New-York tribune., 1907-10-31
TOPICS OF THE STREET.

FOREIGN TRADINC.-Foreign houses sold 1900
shares In the local market. chiefly United States
Steel Reading. Pennsylvania and Southern Pacific.
There 4 poor market in London for arbitrag-
ing. ConsOs were weak and the general market
at the British capital depressed. prices being
affected by further liquidation for Berlin
and by the expectation of an advance IN the Bank
ever. passed off without the development OF dis
turbanCe- Money showed easier tendency in
London and was plentiful on call at S1a per cent.
with three months bills at 513 per cent Paris
bought sterling paper in round amounts On the
curb American stocks showed stronger tendency.
the copper shares being the only exception Paris
and Berlin stock prices were weak
NEW PRESIDENT OF INTERNATIONAL,
PAPER COMPANY--At a meeting OF the board of
directors of the International Paper Company held
yesterday Hugh ]. Chisholm. former president OF
the company. was elected chairman OF the board
of directors and A N Burbank. former vics-prssi-
dent and treasurer OF the company, was elected
president. All the other retiring officers were re-
elected and Mr. Burbank was also reelected
treasurer of the company. IN addition to the pres-
denCy.
STEEL RAII. sALES.-some fairly large in
quires in the market for steel rails for delivery
next year. The railroads have been practically out
OF the market for several months. and resumption
Of buying. even for actual needs. on their part
would serve to strengthen the steel situation mate
rlaIIy- New steel orders for the last month two
have, generally speaking. been running between 50
and 90 per cent Of the capacity of the plants
of the country.
CCMPANY--A reorganization committee. composed
IN part Of the directors Of the company consisting
A. l..
William r Fluhrer. John J. Gibbons. NJ. F. Morris
and Philip W. Russell has prepared a plan TO Sc
cure needed fresh capital for the Mitchell Mining
Company.
CLOSING PURCHASE OF PENNSYLVANIA
RAILROAD NOTES--Of the s5OOooOOO PennsyI-
vania Railroad notes maturing tomorrow SS7 O0oOoo
have been taken up to date. Kuhn Loeb & Co. an
nounce that their purchases closed and
that the outstanding balance Of a3OO0.OOO will be
paid by the company at maturity tomorrow
RICH ORE ASSAYS-C. W. Geddes the general
IA =x-p1F 1FCaro
saws that raise No Of the conpanys workings has
ore . feet inches wide assaying S1,O47 for eigh-
teen inches. $3.50 for eighteen inches $s for sixteen
inches and $50 for twelve inches. and that raise No
? has twenty-foUr inches Of ore assaying 1856 It
Is 70 get under these proven deposits of that
the Company's shaft No. . is being sunk by means
Of air drills to depth OF so feet. which depth Is
expected To be reached I'm about thirty days
BATOPIIAs NIINING-The BatopiIas Mining
Company reports that the yield Of silver for the
week before last was 1900 ounces. and last week
II was 2i,ut3 ounces. coming mainly from San MI
guel and Camuchin- One roasting furnace started
up on october 1 and the other roasting furnace
will start on November 1. which Will add materially
TO the output.
MONEY FOR SAN FRANCISCO-The Sub
Treasury transferred yesterday for local hanks
S-5op0 to San Francisco Banks reported an active
inquiry for currency from the interior especially
for small bills
DIVIDENDS DECLARED Dividends have been
declared follows Mexican Lead COu1par,- ras,,.
lar semi-2nnual 3l2 per cent the preferred nav
able on November /; Cleveland & Pittsburg Rail-
road regular quarterly IA per cent original
guaranteed stock and l per cent on its specaI
guaranteed stock. payable December .
LACKAWANNAS observation-disclosures Isrks-
wanna & Western stock sold yesterday at 96sI. a
decline of $o'2 points from the last preceding sale
and the lowest price since March. 1s5 when il sold
at Sl3lt-
STOCK INCREASED.-At a special rnestinr %
W < j. Sloane an increase in the capital stock
from S5"co0 to s4,oc0.eo was authorized