New-York tribune., 1907-06-07
TOPICS OF THE STREET.


FOREIGN TRADING.-Foreisn houses deal, d,
10000 shares in the local market. mostly sales Tba
selling particularly heavy in Union Pacidc
Amsterdam again was buyer OF American Ca,
and Foundry common. In London consols wers
lower and the general market was heavy Thu
Bank Of England made no change in its minimum,
rate of discount. and though the proportion OF re-
serve to liability compared well with last year 4,
made poor showing with other years since ls0e
Evidently there will have to be a material increase
in the banks resources before a reduction in ths
discount rate will be warranted Open market
discount rates IN London were firm There wera
rumors OF financial trouble in Paris. which wers
accompanied by weakness on the BOurse.
DIVIDENDS DECLARED-Dvidends have bes,
declared follows American Pipe Manufacturing
Company regular quarterly per cent. payable JulJ-
I. J. G. White Company regular quarterly IL Der
cent on the preferred payable July l. American
Snuff regular quarterly IL per on the pre-
ferred and 2la per cent the common. payable
July l. American Tobacco regular quarterly IL
per cent on the preferred. payable July / ChicaFo
Great Western regular seIni-annuaI interest OF "a
the debenture stock. payable July Is New
York. Ontario & Western per cent payable July
%. James II. Dunham. regular quarterly IA per
cent on the first preferred and Ia per on tina
second preferred payable July / Greene Railroad
regular semi-annual per cent, payble June IA
Chicago, Indianapolis S Louisville Railway regular
semi-annuaI dividend OF Ia per cent on the common
and 2 per cent the preferred. payable June a
Fifth Avenue Trust Company regular quarterly
per cent payable July l. Mohawk Mining Com
pany semi-annUal s. share, an increase Of 81
Consolidated National Bank regular seml-annual
per cent payable July L Boston Suburban Elsc-
trio regular quarterly 70 cents on the preferred.
payable July I.
SOUTHERN PACIFIC EARNINGS Earnings OF
the Southern Pacific for the month OF April show
increase in gross Of H.61.512 and an increase in
net OF S273. The Increase in expenses resulted
mostly from the continued congestion of trahc
caused by the unprecedented storms and washouts
IN the month OF March. which added largely 10 the
payments for overtime employees. per diem
charges for use OF cars. increase in rate OF per
diem for rental of foreign cars. and Increase in
station and yard forces. due 20 the congestion;
also expenses incident to moving increased
traffic with higher price OF fuel and Increase in
wage schedules.
AMALGAMATED COPPER.-It IS stated that
the production Of the subsidiaries Of the Amalga-
mated Copper Company in the current year viii
show little IL any increase over the output in the
calendar year 1906 when an output of 275,O0Wo
pounds Of refined copper reported. Ths
AmaIgamated interests are making aggressive
campaign TO increase the output OF their prop
critics. Reports 70 the contrary notwithstanding.
the consumption OF copper continues to increase.
CANADIAN PACIFIC.-It is reported in well In
formed quarters that the directors of the Cana
dian Pacific Railroad Company at the next dfvt-
dend meeting will make extra distribution to
the stockholders on land account Last fall
dividend for the year OF per cent was declared
from the income from land sales. and this income
has increased rapidly in the last few months
that it thought the stockholders should share %
a greater extent in the profits The earnings from
sales OF land are not included IN the weekly r.
ports of the earnings Of the Canadian Pacific Rail
way.
I GENERAL observation-disclosures 10 a repre-
sentative OF the General Electric Company, pract-
cally the entire issue OF S30OOOoO per cent ten
year debenture bonds. equal 10 20 per cent OF the
present holdings OF stock, will be subscribed for
by the shareholders. The first payment OF 50 per
cent falls due on July 90 1907. and the second pay
ment Of 80 per cent January 20. 1908 stockhOld-
/ ers having the privilege OF making the fun pay
ment on July %
HOOKING VALLEY DIVIDEND INCREASED
Tho directors OF the Hooking Valley Railway
Company have declared a senli-annual dividend Of
. per cent on the common stock. raising the rats
from per cent 20 I per cent a year They also
have declared the regular seuli-annual dividend Of
per cent on the preferred stock
APPLICATION TO LIST-AppHcation has been
made to the Stock Exchange to list $4,000 add
tlonaI first preferred stock OF the United States
Rubber Company and S1o,OCGo9 Atlanta Knoxville
& Cincinnati division per cent bonds OF the Louis
VILE & Nashville Railroad Company
PACIFIC COAST EAFSINGS--Earnings OF the
Pacific Coast Company for the month ot April
show an increase IN gross OF Sl524so and an in
crease IN net OF SO e2 For the ten months OF ths
fiscal year. gross earnings have increased s6SS5T
and net earnings $i4Sl2
REFINED PETROLEUM HIGHER-Refned Pc
roleum yesterday advanced . points 70 S. .
in barrels and 81 IS IN bulk Philadelphia prices
being on a basis points lower.
ANTHRACITE PRODUCTION IN MAY--Ths
production OF anthracite coal IN May was 5s9s n
tons, rs compared with S25L2SO tons in the
spending month last year. and 6.o515S in ls06