New-York tribune., 1908-08-02
TOPICS OF THE STREET.

FOREIGN TRADTNG-Foreign houses vera
not factors in the local market the London Ex-
change being closed The London market ad-
tourned on Friday night until Tuesday Monday
is a statutory bank holiday in London. while
Saturday is a holiday on the exchange at the
option of the board. British discounts were IN
changed and at the Continental centres there
were no important movements in securities
money
DECREASE IN NEW CORPORATIONS-Tots
interpretations in the Eastern states during July
of new companies with a capital Of 81 1.OO0.oeo or
over represented s35,391,250 as compared with
s1ssI64 600 in June and s9e. 100000 in July last
year The total Of all companies incorporated in
July with capitalization OF 100000 and over.
including states other than those Of the East
amounted to s116041.250. as against S225.3+4ees
in June and s16s.530.000 in July year ago
MORE TINE FOR DETROIT, TOLEDO &
IRONTON NOTE DEPOSITS-The COMMITTEES OF
the Detroit, Toledo & Ironton Railway Company
per cent collateral trust notes. headed by Joseph
Ramsey, jr announces that the time for the de-
posit of such notes with this committee has been
extended to August 10 The New York Trust
Company. depository Of the committee. certifes
that il and It's agents for the purpose. according
to last advices. hold deposit majority Of the
issue s2.s $4,000 out of the s5.50O0o9 outstand
ing
COLORADO & sOIJTHERN-The Colorado &
Southern is the first important railroad company
to issue complete income account for the fiscal
year ended June 80 last. and the company -
unique in the further respect that gross and net
earnings and surplus applicable TO dividends ars
all larger than they were in the preceding year.
On the common stock the company earned 4Ss
per cent. against ass per cent in 1906-0L
NEW FOREIGN EXCHANGE FIRM-Charlez'
Schumacher. H. NJ Barrett, l. V. Holder and s.
II. Schumacher the latter a special partner. have
formed the firm OF Schumacher. Barrett & Co. Of
No. 70 Exchange Place, brokers IN foreign
change. making speciality of commercial bills
Mr.. Barrett and Mr.. Holder were connected with
the firm of C. Schumacher & Co. for about ten
years
BOND BUSINESS INCREAsEs-The bond
transactions the New York Stock Exchange Ia
July were about ST500,00o. compared with SS5l&-
eco in the month year ago Leading bank-
ing houses are Of the opinion that there will De
few big bond issues during August. SEPTEMBER and
October. In fact, the only ones in sight are one
by the Illinois Central OF S5,O00GO-and even this
may not materialize till after eectiOn-and ore BY
the Atchison, which. according to report. will sCoa
issue some S150oo.eo0 to So6O0.O00 funds
BANK CLEARINGS-"The Financial Chronicle
for the week ended August 1 (oue day estimated
as 405 against s. 4Si S6S in the preced-
ing week and s. sos 424.zS3 for the corresponding
week OF 1861. Compared with last year. the total
clearings have decreased 1873 per cent New YORK
shows decrease of 15S per cent. Philadelphia >
per cent New Orleans 23.3 per cent. and Baltimore
203 per cent, but St Louis shows increase Of 81
per cent.
COTTON MOvEMENT.--The Financial Chron-
cle gives the total port receipts OF for th7
week ended July a. 1908 &c. 759 bales against
23O47 bales in the preceding week. making the
total receipts since September l. 1907. s.22ol2S
bales. against s.65i.159 bales for the same period
Of 1S06-01. showing decrease since September /
1891, ef 1.ss4.0S3 bales The crop is doing well
Rain has been general and light except in LOuisi-
ana. where there are reports OF heavy showers
EQUITABLE TRUST COMPANY.-The Equit-
able Trust Company has made application 70 tls
State Banking Department TO establish branch
Office at No 61S Fifth avenue