New-York tribune., 1907-02-07
TOPICS OF THE STREET.

FOR ETGN TRADING-Foreign houses dealt In
1900 shares IN the local market. buying 10000
shares. In London the copper stocks again were
strong. while the general market was irregular
Money was relatively easy. with every indication
Of remaining so. though It was not thought prooa-
bic that there would be reduction in the Bank OF
Englands rate OF discount as long as the Ameri-
can demand for gold continued
sPEYER PURCHASES ROCK ISLAND EQUIP
MENT NOTES.-The Chicago Rock Island & Pa
cihc Railway Company has sold TO Speyer Co.
Sc 5oo 0oo AZ per cent equipment notes The notes
are dated February l. 1907 and are repayaole in
twenty sem-annual instaments. beginning August
1907 the last series maturing February l. 1917.
making the average life OF the notes about five and
ono fourth years. They secured by equipment
costing S74llS0S The bankers state that until all
the notes have been paid the title TO the equip
rncut remains IN the vendors. with ample power IN
the Bankers Trust Company trustee. for the pro-
lection OF the noteholders These notes were Of
fercI by the bankers in limited amounts Of the
uusold muturites n 5ia per cent basis. and
nearly all have been sold. The equipment pur-
chased by the railway company includes steel cars
OF all kinds namely; Freight, passenger, combina-
ton smoking and baggage. postal. dining, consolI-
dated. freight locomotives, switching locomotives
and steel frame dumping gondolas.
STRONG COPPER TRADE CONDITIONS
While there available supplies OF copper the
market for the metal IS necessarily IN the midst
Of a Iull. but there IS every Sign OF maintenance
strength. Sales Of lake have been recently made
at 25ls cents for March delivery, approximately
100 90 pounds being the amount. sale OF 80 COO
pounds Of the same grade for future shipment At
2524 cents has also just come 20 light Inquiry
continues steady and the market for lake is strong
at 2ji. to 25A4 cents Arrangements have been COM
pleted i'm London for further shipments OF bar
copper from that place to the United States eau
ton is certainly called for" Vivian Younger
& Bon London metal dealers, at the present level
Of copper prices, but so FAR there is no new pro
ducton IN sight and no indication that supplies
viii equal demand. and If the trade activity
In the States is reaching its zenith the consump
tion OF the world Is bound 10 remain on an i'm
mense scale
DIVIDENDS DECTARED.-The directors OF the
Diamond Match Company have declared the reg
ular quarterly dividend OF 2ia per cent. payable
March 10. The directors OF the Butterick Com
pany have declared the regular quarterly divi-
dend OF l per cent payable March l. Directors
OF the New York & Harlem have declared a
scmi-annual dividend of per cent, payable April
l. this payment being from earnings other than
the rentals received from the New York Central.
Directors OF the Niles Rement Pond Company have
declared the regular quarterly dividend OF ~ per
cent on the preferred stock payable February Is.
and the regular semi-annual dividend Of per
cent the common stock, payable In two install
u.ents namely. on March 20 and June %.
MARKET GOSSIP-It is said that prominent
operator who took loss Of u points 5000
shares OF Southern Railway is tho leader of the
shares
Edwin IIawley. who has been active on the bear
side until now IS working In the bull camp Flow
er brokers were active factors in the advance in
Dlstlers. which. according to Wall Street Is
booked for a per cent dividend basis IN March.
H. Content again prominent buyer OF Read
ing Missouri Pacific was vigorously attacked by
the traders particularly c. c. Miller ana c. B.
Mcdonald. There appeared to be weak bull ac-
count In the stock.
MONTGOMERY ORE STRIKE.-Advices have
been received from Butte Mont. regarding the
new strike in the Montgomery claim OF the Mon
tana Consolidated Mining Company south OF the
Bullwhncker claim. The vein is said to be five or
six feet wide at depth OF 200 feet. and has an
east and west course II Is said that the ore as
says between IS and 20 per cent copper. and car
rles a good byproduct in silver. The Montgomery
claim Is owned by the General Development Com
panv in which the Lewisohns dominant. This
news from Anaconda has excited great interest
among investors in the Butte Exemption Copper
Company. its property lies directly east Of the
properties OF the Lewsohns. and the course Of the
new vein struck IN the Montgomery indicates that
II should penetrate through the very centre and at
the widest part Of the Butte Exemptions holdings
RAILROAD EARNINGS.-Raroads reporting
earnings for the last week In january, statemants
OF which were received yesterday. show for i've
companies total gain in gross or S2S3 63. and six
companies total loss OF sl52 422 The heaviest loss
made by Canadian Pacific amounting 60 $4,000
Comparison is made with a period last year, when
Canadian Paciic's returns unusually heavy
ana compared with 1905. there was an Increase OF
E1.Qoa &sASine foR The nAnkA & psaamssa