New-York tribune., 1909-05-25
TOPICS OF THE STREET.

FOREIGN TRADING-London bought 1900
shares the local market, with the heaviest deal
lngs In Steel common. In the London market
prices were firm, with strength in the mining de
partment. American stocks the curb closed
steady. Call money the British capital
higher, at IL per cent against three fourths of
per cent, last weeks closing, while short time
begins this week. and it is expected that settle
ment loans will be made al a higher rate than
recorded two weeks ago. The South African gold
offered in the open London market secured
by Austria. Despite the Continental demand for
the metal, the price of bar gold is lower. Cont
mental discounts were without important change
COPPER MARKET CONDITIONS-The demand
for copper continues fairly strong and producers
and selling agencies are predicting another pro
nounced buying movement within the next two
weeks. Electroytc copper IS selling on basis Of
1915 cents pound More copper has been sold TO
domestic consumers this month than in any other
month since January, 1907. Producers and selling
agencies are pressing copper for sale, believ-
Ing that before the close of next month they Will
be receiving close TO Il cents a pound for the
metal A heavy reduction in stocks this month Will
strengthen the situation materially.
HILL ROADS PROSPECTS.-As TO rumors of
increased dividend on Burlington stock, we'll
Informed interest said yesterday: The road could
well afford to make an increase if the directors
thought ii good policy to do The real impoT-
tant factor and the that underles the strength
in the Hil issues, is. however, that the business
OF the Northwest is going TO be bigger than ever
before ard that there VIII be enough to around.
even when the St Paul's extension becomes
a competitor to existing lines. Doubts were felt
time this point, ana the removal OF this
uncertainty is reflected in the Hill shares"
IACKAWANNA'S GOOD SHOWING.-The Deia-
ware Iackawanna & Western reports earnings for
the first quarter Of the current year. after all
penses charges taxes. of 81 aS57 an increase
Of more than 100 per cent the time a
year ago Last year the road made 20 Per cent
on its stock, and paid 10 stockholders % per cent.
In the last years the road practically has been
rebuilt. while enormous sums still are being eX
pended, which will materially lessen the running
time o. trains between New York and Buffalo.
CANADA AS A BORROWER--A cable from
London says that underwriting has just been COM
pIe5ed there q further Grand Trunk Pacific
per cent loan Of about ft000000 TO be issued 81
and guaranteed ny the provinces of Saskatchewan
Preliminary arrangements have been made for
new Dominion government loan. one says
that the amount will be E1.000.000
HEAVY BUYING or STEEL4-It is estimated
that sales Of finished steel products in the
month will be larger than in any preceding month
since October 1907. The United States Steel Cor
poration Is operating close to - per cent OF its
normal capacity
APPLICATION FOR RECEIVERS CERTIFT
CATES-The receiver Of the Chicago, Cincinnati *
Louisville Railroad has applied the for per
mission TO Issue $1,000 900 receivers certificates,
the proceeds % which TO be used for improve
ments and equipment. This is the road which
the Chesapeake q Ohio has been reported plan
ming to take over, with the object Of forming
trunk line between the Atlantis seahoard and the
great lakes.
DIVIDENDS DECLARED Dividends have been
declared a follows ChessbroCgh Building Com
pany regular semi-annGAI Si2 per cent, and Y Of
per cent extra payable May Es; York Manufactrr-
ing Company regular seni-arnual per cent. pay
able June l.