New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-07-16
TOPICS OF THE STREET.

FOREIGN TRADING.-London bought about
10000 shares of various stocks in the first hour OF
trading this market and later sold nearly tbs
quantity. American stocks in London were
strong. quotations being generally i 10 z per ce,r
above parity in the active stocks. The general
market was quiet and Rio Tlnto strong. COnsOls
shade better Money abroad was in fair
but not unusual demand. The Bank of England
should further strengthen its position during TIA
week. although indications practically al
against a reduction in the Bank rate before money
tightens up in the early fall
CALL ON UNION PACIFIC SYNDICATE
Kuhn. Loeb & Co. as syndicate managers. have
called the participants in the Union Pacific bond
syndicate TO pay on Monday July .. the initial
instalment of % per cent on their aIIOtments II
is understood that only per cent of the So NNO0o
bonds were taken by the shareholders, the amoune
allotted to the underwriters being therefore ST.
COOOOO
THE IRON SITUATION.-Rogers, Brown & Co.
in their review OF the iron situation. say
THE figures for June pig production show that
the rate Of output during May has been maintained
and ever slightly increased The better deIiv-
cries for these two months have brought aboue
marked relief to spot scarcity Many stacks. how
ever. away behind in deliveries. and COM
plants from customers that they nave been ser-
Ously damaged by failures 20 deliver infre-
Quent. Sales for forward deliveries continue light
and the market is featureless. but tho rate as
which buyers are accepting deliveries Indicates no
let-up IN consumption. 1t IS inevitable that con-
siderable buying will still he done for the rest
of tho year, but neither sellers nor buyers show
any anxiety the issues of prices present
Meanwhile the market seems 10 be taking care ot
pcaranCe CT spot premiums, quotations for future
deliveries remain surprisingly strong
MR. HARTMAN NOT IN TOWN.-E. H. Farr
man who il had been expected might give oue
Yesterday his reply TO the report of the Inarsta4s
Commerce Commission on the Hartman system
Of railways spent the day at Arden, y Y. his
country home in Orange County. He VIII probably
be in the city to-day
DIVIDEND INCREASED.-The directors OF ths
Tennessee Copper Company have declared dfvi-
derd Of 50 a share which compares with a dIvf-
e1.ara IL a-=1G six rr1r,D his az
METAL EXCHANGE LOWERS COPPER
PRICES-AH grades of copper were reduced in
price yesterday at the Metal Exchange from >
10 u cent a pound. Lake was lowered = cent IN
ho+b the hid ana asked beine, quoted now al 21s.s
pc eIactrolytic = in the bid and l. In tina
the bid and asking price at 2oQ20lac.
NEW STOCK BROKERAGE FIRI.-Wilia1a
Herbert James P Tweedy, Horace Bull and Car
ence L Rowland. al OF whom We're connected with
the late firm of Wilson Watson & Herbert have
formed a copartnership for the transaction Of q
stock commission business under the firm name OF
William Herbert & Co. with Offices in the Hanover
Bank Building
MR. LOREE'S NEW OFFICE. 2 Iorea
president Of the Delaware & Hudson Company. has
been elected president OF the Troy & New England
Railway Company an electric railway property re-
Gently acquired by the Delaware IS Hudson
CAR OWNERS To CONBINE-ArcorIing to
adv!ces from Pittsburg. plans are being made for
the organization of individual car owners into an
association which shall deal wiki the railroads in
the matter OF the handling OF the rolling stock OF
large industrial and mining corporations. IL -
said that there are 30 such concerns owning IN
the aggregate about 10000 cars OF the average
value OF 81 900 each. A call FOR a meeting IN CIeve-
land on August and . of those interested IN the
movement has been issued Robert J. Bailey.
temporary secretary Of the projected association
has made an approximate estimate Of the number
and classification OF cars owned By different in
terests outside the railroads. These show there
are 1904 coal and coke cars owned oy Pirtsours
concerns 2515 in Cleveland. $3.50 IN Philadelphia
and +.2Si in Balttn0re New Ao'N IS crealted
with 1900 tank cars but these ara mainly owned
by the Standard OIL CCu.ao There are 5000
stock and box cars, mainly owned By the packing
interests n the West