New-York tribune., 1907-08-16
TOPICS OF THE STREET.

FOREIGN TRADINCi--Foreign houses sold So.rN
shares in the local market. doing practically RotE-
ing on the buying side. In London prices in the
general market declined rapidly on the advance IN
the Bank of EngIand's rate. but recovered a part
the loss before the close The settlement was
completed without failures. and American stocks
developed strength ON the curb after the close os
the Exchange. Money and discount markets wer.
quiet and steady at the end. showing better ard
settled feeling after the early break in stock
prices An advance in the German bank rate Is
expected TO be made Monday.
MARKET GOSsfP-AH the large corlmissso,
houses reported Il good response from customers
for margins, and from what could be gathered
from heads OF various firms important house
lost cent on margin accounts as result OF
Wednesdays slump one large house said II sd
vised it's customers to Tighten their accounts. and
in response received additional margins instead
Of selling orders. The greater number OF houses
are demanding large margins. as they fear another
hear attack in the near future. and they sug-
gestin the wisdom Of selling on all rallies as thsy
do not look for n sustained advance in the
future. According TO gossip IN Efgh financial cir
cIes several large accounts which threatened to
come 1IDoD the market were adjusted in a manner
that removes them as market factors Several
important interests were helped BY their friends.
and the knowledge that substantial assistance had
been given to people whose failure would have
cipitated another break naturally was an effective
influence in driving in the shorts. vino reported
that in the afternoon IL was not 50 easy for then
10 get their stocks back as IL had been In recent
DAYS Pepper & Sternbach were among ths
heaviest buyers around the room Notwithstaud-
ing the rally there were plenty OF bears lett and
houses like r, W. Savin & 90 and J. r Wilistol
& Co. were active sellers on the advance while
leading floor room operators put out stock when
nrices were at their best. New York Central
broke par for the first time in ten years in the
early break, and prices as a rule were lower than
NJ any, time in the last two years Some houses had
buvng orders from small investors. out there were
not many bargain hunters in the Street Con-
soIidated Gas sold at par for the nrSt unie IN many
years
BANK OF ENGLANDS RATE UP.-Ths mini
mum rate o. discount IF the Bank Of England
was advanced yesterday from to az per cent.
inst
made a strong showing The last time the rate
was changed April 25, when there was q
reduction from Az per cent 10 per cent A fort
night before il had been reduced from per cenr
The advance In the rate IS unusually early N any
case and is the more significant as the per cenr
rate has obtained throughout the summer eStso-
fishing a higher average than in a1v year s1nfs
1s75 The rate was advanced last year in october.
ard IN 1905 on September 2s while in 1905 there was
no advance after April q With the single exCeP-
tion Of 1900. during the crisis OF the Boer War.
the rate in recent years has not neen advahSed
earlier than September or october. The ADVANCE
surprise 20 the market as up 20 the Sl'Se @
of business "Wednesday no change nan eeen
expected in spite OF the stihening OF discounts
MOVEMENT OF NONEY.-The shipment Ct
r,cne, 20 the interior continues in excess Of re-
ceipts as indicated yesterday by discount
Of per S.es0 on New YORK exenanss a
nesday. The banks gaining on sub treasury
operations on account Of disbursements Tor trans
pOrtation of the mails and pensions FayIne.'s On
this last account viii Increase IN tne h@Nt Two
weeks The gain wednesday was sE2eoo and the
total gain since last Friday SS0e,oe9 agalnsS q
gain In the time a week ago OF si-Iot'"
HEAVY. RAILROAD EARNINGS-For the
fourth week of July the gross earnings Of torts-
one railroads aggregated SIS +les2 against s@s54
6s1 in the corresponding period last year az .,
crease of S9l65l or 1Seo per cell en- ~ i-os5s
Of July the gross earnings OF uitS-elShC IdtIuau'
responding period OF last year. an Increase -
S. fss ~, 11S6 per cent Foe the hrsJ wees e.
August the gross earnings OF twenty S-tEree Id.-
roads aggregated $.6Sso5s. against S'o46S II tns
corresponding week Of last year an increase o.
