New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-05-02
TOPICS OF THE STREET.

factors in the local market, owing to the holiday
on the London Exchange. In London there wa
large supply of money in the open market and
rates were fractonally lower. There a larss
return of dividend money. At Paris and Berlin tina
markets were quiet. Cable dispatches report a bet.
ter sentiment abroad over American securities and
it believed the decision OF Atchson directors
to put out 1900 OF convertible bonds viii In.
foreign confidence in conditions in this coun.
try the theory that the action OF the directors
reflects vast improvement in money market affairs
in the United States.
MOVEMENT OF MoNEY-Government funds
to the amount of 100000 were deposited with
local banks yesterday. Against this amount tho
banks have lost 81 $4,000 on gold shipped to Can.
ada Since Friday, not including the foregoing
the banks have lost to the Sub-Treasury N.1s70oo
and the Sub-Treasury debtor at the Clearing
House yesterday TO the extent OF S4l5.57s. Cau
money was frmer yesterday, with the minimum
rate per cent and the maximum per cent. This
last is the highest figure that has obtained for
some time recently and is in contrast to a mini
in the last few days Of IA per cent
The higher rate is attributable 10 the May / In
terest and dividend disbursements and the tone
of the money market has been to extent in
fiuenced by the recurrence OF monetary require
ments by railroad corporations as reflected IN
the offering of Atchison Fer cent convertible
bonds. There was moderate calling OF
loans for special reasons. The Sub-Treasury
began to pay yesterday 100000 for United
States government interest. 1t is again asserted
IN Well-infOrmed quarters that government de-
pcsits will again be made in the national banks.
here in the interior should any monetary
strain appear 10 be threatened.
ELECTRIC PROPERTIES COMPANY.-Dt-
rectors Of the Electric Properties Company have
declared dividend OF per cent on the common
stock for the year ending April 30 payable June
10. They also declared dividend on the preferred
stock at the rate of per cent per annum to April
80. 1907 from the date Of the last dividend. jan
uary g. and from the date subsequent payments
Nav 10 errpd GrO
holders and subscription receipt holders OF record
May T. Preferred books close May and reopen
May II.
CHICAGO & ALTON EARNINGs-March earn
ings of the Chicago & Alton do compare with
the corresponding period of last year as favor
ably have those OF the two or three months
Immediately preceding. They show a relative fall
Ing off In gross business. and net for the month
reflects the poorer operating conditions which pre-
vailed during the period. The increase in gross
earnings was something under per cent and
in net about 5ls per cent. showing which is
far from the average which has been maintained
throughout the year. For the nine months OF
operation, however, the results considerably
more satisfactory in comparison with those of last
year. Gross earnings for this period show In
crease OF S6951g1. about 20 per cent. and the
figure has increased over 10000 20 er cent
The amount of business offering during the
naming three months of the fiscal year will prob
ably not show any material increase. but 1t is
we'll the figure for the nine months
period
IRON CONDITIONS-It is now figured that pig
iron conditions are stronger than they have been
In two years. Not only Is there a pronounced
shortage Of iron, but prices moving upward.
Several furnaces have refused TO consider further
orders calling for delivery this year No
foundry iron for delivery in May and June has
been sold high so 30. Birmingham, and small
lots for Immediate shipment have brought SIS and
49,. ~
ticalIy their entire capacity for this year One
iron firm Is said to be asking so ton for No.
foundry iron for delivery in the last half OF the
current year. A local dealer has sold about 1000
OF foundry over the last few days for delivery
in the last half.
FOREIGN Rail-. SAIES-Statistics bearing on
steel rail exports show that the mills securing
a much wider margin OF proht on their shipments
than year ago. For example, exports OF steel
rails for the nine months ended in March aggre-
gated l0lS TONS valued at S6S4S70. at the rate
OF slightly over SIS ton In the corresponding
period OF the last fiscal year shipments aggregated
257. 159 tons. valued at S5,554so0. about SIS q
ton. IN brief. the rail mills appear 70 be secur-
ing about 81 ton more for rails sold in foreign
countries than a year ago.
DIRECTORS OF TINTIC COMPANY.-At the
annual meeting OF the stockholders OF the Tintic
company OF which Grant B. Schley is president.
the following directors were elected: Frederick
Strauss OF ]. & ". Selignan & Co.: Alfred Jaret-
r.. j..
Berwind-White Coal Company; Oliver h Payne. G.
3. Schley, X. r. SchIey and Michael Gavin. The
property Of the company is in Bingham. Utah. and
adioins the Highland Boy mine OF the Utah Con-
solidated company.
EXTRA TOBACCO DTvIDEND.-Directors OF
the American Tobacco Company yesterday declared
the regular quarterly dividend OF 2la per cent and
an extra disbursement OF per cent Three months
ago only the regular Pa per dividend was paid:
six months ago IA per cent extra was also dis
bursed
NEW YORK. NEW HAVEN & HARTFORD-A
special meeting OF the New York. New Haven 6.
Hartford stockholders Will be held IN New Haven
on May 81 at 10 a 70 amend the charter and
consider and act upon the proposition to merge the
company with the Consolidated Railway Company
a majority of whose stock IS owned by the New
Haven company. The books will close on Nav 20
and reopen June l.
DER DISCONTO GESELLSCHAFTS YEAR
The annual report Of the Disconto Ceseuschafr
OF Berlin and London for the fiscal year ended
December 81 last. shows net profits OF Sass s57
Of which sS.642S57 disbursed in a per cent
institution on December 81 aggregated S2O5.44s 245
including ss.sS6s5S in cash
BETTER DEMAND FOR COMMERCIAL, PA
PER.-The New York banks and trust cornpan{ss
as well as other financial corporations are buying
more literally OF prime mercantile paper and az
the same time there Is pressure OF paper on
the market Sales are reuorted low as per
cent for four months. The market is nominally
quoted at TO 515 per cent.
NEW EXECUTIVE COMMITTEE FOR BATO-
PILAAS MINING-The directors OF the BatopIlas
Mining Company have reelected the retiring off,
GERS The executive committee was reorganized
with the following members; Chairman. ex-Judgs
Morgan ]. O'Brien jefferson NJ. Levy Edward B.
Ioew. Homer r. Parsons. Lyndon II Stevens.
Samuel L. Elliott and L. II. Scott