New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-05-17
TOPICS OF THE STREET.

FOREIGN TRADING--FOreign houses dealt In
5000 shares in the local market. sales predornt-
mating. In London consos were steady and the
general market was dull Rio Tintos were heavy.
The weekly return of the Bank of England was
Disappointing. it did not show the strong posi-
ton expected The discount rate not changed
but in the open market an advance Of Is was re-
ported. Paris and Berlin discounts were unchanged
Berlin exchange on London was lower. Dealings
in stocks the London Exchange were restricted
owing to the approach of the whitsun holiday
GENERAL ELECTRIC BONDS.-GeneraI Elec-
trio directors have voted to offer stockholders an
proximately S13,CO0O00 of per cent ten-yesr de-
benture bonds. equal p per their present
holdings of stock. The bonds will be dated Juns
l. 1901 and will be convertible into stock at par
after June l, 19n. Thew will be redeemable at ta5
after the same date upon ninety days notice
Shareholders as OF record June 20 will be entitled
to subscribe for the bonds. and subscriptions win
close July 20. The subscription price will ha
par and interest and payments will be due fol-
lows: Fifty per cent July %, 1907 and 90 per
cent January 90. 1905. the STOCKHOLDERS having
the privilege OF making full payment on July 20
The proceeds of the bond sale VIII be used TO meet
the demand of the company's increasing business
TOLEDO RAILWAYS AND LICIHT.-A special
meeting of the stockholders of the Toledo Railways
and Light Company has been called for June 10 az
10 a. m, in Toledo, Ohio An agreement authorized
by threefourths Of the directors Is 10 be executed
purchasing from the Toledo Gas. Electric and
Heating Company its entire property and assets,
including franchises, rights and privileges Of all
kinds The Toledo Gas. Electric and Heating Com
pany is an Ohio corporation and is now engaged in
supplying both electricity and artificial gas for
power, light. heat and fuel purposes The Toledo
Railways and Light Company purposes 10 continue
this business. IN connection with the matter an
increase OF 100000 in the capital stock will co
voted increasing the total stock from $1,000
600 10 S15O00OCo
PIG IRON CERTIFICATES-Pfg Iron certificates
at the New York Produce Exchange were firm but
dull There were sales. Prices for standard
f~rrpr1 -F Ia
SZ2 30 bid; August so bid; September. S2laS25;
October. S2OG$25
NEVADA SMELLING NEW DIRECTORS.-At
the annual meeting of the Nevada Smelling and
Mines Corporation. Max f Bernheimer. Thomas
Byrnes, T H. Abbihl and C. c. NIinzesheirer were
elected directors to succeed Charles E Norris,
E. A Montgomery. John 5. Weller and J. c. But
Ter Other directors were reelected. Werner Null
Ter has succeeded Adam Underwood as assistant
secretary OF the company.
REPUBLIC IRON AND sTEEIA-The directors
of the RepubHc Iron and Steel Company VIII soon
meet for the purpose OF declaring the regular Il.
per cent on the preferred stock. and according 10
director the remaining per cent on account OF
back dividends also viii be declared. The dividend
declarations az the coming meeting mean a dis
bUrsement OF $75S37 TO preferred shareholders for
the quarter Since the Republic started satisfying
arrears of dividends the preferred II has dis
oursed I%s per cent out OF total OF 1885 per cent
ms months declaration VIII leave the company
free To begin dividends on the common stock II IL
deems it wise 10 take such action
DIVIDENDS DECLARED-The Buffalo & sus-
johanna Railroad Company has declared the regu-
lar quarterly dividend OF l, Per cent on the pre-
ferred stock. payable June ! The 1IiIIer-AIars
Company has declared the regular sen-annuaI
dividend of 3 per cent. payable on demand. The
Rubber Goods Manufacturing Company has de-
clared the regular quarterly dividend Of "a. per
cent on the preferred stock payable June Is The
Borden's CONDENSED Mix Company has declared
the regular quarterly dividend OF IA Per cent on
the preferred stock. payable June Is Tbs ArerI-
can Colonial Bank OF Porto Rico has declared 4
sen-annual dividend OF 3Ie Per cent. payable May
e. The American Railway COMPANY has declared
the regular quarterly dividend OF "a per cent pay
able June Is. The Atlantic Coast Line Railroad
Company has declared the regular seni-annuaI
dividend OF per cent the common stock The
American Graphophone Company has declared the
regular quarterly dividend OF u per cent on is
common stock.
HEAVY DEMAND FOR IRON.-The independent
blast furnaces have practically sold their entire
possible production OF iron for tho third quarter
OF the current year. and have little space left for
the fourth quarter. Inquiries coming in for
iron for delivery in the first quarter OF 1915 a.
though no actual sales have been reported as vet.
Manufacturers say that Spot iron is scarcer than
Il has been IN years. ard consumers Will have
depend on foreign iron
LONDON COPPER STATISTICS -FortnlghtIy
London copper statistics show reduction OF $50
tons in the stocks OF the metal and q decrease %
1855 in the quantity IN sight.
PENNSYLVANIA STOCKHOLDERS-The NUM-
Der of Pennsylvania Railroad stockholders 70 whom
the May dividend was paid was IS 496 This IS the
largest number OF stockholders in the conapany's
history.
MISSOURI KANSAS & TEXAS-Earnings OF
the Missouri. Kansas & Texas for the month OF
March. just reported. show increase IN gross ot
S50OeO and increase in OF SiSt.4l6. cornpa-E
son being made with the same time year ago.
ANOTHER NEW COPPER NLINE-The proper
ties of the Pennsylvania Cananea Copper Company
are being opened UP. These properties adjoln tho
Massey mines and the Cananea Central tbs
south The capital stock Of the company IS SooOo0.
Of which $4,000 is held IN the treasury. The
pauy is in forty feet OF concentrating and has
vein Groupings OF five miles.
NATIONAL. LEAD DIVIDEND INCREASED
Directors OF the National Lead Company have de-
clared quarterly dividend OF IL per cent on the
common stock. placing the issue per cent
basis The rate heretofore has been I per cent
quarterly. The directors also declared the regular
quarterly dividend OF Ia per cent the preferred
stock. The common dividend rate has been as
follows: 1891. per cent; 1855. per cent: nothing
was paid in 1896 and 1887: per cent paid n
1895 per cent in 1893 and l per cent IN 1900 Be
tween 1901 and 1895 dividend was paid on thu
common.