New-York tribune., 1907-06-28
TOPICS OF THE STREET.

7 IuPlCS OE 1dS OlhEE1.
! FOREIGN TRADING.-Foreisn houses dealt In
I5CCO shares the local market all purchases, ex-
cept Z; few sales of Union Pacific. Foreign houses
reported a better sentiment in London. Cue the
clearer financial position. but no disposition 70 take
hold of our stocks without a definite lead from
this side. The general market at the British cap
itaI was iirm. Call money in London was in
| strong demand at per cent ana there large
! business was reported in short time bills. The
/ Bank Of England made no change in its minimum
rate of discount. though the weekly return showed
a falling off in resources.
| CALL MONEY UP-CaH money rates advanced
! 10 per cent Yesterday the movement representing
the shifting of accounts incident 10 the prepara-
tions for the July interest and dividend dlsourse-
neuts and the increased activity in the stock mar
ket at a time when bank holdings We're low So
far in the current week the local banks nave lost
no. to +he Sub-Treasury upward OF SS0oUn,
ing TO deposits with the government against gold
withdrawn from the Treasury vaults for Shipment
atroad hut the course of foreign exchange tndi-
/ Gates that losses tins account are about at an
end The advance in money was responsible for
decline in sterling of 30 points II Is not IN
1f-o1,. that rates for loans will be higher tO-Tcr-
row and At the opening of next week Inc banks
gained Yesterday in their operations WIN tile gov
ernInent for the first time IN hldIiy uIS wis 70
t ,,,-rneDt of $4,000 Assay Once Greeks on ac-
count OF gold received at Seattle from the Nlon-
dixie From now the hanks VIII oe heIpee oy
r t,-aIs ~ gold from the Far North. and the
rrer rates for loans doubtless viii attract oUtsla
| money.
/ CT PA1-I, TO SELL. STOCK--The Chicago. Nil
- g St paul soon will sell about Soo shares
Of its nreferred stock and with the proceeds VIII
nav off the stockholders who received IactohaA
rights on account of the new $lJ'VjuVV SUN IS'8
of a few months ago. St. Paul preferred IS selling
i'm the neishbo of 145, and at thiS IEuEe u's
- cf soo shares would bring $1l6GCn- Ile drec-
/ tors OF the company have been waltns Tor d Ia
vorabIa opportrnity 10 sell treasury stock and
they believe that the general market IS no" oh ulo
inward course and that they will be able 10 sen
the stock at a better price than lb- 81 Paul pre-
farred has sold at 2l9 and better Holders OF o0d
lots of ST Paul stock were not IlcI'.SU a. IN N INC 'n1
plan Of allotment for the subscriptions 10 the new
stock but subsequently, under pressure Iracuohat
warrants issued, the payment LOT "H-cl VIII
be made in the near future
DIVIDENDS Observation-Disclosures nave oeea
declared as follows: Wells Fargo Express COM
pany regular semi-annual per cent paEaole July
Is: Delaware Lackawanna & Western, regular "a
per cent. payable July ~; New YORK anu ->ew @ 1eI
sey Telephone Company, regular quaFterly Ia per
cent payable July 10; Dstlllers SecdIliles Si ~
pOration regular quarterly i'2 PEI cen, t, t1se
Julv "a: Bank of the Manhattan Company, resular
sen1i-anuual 6 per cent, payable july !; New 4ork
County National Bank, regular senl-annual . per
cent Tavabe Iulv |; United states Finishing Com
pany regular quarterly Ia per cent on tNe pre-
ferred payable July /; United States Morts2se ana
/ Trust Company, regular sem-annual DIVIDEND, 49
per cent.
