New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-07-09
TOPICS OF THE STREET.

not like the money position here and ala
stocks in the local market to the extent OF oo 40
shares Most of the business was in Union ParIsr
Southern Pacific and Amalgamated Conner n.
London the general market was steady. though
there moderately heavy realizing sales n, a.
ttcipation of the settlement Money was mr.
changed. Lombard street paid to the Bank OF
England 100000 of loans due. Tenders for Treas
ury bills advanced 10 39i per cent OF the fs5aooo
South African gold offered in the London market
the Bank OF France secured $4,000 the Bank =,
England getting the balance.
IRON SITUATION.-Rogers Brown 3 70 a,
their weekly review of the market say:
Stock taking and the holiday has combined to
make the week light one far pig iron sales
in the East are concerned. From one or two direc
tons come reports of the renewed interest in sno,
deliveries and requests for anticipated shipments
are still frequent While the immediate shortaus
has been considerably relieved. consumers havs
| taken all they have bought and. in good MANY
cases. have more to buy for the third NOT RI
speak Of the fourth quarter deliveries In v,av
of the less congested state of deliveries buyers are
disposed to wait until the last minute before pur-
chasing further. but II is difficult how thera
can be any anxiety on the part OF furnaces while
consumption continues bound TO absorb
any small balances for sale on their books For
eign markets are again more active at advancing
figures, and our own financial circles appear 20
put considerable hope in the results OF the con-
tinued good crop weather. The member OF tho
iron and steel trades who sees anything but a
good six months ahead is the exception to tina
rule"
GOVERNMENT WITHDRAWALS AND BOND
NEUTRALITY-SUSPICIOUS. banks to-norrow
will be compelled TO turn in 10 the government
$40 100000 federal deposits the proportion coming
from local banks being in the neighborhood ~
s12 100000 1t generally has been believed that thu
disbursements by the government on account OF
maturing per cent bonds would Offset the with
drawals of deposits but unless the bonds are pre-
scented in the next two days much more rapidlv
than IN the last week will prove 20 be tia
case. At the close of business yesterday the local
Sub-Ireasury had paid out In all about s5S0O0o on
this account since July 2 when the operation began
1t IS understood that the Treasury at Washington
has taken In a slightly smaller amount so that the
total disbursements ra7ar
ton for the first week amounted scarcely
100000 IL seems entirely likely therefore. that
by July TO- when the $50 10000 government deposit
will be recalled more than One-haf that amount
OF money will have been paid out on government
bond redemption.
STEEL PRODUCTION-It is estimated that m.
year will run close 10 81 600 900 in value tina
largest in the history OF the iron and steel Industry
Pig iron production alone will reach a valuation OF
more than $500 o0ooo while iron ore production will
close to N75.OO0.O01. The production OF coke
for the current year is figured at a valuation OF
Sl23G0oOo while the value of steel rails produced
will be in the neighborhood OF S15OO0Ooo. Copper
production. based on an amount of IOO0O0 0so
pounds. at % cents pound. will have valuation
OF S230.Oo000O. II be taken into consideration
that large amount copper is used in connection
with the manufacture Of steel. The value OF COP
per and pig iron produced in this country this year
will alone have value almost ten times that of
the gold and silver produced.
AMALGAMATED COPPER-The directors ~
the AmaIgamated Copper Company viii meet next
week for the purpose of declaring quarterly divi-
dend the stock. So far there have been no IN
timatons that the dividend will be increased. In
copper circles the belief prevails that dividend
will be similar 10 that declared in the preceding
quarter. Ia per cent and Z per extra. II 10
ngured that Amalsamateds earnings this year.
even on a oasis OF = cent copper. will run close
to s2S5ooo0o. which is equivalent TO than II
per cent on the outstanding capital stock
BROOKLYN FERRY STOCKHOLDERS COM
MITTEE~A committee consisting OF George W
Young Russell Harding and Henry p Wilson. and
Of which John F. Timmons. No 50 Cedar street
this city. is secretary. gives notice TO stock
holders OF the Brooklyn Ferry Company that de-
fault having been made upon the interest on the
nave consented to act as a protective COMMITTEES
for the stockholders. Attention is called TO the
fact that similar committee has been formed
10 represent the bondholders. II IS stated that
holders Of large amount Of the stock consider it
absolutely necessary. in order protect their in
terests. that there be a stock committee as we'll
In interest OF the bondholders and that &C
cordingly they have deposited their shares with
the Windsor Trust Company,
MINERS SMELLING COMPANY epc 81
which are aioat in the financial district conncvs
the name OF F. Augustus Heinze with the Mness
Smelling Company, which incorporated "a
Maine last week with a capital OF 100000 The
new company, il Is understood intends construct
5000 snelter in the Salt Lake Valley. and IL
is supposed that Mr. Heinze will operate the
smelter in connection with the immense cOnCen-
tratirg plant which now is nearly completed at the
Ohio Mine in the Bingham Camp. OF Utah This
concentrating plant will be ready by NOvenber
and the smelter can be constructed in about year
With two such plants. Mr.. Heinze's position in the
mining field would be independent and tmpregnable.
HOMESTAKE MINING DIvIDENDS--It is be-
Heved that dfvidepds will be resumed in the near
future the 100000 capital stock of the Home
stake Mining Company Disbursements 10 the
stockholders were stopped IN May owing to a fr5
in the coTnpanys underground workings. which
made necessary the shutdown Of the entire plant
Now about Is per cent OF the plant is again in
operation. and IT is expected the whole plant VIII
be running.
. UNITED STATES REALTY AND IMPROVE
MENT.-The directors of the United States Realty
and Improvement Company will meet to-day 70 de-
clare the regular quarterly dividend OF Ia cent
on stocks. The business OF the company has
been holding UP we'll. and the company has enough
orders It's books to keep its force busy for the
next two years.
NEW OFFICES FOR JOHN W GATES-John
the eighth floor of the Trinity Building No. IL
Broadway, formerly occupied by the Republic Iron
and Steel Company and Tennessee Coal and Iron
Company. John W. Gates leaves Tuesday for
Canada pleasure trip.
POCAHONTAS COLLIERIES COMPANY.-The
Pocahontas Galleries Company reports for May:
Total income. $1,000: charges and sinking fund.
So $50: balance 1854; preferred dividend $3.50:
Ss6O7s; charges and sinking fund. S45s75: bali
ance. S40.lO4 preferred dividend. 1880: surplus.
s2.60i
GREAT NoRTHERN-The committee on unIist-
ed securities OF the New York Stock Exchange
rules that all transactions In Great Northern Rail-
way subscription. certificates for stock until
further notice will be seventh instalnent 50 per
cent paid
NEW CURB STOCK.-Trading In the shares Of
the Mason Valley Mines Company began yester-
day on the curb The company is capitalized at
are controlled by W. b Thompson and George
Gum.
CHICAGO STOCKS.
ss so s:s. 49, s:ss.i E Biscuit. s;it 3