New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1909-09-03
TOPICS OF THE STREET

hhales, .,,ls paris demand was rerorfed Tor ms
,ss,e but the Street had a suspicion that the
-. originated on this side OF the water for effect
- ,,rices In the London market prices were
s-n on an inactive speculation. Call money at the
,,.I,isb capital was easy throughout the day. while
Ionrts were a rifle frmer as a result Of the
es.i;re IN tho Paris cheque on London and n re-
oyred French demand for gold. The Bank OF
england made no change IN It's minimum rate OF
pANK CIEARINGS.-Total bank exchanges for
he month OF August. according TO the statement
s.snsd by r. @. Dun & Co. including all cities IN
.bs United States and embracing JIG leading cen
80. were a3 4457OSs 42 an increase OF 3l4 per cent
compared with the corresponding month last year
I'd OF 81 per cent compared with 1856 Practi-
rsIv every city contributed 60 the Increase over
las, year and where there Was loss IL was in
significant, but IN the comparison with 1905 the
-s;r IN total due 10 the larger returns
s.on cities outside New York for although
hsnres 1T that centre this year very large.
tho phenomenally large Stock Exchange operations
n August, 1905. created such heavy total that
fhere small loss. In New England nearly az
stles report gains over last year, and most Of
,sen over 1906, notably Boston. Hartford Worces-
a. snd New Haven. The cities IN the Middle
ssa,es provide increases compared with last year.
mt At Philadelphia and Pittsburg there arc stiil
iasses in the comparison with 1895. rejecting CON
ssious the iron trade. Very satisfactory gains
-. shown a cities In the South Aflanuc States,
srs a Baltimore. Richmond. Atlanta, Augusta
Tsseon and Jacksonville the large increases over
~ testify 20 tho prosperous conditions noH rus
az IN that section. In the Middle South bank
slarings are very large and at most cities there
fr substantial increases compared with an prev
aus years, among them being 81. Louis. Memphis,
nashville Knoxville. Houston. Fort Worth. Beau
mont and LATHE Rock. At almost All clues IN llt
Central West exchanges ere far IN excess Of any
previous year. and IN the few instances who're
there are losses they are very insignificant The
most conspicuous increases are at Chicago. Mil
waukee, indianapolis. Cleveland. Detroit Nourh-
bus and Canton. In the Par West exchanges arc
very large. and at Kansas City, 81. Paul Des
Moines omaha St Joseph and Denver they Tar
exceed those OF the corresponding period in any
previous year on the Pacific slope gains are
general over last wear but i'm the comparison With
1es there are heavy losses At San Francisco. ""-
ing 10 conditions following the IRE ID thal "a
AUGUST FAILURES AND LIABILITIES
There were only $50 business failures reported 10
Jsradstreets for the fun calendar month ~ August
the Smallest number reported In any month ms
.ear ana the IC,test total fact. reported since
September, 1897. nearly two years ago. Compared
vrstb August = wear aCo the decrease s. over -
Ter cent but there - Per cent more sus-
pensions than In August, 1907. and In only FOUR OUT
of the last sixteen years were there more failures
in August than were reported this year. The ma
tiIities reported IN August aggregated Ss3es4Zs.
fofal slightly larger than that OF JULY but With this
excerticn the smallest aggregate ~ hahiHties re-
ported in any month since september lto'. II ~
also worth noting that the liabilities this year In
August were only one-tlird those o. August year
ago 10 per less than I'm August 1907, and less
ihan haf those OF August 1906
STEEL PRICES ADTANCED.-The tendency ~
rteel prices continues upward, and several Of TIE
independent companies have advanced the rrloe
al bars and structural steel from 81 80 20 81 -
hundred pounds For immediate delivery sales
have been made Sc high as s. 30 a hundred pounds
A wear ago plates and structural material were
selling on . basis Of 81 60 a hundred pounds 50
shat the present price IS only about So ton below
what r. WIS in September 1908. Bessener iron
In Pittsnulg has been advanced another 25c a ton
aud II getting scarce. The demand Tor material
Cor immediate delivery heavier than Il has teen
ct any previous time an two years.
