New-York tribune., 1909-09-04
NOTICE.
TOPICS OF THE STREET.

TOPICS OF THE STREET.
FOREIGN TRADING. Foreign houses dealt IN
N Ooa shares I'm the local market. buying few hun
dred shares ON balance In the London msrksT
American shares were irregular with some strength
In Union Pacific and United states steer common
ConsoIs were unchanged. The copper issues and
the general mining department were heavy Can
money at the British capital was easy win no IN
dicaton OF higher rates IN the course OF Ils ne1c
few weeks Discounts we're lower AZ Lot'oon and
unchanged az Continental centres
BANKS LOSE CASH-The reported movements
OF currency this eek indicate loss IN easn neid
b,, the hanks Of $4,000 They lost SeeoeO 20 ths
Treasury and 81. .09ofs9 10 the interior Ths
hanks received from the interior So'osl.ts ana
shipped TO the Interior ss5s00o. including $'oo5ea
national bank notes sent 10 Washington tor re-
dennntion The loss 70 the interior was Nif"s9.
Receipts Of new gold were sReoOvt0 hainsiy' On
New York assay office checks, SlSfsV''f on san
Erancisco mint checks $4,000. and on Sea1tls
ASSAY office checks. S331.010- Ordinary olsourss-
ments by the Sub-Treasury were sl5-z'8,-.s- Fay
rnents bv the banks to the SuO-Ireasury ror Gus
torns internal revenue. per cent redemption fund.
etc were s24 5000 showing loss on SUD reasdrY
operations proper Of s510eo- me ne 90 a. s. oss on
Sub-Treasury operations proper ana 20 the leerlor
Was 10000 Deducting therefrom the gain oy new
gold the loss was Si.oo.oe"
METAL DfvIDENDS.-Through dividend r.
,ort- made 70 The Mining World il Is apparent
that the metal mines are gradually returning 70
their normal profit earning status as a result Ot
the improved demand for their various produces.
In the eight months ended with August dividends
amounting 70 large total OF Sil4slo54 were pad
BY ninety-eight American mines ana ne1alIuEs'cai
works Since their incorporation these hileesssht
properties have yielded the enormous sum OF sS5-
ll9SN IN dividends an issued capitalization *
s4e- 7451s7 a return equivalent 70 10 per cent
Large as this amount is, IL does not include ms
dividends declared by securities holding corpora
tons metal selling compahieseand other orsanlza-
tions that derive great pecunlary oeent from tne
mining and uetalIurgicaI industry. For the last
eight months dividends aggregating ss+Ss.'So hass
been paid by nine securities ho1dlns COZ
making total Of sS6.+5SO46 since tneir .oi iil1o-'
an excellent showing their issued capitalization
OF $50 $4,000 return OF 81 per cent
COPPER MARKET -Electr2lyto
Gamer was reported have been sold IN small lots
Yesterday as low 13c a pound, although trans
actions for delivery in December were made on
basis of l31sc a pound The United Metals selling
Company continues quote copper al l3tsc a pound
One of the largest producers OF copper IN the cou-
try states that copper conSuihPtIoh - NV - ~
ming equal production He nGures that wl'nIn
the next six months the demand Will exceed the
supply. which means that substantial redHcton
in stocks be looked for before sPrIhs o. EeA~
year. Exports OF copper for the week ended Sep
tember were AIS cons
GRAIN EXPORTS FOR THE WEEk-BTat-
s-reats reports the exports Of grain for the week
with comparisons figures in bushels. as follows:
Wheat -four included 3.lsS,6il against 2Si0a5 las!
week and 5396O26 in this week last year; nscal
year I7a6 s46. compared with So6s60l2 N the cor
responding period in 1905 Corn HISS contraSled
with ss6Os last week and 4e,C5i in this week last
year: fiscal year. co. 4S1 compared with i'+6sS n
the period last year
APPLICATIONS TO LIST.-ApplicatiOn has been
made TO the New York Stock Exchange by the fol-
lowing companies to list securities: The Equtaoie
Trust Company S5.6s54oo deposit receipts for capi-
tai stock of the Western Maryland Railroad Con-
pany and S,OO0OG0 purchase warrants for COM
mon stock under the proposed REORGANIZATION %
the Western MARYLAND Railroad Company; tha
Western Maryland Railroad Company. S225.a0a ad-
ditonal first mortgage per cent bonds or 49,.
and the Chicago. Rock Island & Pacinc Railway
Company. 1,iS4,0O additional reIuiiuIIS Hlo''s35S
per cent OF 1884
TO REFORM FOREIGN EXCHANGE METH
ODS-A letter has been sent 70 all the local banks
and bankers dealing in foreign exchange by John
E. Gardin, vice-president Of the National city
Bank. calling a meeting for Ihursday next 1oT ths
purpose of considering the adVlSablIlty OF REFORMS
ing current methods OF foreign exchange trans
1t is proposed TO have all foreign EXCHANGE
operations placed upon cash basis, instead Or ina
present system, which permits payment being uads
after delivery. IL is understood that otheT mat
ters relating to the present manner OF operating IN
the exchange market and dealing with brokers VIII
up for discussion The meeting Will De he'd
at the National City Bank
ROCK ISLAND EARNINGs-Ths combined
earnings of all the lines included IN the Rock
Island system for July establish a new record
for that month regards both gross and net Inc
best feature Of the report is the showing n net
earnings which after expenses and taxes, amount
e $. 2.S227S2. Increase Of SS+.+i1. A-+ per
cent as compared with July OF last year ard
gain OF S6O,4Sl. 247 per cent. over the sa1e
month in 1897 Gross earnings gained SS7S.I2 =
Is per cent. over the same month the previous
year. and S12.256 II per cent. over 1SO7-
BORDEN'S CONDENSED MILK STOCK--Ic 5
announced that the entire amount OF The new
common stock OF Borden'S Condensed MIX COM
pany. recently offered % the stockholders a. par
has been subscribed for The total amount y Jhs
issue authorized 100000. o. which S-1noo'S
was offered TO the stockholders. After paying II
all Indebtedness with the proceeds OF the sale Jhs
company will have cash working balance *
S2.5O0Ooo.
DIVIDENDS Observation-Disclosures have been
declared follows: Guggenheim Exploration COM
pany. regular quarterly ei2 per cent PAYABLE n
October l; St Joseph. South Bend & southern
Railroad. regular seTni-annUal eIa per TIE
preferred and Oue-half OF per the
mon. payable on September Is: Chicago. BUvlnS-
ton & Quincy. regular quarterly e~per cent. pay
able on October /
lNTERBOROCGH RAPID TRANSITS QCAs-
TER.-FOr the quarter ended June 50 the n
terhOrOugh Rapid Transit Company reports groSs
earnings OF S,Sl6S0. an increase OF SSSSS. ard
net earnings OF $1.5+0.l+S. increase OF so55S5
GOLD FOR JAPAN-The Yokohama Specie
Bank transferred yesterday through the local
SUb-Treasury $4,000 in gold 10 San Francisco.
The geld will be forwarded Japan
AMERICAN TEL EPHONE AND ELEGFAPFI.
More than S2,onOo0 OF the Sl5o.oso.Ooo American
Telephone and Telegraph cOnvertbls bonds havs
been presented for conversion.