New-York tribune., 1908-06-28
TOPICS OF THE STREET

FOREIGN TRADING.-Foreign houses
not active in the local market their transacttons
consisting OF evening operations In London ~.
general market was dull better demand wa.
reported for money at the British capftaI a.
much as "a per cent being paid for July accom-
modation- Upward Of f1.000.0O0 gold win be Of
fered in the open market Tomorrow and parts q.
expected to get the bulk OF -.
THE IRON TRADE-Rogers. Brown 4 On
say: THE market in general is quieter as TO salsr
but no less hopeful for the future The onl7, 70
table transaction of the week is an or1s- -.
10000 tons Of foundry iron placed IN New Eng
land Otherwise the tonnage is made up Of small
scattering lots. Sentiment. however Continues
to grow more hopeful from day 10 dav SJnnn,a~
dulness is looked for. and will surprise no one
but all branches OF the trade counting on a
steady Improvement in melt during the sunrns-
and decided increase by the fall 3leanvvhiIe
attention centres on crop conditions and the stfi
tude of the railroads toward purchasing supnlfes
Indications from both these quarters are hone
full Business in finished material stili CONTINUES
irregular. with marked dulness in certain depart
ments and decided activity in other directors
Bars reported active and there is a hesvv
demand for all agricultural machinery. All the
leading steel makers speak hopefully Of the fut-
ure but irrespective OF developments IN thar
quarter the pig iron situation has demonstrated
that il is on a sound basis and steadily II slow
~. improving
UNITED STATES STEEL--The United States
Steel Corporation. in order TO keep posted as TO
crop prospects, their course having a great Ir-
flueDce the demand for steel. fnstructs tia
agents in all parts Of the country 70 send in reg
cotton, etc Reports received TO date are more
encourag ging than received in any year since the
Steel Corporation was organized and bumper hsr-
anticipated steel manufacturers say
that in the event Of large crops there will a
no absence of activity on the part Of the rail-
roads in putting their cars in order TO handle ths
products of the agricultural districts.
MOVEMENT IN COTTON.--The Financial
Chronicle gives the total port receipts OF cotton
for the week ended June IS, 1908, 1856 bales.
against 1885 bales in the preceding week. max
tJ,a al fNf3 efVFa nuf6 6r7ho
sO56,218 bales. against 9.59S,5S5 bales for the
same period Of 19O5-07, showing decrease since
weather has been generally favorable during the
week. with only light or moderate rainfall The
Texas crop is reported to be doing well a rule.
though rain IS needed in the western part OF the
state and reports Of shedding have been received
from southern and southwestern districts
RANK CLEARINGS-"The Financial Carnn-
icIe" gives the total bank cearings OF the United
states for the week ended June p Zone day estt-
rnated) as S20S0,540,695, compared with $3.50.
1887 the preceding week and S2,575-958,643 for
the corresponding week OF 1907 Compared with
last wear the total clearfngs for the week de-
creased 1872 per cent New York decreased 16S
per cent. Baltimore 31-6 per cent, Philadelphia
rs 4 per cent and Boston 16S per cent
DIVIDENDS Observation-Disclosures have
been declared as follows: The Philadelphia Com
pany regular quarterly 11s per cent, payable Au-
gust I. American Brake Shoe and Foundry Com
1anv regular quarterly 1 per cent on the com
mon and "a per cent on the preferred. payable
June 80; Securities Company. regular senf-annuai
2Ia per cent, payable July 10
APPLICATION TO LIST.-Applicatton han
been made to the Stock Exchange TO list S1L7I2.-
600 additional consolidated mortgage bonds OF
the Manhattan Railway Company; Sl2,500000
METROPOLITAN Street Railway certificates OF de-
posit for general mortgage and collateral per
cent bonds and $4,000 additional consolidated
mortgage per cent bonds OF the Chicago & West
ern Indiana Railway Company.
ROYAL PRUSSIAN NOTE ISSUE-Zimner-
man & Forshay announce the issue OF i0o.000000
marks RoyaI Prussian treasury per cez< FIVE
year notes for which they are prepared 70 receive
subscriptions until July >, at the Official subscr1p-
tion price Of 994 and accrued interest. at which
figure the securities return as per cent a year