New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-07-10
TOPICS OF THE STREET


FOREIGN IRADING.-Foreign houses ,rs-.
active factors in the local market selling mods- sos
ly on balance In London the approacbins ,s
nightly settlement was responsible for an i1actJ
general market. price movements being co-ss
within small fractional limits. Money was IN 49,
demand Efforts being made in London 70 49,
american finance paper but. according to cab.
The money position here Is regarded abroad v5tL
considerable suspicion, and disturbance Is fesrs,
In the fall.
HEAVY PAYMENTS DUE.-Payment, N e..
amount of 20 per cent the Union Pacific S nm IN
convertible bond issue will be made TODAY ana :,
per cent the AtchisOn SIC. 900 bond issue w.
will mean that the Union Pacific underwritin1 sr.
dictate and shareholders will be called tpon frs
s15O0OO0O and the Atchison shareholders s. sOo 0ro
making an aggregate due to-day including N.
turning in Of government deposits the Tressn-,
of S34OOOO0 1t is believed that this can be accor,
plished without disturbance in the money marie.
There was a rumor yesterday that the Secretary
OF the Treasury would defer until later date ~.
withdrawal of deposits from depositarv inst,t,,
lions. but as far local bankers knew there wa,
no good foundation for the report PreparatIon,
were made yesterday by the banks 10 turn In tha,.
proportion Of the SjOO0Ooo9 be withdrawn agrra
eating about $2,OO0Oo0. The redemption OF gov
eminent As is proceeding slowly. despite the fac,
that interest on the issue has ceased. The totai
amount so far redeemed does not run beyond aS
OoOoeV. out Of a total of about sSs.OoO0Oo.
NEW YORK CENTRAL LINES BIG EARN.
INGS.-Gross earnings of the New York Central
lines in the month of June show heavy gains over
the corresponding period a year ago. and the
chances are that some Of the improvement viii
be presented In net. figures for which are no.
available New York Central proper increased Its
gross AOSi6l5; Michigan Central. S2l2 6s2; Lag,
Shore, $233.S5 Lake Erie & Western. $50 424: Chi;
cago Indiana & Southern. ss5 ~; Cleveland Gin
cinnati. Chicago & St. Louis. s2S4.O 5S. Peoria a
Eastern. SS.e7i; New York. Chicago Sc St Louis.
s29 996; Pittsburg & Lake Erie. s26.7z7 and Rutland
81. 4S9.
DIVIDENDS DECLARED Dividends have bee,
declared follows: American Caramel Company
regular quarterly IL PER cent. and an extra = per
cent on the common stock payable August !
and the regular quarterly per cent on the pre-
ferred payable October I. Computing Scala
Company of America, regular quarterly II per
cent. payable on August / International Steam
Pump, regular quarterly IL per cent on the pre-
ferred payable on August /. United States Realty
and Improvement Company regular quarterly ~
per cent. payable on August l. Oklahoma Gas and
Electric Company. regular quarterly II per cent
Chattanooga & ST. Louis Railway COMPANY reel-
lar SeInl-annual per cent, payable on August =
FAVORABLE ROCK ISLAND CROP REPORTS
The telegraphiC and mail adViCes regarding cruD
conditions received IT the Rock Island Offices in
favorable character. and indicate further marked
improvement last w.ek western officers ~ -
Rock Island system say that most OF the authori-
ueS now estimate nc wheat crop in Kansas at
from 100000 20 65CCnO0O bushels against a mini
mum eSIlnlale carry IN the season or ++eett9
bushels The thrashing OF wheat in thar state IS
under way. and President WincheU says his re-
ports show that the actual yield an acre IS sur
prisingIy large
CUMBERLAND RATLWAY.-Ira \. Mccormack
assistant to the general manager o. the New York
Central * Hudson River Railroad Company. sent
In his resignation yesterday To senior Vice-Pres-
dent W c. Brown. Mn Mccormack has been elected
president and general manager Of the Randolph
& Cumberland Railway Company. He has also
been elected president Of an extensive develop
ment company which is affiliated with rail-
way and which has been organized TO develop the
resources OF the territory served by the road The
Randolph Il Cumberland Railway now extends
from Cameron 10 Hi,lsons. y. g.. and will be ex-
tended 10 Southport, distance of about SIC miles
FAILURES CLASSIFIED 'Dun's Review says:
Insolvency returns for the second quarter %
1897 and the month Of June classified this week
according TO occupation and size. and IL il shown
that the few abnormally large failures Issr month
We're concentrated In three or four occupations t1s
rest of the branches ~ business mailing sat
tsfactory comparisons with earlier years Ii
shown last week that the heavy mortality occurred
chiefly IN section OF the country. and this week
II appears that the larger liabilities also
stricted a Few OCCUPATIONS. chiefly ularuraCtu~-
ing. Comparing tho returns for the second quarter
with the similar period last year. il is found thar
the most of the large increase in liabilities occurred
in the steel industry. owing 10 failure of great
magnitude. while in lumber and building and in
miscellaneous there also occurred several suspeT-
sious OF great size There was also one large fall
urn in liquors and tobacco and one IN glass and
carthcnwaTe, but tho ether occupations in which
There was an increase ill not show any striking
change. nor Is there any evidence of general weak
ness in the Industrial situation
PENNSYLVANIA RECORD TRAFFIC. - Tia
greatest aggregate movement Of freight cars u
The history " the PENNSYLVANIA Railroad is dis
closed ny tho records for the month Of May now
complettc. The total freight Ger mileage FOR the
month 22.57oSo3, figure probably uniqU- II
American railroadins. The number OF freight
Carrytng cars or the PENNSYLVANIA lines in MAY
averaged 49, as a day while the average daily
movement car was 27O7 miles. These figures do
include cabin cars. the monthly average y
which amounted to approximately 4oAdCoe The
Nav records also show that the average number
day the Pennsylvania lines east %
PittsturS and Erie was S0tN greater than I'm April
UNION PACIFIC BOND SUBSCRIPTIONS
Subscriptions the s5ONO00O convertible dehenturs
Union Pacific bonds he fled ty tonight
There have been various predictions that the
stockholders would only call for a small amount
OF these bonds and that the foreign holders would
holders will subscribe for about IS per OF ths
issue
UNITED STATES steel. EARNINGS-Earn-
second quarter of the current year estimated
by some interests identified with thu trade in ths
neiyhborhood Of S44.OC0oOO.
DELAWARE & HUDSON PONDS SOLD.-Ths
bankers who purchased the SloOo000N Delaware &
Hudson Company first lien equipment Al per cent
fifteen year bonds announce that they have DIS
posed of the entire Issue.
SUGAR PRICES I.OwER.-The American Sugar
Refining Company and the HCwellS and Arbuckle
rednerles have reduced the price Of refined sugar
10 points, TO 4soc, less per cent for cash
THE FEDERAL TREASURY
Washington. July s.-The condition OF the Treas
lows:
RESERVE FUND