New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-02-01
TOPICS OF THE STREET.

Fanh or E5IBlaTu InaAe 10 chang" III 49, 'i''4'''
rate II discount. The weekly return was fairly
strong though showing small decrease in the
percentage OF reserve to liabilities, IS compared
with the preceding week. Money was in good de
nland but open market rates in the various Euro
pean capitals We're fractionally lower.
BOND MARKET REVIEW.-Fisk & Robinson,
IN their monthly bulletin say:
The year 1916 closed with dscouraging monetary
Cond9nc Dglng Gar me psf bate oc 9I Bank
reserves safer basis: time money
mining and real estate specuatons have . been
curbed and the specula.iye eshehI IN bond
market there are, however, sun two disturolns
factors Of no mean proportons-the enormous
financial needs Of the transportation lines and con
tinued belief that time money will not maIeTlaI i
former we must remember that the United states
a' pop 8G5 asGe OF Sa or a even o
hing but the last Eve years has seen the naoH on
student Of economics fully realize what this means
in the transportation problem The country IS not
Standing still and the financial concepdons q or
erly the railroads demands were in tens OF NIL
This change Of Viewpoint viii come about in due
season. but in the mean time the investing PUBL,
short time notes than it does on large issues Of
sc7stoned 10 the larger gurss the investor viii
be less tmid with regard 70 large issues Of more
disturbing factor not 10 be treated lightly There
corporations should comply WIN Inc ms
OF the authorities TO which they owe their eN+
thar those requirements shall he strictly in line
Sr.5 70 ,g+ ~ 8spection bv technical experts
and by accountants. TO prescribed reports giving
guarding against discrimination. Further than
This II is PTofitlsss II not imp4sS5oie 10 60 me
20 alarm and discourage, there are strong indica-
SUITS SUITS vii b. 6eneficaf 70 all interests From
market standpoint The effect Of the agitation IS
duce transfer OF investments from stocks 10 bonds.
NORTH BUTTE EXTENSION MINING COM
PANT SOLD-Wiiar T. Van Brunt, president
Of the ST Joseph & Grand Island Railroad With
Eastern capitalists. has purchased the property
known the North Butte Extension from Wes,-
ern syndicate The North Butte Extension Cop
per Mining Company is located in the heart OF tie
region that produces one-third OF the worlds cop
Per. Surrounding it the Boston and Montana
and the Anaconda, which are operated by the
AmaIFaTnated Copper Company; the North Butte
Mining Company and the Butte ana Superior all
Of which shipping large quantities OF ore daily
The property is fifty-hve acres in area and con-
prises four mining claims. namely, the Occidental,
the Free Trade the Overman and the Black Grow.
also, mill sites, known the Assay and the
Clipper. The company is incorporated under the
laws Of Arizona, and the papers have been filed
IN Montana. By this arrangement ths stockhold-
exempted from all personal liability. Its
capital will he $500 coo par value s. a share, and
the company viii be urencumbered by any bonded
indebtedness The Northern Pacific Railroad runs
branch directly into the mines and the Great
Northern IS now constructing a spur 10 the COM
pany's shaft.
no BASIS FOR BEAR ATTACKS on. 500
Advantage has been taken OF the present unsettled
condition Of the general market TO concentrate
many bearsh attacks upon the Minneapolis. St
Paul & Sault Ste. Marie stocks. The basis for
these attacks appears 10 he the recent falling off
IN the earnings Of that company. which is due en-
tirely TO temporary cause, namely, blockade Of
traffic owing 10 the unpreCedentedly severe
weather and heavy snowfalls which have been
feature Of the present winter recently along the
lines Of the 500 road. It IS understood that Sir
Thomas Shaughnessy. head OF the Canadian Pa
cifc and 800" systems. has teegraphed holders
OF the stock in New York that there is no need
Of apprehension the part of 500 stockholders
and reason in the condition of the property or
its finances for prices TO decline The company
is under no necessity for borrowing money for anv
purpose, and its cash balances in New York banks
are unusually large
MANHATTAN TRANSTT.-John c. Sheehan. OF
the Manhattan Transit Company. announces that
the Long Acre Electric Light and Power Company
has made contract with the Wilkinson Steam
Turbine Company TO supply il with its initial cleo
trical power plant to operate the lines which the
Supreme Court hv its writ Of mandamus has
compelled the electrical subway company 10 pro-
vide space for in tho subway. The company is max
ing every effort to begin active operations with
out DELAY.
GENERAL CHENTCAT4-The directors OF the
General Chemical Company have declared a divi-
dend of PER cent on the common stock, payable
March l. The annual meeting OF the stockholders
once.
-. Y. February 4 The company reports for the
wear ended December 81 last profits of S.4+3 SS:
reserve for fire insurance. $4,000; balance. SIS;
preferred and common dividends, s9n4l2; balance,
1924 35:. charged of plant account SSs63; surplus,
s242 43: preceding surplus &7S7ls0; total surplus.
s3S2a5 a3.
STRUCTURAL STEEL.-It Is expected that the
American Bridge Company will book in the neigh
borhood of 5000 tons Of new business this month
The United States Steel Corporation recently con
4racted for about 1000 tons and the Corn Products
Company 800 tons for its new plant in the West.
The Erie Railroad is in the market for 300 tons
IF structural steel There are inquiries IA the
market for about 100000 OF fabricated steel
NrE-vC PRESIDENT OF NASSAU BANK.-Win-
tam II Rogers formerly second vice president has
been elected president Of the Nassau Bank. 10 fill
the vacancy caused by the death Of Frank H. Rich
ardson James c. Bell remains vice-presdent and
Edward Earl cashier. Mr.. Rogers has been con-
nected with the Nassau Bank for the last fifty
years.
PIG IRON CERTIFICATES-Pi iron certificates
at the Produce Exchange were dull but steady.
There were no sales and no quotations for regular.
T1r.ros for standard foundry follow: Cash and jan
uarv. 500 bid: February go % bid; March. s22Q
800 3; April so 35dS22 80: May and June. SO %
asked: July, 81 5oas22 70; October go 5oq&2l IS.
WEEKS OUTPUT OF BATOPIIGAS MINES
The Batopilas Mining Company reports operations
for the week ended January u as follows: Twenty
eight tons native silver produced 20l00 ounces
Of fine silver. or 717.s5 ounces ton; low grade ore
produced 500 fine silver; total, $500 ounces.
ELECTED ASSISTANT TREASURER.-At a
meeting OF the board Of directors OF the United
States Mortgage and Trust Company held yester-
day Joseph Adams elected assistant treasurer
IN place Of William c. lvison. resigned. Mr. Adams
has been with the company for some years, recent
u occupying the position OF general bookkeeper.
GREENE-CANANEA.-I is understood that
meetings OF the Greene Consolidated Copper Com
pany and the Cananea Central Copper Company
have been called for February a, which will be fol-