New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-07-19
TOPICS OF THE STREET.

oUot SnareS IN JLe local buying on balance
In London the copper stocks were lower. with Rio
Tintos consptcuOusIy weak ConSoIs were steady,
but the general market was heavy Money was In
fair demand. although the Bank Of England made
only a moderate showing, and In its weekly re-
turn did not hold out the hope of lower rates for
loans. The hardening Of New York exchange ON
London attracted some attention at TIE British
capital as IL thought there the movernenc
might result in further gold shipments from rhs
United States. but in we'll informed local banking
quarters encouragement was extended to the
theory of additional exports OF the metal Tha
London market Influenced BY financial en-
barrassments in Manchester arising out Of ths
Egyptian trouble 1t understood these are be-
Ing arranged and no failures are anticipated Tho
South ManChurian Railway bond issue OF 100000
IS. guaranteed by Japan, was issued AT 81 and 3
quoted at Z Of per cent premium This indicates
some measure OF success, but the underwriters OF
tho East Indian Railway loan had 10 take ID "a
PEI cent OF their issue.
DIVIDENDS DECLARED-Dividends have beer,
declared as follows: II. 3. CIafin Company regll-
lar quarterly IL per cent on the first preferred and
IA per cent on the second preferred payable on
August L New River Fuel Company. regular
quarterly ~ per cent the preferred payable On
August l. United Bank Note Company. regular
quarterly per cent the common Flint Mills
Of Fall River extra per cent. payable on July %
North American Company. regular quarterly II.
per cent. payable on september ?. Lord & Taylor
regular quarterly per cent on the common. pay
able on August I. Silver King Mining Company,
initial quarterly per cent
HEAVY RAILROAD EARNINGS. - Railroad
earnings in the first weeks OF July have been
heavy in all parts OF country increase over
cant, in 1906 traffic unusually large. Re-
ports received by The Tribune yesterday from, ~,
companies show for the second week total gain
OF 1854, 100 and for two companies loss Of S44s2
The Canadian Pacific company shows gain OF
225ooo. the Missouri Pacific gain Of $1,000. tho
Denver & Rio Grande a gain OF $500 and TIA
Missouri, Kansas & Texas a gain Of $se.s09.
TAAIMANY FOLLOWS CLEWS PLAN.-Hsary
Clews said yesterday: Il am very glad 10 that
Tammany has adopted my plan for appointment OF
government directors in all interstate service cor
poratons which proposed in a speech I made az
the Economic Club banquet on the evening OF June
3 The papers state that the Tammany General
Committee has adopted this plan IN resolutions
prepared by the Hon. W. BoUrke Cochran These
resolutions advocate the passage OF laws that will
enable the President Of the United States TO have
representative IN the directorate Of every corpora
ton of interstate character. In my speech 70
the Economic Club said: Ny plan IS 10 appoint
salarted director IN each OF the interstate roads,
this director be the executive committee also
His duties should be 10 act as a watchdog, and re
shall be required to report 70 the Interstate Com
merce Commission all crooked acts or suspicious
OF any feel very much gratihed that Tammany
should have adopted my plan. It IS especially fat
tering, as am on the other side OF the fence n
politics"
TRIBCLLION TO HAVE NEW SHELTER
A dispatch from Canon City. Col. says that r ".
Bull representing the Tri-BUlliOn Smelling and
Development Company, Of New York. has been
there for the last ten days studying the advantages
offered for the establishment Of smelter for treat
ment OF zinc ores He has tested the smelling coal
produced IN thai vicinity and expressed himself
pleased with the results \ special committee ap-
pointed by the Merchants Association 10 show
Mr. Bun every courtesy and 10 induce him 10 To-
cate his plant AT Canon City Las offered the free
use Of eighty acres Of Land the outskirts for 2
term OF years. as well as other Inducements. The
proposed sIneiter VIII treat the zinc suIphides OF
New Mexico give employment TO two hundred men
at the start. and this number ne says. viii De
eventually increased 70 one thousand.
AMERICAN SUGAR Observation-Disclosures in
tons very satisfactory Trade at the moment
IS quiet sugars that were purchased early IN
the lnOHl are now oe-hS disposed OF An improved
condluon or activity Is. however, looked 1or next
month in anticipation OF the early autumn demand
incidental to the berry season Sugar Refining. Il
Is predicted IN Well informed quarters VIII give
good account OF itself wheneve the general mar
ket shows disposition 10 improve
APPLICATION TO LIsT.-Applcation has been
made 70 list the following securities the New
York Stock Exchange: Cleveland Cincinnati. Chi
caCo & S. Louis Railway Company, l,0-9,ol0 ad-
dittOnal general mortgage per cent bonds. due
1893; Westinghouse Electric and Manufacturing
Louis. Iron Mountain < Southern Railway Com
panv 9g 90 additional River & C,rrr Dfvfst77.
first mortgage per cent bonds. due 1858
NEW CURB STOCK-The stock OF the Hanson
Consolidated Silver Mines Limited was dealt in On
the curb market yesterday fer the first time trans
actions having been made at 1s<G1ta The COM
pany has authorized capital OF 10000 and tina
par value OF It's shares IS s. each II IS incorporated
under the Ontario companies act rs properties
are located at Silver Mountain, Port Arr5U-,
Canada. and consist OF $50 acres.
BANK or ENGLAND'S REsERvE--he week
" return OF the Bank Of England shows q per-
Centage OF reserve 10 liability OF A. compared with
+3-71 week ago, +917 az this time last year and
IS i3 IN 1875. The reserve : lower than a. any cur
responding time since 1900. The minimum rate q
discount remains az per cent against 50 ~- cent
last year.
BUFFALO & SUSQUEHANNA IRON DIREC-
TOR-William L Shepard OF Rogers. Brown &
Co. has been elected director OF the Buffalo &c
SuSqUehanna Iron Company, 10 succeed the Ia-e
Frank H Goodyear 5, " Clement has seen
elected first vice-Presdsnr and Charles ". Good
year secretary.
EXPORTS OF FLOUR AND CRANE Ju1e
1901, New York exported 6.09.Soo bushels OF grain
I including -four and meal Philadelphia. Baltimore
and Boston together exported ser $50 bushels MS
ing a total OF uI1o.1Sl bushels for these four
ports. The receipts at New York IN June were
sSs9S67 bushels and at the other three ports Ss-
Si7. The four ports combined received 1928 IS
bushels
BANKS GAIN MONEY.-LocaI banks have
gained far in the current week upward q
100000 their operations with the Sub-Trzas rry
They also have gained the interior currency
movement.
CHICAGO CITY RAILWAY BONDS SOLD.-N
| ". Harris & Co. who. together with the Harris
Trust and Savings Bank and the First Trust and
Savings Bank. Of Chicago. recently purchased
100000 Chicago CITY RAILWAY srsr r1ortes per
cent twenty-year bonds, report that all but $1,000
out Of the 100000 has been sold
TRUST AND SURETY COMPANIES.
L