New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1909-05-07
TOPICS OF THE STREET.

,rTNC- Foreign houses dealt N
,o-ss sn the local market seIIihe 30 ~,
45oeo- Ia London consols were heavy "hiie
On palaICs, market was dull and firm at unlih-
ne. - nice changes Money was easy az - -
Eoss on the Continent While farls
eoA 60 -~.-,s, rapital again showed a WtdN ~
O. me p. D., rarl- of England made no change IN
CENT - rate Of discount, ana pFeseH'eu
~ of reserve TO liability OF $50, .
r. 49, 2 week ago but upward OF pei
- ,bsn an eiEht-year average 10. '1.l9 -.
betAeI - .v-o--s 20 Russia and AuStrla were
LsIse s Tor a loss in bullion Of fl'ooo'OoV:
[tL FsirIy- balanced the drop In reserve u
fll60.0oe.
t,ry,raN-y-S NEW LOANS--The arrangements
-, ce--,a-,-s big loan operation, according 10
s1 o-5o- -i-,es have been completed, no less
- t9oo eco eco sterling being required by the
s-nire and Prussia between them subscribers
Iii he offered their choice between IS at lo-'V
80 az per cent bonds al 1850 Among as
[,.is, unified led april pa the list at IVA z,
rC1snish eS Hungarian 94i2, japanese Sv-z ana
-2-sziian t1SSql So. At the same time, although
- ,rice Of call loans in Berlin had dropped 10
IL ns- cent il was difficult 10 place money at all;
"a rress,Ire in the bill market had increased, ana
81. omen discount market rate had recedeC 10 =
Ter cent In this connection The LONDON hcoho-
-,;s-- romments: Yesterday afternoon the new
s-,,sr3a1 and Pr1lssiau loans. fOreshadOwed by US
some time ago. were announced and produced
auife sensation proving as they do, the olSinaI
condition OF Gerrnanys finances ana the superior
.-v Of ats fiscal system" Somewhat less than a
century ago-I7sS-the English IS had fallen 10
a The actual gold now held in Germany in
circulation" (sSe7 100000 or boarded is vastly
IN excess Of that held in the United Kingdom
(ssO2 0UDl. Germany and the United States
alone have total stock Of over billion each.
VULCAN DEFINING REPORT.-The Vulcan
DEFINING Company reports for the year ended
March 81 ret profits Of Ss26e. increase Of Sill
ssf and surplus after dividends Of S25S6e The in
crease il net profits was due mainly 10 the extern
sons and improvements made in the year in the
company defining plants and the greater amount
Of business accomplished thereby: also TO the opera
ton Of the iron foundry plant purchased In June
1905 from the Empire Iron and Metal Company, al
sewaren y. ]. where part Of the scrap product
Of the defining plant Is converted INTO SASH
weights and other manufactures Of iron.
COPPER PRICES HIGHFR-The local Metal
Exchange quotes copper &c higher in the asked price
al grades Lake is l27sGI31s: electrolytic I2lza
12, and casting, 12zsGi2as. The actual market for
copper is distinctly frner- The United Metals Sell
ing Company is said to be selling copper at close
70 g cents The highest level touched in the cur
rent upward movement Sales are being made for
delivery as far forward next July. The stocks
OF copper carried by thu United Metals Selling Com
pany are said te be lower than they have been in
year The demand for copper IS coming largely from
domestic consumers. although large sales are being
made for export Producers believe that electro
lytc copper viii sell above 3 cents within the next
few days
AMERICAN SMELLING AND REFINING
Edward Brush vice-president OF the American
Smelling and Refnig Company. is quoted as say
o. per cent year the $50. $500 common stock
The improvement in the company's showing IS due
largely TO the increased demands for lead from
ne electrical manufacturers The National Lead
Company, one Of the best customers Of the Ameri-
can Smelling and Refining Company. IS buying
from The latter much pig lead II did prior TO
NE panic. and the Pennsylvania Railroad has Just
placed order with the company for 10000
pounds OF copper and 60 tons Of pig lead in
me construction Of lis terminal. The Smelling
company has no surplus lead hand. and II Is
looking FOR new sources Of supply which II expects
70 md as z consequence Of the increased activity
q silver, Of which lead is important by-product
READING DIVIDEND-A Wall Street report
yesterday stated that it was understood among
ne large owners Of Reading that the dividend on
me common stock soon would be advanced from 4
10 per cent a year
DIVIDENDS Observation-Disclosures have been
cared as follows: National Copper Bank. quar-
erly per cent. payable Nav Is: American Tele-
sIsph and Gable Company, regular quarterly IL
per cent.
SEATTLE BONDS SOLD-Spencer Trask & Co.
announce that they have sold to investors the en-
ure Issue Of S2250G90 city OF Seattle Cedar River
water supply per cent bonds
NEW STOCK EXCHANGE MEMBERS. Vic
ror Onatlvia, jr.. Howard Boulton and Frederick
= Meserve were elected members Of the New York
hlock Exchange yesterday.
DUPONT CLARKE A DIRECTOR-Dumont
N1arke. president Of the American Exchange Ma
EOnai Bank, has been elected a director OF the At
Is Portland Cement Company, as successor 10 the
ste Jose F. De Navarro