New-York tribune., 1907-08-02
TOPICS OF THE STREET.

E-oRFIc;N TRADING-Foreign houses dealt on
both sides of the local market buying few thou
sand shares balance London prices were TOO
close to the quotations here to make aroitrage
eratitSns profitable. In London the general market
vas du1I and heavy. with selling Of consols re-
norted for the account of the Egyptian govern
4t ,fo,a,, v-as in good demand, and hardened
70 a ner cent before the close Paris exchange on
London stronger The general markets on the
Continent were quiet
TIME, MONEY UP.-Time money. which reflects
the real position Of the money market. was quoted
as high as per cent yesterday on long maturities
The market was close. with strong demand for
over the year accommodation. which was firm at
s per cent on good mixed Stock Exchange col
lateral The demand for money BY industrial
enuinnoent and railroad companies all over the
country is increasing. and evidences are coming
10 hand of the eXigencies when some concerns
undergoing a result OF business operations and
an accumulation of orders Tar IN excess OF the
financial ability Of the companies TO execute. 1t Is
understood there will be one or more heavy eer-
norste demands for money this week Next week
PREPARATIONS will have to be made for the second
caIi of 90 per cent the syndicate underwriting
subscriptions the 100000 OF Union Pacific
vertible bonds These subscriptions are payable on
August 9.
THE WESTINGHOUSE I.OAN--In explanation
of a point in the annual report Of the WESTINGHOUSE
Electric and Manufacturing Company. which Ieft
some doubt as to the cost of recent financing
George Westinghouse. president Of the company
made the following statement Yesterday:
'The $6GOO1O of s per cent three-year notes
which were authorized 70 provide for the retire.
rnent of a like issue made IN 1904 We're sold 70 a
cv-1dfrate a 81. Offered 10 tfe puoEc az Jli2 ths
entire issue taken W1tHln H'- Gays, and the
oIIotatfons are now fractCnaly above SO bid and
above 100 asked. All the facts Were given az the
,oaatine of stockholders. and the explanation was
-de that the 100000 received by the company from
it's sale Of 10000 shares Of LacklWanna K Wyoming
VaIIev Rapid Transit Company stock which came
into the Westinghouse treasury as bonus when Il
bought the bonds OF the traclloh eIl-I Iprse. pro-
yided for all expenses Of both note issues. Ieav-
ing "A surplus
C~1-ryT1>cC. IRON PRICES-Certai1 producers Of
+r,a7v lIiTorJr
az nrices ranging from 81 70 s. a ton below prices
heretofore prevailing. In certain instances prodlc
ers of foundry iron are offering Ils'eIl-l az tfs-
water at S21 a BeSseIneT IRON IN Flttsours IS
also off from 81 to 81 % ton Tor future delivery
Southern iron prices have been cut nom u 70 8
ton Producers regard the reactlol rs hraIthy, and
trfo-, +ba+ lower prices Will stimulate A buying
r,overnent The tendency of iron prices has been
inward for nearly year Flnlshed sIael prices
have not moved in sympathy with IRON prices. and
fo thfs reason no severe declines IN quotations for
the former anticipated
MOVEMENT OF NONEY-As a result u tn
- It-t,-re.Y,ar+- nv the Sqh-TreaslI-v Weirsg
a for Transportation Of the mails the local oanks
gained 81 go reducing their loss from last FL
dav TO S4sS.dGo In the same time q week ago the
hanks lost s3S70O0o The Sub-Treas-Iry, however.
had a credit at the Clearing House yesterday for
So 2a9 SIS representing a payment by the >outaeru
Pacific on account OF the Central Paci1c Co1-
pauy's Indebtedness TO the United states govern
rnent-
VULCAN DETINNINC- -vice-ChaHceIi0- Pe-gan.
Of New Jersey. on Wednesday issued tie final de-
cree in the case of the Vulcan DEFINING company
against the American Can COMPANY The Anlsri-
can Can Company and all its employees are per-
uetr,aIIL- eni0lued from using the vulcan DeinEi1s
Cor7nauyrs process Of defining tin scrap and the
decree reserves to the latter company all rights ~
gardfnE an accounting and other RELIEF
KEENF SELLING-TLs market which has n0t
reen talking about James p hee--.s operations
lately gave him credit for some cI Je se--lr De-
fore and after the declaration Of The Southern
Pacific dividend. and thought that Ea was respo2-
sible in particular for the reac-o-1-T tendency n
the last hours trading
MISSOURI KANSAS 4 TEEAS-Arl~tsr5arl
was again buyer OF Missouri kansas * Texas n
london before our opening, and the 1C-lSc ssr-i-
mcnt there was reflected in the sJ-21- support
courages talk Of an early dividend on the common
The roads popularity abroad however IS q very
important asset. and one which could le turned %
valuable purpose in the event OF any -@E l---c--s
COPPER PRICES LOWER--CoFre- prices de-
clined = cent for all grades at the Metal 1Ac-a-sa
yesterday. II l. probable that IN t11 course oL l-s
next three weeks producers and consumers d tas
metal will get together for the purpose o- estao-
lishiua prices basis at which business car %
done.
EASTsIAN KODAK DIVIDEND--Dtr5crors ot
the Eastman Kodak Company have declared tEe
regular dividends Of III Per cent on the common
and 2I3 the preferred stocks also an eN--@
dividend OF per cent on the common
ST. PAUL REGULAR DIVIDENDS Directors
Of the Chicago. Milwaukee * 81 Paul have de-
cIared the regular seui-aDnual dividends q -
per cent the preferred and s-4 Per cent On ne
common
PAYING NIIIIkEN BROTHERS INTEREST
The receivers Of NIj-uken Brothers yesterday paid
the interest or 100000 o per cent bonds due To-
day. The payment was made a- the Standard
Trust Company