New-York tribune., 1907-01-05
TOPICS OF THE STREET.

houses IN
S,ooO shares In the local market. buyinR so 600
In London the general market was ouiet win
some heaviness in the mining department Con-
soils were unchanged. There were no changes .,
discount rates in London at the Continental
capitals but cable dispatches intimated that ee star
quotations might be expected the British centr,
and a reduction in the Bank OF England's rate in
the course OF the next few weeks.
MANHATTAN'S VALUE.-The recent saIs oP
sisOo.OOo Manhattan Elevated treasury stock COM
pletes the authorized issue, and no further stock
will be issued. The Manhattan Railway Companv
earnings are now up to the largest in It's history
the temporary loss occasoned by the opening OF
the subway having been fully recovered through
the natural growth OF travel For the three months
ended September 80. 1906 the InterborouGh- Metro
poltan Company carried 1sl.o27.iS2 passengers
against 1890 500 carried during the same period
last year. OF this the Manhattan Railway gained
.l60 the subway 65S6.S23 and the surface lines
2os.S3o The elevated lines carried s2SS472 passen-
gers against 2T5H.692 carried by the subway
The earnings of the Interborough- metropolitan
Company for the last year. directly applicable
to dividends upon Manhattan stock, we're $500 s5z
against dividends of SSs64O0. or 1904 per cent on
the stock outstanding The Manhattan Railway
stock. through the marlborough con-
sodation is now a prior charge to S67 S05.OO0 In
terborough- Metropolitan collateral trust 4Is per
cent bonds and $45+is 600 Interborough Metropolitan
per cent cumulative preferred stock the dIvi-
dends upon Manhattan being prior charge to
both interest upon these bonds and dividends upon
Is
Iii. at which price it nets nearly per cent free
from ali taxes. The range OF prices for the last
three years has been from 40 TO 175. the lowest
in 1905 having been 1914 although in that year il
only showed earnings applicable to the stock of
IS per cent, against the present earnings OF ISO4
per cent
BANKS GAIN CASH.-The reported movement
of currency this week indicates gain in the cash
held by the banks OF S.407.100 The banks received
from the interior 100000 and shipped to the in
terror S6e07,so. OF which 100000 transferred
through the Sub-Treasury to San Francisco, and
S976.e00 national bank notes were to Washing
;sn for redemption Receipts OF gold were
$si5.6oo The gain Sub-Treasury operations
proper was sI9#o. Receipts OF currency were
chiefly from nearby points.
COPPER TRADE CONDITIONS.-Casti copper
IS being utilized to extent considerably greater
than ever before account OF the difficulty In OBJ
tanning other grades OF the metal Sales of casting
for quick delivery have recently been made at 24ls
cents a pound All sorts of scrap copper also
being made TO serve a purpose. and extraordinary
prices being obtained. The United States Sell
ing Company's price is "a cents. as compared
with 234. the price announced December IS The
company is understood 70 be filing orders calling
for delivery as far ahead June. While no busi-
ness OF large volume has been booked since tie
first OF the year, there inquiries in the New
York market which are finding difficulty In secur-