New-York tribune., 1910-06-25
TOPICS OF THE STREET.

FOREIGN TRADING.-Foreign houses
were not active in the local STOCK TaAce nia,
selling upward OF R'VV shaLeo --o-,+t,- On -
THE RAILROAD BILL--In their month
ly circular the banking house OF Jonh 4 70.
Davis & Co. says Of the railroad Dir.
railroad wishes to advance an tit es ioIv
a rate as he can get 1t would be un1alr
for the railroad to be the judge or reaSon%a- %
be9sss 3 for Its R0Si sither Is Should the ship
ner he the Judge; therefore, the rate Is Suo
United to the Interstate Commerce CoIllInio
sion, an independent, educated I colip +ats
hodv of men Its Investigations might Iahe
a few hours, or days. If the reasonaDie-
ness of the rate is involved these @ exainltia tsn
tions may-not muSt-extend over teH
months at the maximum. The majority U
cases will doubtless be decided IN sIuIe
order; then an appeal may pc TAKEN 10 lii Iii
new Commerce Court, and tnls pody VII VII
yerv soon become expert, dealing Wltn oniy
one branch of the law. Here 1s proVioeI9, q
second Independent, educated body or uss
Interested men to pass on a question OF
reasonablen to arbitrate, II you please,
vexed questions. After that is the maj
States. which is directed by the new Dlll
to give such cases preference das any
thing fairer to all interests ever Deen oL
fered to the railroads and the Shippers Oh
this country? We consider IL to be inValu-
able to railroad men and holders OF rall-
road securities, for stable ana reasonaD,t
rates are thereby assured, and that is What
every man recognizes as fndispensaoie 20
general business, railroad prosperity anu
Great country Temporary political ex-
pedients, possible development of socialism
and the multitude Of quack remedies during
stress of hard times will under TINS Jaw
be. powerless to embarrass the right of the
corporation to charge a reasonable sum fof
services performed
BANKS GAIN CASH-The reported
movements of currency this week indicate
gain in cash held by the banks or sl,-
101 900 A moderate gain from the Inte-
rior was drawn down by the loss on SUP,
IT. No received
from the interior ss.704.000 and shipped
into the interior s6.024.oO0. including
ngton HystogV as'G for exemption, @ The gain from
the interior was s2,6sO,00O Receipts OF
new gold were ,140.000-namely, on New
York Assay Office checks 81 224,0 600. on
San Francisco Mint checks sS2S.000. and
on Seattle Assay Office checks SSS,OO0
ordinary disbu1sements Sc ne6 BY the Sub;TreaSs as
banks to the Sub-Treasury for customs,
internal revenue. per cent redemption
ing a loss on Sub-Treasury operations
proper of So, ,169. 900. The total gain from
the interior and by new gold was S4,S2O.-
900. Deducting the loss on Sub-Treasury
banks was s.. .651, 900
COPPER TRADE CONDITIONS.-The
tone of the copper market was shade
easier yesterday. and small sales were re-
ported below 1914 cents for electrolytic.
The failure of foreign interests to take
large blocks of copper and the expected in
crease in stocks on hand in this country
this month are responsible for the indif-
ference Of consumers Based on imports
and exports of copper so far this month,
1t looks as though stocks on hand in this
country would show an increase Of IS, ,000.-
900 pounds or more in the current month.
Domestic deliveries will have to reach 75.-
000, 900 100000 pounds in order to
Offset an increase in stocks. It is well
known that deliveries were nowhere near
70 900, 600 pounds, so that the conclusion
arrived at by consumers is that there will
be further increase in stocks on hand.
HOLIDAY FOR CONSOLIDATED THE
governors of the Consolidated Stock Ex-
change have voted to close the exchange
on July 2, thus giving the members a
three-day holiday.
DIVIDENDS DECLARED. - Dividends
have been declared follows: Continental
Paper Bag Company, regular quarterly IL
per cent ON the common and preferred, pay
able June Is; American Chicle Company,
regular monthly l per cent and regular BIZ
monthly extra l per cent on the common,
payable July 20, and regular quarterly IL
per cent on the preferred, payable July |;
Tonopah Mining Company of Nevada. reg
ular quarterly % cents and an extra Is
Bank. regular quarterly per cent, payable
July l; United States Mortgage and Trust
Company. quarterly 8 per cent, payable
June So
GRAIN EXPORTS FOR THE WEEK.
Bradstreet's reports the exports of grain
for the week. with comparisons, figures in
| 17O5,545, against 1.663.5O7 last week and l.
| 6OO.S42 in this week last year. Fiscal year,
/ al ,04l UZ4, cOntraSleO WIN lb5,4obSZI In the
| corresponding period of 1909. Corn 1ss. .S27
compared with 13S.0l5 last week and 81
| 333 in the same week last year; for the
| fiscal year, 27.S29.S1i against 29O64 1868 in
/ this period last year.
| WELLS. FARGO & co. DIVIDEND
/ Wells, Fargo & Co. have declared the regu-
| lar semi annual dividend of per cent pay
| able July 15 to stock of record July l. This
| is the first dividend declared since the in
/ crease of capital. in February last from SS-
900 to S2t, eco eco, and is at the same rate
| as paid on the smaller capitalization
| APPLICATION TO INSTRUMENTATION
| has been made to the New York Stock
! Exchange by the New York State Railways
/ TO list So, 2,500 preferred stock and by the
| Western Electric Company to list $3.50 900
first mortgage per cent bonds due in
| 1922.
| USUAL WABASH DEBENTURES A
/ AND 3 DINIDENDS.-The Wabash Rail-
road Company has declared the usual semi
annual dividends of per cent on it's de-
! bentuTe and per cent on it's debenture
| B stocks. payable July 1 to holders of rec
| ord June 80.
| COPPER E%PORTS.-Exports of copper
| for the week ended June % were 45S0 tons.
Since June ] they have been 15.l5S tons.
| against 29.021 in the same time last year.
FOREIGN FINANCIAL.