New-York tribune., 1907-07-30
TOPICS OF THE STREET

FOREIGN TRADING.-Foreign houses bor,s.
25OG0 shares in the local market yesterday Sts
transactions scattered ever the active 10 -
but most of the foreign buying was in M5ssa+',
Pacific and Missouri, Kansas & Texas In IoD5-l Il
the fall in consOls TO 81 Ills, the lowest raoas
since 1915 when 50 was touched, affected an = ~
markets and trading was sluggish. NIoDa,, - - sae
good demand IN preparation for the montb-as
balances Discounts were irmer influenced b1 ~ ~
fact that the Bank of England secured o-r -
small amount of the gold offered in the OMEN rS
ket Bar silver was frmer in tone due to f1r-5s~
purchases for the account of India.
NEW YORK CENTRAL DIVIDENDS-Itt Il ,,.,
on good authority that the net earnings OF tba 1
York Central Railroad Company Cor the sscws
quarter of 1897 will show a surplus over the o1,a@ GU
ter's dividend requirements 1t is understood ~.
the gross earnings for July viii show an inrraas
of about $4,000 over the same month last 49,
and it is said in well informed quarters HAT %
traffic continues 10 pick up at its recent rate ~
gain in gross for the year will be in the negbbo-
hood Of $5.50O.OO0-
LONDON GOLD BIOVENENT.-Of the 81 0oa
900 bar gold offered in the open market at Ton5.
Yesterday the Bank Of England was able ~ - -
only $3.50 900. and in order 10 secure that aroH1.
had to advance the price Of the metal The y.
mainder taken for India and the Contipe1-
the Rothschlds taking &510.000 for Vienna a15
India 415O,000. The Bank of England also bougS.
G44.000 bar gold over the counter
THE IRON SITUATION.-Roger Brown & r,
say: AN unexpected element has been fnieotaS
into the situation by the strike OF handlers -
the docks Of the upper Superior harbors and 1ba
miners OF the Mesaba range. II is impossbIA -
predict how serious this may be- there is ~
telling how long the strike win continue NJ
furnaces have enough ore on hand to keep rrlnnir
for a few weeks. any way, 50 that there has r.
so far no reduction in output But every dav H..
means so much less ore brought down for 49,
winters supply. IL has been estimated that esr5
weeks delay viii reduce the amount coss -
100000 tons. SO far this has had appreciate
effect on the market although there is distincrI7
more inquiry this week than last. The fact rLa.
the Steel Corporation IS about % purchase Zoo,
tons OF Besserner and 5000 10 1000 OF basi, b,,
attracted a good deal Of attention. and foutJ-v
buyers are also IN the market FOR a larger v0lur.
than in some time. Sales continue light and a.
confined principally to small lots for nearby de-
livery.
COPPER sITUATION-John +. stanton saw.
The copper situation IS dun and there is lr-is
buying in evidence. However it would seem rss-
stocks in the hands Of consumers are pretty low
and developments in the buying liTe In the naa,
future would not be surprising do not anticlra,a
n further cut from the present prices. There has
been q decrease In copper production since tba
first Of the year. and II would not surprise ms IN
the least IL the output Of the coIrtrys mines y
1907 fell below the production in 1905" n,
Metal Exchange yesterday quoted lake copper -
y in both bid and asked prices aL 2H'zc 70 2Lo.
EIectroIytic of -c in both bid ana asked at 2le n
20lec. and castings on &c In the BID and lac in tts
asked at 1870 TO 2oc. The market was weak
UNITED STATES STEEL DIVIDENDS AND
EARNINCfS.-The directors Of the Cci-ei States
Steel Corporation viii meet to-jay % declare t5s
dividend The statement Of earnings for the see-
ond quarter OF 1901 VIII also be given OUT Several
Of the directors who were interviewed vsS-e-5av
stated that they did not believe there 1Id be any
change In the common dividend frau tEa previous
declaration OF Ole-haf Of I Per cent for the quar-
ter. The CO. -lrnon stock has SHOWN more strength
lately but the advance is believed by wen Informed
interests 70 be due moro To the gra~--,al settle
meut Of the iron ore strike than anything else.
The net earnings for the quarter expected q
between $43 10000 and 100000, which would be TIA
largest IN the history of rEa corporation TIa un-
hIled tonnage, II is said. viii ru1 close 20 so o
tons.
PIG IRON CERTIFTCATFS- ron c4rtia-
Gates at the New York Produce Exchange vera
dull and unchanged There were M sales Prices
for standard foundry follow. October November
and December. SO 80 asked
KANSAS CITY RAILWAY AND LIGHE
COMPANY NOTE ISSUE-EIu11. Loeb * Co. and
Blair & Co. announced yesterday that J5sy rad
Jointly purchased S4,0ool'0 cent notes - Tia
Kansas City Railway and Light Company Ths
proceeds, II was stated. would be used by the CON-
pany 70 redeem the S3.01G.l0a per cent notes ma
turing December l5 next, and f9r other purposes ot
the company
ILLINOIS CENTRAL PROXIES To EIARA1AN
AND HACKSTA AFF.-The annual meeting os tia
Illinois Central Railroad Company VIII be held a.
Chicago on October 10. No date has been 4xe1 yes
FOR the closing OF the transfer books. but the usual
time IS in the latter part OF September. Stock
holders OF the company received yesterday morn
Ing request for proxies running 70 The president
Of the company, J. T. Harahal. and -le prast-
dent. Alexander q. Hackstaf1- Il seems from ths
circular accompanying the proxy --a- the board .
directors at the meeting held ON Ju.y e. wI=c N-.
Hacksta1 elected q director. also passed 3
resolution Inviting tina stockholders On send their
proxies 70 Mess-s Harahau and EIaeks-4E
CHICAGO & NORTHWEST TERN NOT IN COAST
LINE.-A representative o. the CL-ca-7 ts North
western Railway Company said Yesterday tl4t
there no truth IN the report from 4- ma t-at
tho North Coast road. now being J---r between
Spokane and Portland. q Pacific Coast extea-
sion OF the Chicago * NortLvvest5-c.