New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-02-08
TOPICS OF THE STREET.


Il COO shares I'm the local market selling on bal
ance. In London the general market was quiet
with rather an easier tone in the mining depart
rnent The Bank OF England made no change IN
its minimum rate OF discount while in the open
market rates remained at the preceding days level
both in London and on the Continent
MARKET GOsSIP-Covering Of shorts IN the
last hour was ba sed in part the report tt lat the
second visit Of Thomas r Ryan the White
House within two DAYS would result in an an
nouucement by the President regarding tho ad-
r0inistratfon's attitude toward corporations. and
that this announcement would silence the foolish
fears of people who believe that the President Is
seeking to damage the country's industries by dis
cluIinlng corporations. Mr.. Ryan at the White
House twice in one week certainly furnishes food
FOR Wall Streets digestion. but It is silly 10 sup
pose that the President OF the United States In
tends 10 say anything that will serve TO boom
stocks. The advance in Canadian Pacific was due
10 the sale by tho company OF 1850. 90 preferred
stock IN the London market at price that proves
the high credit OF the road abroad This issue
gives the company funds for n It's policy Of
expansion and puts At rest the talk OF an issue
OF the common present. II is thought that the
Brady pool Is beginning TO move up Brooklyn
Rapid Transit. Traders have been allowed 20 sell
this stock 10 a stnndstill and Il is in posi-
ton that makes II dangerous short sale There
is still bear account in II. which has been allowed
TO borrow all the stock II wanted. Standard oil
brokers active IN the days market. II. Con-
tent again was a large buyer OF Reading
CANADIAN PACIFIC PREFERRED STOCK
ISSUE.-The Canadian Pacific Railway Company
has sold $750O000 OF Its per cent non-cumulattve
preferred stock in London at 1911 This is re-
garded as the cheapest railroad financing done for
time by any American or Canadan company.
The total preferred now outstanding, nclrding tho
new issue. is 45. 35S,So and as the charter OF tho
company provides that tho preferred stock shall
never exceed one-half OF the common. It would be
possible with the present common stock OF S12l.-
0Ooo00 to have total issue OF preferred OF 500
10000. The preferred stock is listed the London
Exchange and is not dealt in herr.
PIG IRON CERTIFICATES.-Pi iron certificates
at the New York Produce Exchange dull but
steady There were no sales. Prices for standard
foundry follow. February. SO so bid; March S228
S23; April. S22gS22 80; May. $gG$22 June, July and
October $50 asked
ROCK ISLAND NOTES SELL. WELL-It IS an
nounced that nearly all OF the $65OO.CO0 Chicago,
Rock Island s. Pacific Railway Company's ~ per
equipment notes. which were purchased by
Speyer & Co. have been sold basis TO yield
ga per cent
SOUTHERN RAILWAY COMPANY APPLIES
TO LIsT-Thc Southern Railway Company has
applied TO the New York Stock Exchange TO list
S25OO0O additional ST. Louis division per cent
bonds OF 1851 $4,000 additional Memphis division
first mortgage per cent bonds OF 1896 and S5l 900
additional first consolidated mortgage per cent
bonds Of 1894
CANADIAN PACIFIC DIVIDENDs-The d.
rectors Of tho Canadian Pacific will meet next
Monday declare the half yearly dividend. pay
able April l. The bonus OF one-half OF l per cent
out OF the proceeds Of land sales also will de-
clared. There is expectation OF a change in the
regular rate at this time
STANDARD OII.-The directors Of the Standard
on Company will meet this month 10 take action
the initial dividend for the current year. The
opinion prevails that t15 share. the same rate
In the corresponding time last year. will be de-
Clared.
DIVIDENDS DECLARED.-The National Biscuit
Company directors have declared me regular quar-
p srS FeTu9ry % TaG InS o tire
can Tobacco Company have declared the regular
STOCK pSy9bIS March n In PCT cent OH the common
JANUARY ANTHRACITE PRoDUCTIoN.-The
production of anthracite coal In January was
6241.s46 tons. compared with h4SSOss tons in the
NEW STOCK EXCHANGD MEaBER-JSmss
York Stock Exchange yesterday
CHICAGO PNEUMATIC TOOL COMPANY
Statement OF profits OF the Chicago Pneumatic
Tool Company for the year ended December "a 1906:
Profits for the twelve months. 81 oOI $50 "a
plant machinery. incIud-
ing repairs and renewals OF
Less written on for develop
ing ana perfectng tools. 21999 OF
1SOOsI As
Less bond interest for the year $4,000 90
Less sinking fund Instalment.. 10000 90
s6sO40s 81
annum '....................., 244.s51 81
Balance carried to surplus ......... si42117 20
Surplus at December 81 1905. 80. sSss2O2 is
ns OF plant Pfo al asSG5a sSS orS
capital for foreign subsidiary com
pAnies .....'.................... 100000 90
Aaa ..-y,u. 10. ,oos ...... ' .ssf is2 3 3
surplus carried fOrvHrasD,..,.-.s-...s TRACE a.