New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1908-08-23

TOPICS OF THE STREET.

FOREIGN TRADING-Forefgn houses not
factors in the local market. as the London ex-
change was closed. There change In money
rates at the British capital and no indication OK
higher quotations in the near future Money az
all the European capitals. except 10 some extent az
Berlin, is in heavy supply, While the demand -
light Monetary conditions abroad are similar to
those prevailing in this country. and the fact thai
there is much idle money IN Europe Suggests
the probab iitv of greater activity in the foreign
securities markets before long. II is expected mat
a better demand abroad for American securities
will develop
PIG IRON MARKET-Rogers. Brown & Co say=
''Durng the last week there has been a marked
increase in inquiries for next years deliveries or
mig iron but in only few instances has business
resulted Sellers can see reason why they
should make extended deliveries at present low
prices and until the general business situation -
more clearly developed buyers hesitate to ooh-
gate themselves at the increased prices demanded
In the mean time considerable tonnage Is being
scId for delivery over the rest Of this year Ths
aggregate of this tonnage is larger than Is gener-
ally supposed. owing TO the fact that buyers are
quietly placing their orders without first sending
out general inquiries. Almost without excepuofN
foundries report gradual increase in business
and throughout the trade there is general 1eslnS
of optimism as the future The unanimity OF,
opinion as TO the return Of normal conditions -
remarkable The only point on which there is any
disagreement is as to just when this return VIII
in"
I.ACKAwANNA'S EARNINGS-Earnings e4
the Delaware. Lackawanna Western for the
quarter ended June 80 and for the twelve months
make in view of depressed conditions in the 0uSl-i
ness world. favorable showing. presentIng.
of the few instances among the railroads u
this country where gross receipts for the PERIODS
named were larger than in the corresponding
quarter last year and in the preceding tWeiVS
months Though net earnings showed a slgnS
decrease, the loss unimpoTtant Gross Ierf
the quarter amounted 10 s3.2s3.446. against So
24sIT4 in 1907, and net to sl514s2S- against a.
675733 In the year before For the twelve monthSi
gross earnings were s1324S.57S. compared WIZ
s128445O6 in the preceding year. and net Were
SIS 49, s36. compared with S6.sS0.S5l IN the yeaS
before Surplus after charges in the last nsca-
n
of the company, with the exception OF tne Esaf
ended June 80. 1901
MOVEMENT OF COTTON--"The Ffnancia1l
Chronicle gives the total port receipts or COT.
ton for the week ended August q as 44-to
baIes against 2403s bales in the preceding Wees.
making the total receipts since September SUI
s31O2S7 bales. against 9.592.472 bales Tor tne
same period Of 1e06-'07. showing decrease sincd
September I. 1907. of 1,Ss2-1s5 bales WeathSr
reports are generally satisfactory Lisht a..
has fallen in most localities Picking Is raAl-s,
good Roadway in earlier sections. and new co'tolS
is moving fairly freely
BANK CLEARINGS-The total hank cearinss,
according TO The Financial Chronicle, tor tho
week ended August p lone day estimated} Wers
60 sss SAG 27s against 4sT 59s for the preee-
ing week and $4,000 ,20s for the Corresponding
week Of 1907. Compared with last year the lolAL
clearings have decreased only 5 per cent Ne@
York shows an increase OF IS per cent but EhI4it-
delphia clearings decreased rs per cen, Di
more 15.6 per cent and Boston 104 per cent
DIVIDENDS observation-disclosures have oees
declared as follows: Associated Merchants Coll-
pany regular quarterly ia per cent on ne - Sol-
mon payable September I; Twin City Rapid iran
sit regular quarterly IS per cent on the pIeis sI
annual per cent on the preferred PayaDie SsS
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