New-York tribune., 1906-07-01

total deposits. increase Sll4s20 Reserve o1 d.
imports could take place IL needed The rssso,
that no such importation has been announced q
very clear. At least the surface our monsI
market remains quite easy for the present and
since there is not much inquiry for funds Qua
bankers do not wish to import gold coin unless
there is handsome profit IN the transaction itss.
The rate for demand sterling is not quite los
enough vet for such profit The weakness 6
foreign exchange. however. at this particular tina
gives US the cue for the situation later on. Whs1
funds will be needed to move our crops. and "a
need feel no alarm that any difficulty win be
perienced in obtaining the necessary gold abroad.
because exchange even during a time OF apparent
monetary ease and during the strongest months
Of the year remained very near to the gold import
point. Foreign exchange win act as a safety valVs
and without doubt prevent any serious furry Il
our money market which would be bound 20 Occul
under our present monetary system as soon az
interior points began to withdraw their funds
now lodged in this city
500 DIVIDEND PROSPECTS. Leading
$500 Line stockholders expect the dividend the
common stock viii be raised TO per cent Geuls
annually at the directors meeting the thiEG
Tuesday In September. Some directors favor "a
per cent, but the management feels that this
would be too big jump especially as mora
money viii be needed later for further extension
and improvements. The management believes thas
Canadian Pacific interests representing 81 per CENT
OF 500 stock. viii agree to per cent dividend
basis IL the present crop outlook naterialtzaz.
$500 gross earnings for June are estimated az
S75OGOO and for the fiscal year at Sll.Soooo& Nays
actual figures are $1,000 above the estimate g
published. the percentage OF increase In Cna.
month being - The ratio Of operating expenses
for the fiscal year just ended was below % COM
pared with 81 last year. The average Mileage vas
2Ol5. against LIZA for the preceding year. Mex;
years mileage viii be 150 more
BANKERS VIEW ON IMMIGESA11ON-Aizz
& Robinson. in their monthly bulletin say;
The labor market IN the guise OF 11amlgrafi1a
Is attracting quite as much attention. f not mora
periods "a depression nothing IS more tind than
capital. except foreign labor but Chanks @ 20
Iss tf ISTsf IN The bistoTT Of The contTv
A countrys citizens its best assets. ana
million OF healthy. able-boded immigrants even
strentb Could easily add SloSO056o0 70 ths wealth
Of the nation annually and bring up tnetr enlideI
triotic class Of citizens. Professional technical
9n1 3usiness men. w M4'O 70 "a Si SS 80 ne S14s
tial. What We need is 1mmisra1ts with eoSf
requirements the few dollars they bring are 9:
small consequence. Make the hea1Ih Isga.l-lo-s LOIS
produce something. Every banking house which
IS financing enterprises especially in the South
realizes the need OF labOrers and agricultIrists.
The chief difficulty in the immigration situation y
not the numbers which seek employment and
homes in the United States but their satisfactory
our shores could be landed at the principal ports
attract only passing notice. so quickly would they
be absorbed in wealth producing enterprises.
fboSe ~ which he previously lived ana he win BE-
under favorable conditions is self-evideut For
instance. If the Italians were distributed arens
the Southern States. where outdoor labor IS pos
sible throughout the year, they would become
home owners, and the annual mlgration or I1.s
desirable labOrins class would practically cease
1orr1S S11TS ~ T1oroVy aTT,19Iv- - thol-
native land. 1t is OF prime Importance that the
vate organizations exert themselves in every
proper way to 6Ing about better dlsSEi1ut,on ..
vasion
COTTON 1IOVElIENT.-AccoFding 20 "The II
nancial Chronicle the total receipts Of cotton S-
the week ended June %. $685. bales. as agans:
S1,573 bales a week ago. The total receipts since
September are T570S2S. against s.427.25a for tns
same period last year. decrease OF 1s5l,s2a. Ins
weather has been favorable IN most OF the 0el-
The drouth In Texas has been broken. and thsrs
has been rain in almost all other localities.
DIVIDENDS DECIAARED.-The trustees Of ths
North Side Savings Bank have declared a dividend
for the three and six months ended June 50 az
the rate OF per cent a year payable July on al
sums from S 20 S.000 The trustees OF the Frank
lin Savings Bank have declared a dividend at ths
rate OF 31s per cent year payable July II On CT
sums from S 20 SS.O0O.
IRON CONDITIONS.-PrOducers continue 20 re-
port fair sized sales OF foundry iron. cast-irOa
pipe company is reported to have taken 2000O tons
OF Virginia iron A representative OF a large iron
company says that moderately large sales Of fouR-
dry have been made In the local market in the last
few days at top prices
OPENS BOSTON OFFICE-As a consequences q:
the recent ruling Of the New York Stock Exchang1
that the stock transfer tax OF 2 cents share aP-
plies to all stocks irrespective OF their par value
j. Thomas Reinhardt announces that he has opened
an Ofice in Boston for the purpose OF executing
orders in all New York curb stocks on the curb
there. without the payment OF any stamp tax
whatever.
BANK CLEARINGS.-The total bank clearinss
Of the United States FOR the week ended June 50
one day estimated. were S2.79s 12l.1sT against S.
TO6S46.5O0 IN the preceding week. and AG7sEs9
last year.
REPUBLIC IRON AND STEEL-The earnings
Of the Republic Iron and Steel Company for tls
months of April. Nay and June estimated g.
s.. 100000.
GOVERNMENTS SURPLUS.-Tho surplus q:
the United States Treasury for June was Sls.1i,~
OSl. and for the fiscal year S5.S05ss. The latter
compares with deheit in the preceding year q:
S2S.sS5.752
JULY INTEREST PAYMENTS -Governmont fa-
terest payable July /: -Four per cent Funded Ian
Of 1891. S.ls755l; per cent cOns0s OF 1GGo. ss4-
~ %; total. $A14T,2Ss 70
THE FEDERAL TREASURY.
% soCtN