New-York tribune., 1907-06-05
TOPICS OF THE STREET.

SoOOO shares In the local market, buying on hall
ance. In London the general market was b..,,-.
with consols under the low record made Monde.
Tho Rio Tinto shares showed some strength tn.
continued French demand for gold has created +.
depressed sentiment IN London Stock EXCHANGE
circles, but the position of the london ,,o-or.
market offers no reason for uneasiness No 60
frmation was had yesterday of the persisten, re-
ports Of financial trouble at the different Err
pean centres. Discounts in London were sljsbtl,,
frmer. Paris exchange on London was unchanged
HOOKING VALLEY.-The plan for the conzolt
dation of the Hooking Valley the Kanawba =
Michigan and the Toledo & Ohio Central was an
nomced last summer, but, owing to the poor con-
diton of the general markets since then the tim.
for the deposit of securities has been repeatadI,,
extended. and now has been set for October / Tbs
plan involves the Of cash for the purchase AZ
par of such OF the preferred stock not turned
in for exchange at 10 for the general lien per
cent gold bonds Of the new company Presumably
the bankers are no more anxious TO take the bond,
than the holders of the preferred stock
DIVIDENDS DECLARED--The directors OF the
American Car and Foundry Company have placed
the common stock of the company on a per cent
basis and have declared the regular quarterly divi-
dend of 1st per cent the preferred. Ths
Chicago & Eastern Illinois has declared tho
regular quarterly dividend Of liz per cent
| payable July l. The Celluloid Company has
declared the regular quarterly dividend Of IL
| per cent. payable July I. The American Can
Company has declared the regular quarterly divf-
| dend of IA per cent on the preferred, payable on
,Iu / Traction Company
phia has declared a semi-annual dividend OF 2S
| per cent, payable July ]. The Mackay Com
| panies has declared the regular quarterly dlvi-
dends OF per cent the preferred and per cent
| the common. The CRANKY Consolidated Copper
| Mining Company has declared the regular quar-
| terIy dividend of per cent and an extra per
| cent.
| SHIPMENTS FOR GOLDFIELD,-Ths Goldaeld
Daisy has begun shipments. the first lot being ten
| tons of ore from the Kreiss lease. It was taken
tons will above $3.50 to the ton. while the
| ond grade Is expected 10 run about HT5- There
| are two shafts IN the Kreizs lease. The
| ledge IS wide and contains punches OF extremely
| rich rock showing horn silver and gold At the
| company shaft the water has been interfering
| with work 1t has at the rate OF 10000
| gallons day. new pump has been installed and
! the water IS under control. The GOldfsld
| Daisy is controlled by a New York syndicate Of
| which o. p. Posey Is president. w E. Mitchell
| vice-president and ". NJ. HoagIand secretary and
| treasurer. John r. SearIes who recently resigned
| from the American Sugar Refining Company. IS
| general manager.
| BURLINGTON. CEDAR RAPIDS & NORTH
| ERN--At the organization meeting OF the direct
| orS Of the Burlington, Cedar Rapids & Northern
| c w Hilliard was elected director 70 succeed
| {. J. Ives. deceased. and the following officers
| were elected: President. Robert Mather; vice.
president. c. L, wincheH; secretary and treasurer
| George II. Crosby; assistant secretary and as
| sstant treasurer. G. T. Boggs. The executive
| committee elected. consisting OF the following:
| D G. Reid. B. F. Yoakum. W. H. Moore and
| Robert Mather.
| OIL PRICES ADvANCED-Ths Standard OIL
/ Company has announced another increase in
/ prices Of crude oil. CabelI has been advanced 10
cents 70 81 81 Ragland has been marked I'D to IS
| cents. Quotations for other grades are unchanged
| as we'll as those for refined petroleum. In SYM
pathy with the increased cost OF the raw material
crushers have made an advance Of cent a gallon
IN quotations on linseed OIL The present range is
10 to IS cents for city and "A 10 45 cents for
state ana western raw, according 10 size OF or
der. the usual advance Of cent over these prices
| being named for boiled OIL The rise has been ex-
| pected for some time
| EXPECTING S PER CENT on SNETTTNG
| COMMON-The directors OF the American Smelling
] and Refining Company Will meet to-day 70 act on
the dividend both the common and preferred
stock. The dividend the preferred stock is hxed
and assured at ia per cent quarterly and interest
| centres solely what the directors will do -
| gardiEg the dividend the common stock IL has
| long been expected that they would ar this time
declare dividends al the rate of 10 per cent or "a
per cent quarterly. on the common. but it was
said yesterday the rate would be S per cent
BATOPILAs PRODUCTION-A telegram tus.
| received from Alexander r Shepherd. jr. assistant
| general manager OF the Batopilas Mining COMPANY
/ announces the shipment Of SS.0OO ounces of fus
| silver. product for May. The yield for the week
| ended June l was 1S.ooO ounces. Camuchin Is r.
ported as improving. and several workings in light
| silver are promising.
| FAILURES IN MAY-Comrerciar failures - ~.
United States during the month OF May. according
70 statistics compiled by R. G. Dun & Co we're
s., in number and S9.s65410 IN amount OF defautsi
/ liabilities. THIS is a most favorable comparison
with the corresponding month last year when there
were 500 failures S2s ss Manufacturing s,ls-
pensions were 212 IN number and S475s725 in amount
against ls failures last year. when liabilities were
S05S213. Trading failures were 6l4 in number and
| AoS5.2+5 in amount, against 676 defaults in Nav
| 1906, when liabilities aggregated &.S12S42
/ COTTON ACREAGE-"The Financial Chronicle
| has issued report on cotton acreage. showing
according 70 its estimates. that the acreage for 1907
| Is SSOIS425 acres. compared with an acreage o.
Sl55I,242 in 1905, increase OF 4So per cent. Tbs
| government estimate places this years area un-
der the crop at S1e50 IO acres almost exactly 1o0-
| Co3 less than the "Chronicle' estimate The 70
| port says that efforts to curtaI or hoe down ths
| area have been IN vain.
| PIG LEAD REDUCED-The American Smelling
and Refining Company has reduced the price cs Pig
lead from cents 10 575 cents a pound.
| CORN PRODUCTS-The Corn Products Refining
Company has sold Its Peoria plant for 100000 and
| has appropriated S.o00Oco 70 enlarge its Western
| plants.
| HAVANA CENTRAL--Speyer & Co. en- behalf
| of J. Henry Schr0der & Co, OF London. announces
that there have been deposited under the proposal
| up TO May 81 bonds and common stock Of the
| Havana Central Railroad Company n excess o.
| the amounts required make the proposal opeya-
| deposited their bonds and stock they have decided
| June 20.