New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-07-20
TOPICS OF THE STREET.

| TOPICS OF THE STREET,
FOREIGN TRADING--FOreisn houses dealt IN
upward of 1O.GIO shares. chiefly Union Pacihc
Amalgamated Copper. the Hill stocks Miss uri
Kansas & Texas In London the copper snares
,were strong while securities in general we're firm
| Money abroad in fair demand. and cabls dis
patches reported improving conditions in the loan
market Less anxiety is felt in Paris. and London
no longer fears the loss OF gold though the de-
/ mand for Egyptian account probably will be heavy
later in the season. Discount rates IN
changed.
Amalgamated Copper Company running far In
excess of the amount required to pay per cent A
year the stock but it is not likely H. II. Rogers
Will sanction an increase IN the dividend as long
the shares net the investor nearly per cent on
the market valuation, as is the case to-day. The
Amalgamated Copper Company IN the nrst half OF
the year received, average. 2S1s cent,
for its copper. Its profits for that period agL
sregated something like s14Ga0Oo. and Il paid out
in dividends per cent or approximately SIS $50 0El
Its surplus dividends. therefore. Mora
than SS.OO00o0. Earnings in the first six months OF
the year, in fact, 100000 in excess OF the
amount required to pay per cent the Cutstand-
! ing capitalization for the entire year In other
words. if the Amalgamated Copper Company cid
not earn cent in the last six months OF the year
it could pay per its stock OF thu
first half's income and report surplus of nearly
100000.
/ UNION PACTFIC-The company on the bull sid.
of Union Pacific is increasing one large wire
house took positive position the stock yester-
day. urging that II be bought for a considerable
further advance The leadership of Union Pacific
has become impressive. in fact. that houses
/ hitherto beariSh, and beartSh at heart still ara
saying that those who wish 10 trade might 10 well
to go along" The movement is not be re-
sisted. The head Of such a house remarked: "Ot
what is II TO fight the market We criticise II
and complain at the same time that there Is no
business. So long cannot advise ANYBODY 10
sell short may we'll let people 20 with
the market. They may make some money and
make commissions for US \ wear ago the range
of Union Pacific. then per cent stock. from
1925 1ii2s- Yesterday II sold al 145ls. paying
twice much In dividends last year
DIVIDENDS Observation-Disclosures have been
declared as follows: British Columbia Copper
Company. regular quarterly 25c and l5c extra.
/ payable September 4. New York & Queens EIec-
. trio Light and Power Company. regular SEMI
annual 2ls per cent the preferred stock pay
able August 10 Pittsbure Trust COMPANY ragn-
/ lar quarterly per cent payable August I. Sc
curftes CORPORATION regular serni-annIIaI e. w.
cent the preferred stock. Union Storage CON-
pany of Pittsburg regular semi-annual per cent,
payable July 81 Trenton Potteries Company. regu-
/ July % Bowery Bank, regular quarterly per
+ cent, payable August / National Safe Deposit
/ Company, regular sem-annual 2ls per cent pay
able August l.
7 AMERICAN LOCOMOTIVE.-Gross earnings OF
the American Locomotive Company IN IT'S fiscal
year ended June 60 We're larger than for any pre-
Cedhg year. Net earnings We're about the same
for the year before The earnings the common
stock Will be fully UP 70 those for 1906 while the
amount available for dividends probably will ba
larger as 1t has not been necessary to charge of
such large sums for extraordinary improvements.
In the year ended June 50. 1896. the earnings tbs
common stock before deductions for extraordinary
expenditures were equal 10 III per and after
such expenditures the amount available for COM
mon dividends was equal TO 81 per cent
RISE IN CONSOLIDATED STEAMSHIP
/ BONDS.-Copslderable activity and strength have
recently developed IN the per cent collateral
/ bonds of the Consolidated Steamship Company,
which are traded in on the curb. They advanced
over a point yesterday selling up 81, 29I3 and
/ representing rise OF or Der cent IN the week
/ No explanation or the upward movement which
has occurred forthcoming except that ap-
parently the demand for them has increased. in
view OF the large return which they yield on the in
vestme1t.
ANOTHER HEINzE STOCK ON THE CURB
One OF the new stocks introduced the curb yes
terday was that OF the Ohio Copper Company. the
property Of which recently passed into the control
OF F. \. HeinZe and associates. The Ohio mines
are situated IN Utah. in proximity TO the Utah
Copper and the Boston Consolidated. new COM
pany is 10 take over the present concern but the
Ohio shares traded IN to-day are those Of the old
company.
/ GRAIN EXPORTS FOR THE wEEK-..Rrsd-
streets reports the exports OF grain for The week.
with comparisons. figures in bushels as follows:
Wheat -four included. 40. against a2s4.714 last
week. L5S5so7 in this week last year and 522- SsO
IN this week in 1901 from July I. 75743Ss compared
with 5255S5S In 1so0O7. and 1+oc5.S6s In 190l-o2;
corn, 2o6s.S61 compared with l41675 last week and
S51s2 in 1896; from July I. 4S i46 against 10 $50
IN 1850.
/ BANKS GAIN CAsH--The known movement %
money this week indicates a gain in cash held by
the banks OF S46S5of0 Receipts from the interior
/ were S-0S9.lGo and shipments were s. sl3 loo the
loss on the interior operations being sg74eta Re-
CeiptS or new gold were s. 100 and the gain on
Sub-Treasury operations S6SsS0O Receipts
/ OF currency were chiefly from nearby and Eastern
points. while the largest shipments were 70 East
ern cities including 100000 TO Philadelphia.
3 LINCOLN TRUST CONPANY.-Irvins = Cav
lord formerly fourth vice president OF the Lincoln
Trust Company. IS 70 be elected vice-president. Il
is said. 10 fill the vacancy caused by the election
/ OF Frank Tflford 20 the presidency OF The com
' peny. Mr. Gaylord before hts connection with ths
lincoln Trust Company was cashier % the Four
teenth Street Bank
/ THE IRON SITUATTON-Rogers Brown & Co.
say that moro interest is being manifested IN spot
Iron by consumers In the West. Consumers have
been out Of the market completely for the last two
or three weeks. but there Is evidence OF sons
buying IN the future. BesseIner iron Is OF,
about 20 cents ton in PfttsburC. There have
heen no changes In foundry iron prices Producers
deny the statement tlat they are forcing iron upon
consumers ahead of the dates for delivery
ROCK ISLANDS EARNTNGS-A Rock Island
officer says: We have been accustomed TO sur-
prises IN earnings. but July is furnishing another.
/ That the heavy volume OF traffic should carry US
half way through the summer without showing
any signs OF abatement is little short OF phenou-
email Our crop advices ere good President
itself from politics seems to have attracted wids
inevitable
AMERICAN TELEPHONE.-Cp 20 the present
tine the stockholders Of the American Telephone
and Telegraph Company have subscribed for IS
per cent of the recent issue Of S2l925,GCo Of new
stock. on this stock $50 a share is payable
July %. and the second payment OF SO a share u