New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1909-08-03
TOPICS OF THE STREET

FOREIGN TRADE--FOreign houses were Hoi
factors in the local stock market. owing 70 es
bank holiday at London. Recent cane als.--s
from the British capital Indicate growing llsi's'
abroad in American securities on speculative q
count and fair market for bonds for invsSlns.-
There were no movements OF Importance % y,
Continental bOurses and no material cnansss =
monetary conditions at Paris and Berlin.
BANKERS SEE PROSPERITT.-In their Als-'
bulletin Fisk & Robinson among otner tlnss -.
Our business equilibrium has been TeStoFed y :
brief a period by reason OF the wonderful Nos.s
we have made in the development or s-O-e -
stable business organizations OF all AhGs. -
reason OF that accumulation OF large. ssA-S-s
ing wealth which has removed the Jnilea -
still further from the position OF OOrl0Nms.-
ton. IT, therefore. We escape thOse reacuo.s 4
IN previous depressiOns seriously 0iStlf09u
earlier stages OF recovery, IL IS reasonably -.
THAI the near future will record expansion -,
commercial and industrial life 10 an extent d an
a prudence heretofore unknown. one OF ule 49,
uppermost in the mind OF the national o alH
Gals to-day is how best TO adjust the so'o--.s,
bond account to meet with as little loss as 49,
the'efect of new legislation. In view OF 1lo -
hood OF a S per cent issue. the almost IMAM. -
decision OF banks not to retire clrculat.oA = n.
rent prices for bonds is quite remarkable ~ h
basis Of the present tax on circulation secll' -,
5 and IS. which is p per cent and 20 -.
respectively. per annum, there Is rei4.' !, t.rr
ence in value OF substantially per cen. p 80
of the latter. assuming ten-year maturity =. RI
~ would be necessary entirely 70 remove 90. -sss
on ejaculation secured by tsn-year 5 % - y
that the same profit might be realized As 80
obtained from tsn-year per cent ooAu' 49,
circulation tax of : per cent per annuAA -,
fore. TIE determination by banks 20 re1aln ~
cent bonds purchased at much higher pie. y
At an average OF 105 even with the possi1-.,.--
further loss confronting them. can os 49, 80
only on the ground Of their CONCLUSION -, 49,
legislation covering the authorization OF -
rate bonds must be on basis 10 MAINTAIN w
Of outstanding issues at not less than par -,
f-lc3k4
exchanges IN July totalled N175.s65.l0- an 1900
of 1LS per cent compared with the corfesgs..s
period year ago. and with bur Two sAceg- ~
months exhibit was the largest OF l.le 49, a.
June showing exceeded the current figures ol
154,61i. and the month OF May surpassel ., IS
S26.SS6.604 In seven months ended Js-ts,-,'ss a
year Chicago banks have cleared S's.,'' 100
increase OF s.. 30S 402 5S4. or III per cent -,
with the same time last year IN tns - f-,s
months OF 1907 which was before ne - =. sscss
clearings aggregated s.. 2Ss. 6SSso2 IhuS y $500,
that business has been larger than ~ y. - vss
times. when trade conditions OF tas 0'1'
being conducted on normal lines 80 "a
NEVADA CONSOLIDATED REPOF.--. N.- ID
vada Consolidated Copper COMPANY Iep'' ~ a.
quarter ended June 80 last as Iol.o. . r.rtss a.
inss from operation S51A945, interest,", -sessi
miscellaneous earnings &5o9; divl1s- - 80 9
and estimated dividends accrued, SlS Ss 'outsfs1
come S639 245; interest accrued On - 49, sIi-.A
ing S443e5: net surplus and pront az srrcuas
The production OF copper for ths 0u--
to s.721. 7SS pounds. .,-vpOrryT o.
CHESAPEAKE & OHIO EQC - 1 l-,~nar cs-
DERS-In addition to the 1@o stsS - a1d so
-s~sti,, or5srsd fron1 the American Car - -,scsi
dry Company. the chesapeake 4 ono .,s ryps. 3.
orders for 5000 more cars OF the -. - al bull
which the Standard Steel Car Cohlpe-Sv fesa
2OOO and the Pressed Steel Car COilF ..- ar -
COPPER EXPORTS Exports OF 800 uiih .
month OF July were S6.0iS tons. con, ~ rEsit
80 in the same time last year -. metal
months ended June 80 exports OF - H.,,s 10 -
Guiding manufactures amounted ~ Sefors
' G1S,1 SSn,nSs 1 pSECCI4SREDDtydauas sa,' ~
declared as follows: Minneapolis 81 sert On G.
ste Marie. regular semt-annuai SES.-rsa 49,
common ana So per cent On'the pFe., "a 4 shas.s
october Is: Champion Mining Coilll,t & %
v,aktng IS so far this year. asains,s rs. s,lArts'
CrinpIe creek Central Railroad. Ies s..,.rn per
4 per cent on the preferred payaole .~T.-ss SO
NEW YORK CENTRAL'S EAFNlN