New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1908-05-30
TOPICS OF THE STREET.

EopErc,N TRADING-ForeiGn houses dssat Ia
$1,000 shares in the local market. an purchases IN
London consols were strong and the general mar
ket was firm though duh The clearing or the
foreign monetary outlook was the bes' teat1re %
the london cable DISPATCHES. and was reSponsfhIs
for the advance in British consols and the cheer
f1I sentiment in foreign banking circles can
money was trffe frmer at the British capital
There were important changes IN money az
exchange rates at continental centres
COPPER TRADE CONDTTIONS.-WaIker's Cop
Nor Letter saws: Copper is a shade weaker. Laks
Is offered at II cents. and electrolytic at 1876
per pound. II is understood that there have been
sales recently at these prices and also that eIec-
troIytfc has sold in million pound lots at l2c
IN Is probable that the reaction viii prove teyl-
porarv as IL was brought about by n sudden lOss
of confidence. resulting from or accompanying rs
severe break in stock market prices. Wnether tlfs
decline in prices further recession IN bus
mess activity is not yet Known maj BUSINESS IN
prOvenent has begun IS true peyohd Question: IL
NAV be expected that the resumption VIII De char-
acterized by the usual fluctuations, and at times
the outlook will be exceedingly unpromising Money
is eszv however and unless suits 70 disrupt
listing railroad combinations are brought BY ths
yoI-eTrr1ent as is now threatened. confidence in
securities will surely and the needs OF largs
railroad and Industrial corporations Will b
financed. This will result in increased employ
ment Of labor and a renewal OF business activity.
If is the financing of proposed extensions and new
equipment for these large enterprises which VII
make a good demand for copper Every successful
bond fOtatior Is a bull point on 'he meta marcel
Official reports Of last years copper promotion are
being published. They show falling on IN prac-
ticalIy every district in the United states For IN
stance in tie Lake Superior district there was
shrfnkage OF over 900 900 pounds conparedWih tbs
preceding wear though the curtaiInert during tbs
closing months of the year was much hghter there
than elsewhere Production Throughout the GUN
try is between so and % per cent OF normal.
and the prospects are good that by July al ms
mines and smeIters will be running 10 approA-
mateIy their full capacity. Production cosfs are
being reduced every "il e -, - 49,, - - -
as practically certain that before tne emo OF rs
year there will be demand for all the copper ms
mines >can produce at a higher price IMAM 4 low
commands in the market
& TEXAS-A director
the Missouri Kansas Texas. referring 70 the fac,
that President Of the United states has signed
the removal Of restriction bill releasing about
s 600 600 acres Of land in Oklahoma hitherto
available for settlement owing to Indian title
this is addition 70 100000 acres On which
restriction had already been removed THIS opens
up about 500 900 acres Of the best lands in Okla
bona for immediate settlement. and SO per tsnt
OF these lands the line Of the Missouri.
Kansas & Texas Railway Company, which viii
receive enormous accession Of business there
from
DIVIDENDS DECLARED. - Dividends have
been declared follows: Chicago & Northwest
ern regular quarterly per cent on the preferred
and the regular semi-annUal 3i2 per cent ths
common. payable July l. American Can COM
pany regular quarterly = per cent on the pre-
ferred. payable July / Safety Car Heating COM
pany regular quarterly per cent. payable July
l. Copper Range Consolidated quarterly 1 per
Northern Pacific regular quarterly = per
cent. payable Aug l.
DETRO1f. TOLEDO & IRONTON-Ths re-
ceivers Of the Detroit. Toledo & Ironton Railroad
lien which falls due Monday. No interest
will be paid the s5.50O.OO0 per cent notes
which due the same day. the interest being
already in default by reason Of the company's
failure TO pay the interest upon its consolidated
bonds. which deposited security for ths
notes.
PACIFIC MAIL REPORT-The report OF ths
Pacific Mail Steamship Company for the year
ended April so shows deficit OF s42s.s17. corr
pared with a deficit of s130.405. Gross earnings
showed a material falling of from those OF the
preceding year, while operating expenses IN
creased.
NEW CONSOLIDATED MEMBERS The FOL
lowing have been elected members OF the Cor
solidated Stock Exchange: Henry Sheldon. GeoTg
F. Hasbrouck. Arthur J. Lefkovits Walter 8
MandeI and Edward L Graft
GRAIN EXPORTS FOR THE WEEK.-''Brsd-
streets" reports the exports of grain for the week
with comparisons. figures in bushels. follows.
Wheat. -four included. 2S7S,2S9. against 2.930,25l
last week. 2.401994 last year and 3.90O.645 in
1902 For the fiscal year date ISIS $50 51T. {
compared with 155.6S1 S94 in 19G6--O1 and 23s-
1892 last week and S64255 in 1907 For the
fiscal year 10 date 44770.99S. against 67.51401S
in 19O6-'07.
CARNEGIE TRUST INITIAL DIVIDEND
The directors of the Carnegie Trust Company
have declared a semi-annuaI dividend OF per
cent. payable to stock Of record June I. This
is initial dividend. the stock having besr
placed a 8 per cent dividend basis
PANHANDLE BONDS-The Panhandle Rail-
road tthe PittshburG. Cincinnati. Chicago & 81
Louis) has sold 100000 of its per cent
bonds to Speyer & Co. and Kuhn. Loeb & Co
GOLD COIN SENT TO CANADA-The Sank
of British North America yesterday shipped s445-
GOO Of gold coin Montreal