NEW RECORD FOR BANKNOTES -- Tie .
Fnonthiv statement Of the Controller q tho Cur .
rency shows that in August the country's Supply
81 bafknote currency Increased ss,4sleoo 70 Eoss-
$4,000. a new high record total OF the countr7's
history. Uutil last month the record had been
s6gS sf9 600, established June last year since
the opening 81 February however. when the coun-
tive circulating supply 81 hanluotes was $780,
So 600 there has been a steady increase. The
pmaunt 81 bond secured circulation taken out
81 August Was s4755.o0o. there being partial
offset 10 this addition in reduction q sL265.0je
IN the circulation secured ny deposits OF lawful !
money.
UNITED STATES STEEL EARNINGs.-"The
Daily Iron Trade Review" says: a keen observer
~ the United States Steel Corporations opera
lions who has exceptional opportunities for ac-
uuaintinC himself with its business. IrOphesies
that the business OF that company for the coming
year will amount TO close TO 3l0s1 90 600.
increase ~ q per cent over the best years busl-
IN the history % the corporation. THIS. ac-
oordnG its annual reports was in 1907. when
The business or the corporation reached the I'M
mense total Of s157.oi500. comparing with tfs-,-
s&.0g IN 1913 Because az the high standing ~
She who makes this prediction and because
q 10 iu harmony with Information,
indorse il and express opinion that the bust
ness OF the corporation Tor 1910 viii amount 10
= CENTRAL LEATHER.-The offer 81 So a share
which tic Central Leather Company has made 10
stockholders
States Leather Company, owning about 10000 shares
viii IN wise change the plans which the James
,. Colgate a Co. Interests have IN mind 60 secure
what they consider equitable consideration for
their stock. These Interests are now preparing the
legal papers, and ia q few days VIII ask the New
Jersey courts for temporary Injunction restrain
;ng The merger. The case win then come UP FOR
trial, and the minority stockholders win seek 90
have the temporary injunction made permanent
DIVIDENDS DECLARED. Dividends have been
declared follows: General Chemical Company.
regular quarterly IL per cent on he preferred
payable October I. North American company,
regular quarterly Ia per cent payable on October l.
d. Louis 4 San FRANCISCO. regular quarterly l1e
per cent The preferred trust certificates Issued
against Chicago A. Eastern Illinois stock payable
on October 4; North Star Mines COMPANY, : per cet
payable September &C.. New York LackaWanna
q western, IA per cent payable on october J.
Newark bloomfield Railroad, seul-annua . Der
cent payable october j, Warren Railroad.
Eemi-anuual "a per cent. payable on October lb5
American Car and Foundry Company, regular quar-
ieriy ~ per cent the preferred snd = OF yer
cent on tho common, payable on october J. b5uih-
ION Iron and Steel Company. per cent on tne pre-
ierrec. payable October j.
CALUMET AND HEcI.A DIVIDEND UP
INC directors 81 the Calumet and Hecla Copper
company have declared quarterly dividend OF
~ 8 share, an increase Of s. over the last proceed
lng payment IN view or the unsettled condition
~ tho copper industry an increase az this time
was not expected. The company has paid a total
OF nearly Slle0oOo0 IN dividends since organization
on rs 5000 shares. pay value s25 share Us
Droouction ln 1905 amounted to s26s7yH pounds The
cost a production r. generally estimates - ~
cents pound.
HIGH RECORD FOR LEHIGH VABLET.-In .
The Philadelphia market yesterday Lehgh valley
stock advanced 20 g2. the highest price tho stock
ever sold az. The preceding high record price was
ses, IN November 1905.
CONSOLIDATED EXCHANGE TO CLOSE /
VIII the exception OF the grain department, the 1
consolidated Exchange VIII be closed for business I
tO-rnOrrOv.