New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-05-14
TOPICS OF THE STREET.

FOREIGN TRADING.-Foreign houses deal, IN
about Il eco shares in the local market all mr.
chases. chiefly of the Hartman issues The Lon
don sentiment helped by the opportunity Ia
trade for the new account on the London Fx-
change and the fifteen day credit which II gives
and also by the bear account IN American issue,
disclosed at the CarTy-Over in the London settIa-
ment. Money was easy abroad and foreign houses
are specializing on further reduction in the BanE
of England's rate The general market in Ionson
was quiet and heavy. Rio TintO issues being o.
pecially weak features. The cOntango rate m
American stocks 3ss per cent. the lowest since
the early autumn
PLENTY OF BEARS AND MIGHTY LITTLE
COPPER.-MaiI advices from Morrison Kekevfch
& Co. OF London. under date of May g. say Of
copper: The statistics for the last fortnight shoz
a decrease of 573 in stocks and So tons IN ina
visible supply viz, 12e5S tons in sight. aSsIus.
f3 $50 tons on April ID and 1907 tons March a.
AS lately pointed out. the smallness Of stocks ia
even dangerous as they are altogether out Of mr.
portion to the business done The Rio Tinto Conn
pany has sold it's May copper at STA for tough
this being the price as IT realized for April
some time ago The American producers have sold
also at higher prices, and it appears that II was
only owing to the financial scare in stocks etc. We
lately had any drop in copper. Some Of the over
sold positions in standard covered but
there plenty of hears left and precious little
copper for them to buy"
BONANZA BELTS STRONG DIRECTORATE
The Bonanza Belt Copper Company which is offer
ing 10000 shares Of stock at s. a share has not
only the advantage of owning a producing nlins
with a newly struck six 10 twelve foot sulphids
vein running per cent copper but IL also has the
added advantage of possessing board OF directors
particularly efficient. not only IN ability, but In
experience IN directing the affairs Of mining cor
poratons The president r. Allyn Lewis. has had
some fifteen years successful experience in the
Southwestern copper field. The secretary. NJ z.
Hardy has for years been associated counsel for
one Of the foremost producers Of copper on this
continent The consulting engineer, G. NJ Gouyard.
Is a mining engineer of International reputation
The superintendent of the mines. Walter L. Enrich,
who has actual charge OF the work, is a graduate
Of the Sheffield Scientific School OF Yale. post
graduate OF Heidelberg University. OF Germany
and man who has practical mining experience
both in Colorado and the Southwestern mining
fields Edward c. Rice has been for many years
and Is now a director OF the Greene Consolidated
Copper Company. and is also treasurer or the New
York Produce Exchange and a director OF the mi
pOrters and Traders National Bank EdVara
IOew Leo G Dessar Edward c. Rice. Charles NJ
Shannon and Bird S. Coler well known brokers
who have also had experience in directing the ar
fairs of companies.
TENNESSEE COAL AND IRON-A representa-
tive OF the Tennessee Coal and Iron Company says
within the next two three years the corporation
Will have a capacity of approximately o'"" tons OF
pig iron a day or nearly 2eo00oe tons a year
When the SIX furnaces at Ensley are reconstructed
they Will be able to turn out an aggregate OF -'-O
tons a DAY approximately tSV,VoV tOhS d S00-'
F2v TIIv / 1901 the Tennessee Coal and Iron Cor-
many will have three modern furnaces in opera
ton. Nos l. ard 6 at Ensley. On compile
ton of this work reconstruction methods will Re
appled 10 the remaining stacks OF this group
LARGE IRON INQUIRT.-TheTe Is a great deal
OF INQUIRY FOR Besseuer and basic iron mostly
from steel foundries and open hearth plants which
have not covered their requirements for the last
half OF the year. Sales of 800 tons of basic and
500 tons Of Bessemer are reported the basis OF
-1-1h hale dat
There is some inquiry for foundry iron The
American Bridge Company has taken about 80"
tons of bridge work for the Illinois Central. and
the McClintic-NIarshall Company has taken 1.Sco
tons for another road. The American Sheet and
Tin Plate Company during the last week mas had
100 per cent of its capacity IN operation.
ATCHIsON CROP REPORT-The headquarters
OF the Atchison in this city have advfces from all
divisions of the road traversing winter wheat
country 70 the effect that the grain has had all
the moisture that 10 needs and that its develop
ment henceforth is merely a matter OF tenpera-
lures. For several days past the wire advices
from the territory have been TO the effect
that the weather was becoming warmer. that
II CONCLUDED that the prospects are better than
they have been for weeks past. These conditions
are stated 10 be general throughout Kansas. Colo
RADIO. Oklahoma and the other winter wheat sec
tons of Atchison territory
COBALT CENTRAL LISTED IN LONDOS.-The
stock of the Cobalt Central Mining Company has
been listed at the Stock Exchange IN London By
the banking syndicate which bought large interest
in the property after thorough examination OF it.
The stock opened 65 sold up TO IS and closed at
Y. There were heavy transactions IN the Issue.
sl0o0 shares being traded IN.
DIVIDENDS DECLARED.-The Kings County
Electric Light and Power Company has declared IFS
regular quarterly dividend Of per cent. payable
June /. The Parrot Silver and Copper Company has
declared the regular quarterly dividend OF sc
share. payable June Is to stockholders of record
June s.
PIG IRON CERTIFICATES.-Pig iron certificates
at the New York Produce Exchange were dull and
steady. There were sales Prices for standard
foundry follow: Cash, SO bid: May June and July
So 50 bid; August. sa2 bid September. sal bid:
October. $50 bid
AMERICAN WOOI4LEN--It is understood that
the syndicate which underworld the issue ot $1,000
oNO American Woolen preferred stock will be dis
solved May Is. when the underwriters will be in
possession of their shares The business OF the
company IS declared to be far in excess OF the
responding period OF 1905.
BETHLEHEM STEEL.-The Bethlehem Steel
Corporation has issued booklet which states that
the company will be manufacturing structural
steel from its new mills in July