New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-05-25
TOPICS OF THE STREET

1OA4Co Or LIE SlhEET
FOREIGN TRADING.-Foreisn houses deal. ",
GOO shares in the local market selling SEQ share.
London eonsoIs We're weak and the general NAL.
heavy Rio Tnto shares showed some strsD.s
but elsewhere in the mining department. prices rsr
down. Realizing sales were reported the ,novernan
being due 10 the approach or the fortnightIv 81,
uement. stock sold being put out to even IN bsfor.
the beginning OF the new account. Discounts r.
hrmer. At Paris money rates were unChanrad -.
exchange on London lower. Berlin exchsu
on LONDON was slightly frmer. The position OF 49,
foreign securities markets is about the sam. -
that OF the local market. Prices are selling A. -
near the lowest figures of the year and there
pears little chance OF Improvement in the nas
future. Uneasiness i expressed Paris over e.
Russian outlook.
BANKS GAIN CASH-The reported n,ovar,.-
OF currency this week indicate gain in cash 80,
by the banks of SS.944.900 They received FROM, 90
Interior S5,94J.SUJ and the interior 81 S-S M
including $l.2000O transferred TO San Franc,-a
through the Sub-Treasury and 81 25500O nato,,,
bank notes sent to Washington for redemption D..
ceipts OF new gold We're SI.00s.5OO The gain NO.
the Sub-Treasury 81. 500 go. due chiefly "a So
falling of In the receipts Of the government rror
all sources, and small increase in the disburzA
ments. Pension payments were $l,93G000 comnar
ing with $2.1i5O00 in the preceding week Custom,
collections fell off TO SS5S5.6f0. comparing with
S4O40 go in the preceding week This the snalas,
amount collected for customs in any week sine,
that ended April - The decrease is probably dp.
to the longshoremen's strike, which prevented thu
unloading OF several steamers. The Sub Treasure
recovered from banks and sent to WASHINGTON n.
redemption S653.000 mutilated banknotes
CONDITIONS IN NIONEY.-The close OF III.
monetary week shows a hardening ia the MONEY
markets OF the world. Locally. the only actual
quotable change in time funds has been an a..
OF 4 per cent for nine and twelve months
The inquiry at present appears 10 be almost en-
tirey for money carrying over February next year
At the same time call money has loaned at clos.
dulness and decline in the securities markets
The visit Of Secretary OF the Treasury Cortelvo,
10 tl!is city has ended without any open develoo-
ment in the direction of call upon the national
banks for deposits OF government funds and con-
sequently. there IS keen interest regarding IN.
contingency OF impending exports Of gold
Some OF the largest international banking inter-
ests have expressed the opinion that unless soms-
thing develops to harden our money markets gold
exports inevitable. Sterling rates were strong
yesterday and Paris exchange on London wa.
weak. The domestic money position Is also benx
affected by the intermittent announcements OF ney
railroad and other borrowing
GRAIN EXPORTS FOR THE WEEK.-"BraS-
streets" reports the exports OF grain for week.
with comparisons. figures in bushels. folIowsi
Wheat, -four included, S.SS46sS against III las.
week. 423437S in this week last year 1221 ~
In 1895 and 5l8iS3s In 1902. for the fiscal year %
date l53@7s.166 compared with 122 100 357 in 1866,
57.226s7 in 1S04-05 and go 80 745 in IoI-02 Corn
l6osl5 contTasted with I9069OS last week S1S0s7 IN
this week year ago and I325 80 in 1875: for the
fiscal TO date. 6e14s.160 contrasted with H.
SsSSS in 1886 and 74.42l151 in 1s04-c5
SOUTHERN RAILWAY.-Southern Railway pre-
fsrred declined yesterday more than points On
selling by T. l. Manson & Co. Foster & Iounsbery
and Benedict. Drysdale ( co. The stock has been
lending at a small premium for long time past,
and this IN fact. has been almost its only support
II any real long stock is coming into the marke.
this help will be withdrawn. The price was the
a. V-hR tha iy-fd end >
Atlantic Coast Line sold of probably IN sympathy
with the weakness OF the Southern Railway issues.
Interests identified with the property believe that
IN the event Of q reduction in the dividend IL
Will pay 10 hold the stock
CORN PRODUCTS REFINING The Corn Prod.
ucts Refining Company has decided temporarily -
abandon the building OF plant ar Summit,
near Chicago. No action Will be taken on the mat
ter for at least a year IL proposed 70 PIE
100000 in the plant and make it of the largest
factories OF its kind in the world \ Representative
OF the company says 1t has vet been assured
OF sufficient water supplies summit. and -ha.
while this problem IS being worked out the work
Of the management will be devoted TO the equip
ment OF the existing plants 10 bring hem
all up 20 the highest degree OF efficiency and a
same time cut down cost Of production
GENERAL. ELECTRIC BONDS-PrsSd ent Cos-
fin. OF the General Electric Company has issued
circular letter to Stockholders stating the
upon which subscriptions will De- received q -
Ss,Oo,Oc0 OF convertible bonds. The bonds will -
dated June l. iy7. and be converted into stock
par after June l. 1911 The bonds may be called
by the company any time after June I. 1871 upon
ninety days notice Io5 and interest Bonds
Will be in CO and S5,J denominations. Asssnabls
warrants VIII BE- issued soon as possible after
June 20 The right To subscribe expires July 20 ant
payments OF 30 per cent each are 10 he made On
July - and January 20 1905 Full payment may "a
made July %
ROCK ISLANDS FINANCING.-Tbe Chicago,
Rock Island & Pacific Railway Company. IN selling
100000 of its first and refundiug per cent bonds
10 meet the payment Of notes due July !. and s3-
expenditures the property. furnishes the frss
instance In many months OF the resort 70 the Iou=
term straight mortgage issue obligation. and IN
contrast 10 the extensive which has been r1sds
OF short time notes by railroad corporations. Tbs
operation doubtless will be taken rs a fsvorabls
sign OF the future Of the securities market.
PIG IRON CERTIFICATES iron csrtifs
Gates the New York Produce Exchange wers
dull and neglected. There sales Prices
for standard foundry follow: Cash. So bid; May,
June and July So 80 bid: August. 50 bid. Septeul-
Der. s2lQ25: October. S20a25.
ROCK ISLAND DIVIDEND--Tbe directors o..
the Chicago. Rock Island < Pacific Railroad COM
pany have declared quarterly dividend % psr
cent. payable July l.
GENERAL. CHEMICAL REGULAR DIVIDEND.
The directors the General Chemical CnpnpanH
have declared the regular quarterly dividend OF ~
per cent the preferred stock. payable on July