New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-05-30
TOPICS OF THE STREET

10000 shares in the local market. all purchases
The chief buying was IN the copper issues JTn,o
Pacific. Canadian Pacific and Baltimore q ob,1
In London and Paris the general market showed
better tone. On the London Exchange consols
were up and the copper shares were strong Tba
settlement proceeded without the develonmsn+ :.
trouble Money easier and sentiment at tia
British capital favorably impressed by tina
shifting OF the Paris demand for gold to New
York.
MARKET GOSSIP-Wan Street attached eonsid-
cradle significance the buying of stocks by Vest
houses. which recently have been active on thu
bull side Of wheat. and the conclusion was reached
that these firms had good information tending to-
Offset the recent crop ruin stories from Chicago
The situation in the agricultural sections of thu
country Is not nearly as dscouraging as reported
and the fact that there is an enormous supply Of
grain hand ought to be borne in mind in caIcu-
latons regarding the future price of wheat ana
corn The New Street bear crowd did considerable
covering yesterday and showed some uneasiness a.
result of the appearance in the market OF buying
orders from substantial quarters A O. Brown &
Co, ]. r. Williston Mendham Brothers and other
houses which have been selling Analgamated Cop
per lately rather freely buyers in considerable
quantity the early advance The houses
were buying in other parts OF the room. and the
New Street bear contingent also credited with
a movement to cover It's shorts Berlin buyer
of Canadian Pacific and Baltimore & Ohio, whls
London also bought these issues but arbItrses
transactions were light due TO the fact that to-day
the local market will be closed c. D. Barney "a
Co were active buyers OF Reading their operations
attracting attention owing 10 the Philadelphia con-
nectons of the house and their recent selma, Of
the issue. II IS we'll worthy OF note that
Union Pacific recovered it's 215 per cent dividend
on the day it came off This is quite a frequent
event in rising market. but had not happened for
months past 1t had a decidedly encouraging effect
upon public sentiment The heavy short interest in
United States in mir NJ
that the stock would be raided. The purchases OF
Hallgarten & Co, Chisholm & Pouch. E. F. Hutton
& Co. and Ebon Stevens in Reading amounted to
5000 shares Rutter & Gross sold freely Moore
& Schley and Keech. Loew & Co sold Northern
Pacific. Watson & Co. bought Great Northern
A o. Brown & Co. ]. R. Williston & Co. and
Mendham Brothers bought Amalgamated Copper
against short sales made recently. Bartlett. Fra
zer & Darlington bought Pennsylvania. H Con-
tent & Co. Miller & Co. Chapman & Seaman and
z. D. Winslow sold Union Pacific.
AMERICAN LOCOMOTIVE COMPANY At
Tuesdays low of 551a American Locomotive COM
mon selling a little better than per cent
income basis Interests identified with the company
scout the idea of there being any present danger
a decrease in the present per cent dividend rate.
The company will close It's present fiscal year on
Jane Sc with The largest gross earnings In ts his
tory and net earnings fully up 10 last year. II IS
understood that the company has orders for loco
motives booked ahead sufficient 10 keep its shops
IN operation Tor substantially 1uI Twelve months.
The first instalment OF the 100000 one-fve-year
serial per cent notes which sold last De-
cember natures next October. The company is
planning pay of this 100000 Of notes from
earnings.
ERIEs PREFERRED DIvIDEND-one Of the
most prominent and conservative interests IN the
Erie Railroad says that there is practically no
doubt that the regular dividends on the preferred
shares will be declared at the approaching dividend
meeting of the board of directors. He also reiter-
ates the same optimism which was heard about
Erie year ago. when the road was running
along rapidly on even keel and when the present
money stringeucy and high cost of labor and ma
terials were looked for.
TENNESSEE COAL & IRON.-The new steel
rail plant OF the Tennessee Coal & Iron Company.
which VIII eventually have capacity OF 500 900 tons
OF rails year. IS expected be ready TO roll rails
by November OF this year. In the mean time rails
will be rolled by the present mill While the rail
produced by the Tennessee Coal & Iron Company
under the existing process is perfect as any pro-
duced in the country. it is stated that under the
new process the rail produced viii be far Superior
70 those now manufactured
BIG FOUR NOTES ALL sOLD.-Monat g
White and J. & ". Selgman announce. as man
ayers of the syndicate which took the Cleveland,
Cincinnati. Chicago q St. Louis four-year 5 PER
cent notes to the amount Of 100000 thar The en-
tire issue has been sold to investors IN London
Paris and New York.
CHICAGO TERMINAL TRANSCRIPTS fol-
lowing new directors been elected TO the board
OF the Chicago Terminal Transfer Company: W
w Miller. of New York: Clarence a. Knight.
Maclay Hoyue. W. b. Barr. T. NJ. Buffers and F.
b Huntington. of Chicago. a. C. Emery and E.
NJ. LayfeId OF Chicago. We're reelected.
NEW CONSOLIDATED MEMBERS.-w. PortsS
Wilkinson. George W. Lehman. B. ". Bunker
and f. j. Woods have been elected to membership
In the Consolidated Stock Exchange.
RECORD PIG IRON PROBATIONARY pro-
luctiOn OF pig iron this month will likely be tha,
largest ever reported in a single month. The gsn-
eraI opinion is that the product this month VIII bs
nearly 2500OOO TONS the OF $1,000 900 tonJ
year.
AMERICAN SMELLING AND REFINING
A director of the American Smelling and Refining
Company says that the dividend the cOnnmon
stock will be Increased at the board meeting on
June s. He declined to say. however. how much thd
increase will be. The stock is now receiving pes
cent a year
NATIONAL CEMENT CO1IPANY.-Ths Na1
tional Cement Company has been incorporated WITH
a capital of 100000. The company viii cree. .
plant with a capacity of 1000 barrels a day.
CALUMET AND HECLA REGULAR DIv1>
DEND-The directors of the Calumet and HeciH
Company have declared a regular quarterly divi>
dend of so a share the three months ago.
A year ago SIS declared.
UNITED STATES LEATHER.-Ths special
meeting OF the stockholders OF the United States
Leather Company. which has not bean held be>
cause of the injunction OF Chancellor Emsrys
has again been adjourned. this time until June
HAVANA CENTRAL-Speyer & Co. acting for
]. Henry Schroeder & Co. Of London. inform holdt
ers of securities OF the Havana Central Railroad
that the time for depositing their securities VIII
amount has already been deposited 10 assure ina
success OF the plan.
LONDON UNDERGROUND-The coupons on
London Underground notes due June will be paid
at the office of Speyer & Co. No. 2i2S Pine street,