New-York tribune., 1907-01-03
TOPICS OF THE STREET.

FOREIGN TRADING.-Foreign houses dealt In
25o00 shares In the local market mostly purchases
In London the general market strong Money
was trhe easier, but material decline In quo
tations was looked for. On tie Continent there
were few changes of Importance in the financial
markets. except lower discounts In Paris.
CITY BANK CIRCULAR.-The January circular
OF the National City Bank says in part:
We have inherited from the old year some Of It's
left over problems. chiet crnons which is the dis
6ere ar 10 no% SS dP9d d ri s5 eco % Is Of 1907
Stsfdns Sext n VIII M iba they y be be paid on in fun July
10 whoe in IN part viii hs
be in position pay holders of these bonds
what M be the eject Of the money aTRet in ang anS
e fb ts are al questions Of vital importance
sources and prospects shows that the government
WORKING balance OF the treasrrv Is s9 GOO 1n bi ds
viii probably be increased between now and June %
sn me to 6 m sum os 9Ss S TAR lax m fE9 20 sS @ The pay
leave working balance Of say ssG6oo.o6 Another
issue OF Panama oonis would add say s3l. 100000
hand $4,000 600 temporary deposits to be returned
enty HTeSis wo15 5Rs gte ,b IN 44e fsysnGe m & G9
S0 1907, working balance OF sl79 O00.OOO making it
public funds in depositary banks 1t may be said
as TO The prospects o. another Panama issue that
gTm3pafe t the , Treasury for Rrey0Gs expendtuIes
general fund TO meet canal construction expenses
STEEL RAILS AT sss.-The Bethlehem Steel
Corporation secured $50 ton for ths 200 tons
OF open hearth steel rails sold TO ths Hartman
lines for delivery in the latter half OF the
year This represents premium OF 81 ton over
the socalled official price OF SIS for steel
rails and 50 ton the Tennessee Coal and Iron
Company's price OF t29 ton for open hearth rails
This is the first time In four years that North
ern steel company has secured more than the Of
hcal price of sas ton for rails II pointed out
however. that open hearth rails are much better
than Bessemer rails. and this is one Of the reasons
why the Hartman lines agreed 10 pay a premium
on the Bethlehem order. Another reason advanced
Is that tho rail mills consested with business
and the bethlehem company was able 10 mako do
Averies at an earlier date than its competitors 1t
Is expected that tho bethlehem company win be
able to roll steel rails by July OF the year
THE COPPER MARKET.-Lake copper is bring
ing 2iis cents a pound in carload lots for delivery
in February. while regular customers for the frs,
quarter are receiving the metal from produce-s'
hands at "A cents. Users of electroytc are freslv
hl'ns their orders into the second quarter of the
new year and contracts for June delivery have
been closed. Amelsamated interests stn maintain
their belief In 25-cent level for the metal and
look for no falling of either IN demand or the
prevailing prices for some time TO come
MITCHELL MINING-George Mitchell presi-
dent OF the Mitchell Mining Company. announces
that the companys first shipment of copper bull
ion was made December Il from Acapulco an
the Pacific Mail Steamship Company's ship Peru
via Panama 10 New York This shlpment amount.
TO over 2l.00o pounds OF copper. with an approxs-
mate valuation OF $4,000, and IS insured Mt that
amount. Mr.. Mitchell says that at La Dichs ore
has been struck the 5oO-foot level. which depth
gives the company approximately 2O.oO0OO TO
%. 10000 tons OF ore
MONEY COMING To NEW YORK.-Iarge re-
cepts OF currency from the interior were reported
yesterday prominent Wall Street banker said
thai the inflow had been larger than on any day
in recent weeks. the increase being due in part 10
the intervention of holiday Doubtless a large
amount of money representing interest and divi-
dends will find its to New York in the course
Of the month from out of town points.
PACIFIC COAST DIVIDENDS UNCHANGED
The directors OF the Pacific Coast COMPANY have
declared the usual quarterly dividends of IL per
cent on the first preferred stock u, per cent ON
the second preferred and 1Is per on the COM
mon. The company is enjoying an active business
ana Is looking forward TO increased earnings in the
current year.
ATCHIsoN-At their regular monthly meeting
yesterday the directors OF the Atchison took no
action in regard to the impending issue OF s25 OOo
900 new securities. The matter viii be brought IN
at the regular February meeting of the board
which viii take place after the stockholders u,eet
ing, which has been called TO authorize the nav
issue.
PIG IRON CERTIFICATES-Pig iron certificate.
at the New York Produce Exchange were Quiet
but steady There were Gales and no ouotations
for regular Prices for new standard foundry fol-
low: Cash, s23 hid; sanuary. February and March
500 a $25.
TO ISSUE BONDS.-The stockholders of the
Boston & Lowell Railroad Company have voted 10
issue $4,000 per cent twenty year refSndng
bonds. the proceeds TO be used TO refund a like
amount of bonds maturing July l. Tha stockholders
also have voted TO issue $500 shares of new stock 10
pay for additions and improvements.
APPLICATIONS TO LIST,-,The folio wing com
paries have applied to the New York Stock Ex-
change to list add ,ionaI securities: The Chicago
indianapolis Louisville Railway Company. s5SOco
additional refundlng mortgage 8 per cent bonds OF
1871, and the PENNSYLVANIA Railroad Company
A,694,4eo additional capital stock
ADMITTED TO QUOTATION.-J. p Morgan &
Co.'S trust receipts for Hooking Valley Railway
common and preferred stocks and the Kanawha &
Michigan common stock have been admitted TO
quotation in the unlisted department of the Stock
Exhange.
CHICAGO SUBWAY PLAN.-rhe financial pIan
OF the Chicago subway Company. which Involves
the formation of holding company. include the
Chicago Edison Company. probably will be made
public this month.