New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1910-08-05
TOPICS OF THE STREET.

FOREIGN TRADING. - Foreign houses
dealt in upward of 10000 shares in the local
stock market, with sales and purchases
about evenly divided.
NORTHERN PACIFIC.-There appears
to be no chance of reduction in the divi-
dend on Northern Pacific stock. according
to persons we'll informed regarding the at
fairs of the property. The companys chief
trouble Is in the stock market, owing TO
the huge volume of its undigeSted stock
In the early part of 1907 directors approved
the issuance of 100000 capital stock. This
was an increase i'll stock of exactly 60 per
cent This stock was in process or being
paid for for two years, ard came on the
security market when investment channels
were gorged with unasSimilated Securit1es-
Furthermore its bulk was so huge-only
little less than l0O,0C0.0tO-that there mas
heen no real period of protracted recovery
sufficient finally TO tuck 1t away in IN
vestorS' hands.
FRISCO EQUIPMENT NOTES.-Speyer
& Co have purchased from the ST. Louis
e San Francisco Railroad S1.450,G0 D per
cent equipment notes. series q. secured by
equipment costing about s1.G7,0o0. toward
which the railroad company pays in cash
about s1670J0 and will issue its equipment
notes for the balance. S.4O.GO1- The notes
are to be dated August L. 1910. and VIII ma
ture in twenty annual Observation-Disclosures
on February / in each year and $4,000 on
August | in each year until payment is
completed. The Central Trust Company OF
New York is the trustee
BROOKLYN RAPID TRANSlT.-BrOoh-
lyn Rapid Transit wound up July with Il
much better gain in gross than at one point
of the month seemed proba bic The gain
was S13SOO0 or almost $3.50 day This
compsres with a June increase of $4,000 and
a Nav gain of $1,000 and is close to the
March record of $4,000 increase IN gross
receipts July was the frSt month OF the
current fiscal wear and the directors are
confident that for the full year gross VIII
get above s23OO10G0 or. in other words, that
the increase of 81 i25. 600 shown in the 1909 10
fscaI year will be eqralled and possibly
exceeded 1t was only four years ago tnat
r r r gross was considerably under S19.
900 900.
UTAH COPPER REPORT--The Utah
Copper Company reports for the quarter
ended June 80 total net profits of S1.5iS.9i9.
consisting of s1,lSs 1872 from mining and
milling operations, $50 from ,oo rents ana
idends from the Nevada Consolidated Com
pany. The Utah company paid out in divi-
dends in the quarter 81 ,lo2'zai. leaving net
surplus for that period of 1898. $50. The av-
crage price OF copper upon which the above
earnings were based was 121a cents pound.
against 13. SO cents q pound IN the preceding
quarter.
THE COPPER MARkET.-Good buying
of copper from domestic consumers contin-
ues. with the metal strong AT l29s cents a
pound In some cases sales have been made
rs high as f22, cents pound The Copper
Producers tigureS for July. to be made
public on August 10. are keepins many
consumers out of the market They expect
a further increase in stocks ana believe
that this increase will prevent further rise
in metal prices. The large sales in July
and early this month will not be reflected
in the July statement. the sales came In
too late to begin deliveries last month.
CLOVER LEAF DINIDEND.-The di-
rectors of the Toledo St. Louis x Western
| will meet early in September and Will prob
| ably bet on the preferred dividend. The
stock has been paying per cent yeal
since 1897 Because of the recent diScon-
tinuanCe of dividends on Alton common. 81
| which the Glover Leaf II large holder
| there has been some talk of similar actor
| that the stock has sold down to d point
where II Yields nearly 70 per cent. But TN
! usual quarterly ] per cent is expected to q,
/ declared at the next meeting.
! SUGAR TRADE. CONDITIONS-Th
| Federal Sugar Refining Company has re
| duced It's list price for standard Sranulate,
! to aOl cents, less per cent The Warne
! for barrels and bags, bulk. on the basis q
/ SO cents for prompt shipment. All othe
retIners are still quoting 5I5 cents. less
per cent for cash.
| LEHIGH VALLEY.-The Iehigh Vale.
! second mortgage { per cent bonds OF 1870
| which mature on September |. will be pal,
| In cash \ portion of the proceeds of IN,
| recent stock issue VIII be used FOR the pur
! pose.
| NEW STOCK EXCHANGE MEMBERS
| Thomas e. Eastman and Douglas II
| Hartshorne have been elected members o
| the New York Stock Exchange
| DIVIDENDS DECLARED. - Dividend
| have been declared as follows: The Me
| chanics and Metals National Bank quarter
| ~ per cent. payable August 10: Champion
Copper Company. 81. payable to-day.
receive by the Mauretania Sl,9lo,N0 gol
from London