New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-07-11
TOPICS OF THE STREET.


out upward of coco shares. chiefly Union Pacsres
AmaIgamated Copper. United States Steel and 8,
Paul. In the last three days London has sold MOI.
than $4,000 shares in this market In London the
copper stocks declined sharply. while the entir.
market was weak Selling CT the copper ISSUES v,-
based the reduction in the price OF copper IN
this country Money In good demand al IN,
British capital and IN the settlement the contsnro
rate American securities was unchanged at A,
20 y. per cent from that quoted two weeks ago
The banks made Stock Exchange loans at "a. rs-
cent. which compares with per cent at tia las,
settlement.
STOCK. EXCHANGE LIsTINGs-The foIyovvt,z
securities have been listed on the New York stoc,s
Exchange; An additional S114100 preferred stoclr
and $4,000 of common stock OF Chicago. Milwaukee
& St. Paul. making total amounts listed Ss6O7SOo
Of preferred stock and $50 107, 100 of common An
additional $4,000 refunding mortgage per cen,
bonds. due 1884, of Chicago. Rock Island & Pacific
Railway Company, making total amount listed
s65s2. Oo0 Power is given to list from time TO tus
but prior TO January 1, 1908. additional $4,000
Of these bonds after they have been sold. making
the total amount authorized 70 be listed SIS 81 ga
An additional $4,000 of the first consolidated mort
gage guaranteed per cent one-hundTed-ye bonds
due 20G0. of the Third Avenue Railroad Company
(Ncw York City Railway Company lesses). making
total amount listed S7.569OOo.
LONG ACRE COMPANY'S vICTORY-rh.
Long Acre Electric Light and Power Company
subsidiary company of the Manhattan Trans,
Company, has just been assigned space IN the
subway conduts for it's electric conductors for FUR
nshing light. heat and power. Inquiry AT the Of
fees of the company to the meaning OF this de-
velopeG the information that this is the last act IN
which he
tween the Long Acre Electric Light and Power
Company and the lighting trust. the result being
that the city has two competitors IN this field
The subway company having fully compiled with
the mandamus recently issued out OF the Supreme
Court it has therefore been released from the con-
tempt proceedings IL was stated that there was
nothing 10 pre-ea. the Long Acre EIsctrfs
Light and Power Company from Immediately pro-
CeedinE to supply customers with electricity. Tho
company purposes Immediately to proceed with the
building of it's plant
COPPER TRADE CONDITIONS Gonna.
market still somewhat unsettled yesterday
and the smaller producers had not definitely de-
cided Just what quotations they would make With
the United Metals Selling Company and Phelps
Dodge & Co. Offering electrolytc at PC. that was
generally recognized as the established prics for
the product in the next few months The Calumet
and Hecla company was commanding BE for lake
copper and other producers for that grade said ths
market for ii undoubtedly would be finally settled
about 22tlc to z2s4c pound slightly under
the Calumet and HeCla's price. as that companys
copper always commands a figure from l4c to 10
above that of other lake copper producers. So far
could be learned. buyers yesterday were in
hestating mood and generally inclined %
await further developments before placing largs
contracts, though the big producers stated that
they had no intention of making any further
cessions.
MONEY MARKET MOVEMENTS number %
transactions involving large OF money ana
further shipments of gold 10 Europe were respon-
sible for higher rates for call money in yeste--
days market. The government withdrew upward
Of S12.o00000 from the local banks. payments vera
made on the Union Pacifc's S75eO0O00 couvertibie
bond issue and a large payment was made on the
Atchison bonds The total payments by banks
amounted 70 upward of SSe.a00,o9O In money mar
ket circles the opinion expressed that tha
rates for loans would rule firm throughout the
remainder OF the week and that for number Of
weeks 10 come bank reserves would be at level
which would not permit a return OF easy quota
tons for funds
BARGAINS" AT THE AUCTION ROOM
There sold auction yesterday i67 shares %
the PawcatuCk Valley Railroad COMPANY Se1
shares of the Westerly Gas and Electric Company.
SD shares Of The Mystic Electric and Gas Light
Company, 7o6 shares of the Westerly & Hopkinton
Railwar Company and $4,000 Of Westerly & Hon
kinton Railway hrst mortgage per cent sinking
fund gold bonds. the total bringing $500 The
Westerly Light and Power Company. OF Rhode
Island. organized I'm 1877 10 take over the
Westerly Power Company. The latter company
owned about Sd per cent OF the securities OF ths
Westerly Railway and Lighting Company which
in turn controlled the Westerly Gas and Electric
Light Company. the Mystic Electric and Gas I&ghr
Company and thu westerly x Hopklnt0n Railway.
The company also owns 90 per cent Of the stock
OF the Pawcatuck Valley Street Railway. which
was organized in 1901 and which operates 6ia miles
OF track
ST PAUL. NEW STOCK-Tbs St41oo preferred
stock and Si94 go common stock OF the CHICAGO.
Milwaukee * St. Paul Railway Just listed on me
Stock Exchange represents the rights o. stocA'old-
ers In subscribe To fractional shares under tAs
Sl,O0JAOt0 stock subscription offered ~ December
In order 70 avoid causing stockholders the losses
with which they threatened under the original
subscription plan il was decided that the company
should buy in the fractional rights and sell stock
against them.
PENNSYLVANIA WANTS BALD EAGLE MI
NORITY STOCK-The PENNSYLVANIA Railroad
Company the owner of the majority % the capital
stock OF the Bald Eagle Valley Railroad COMPANY
has offered "a purchase the outstanding STOCK g,
the latter on basis of exchanging three shares OF
its own capital and so III cash for each share
of the Raid Eagle Valley Railroad Company. pro-
vided that two-thirds or a less amount SAUSAGE
tory To the Pennsylvania Railroad COMPANY OF
such outstanding stock shall be deposited with the
treasurer Of the Pennsylvania Railroad company
not later than September IA, 1891.
GOLD EXPORTS-The Russo Chinese Bank yes
to-day engaged Sl.OO0O0 gold for export by to-
days steamer Paris. Current rates FOR demand
sterling slightly under the level at which ship
ments OF the metal may be made al q pront oc1
the negotiation for yesterday engagement Was
made last week whel exchange WIS from 50 TO %
points higher. Total exports Of the metal oc tho
current movement amount To $2S.55aoa0
AMERICAN TELEPHONE AND TELEGRAPH
PAYNENTS-Th underwriters OF the American
Telephone and telegraph Company's SGONOe.oO con-
verti5Ie { per cent bonds have been called upon 10
make 10 per cent payment on their Subscriptions
This will make q total call OF NJ per cent The re-
naming calls are to be made on October 10 ana
January |.
L. +. BUCHANAN BACK.-Edward F. Bu-
chanan. OF the banking house of y. Q. Brown & Co.
has returned from his native state. Georgia which
he recently visited in connection with his business
interests there. Accompanying Mr.. Buchanan was
a party Of his friends and business associates. IN
Guiding a O. Brown. of the firm bearing his name
George I. Whitney. the PittsbUrg banker; Fred
ericS Lewsohn, OF Lewiston Brothers; Chlonsl
Frederick F. Dickson. of Cleveland. and others
The party made guests Of the city OF Atlanta (
where %r. Buchanan is well known. having crsis
ncIy from that section OF the state.
RECORD HAIlF-YEAR ANTHRACITE PRO
DUCTION.-The anthracite tonnage for the first
six months OF 1907 heavier than any preceding
six months production In the history OF the an
thracite trade, The last preceding highest SIX
months tonnage was in the first half OF lstS Win
aggregate OF SoTiSss7. or 2lS1SsS less than tn'
1897 record.