AND EXCHANGES.

FOREIGN TRADING.-FOreIgu houses dealt IN
5000 shares in the local market buying 10000. In
London Russian bonds were weak and the general
market was heavy. except in the American depart
nent. There was no change OF Importance in for
eign discount rates and great reflection in the
various markets OF the troubles in Prussia.
CHESAPEAKE & OHIO-The June earnings OF
the Chesapeake Ohio, with increases Of $4,000 in
gross and s95OOO in net. make the fiscal year show
UP even better than had been expected some months
ago Aside from making a gain Of sSS7soo0 in
gross earnings. the road was operated for GOA uer
cent Of gross. as compared with $50 per cent the
year before. The preceding year fixed charges
taxes and other deduction amounted 70 Sa77sO50
not including payments on the principal OF car
trusts. II Is likely that charges will rise above
s49c0OoO for the last fiscal year. in which case a.
surplus can be figured out equivalent 20 per cent
on the SS2so00 stock, against 457 per cent in the
preceding year
UNITED STATES sTEEI4-A director OF the
United States Steel Corporation says:
The amount OF money set aside out OF earnings
up 70 June 80 lsO8 IS sufficient 70 cover all the
plant at Gary during this yeaT and 1s We S S5eeI
expenditures for the next five years on that plant
ooO.O0O and ne full development OF IT, which win
Involve Tie expenditure OF approximately sO0OOO
Bonds representing part of the cost OF this prop
main In the treasury of the United States Steel
Corporation and will not be offered to the public
FAILURES IN JULY.-Commercial failures In
20 statistics compiled by r. c. Dun & Co. were T2s
In number and $69l9OIi in amount Of defaulted In
debtedness. This is the best exhibit as 70 number
for the month OF July in any recent year and
while the amount OF liabilities was somewhat
larger than in July. 1906. no other year OF the
preceding decade made as good q showing except
1893. In the corresponding month last vear there
were ISG failures, involving s61as.sSO Manufactur-
ing insolvencies last month numbered 14a with liza
bities Of g. 6l6lO against failures in the sare
month last year. when the amount OF Indebtedness
was $S.519,739. Trading defaults were 500 In num-
Der and S.659S2 in amount. against 500 failures In
1905. when liabilities were S2i6aosS There wore o,
other commercial failures for siss S against 70 Iasr
year when the amount involved was Sl6O1O5. SIEVE,
banking failures provided SiO5.OO liabilities wbiIa
there we're c!sht suspensions last year for 81 or
SIS and 10 in ls5s when the indebtedness was SEN
2s9
CANADIAN PACIFIC'S PROSPECTs-.As the
directors OF the Canadian Pacific will meet soon 90
declare senni-annual dividend, interest continues
TO attend discussion regarding the prospect Since
the last dividend paid there has been a decided
change in the situation all the land grant bonds
have since then been retired and cancelled About
$4,000 month Is coming into the treasury OF the
company from its land department.. which already
has AZ It's credit about Sl2,cOO00O AS the bonds
department must be distributed stockholders In
some form. bonus IN addition TO the regular
dividend Is therefore expected even though rate OF
dividend should not be increased
CONSOLIDATED STOCK AND PETROLEUM
EXCHANGE MENBERSFIPS.-TheOd A. Mool-
ton has been elected a member OF the Consolidated
Stock and Petroleum Exchange The following an
plicatiOns posted for transfer; John c. Cro1lp-
ton. Everett S. Ruskay W. J. Do2ier J. Edward
sherwin and NJ. ID. MeliOF. IL Is understood that
recent sales OF memberships have been made M
$500 which IS the highest price sor several years