NO SLUMP IN PIG IRON MARKET.-The re-
port from Pittsburg that there has been big stump
of 81 ton in the price Of pig iron at FittS5uig
owing to the resale contract iron made by Mill
ken Brothers before their failure. is regarded by te
| highest authorities here as exaggeration RoS-
ers Brown & Co. for instance. say they know OF
no decline in the price of BesseTner pig ana state
that the reports printed were incomprehensoLe:
there had been any change whatever The Iron
Trade Review" in It's issue Yesterday also refers
10 the sale MiIiken Brothers lrOn and saws that
il has been marketed without affecting the pig iron
market in the least. The Iron Age also makes
statements to the same effect 1t = fact' now
ever that the bear element IN the pig IRON H2iTAer
has been using the Millikeu Brothers episode for
all il s worth force a concession in values
DUN'S CROP REPORTS,-D Dispatches 20 "Dun's
Review from branch offices Of r. c. Dun & Co
situated in the leading agricultural centres indl-
that the last week has provided exceptionally
favorable weather in nearly all sections. and the
crops have made rapid progress. There stiu
many references the fact that the crops late
but this obvious from the backward season At
the start and It IS gratifying 70 Hnd So many evil
denCes of recovery from early adverse conditions
Sections thaJ issued most hopeless reports at the
start now promise weld OF - per cent. and few
OF the important staples viii fail 70 provide
ample crops. if present weather conditions are con-
tiuued for few weeks.
CROP ESTIMATES OF H. Y JONES-Watson
& Co. have received the following report by wire
from Minneapolis this morning Mr. Jones's
winter wheat estimates last May Of S25.0o0,o09
buShelS was based p2rOE on d possible Kansas
Weld OF So 00o 900 bushels Damage sustained suCa
then, carefully computed. leads 10 the conclusion
that Kansas. Texas and Oklahoma combined Will
not produce more than $4,000. 600 bushels. nor
examinations in Nebraska and other important
parts Of the belt note any Improvement 20 Offset the
loss. Spring wheat in the Northwest is suffering
from dry, cold weather in places where the plant
is short and Of thin stand. conditions being ad-
verse TO speedy. healthy growth
NEW MEMBERS OF CONSOLIDATED Ex-
CHANGE. 2. Foye. who had been private Sec
retary 70 John W. Gates UP 70 the time Of the
dissolution OF 9. c. Gates & Co, was admitted 70
membership in the Consolidated Stock and PetrO-
; leum Exchange yesterday. II is said that he
poets 10 go into the commission business Israel
Putnam. OF Saratoga Springs, y. Y. who has been
a considerable operator in the market. has also
/ r,,rrbasad a seat in the Consolidated Exchange -
/ conduct mis- operations s. Beekman Laub.
who has been with Miller & Co. of the New York
/ Stock Exchange has also been admitted 70 mem
/ bershp.
I CENTRAL. NEW ENGLAND PROTECTIVE
/ COMMITTEE To ACT.-A meeting OF the security
pauy has been called by the protective committee
headed by T. c Delavan. 10 be held in room 200.
Bourse Building South 4th street. Philadelphia, at
n July .. The notice sent out stock
ties are earnestly requested 70 be present as the
time has when the committee must proceed
with its plans, and cannot wait longer for others
TO join those who have already deposited their
7 securities 80
/ AMERICAN TELEPHONE AND TELEGRAPH
! According 70 William w. Cook general counsel
for the Mackay Companies. that organization
ercised its rights TO the full proportion OF new
stock OF the American Telephone and Telegraph
Company. which will be allotted 70 it according
! 20 its present holdings AS the Mackay Companies
hold approximately 10000 shares, their proportion
shares already held will be about 1so9 shares, and
would entail the payment OF N.l60O0o.
COPPER COMPANIES PROSPERoUs.-Two
prominent copper companies yesterday increased
their dividends The Tamarack company declared
sem-annual dividend of 81 a share. comparing
/ the Osceola company have announced ssrnt-a1a-
nual dividend OF 81. against 50 six months ago.
PEOPLES GAS LIGHT AND COKE COM
pany reports for the year ended December 81 last:
Gross earnings Sl.6S00ti; operating expenses, S-