New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-06-13
TOPICS OF THE STREET.

F.
20OO0 shares the local market. buying on baIsn.
In London. consoIs firm The mining MAJ
ket. with the exception OF American copper shares
was heavy. Reported new Russian borrowing
caused some recession in Russian bonds hut thu
idea Of further large Russian loan was generally
we'll accepted II is thought the Bank OF France
now has hand enough gold to finance Russia's
necessities without making additional demands upon
London the United States Money was prac-
tcally unchanged at the foreign capitals.
STEEL BUSINESS HEAvY-ofcers Of N.
United States Steel Corporation state that IN.
bookings for the last thirty days have
been equal the entire capacity of its plants each
and every day that there is Indication of fall
ing off in business. in spite OF the many unfavora-
bic factors that have arisen Of late, and which
might be expected to cause some hesitation in the
industry. The untitled orders the books OF the
corporation show diminution from what they
were at the the last quarterly report issued
In March when such orders were placed at sos S5s
tons The orders for steel rails alone for NEXT
years delivery far ahead of the tonnage booked
at this time year ago and aggregate between
500 600 and 100000 tons. The report that the cor
poratiou had recently made contract with outsids
producers for very large tonnage OF coke is de-
MED by Chairman Gary. who SAYS that the cor
poration did recently make a contract for 5aUa
of coke. but that this Is not considered very
important contract. as the corporations outpu,
is fully 1Oc00fA q month.
DIVIDENDS Observation-Disclosures have been
declared as follows: Westinghouse Machine COM
panv regular quarterly 2a per cent payable July
10: Westinghouse Air Brake. regular quarterly y,
per cent and the regular quarterly extra "a per
cent payable July 70; National Sugar Refining reg
ular quarterly III per the preferred paya-
BILE July l: Knickerbocker Trust Company regular
semi-annual % per cent, payable July 1; New York
and Honduras Rosario Mining. regular monthly
per cent; Mount Vernon Trust Company. regular
quarterly per cent, payable July !; the PennsyI-
vania Company. regular semi-annuaI 8 per cent:
Philadelphia Washington & Baltimore. regular
semi-annual per cent, PAYABLE July l; Pttsburg
Cincinnati, Chicago & ST Louis regular sennI-an.
nual 2ls per cent on the preferred and Per cent
on the common; Cincinnati. New Orleans and
Texas & Pacific. semi annual IL per cent on tina
common: Western Union. regular quarterly Il. per
cent. payable July /; lEIolian Company, regular
quarterly Ia per cent on the preferred. payable
June 20; American Bank Note Company. regular
monthly 80 cents a share. payable June %; Gar
field Safe Deposit Company. regular sen1i-annUaI
dividend Of per cent and an extra dividend OF l
per cent. payable June q
MICHIGAN STATE TELEPHONE ANIMAL
report OF the Michigan State Telephone Company
shows the largest growth which the Michigan
company has experienced. exchange stations
having increased 1889 a total OF 92.57s on De-
cember 81 Including sub-rCeuses and rural ex-
changes. the total OF exchange and toll stations On
December 81 1902 In the year four quar-
terly dividends al the OF Ter cent were PAID
upon the preferred stock, S1975.22s 50 was ex-
pended on construction and SSo0.457 "a was ex-
pended on maintenance and reconstruction and
charged 10 operating expense. The company Is
reported To be free from unprovided for floating
debt. and it is predicted that 1907 VIII be very
prosperous year. Gross earnings were 81 ss1 PES
and net earnings S632.2s3. The net surplus was
s46osS7.
PLANTS TO DEVELOP KELLY NnNE-Ths
Tri-Buliion Smelling and Development Company IS
erecting concentrating copper and oxide snaeter
plants at and It's Kelly mine in New Mexico
Woolsey NIcA- Johnson, metalIurgical engineer O.
the company, estimates that the plants which Z,
Is hoped will be completed BY the Arst OF next
year, will net the company s25 ton The plants
will handle 200 tons day 70 begin with. he says
which will yield a annual revenue Of s.. 100000
The tonnage output viii be increased with the
continued development OF the Kelly mine.
LEASE TO COLUMBIA GAS AND ELECTRIC
COMPANY RATIFIED-The- formal ratification %
the Cincinnati. Newport and Covington lease to the
Columbia Gas and Electric Company was assured
yesterday, when large number OF proxies from
small stockholders received by mail az ths
company's Offices This was announced by Prsst-
dent Ernst
EXPECTING INCREASE IN LAND SALES
DIVIDEND.-In Canadian Pacific Railway circles
II Is believed that IN view Of the enormous land
sales Of the COMPANY the next dividend to be de-
elared out OF the proceeds from land sales win BE
increased.
OPTION ASKED ON TIDEwATER STEEL
COMPANY STOCK Stockholders Of the T45svs-
1
the reorganization committee stating that a party
in Cleveland has asked for an option on stock az
81 cents per share. that certain large holders IN
GLIDING Dick Bros. & Co. have already given tbs
option asked and that the OFFER is open all share
holders.
ALABAMA MINERAL LAND CONIPANY-Ths
Board Of Directors OF the Alabama Mineral Land
Company has concluded Distribute to its stock
holders out Of the accumulated cash assets ar1s-
ing from sales OF property an amount equal to %
Per cent OF It's capital stock
GRAND TRUNK BCTS RAII4S.-Ths Grand
Trunk Railroad has bought 10000 tons OF steel
rails from the Lackawanna Steel Company for de-
livery in the year. Other sales IN the last
few days aggregate IS 600 tons. large tonnage 10
pending and next years requirements will -
| heavy
ELECTED DIRECTOR--Joserh Bryan, of
Richmond. Va, was yesterday elected director Of
| the Virginia Carolina Chemical Company. 20 IL
the vacancy created by the death OF Samuel spens
| Ger.
LEHIGH VALLEY DIvIDENDS-Tt Is reportet
that the Lehigh Valley viii increase its dividend
rate: also the Central Railroad of New Jersey.
KNICKERBOCKER TRUST COMPANY.-At .
meeting OF the board OF directors Of the Knicssr-
booker Trust Company, held June II, Archibald q
King was appointed additional assistant reasS
| urer.