| ssl IT, or go per cent From July ! TO AususO
the gross earnings OF twenty-tETee rsArodus ds-
rregated 81 s0I ss4 against $S73I1fSS in the cor.
responding period Of last year an increase Ok
| 5so45S. or 1870 per cent
\ PRICE CURRENTS CROP SUMMARY
The Price Current in its weekly crop summary
saws: Corn continues making sood prosress
Winter wheat thrashing s,an,sinS cal v
crop Hog packing for the week reported az 4st-
Coz against $500 for the same week last year 20
/ the season total is 12.5l5ce. an increase 'l
| 1855 600"
REGULAR STANDARD OH. DIvIDEND.-Ths
directors 5f the Standard OIL Company have te-
clared a dividend OF S. share payable September
/ a. This is the same amount declared at tnis g
1 riOd a year ago and in 1900 SO far TINS Eear 'T
! company has paid SEQ share IN dividends- -. Ia
1904. 1893 and 1902 dividends OF - snare were y
cIared: in 1901 and 1900 dividends OF S snare wee
| declared. In 1890 TO this date the DIVIDENDS de-
| cIared by the company amounted 20 SS a share;
/ in 1891 to $40 a share. IN 1892 So a share. m 1Ss
| $50 a share in 1894 s2s a share and IN 1876 and
| 1895 $50 share
| RI-BUIL4ION PROGRESS.-Accordins 20
/ Woolsely SfcA- Johnson, OF the engineering -
of the Tri-Bullion company. the presence OF NlIse
sulphde Of Iron in the shele OF the IfaSiUI - 80
of the Kelly mine OF the TriB1ll0n SrlleitLhs a. a..
Developing Company the location OF VIZ .s5v, -
| far from the upper contact indicates an extsns-s'
naturalization at depth. where either TIE 4eL9o -
rock or the limestone has been suscepuOis 30 -,
placement by the rnineralzins solutions \ So. 80.
of the deposits there leads 10 the conciusion -
the solutions deposited the ore heavier ana TO-
| at depth. because they were nearer tne sum- -,
! solutions and consequently under greaisr phe -
! IMPROVEMENTS AT HANSON NINE -
air COMPRESSOR a siy-drii Canadian -Ftano nas -
| Installed at the mines OF the Hanson ConSo -
| Silver Mines az Port Arthur New ooLets
working the pumps and eEsnss nATT ra1t Of the
placed. and a result the whole pSne y usrh
| COMPANY has been put in first class sispe' w.
! all machinery up 10 date -
| MITCHELL, MINING COMPANY RAILs-L.-S
Mitchell Mining Company is in recelps 9. Win
| advising it that the steamship Stratnslans .a-
the rails for the la Dicha & Pacfc i-.llio ths
meeting its mines in Guerrero MeNcO. - ,-,-o
| Pacific Coast. arrived at Acapulco iAst Hs"- ~
/ Antwerp
| national LEAD DIvIDENDs-Ths dEsc,r.s
OF the National Lead Company have deciafsu "a ~.
regular quarterly dividend OF IL per cen, ,,srd 90
common stock and the regular quarterly "
! OF rs, per cent on the preferred stoch-
COPPER PRICES IOwER-The price o, eoP.
per was reduced yesterday by the MetaI s -. 20
and by the American Metal selihg 1,lr -,,n.r
a pound. making the quoted priee n,1, In Ss,r.pany
1sa,c 10 fsItc The United Metals Seiiihs N'
made no change IN It's quotations. ,,
CONSOLIDATED GAS NOTES.-The 1tas1.s-
dated Gas notes which were pGrchasseo - m,
day by n. W. Harris 4 GO. Were nsr cent
Street yesterday at s'. approa'ni"'e''
income basis. z A.
! AMERICAN EMPRESS DIvIpENp~In',
rectors OF the American Express SonYAS ~ q PER
| declared the regular quartsriS "i'
cent, payable October l.
| rrnrrr-D STATES ENVELOPE COMPANl-.
T1, rercrt OF the United States Envsiope 80 -,