New-York tribune., 1910-10-07
TOPICS OF THE STREET.

FOREIGN TRADING.-Eoreign houses
( dealt in upward Of 1900 shares in the local
stock market, buying on balance.
NINE MONTHS FAILURE5.-The rec
ord OF failures, as Teporttd 10 r. G. Dun &
I Co for nine months OF 1910 reveals, in
some degree, the effects Of the trade re-
Cession which has been in progress during
most or the year, but otherwise exhibits
no especially abnormal feature. There were
s.a99 failures in the last nine months, as
compared with S,666 in 1903. 1886 in 1908,
$500 in 1907. z.9i7 in 1906, S,806 in 1905 and
9.1S3 in 19Oz- The number Of defaults was,
therefore. less than in 1909 and 1905 but
greater than in any other of the years
named. The total liabilities of the last
compared with SI613s.S1 in 1909; s179, ,67T 523
IN 1903. SIG 03k34S in 1907. SSA660.2S7 in 1905,
s76,254 02S in 1905 and slI165s,2 ,205 in 1904. II
failures for the nine months was less than
in 1909, the aggregate liabilities was much
greater.
COPPER SALES-The copper metal
market is strong on the basis OF 122zc for
eIeCtrolytic. Additional sales OF the metal
were made yesterday and the represent
ative Of one Of the largest producing and
selling interests IN the United states estl-
mated the transactions in the metal since
last Saturday at about 5o,o00,Ooo pounds
IRON ORE SHIPMENTS.-Accor to
The Iron Age" Lake Superior ore ship
meuts during September we're 6,2I3S2i gToss
tons, a falling OF Of approximately 700. .0oO
tons as compared with August Total ship
n1ents 70 October ! were 3, ,lg,S6i tons, an
Increase Of . 451.231 tons over the corre-
spending period OF last year
CALUMET AND HECL.A - Estimated
copper contents Of mineral produced py
Calumet and HeCla properties Tor SepteTn-
ba~ aggregated s. $40 $50 pounds, compared
with -062S lO6 pounds in August, a decrease
of 7S5,41 pounds, or IA per cent
have been declared as follows: The Brook
lyn City Railroad. regular quarterly z per
cent payable October l.; the Northern
Pacific Railway, regular quarterly ~ per
cent PAYABLE November :. and the United
States Rubber Company. regular quarterly
per cent on the first preferred ana II
per cent on the second pfeLerTeu' ydDle
October q.
NEW. STOCK EXCHANGE MEMBER
Ivan n. Taylor. Of the firm Of /. NJ. Taylor
& Co of Boston, has been elected mem
her OF the New York Stock Exchange.
PERE AdARQUETTE-At the annual
meeting Of the Pere Marquette Railroad
Frederick Il Prince, Of Boston: was elected
a director in place Of a. Patriarche
PERE MARQUETTE--The Pere Mar
quette Railroad Company reports for the
year ended June 90 with comparisons. as
follows:
ETp iaS and taSes T. s5I Is5 I5s s75 iosS III
Ss earnings 7ss 4of5Ess ;5s a!55.5s .55 80 2sse SO So
Total iuconle. . 4o7o9e7 s.7o9563 BEL I2s
Int and rent. 8,ol.-S4 a'5os elZ 1850 Ts5
e,,-,lys fs4e97I3 1851 1888 es7
sC-resit 4EqusI 90 81 per cent on s12. II. 800
r,referred stock. tDefcit
CANADIAN PACIFIC.-Referring to the
Increase from per cent 10 per cent in
the dividend rate on ule common stock
SV.sc6 rhe Canadian Pacific Railway made
last August and the I per cent dividend
Gut of interest on land sale proceeds, the
president of the company in his report to
the stockholders says.
Your directors are aware OF the feeling
among the stockholders that. taking into
accor1+ rbe income and financial position
of th, company, this is scarcely sufficient:
and if last years returns be taken as
basis that feeling is not without Reason
able foupdarion But We must not lose
sight OF the fact that conditions may not
always be- so favorable; that we may have
lean years and that in such contingency
q large cash reserve VIII be a source Of
convenience and strength. Apart from
your surplus, you have eXtrsneous assets
and deferred pavments or land mortgages. .
cash proceeds OF land sales and other Items
of like character IA process or realization