New-York tribune., 1908-07-19
Sauiags Banks.
TOPICS OF THE STREET.

FOREIGN TRADING.-Foreign houses v.,s
not active i'm the local market. their operation.
In London the general market was inactive with
some Improvement in American issues Rio
Tintos also were strong Money and discount
rates were unchanged at the British cap,saI
Gold to the amount of 100000 from South Afro.
will be offered in the open market Tomorrow
and IS expected to go to the Continent
COBALT'S OUTPUT-The output Of the co
bait silver camp in Canada for the first sx
months of 1908 9.151 tons. against $50
tons for the corresponding period Of 1907. This
shows an increase of 2.60S tons This increase m
tonnage does not reflect the actual growth n
shipments and value OF the output, because ~
the fact that several Of the leading properties
have in the year erected concentrating plants
and are sending to the snelters only high grade
ore and concentrates. Kerr Lake, Coniagas, Buf-
faIo and Cobalt Central shipments now consist
wholly Of high grade ore and concentrates, and
the smeIter returns from these shipments run
very much higher a ton than those from the ore
shipped by the other mines. The month OF July
will show large increase IN tonnage over the
correspondine month Of last year Thus far the
O'Brien has shipped 95 tons. the Nancy Helen 90
tons the Silver Queen 80 tons and the Nipissng
Sc tons of ore while four other companies have
sent carloads ranging from 20 TO AZ tons car
Cobalt Central has car ready to ship that will
run 25 tons of concentrates. and viii send
ond the last of the month The last named
company is installing some additional machinery
in its concentrating plant for the purpose OF
materially increasing its capacity and adding to
the economies of operation The plant is nov
metal values: the changes will increase this
average to 96 pes cent
A NATURAL QUESTION.-Unfon Pacific ID
making enough money to pay 10 per cent on its
common stock. Baltimore & Ohio maintains its
per cent rate because the management believes that
by the next dividend period earnings will be back
to something than a per cent basis rhe
New York Central finds despite hard times. it can
paw per cent Some people. therefore, naturally
ask Why all this talk about bankruptcy II freight
rates are not, advanced2 The pennsylvania can
afford TO pay per cent. but IL does not favor
rate advance In the recent prosperous times roSe
railroads increased dividends Rates on freight wers
then on the present basis in many cases, and u
some lower -
STOCK EXCHANGE NEWS II bershfp
transferred-Robert s. Barclay to Robert H. simp-
SON. Efingham Lawrence & Co., NO AS Diuau-
wav New partnership-Veit, Lyon q Co. Ju,y
t. 1908; No. 115 Broadway j. Nelson Nell Wal WAL
ter I,von and James Theus Munds; sponsor. VIII
lam RouIdin. jr Branch of1ces-Curlle ~ DoSos.
No s1e Broadway. New York CITY dlscontihueo'
q Hudson & Co. No East 4ttn street. VIEW
York City discontinued: Taller hooinson 'new. -'.
fttb street and Fifth avenue. New YORK oity'
IIn-,- D stevens manager New address-her-
bert II Knox at George b. Hopkins & Co., NO %
Broadway r'ig
1,>-ny rTFhRINS,S The Financial Chronlee-
gives the tctaI bank clearings OF ehe Oii ssS
for the week ended July Us zone oaS esl.~l. .s 80
as 60 551 eO9 729 against s2-556.65Slsz IN me pr
cadng week and So 146.255o3o Ior tne coi ~.
ing week of 1907 Compared win -iS' - csnr
ole
Now work showed decrease OF bl per eeh1. 80 80
O,os % . ner cent and philadelphia 1913 per eenc
while an increase Of 81 per cent Is SHOWN III NN
case of Chicago
,>-r OF COTTON-"The Financiai
r.Lonic1a-, gives the total port receipts oL Co. s
s az veek ended July Il. 1903. as ZoO1- oaies. 1
against 1913 bales in the precedlns 80 70 "a
e. .ot.I receints since September I. 1901, sAos~
baIes against 9657,19S bales for the same pei 1sr -
1q0sO7 showing a decrease since september l. Ss ~.
nf ! 4ss - bales The weather has been senerans
savorable and the crop is doing well on the WHY
NEW YORK STOCK EXCHANGE DlkECIOrnL Dlt,l r
REkDY-The July. 1905. New YORK Stoch -
change directory is ready for distrlOuIlon 20 Hs.
hers and NAV be obtained on presentauon vi
wrirfen order at the office of the secretary
DIVIDENDS DECLARED.-Dlv1denos hese s Dsf %
declared as follows: Western PennsSl SlSeiill q. ~ ar
wavs Company regular quarterly IA per SsA - ~
the preferred. payable August 1; CornWaH q - 10
anon Railroad regular senl-annuaI per Sen- aIns ~
able on August l. and Rome, Walertow1 . So, nav.
bnrg RafIwav regular quarterly IA per cent, pay
able August 10