New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-02-15
TOPICS OF THE STREET.


$4,000 shares IN the local market. buying 10000 In
London the general market firm. with the cop
per stocks the leaders The Bank OF England made
an exceptionally good weekly return. but the dis
count rate was left at per cent. Money was In
excellent demand for last day settlement purposes
The effect OF the rally IN the American market on
Wednesday was something of a factor IN The Lon
don dealings yesterday.
THE COST OF IIVING-Dun's Index Number
II commodity prices propo-.ioned To consumption
was $t07.3f6 February l. against Sl01.26t month
previous and SlOS.172 two months ago Scarcely any
net change iH the level OF prices occurred during
the month OF January. and there stiu appears de-
cline Of about eght-teuths OF l per cent from the
hich point attained on December I. 1906 The
largest gain occurred IN breadstuTs. while the Drn
c,pal decline In garden and dairy products,
where the widest change was provided by eggs.
The aggregate Of all articles OF food IS lower than
on November /. but there appears a substantial
gain clothing and metals over all recent proceed
ms, comparisons which IS offset in large measure
by the lower condition Of the miscellaneous class
that embraces building materials. paints and drugs
The commercial situation February 1 was prac-
ticalIy the at tho opening OF the year. con-
sumption continuing on a scale beyond al prece-
dent and the demand for domestic products was
supplemented by liberal purchases Of foreign goods
as shown by official statistics Of Imports Although
much is said of the difficulty experienced by the
railways I'm raising funds for necessary extensions
and improvements II viii be some time before this
Influence IS felt IN the commodity markets. If ever
as an su1t ana nearby deliveries OF rails struc-
turaI steel and other railway equipment find a
ready market. and IL is probable that the money
VIII he forthcoming before II is actually needed a
slight advance has occurred in finished products
OF textile and some other Industries hut not pro-
portonate TO the rise in raw materials although
these basic products relatively Of greater weight
In the compilation OF this record.
REGULAR UNION AND SOUTHERN PACIFIC
NEUTRALITY-SUSPICIOUS. OF the Union Pacific have
declared the regular seDli-anuual dividends OF
.T- y
preferred stock. As was tho case six months ago
per cent OF tho Union Pacific dividend de-
clared out OF surplus earnings OF the railroad and
per cent was declared out OF income from invest
meuts. Directors Of the Southern Pacific have de-
clared the regular seml-annual dividend OF on per
cent on the common stock. The Union Pacific dvi-
bends payable April l. The Southern Pacific
dividend is payable the date.
MORTGAGES AUTHORIZED. - Tho Railroad
Commission OF this state has authorized the issl-
of & first mortgage for 100000 by the Putnam
& Westchester Traction Company; a first mort
gage for $i50oC00 by the Schenectady & Margaret
VILE Railroad a first mortgage for 100000 by
the Hancock & East Branch Railroad. and a first
mortgage for 100000 by tho Hudson River &
Eastern Traction Company.
COPPER STOCK LLSTINGS.-It IS understood
that number Of copper companies preparing
to make application to the Stock Exchange for the
listing OF their stocks. owing 10 the amendment
adopted by the governors. which is interpreted as
permitting the admission OF first class mining
UNITED STATES RUBBER NIEETINGS.-The
regular weekly meetings of tho executive commit
tees OF the United States Rubber Company and
several OF the subsidiary companies held yes
terday but il officially stated that there was
no announcement of Importance 10 make. The
matter of liqudating the Rubber Goods Manufact-
urng Company is in the hands OF q special
committee. one member OF which is out of town
temporarily. No opposition to the plan has de-
veloped. and apparently it Is only a matter of
time and detail until it is carried out.
TOLEDO. ST. LOUIS & WESTERN.-After yes
terdays meeting of the directors OF the Toledo, St.
Louis 4 Western Railroad Company. IT was on
clally announced that no action was taken on the
question of declaring initial dividend on the pre-
ferred stock. 1t is understood that this matter
will be taken up at a subsequent meeting of the
board.
NEW CURB sTOCK-The Northern Ontario
Consolidated Copper Company. the stock OF which
was dealt in on the curb market yesterday for the
first time. owns valuable properties IN the Algomas
district The company has shipped some ore but
It's mine is stiu in the development stage and i'm
mediate large shipments are not promised The
shaft is a three compartment one and IS down $50
feet all In pay ore. and development work Is baInr
pushed rapidly. The company owns Sos acres in
the townships OF Thompson and Golden within a
mile and half of the Canadian Pacific Railway
and within TWO and half miles of Lake Huron
PIG IRON CERrIF1cATES.-PiG iron certificates
at the New York Produce Exchange were dull and
featureless. There no sales Prices for stand
ard foundry follow Cash ST. bid: February S91 N
bid; March, $2l 20 bid April 81 75Gp$22: Nav S21 90
asked June. 81 so asked: July s2l 90 asked; Octo
Der, $19Q$21
COLORADO & SOUTHERN SECOND PRE-
FERRED Observation-Disclosures Of the Colorado |
Southern have declared an initial dividend OF . |
per cent on the second preferred stock They aIso
declared the regular serli-annual dividend of per
cent on the first preferred stock. The dividends |
payable April l.
LARGE SALE OF IRON.-The Tennessee Coal and |
Iron Company has made sales " two lota OF basic