New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1910-06-18
TOPICS OF THE STREET.

FOREIGN TRADING Foreign houses
dealt IN less than LOCO shares N me local
stock market. The difference between wee =
to make arbitrage trading profitable
BANKS GAIN CAsH-The reported
movements of currency this week indicate
000, considerably more than half of it com
ing from the interior. me banks recelEeq
from the interior $10175,000, and shippea
into the interior S., 463, 900 including $2,573,-
interior was S4,712, 900. Receipts Of new
assay once checks, $1.642. 900; on san Fran
cisco mint checks, 81, 106. GOO, and on Seattle
assay Office checks $l9, ooC. Ordinary as
bursements by the Sub-Treasury were s23,
Go, 000. Payments by the banks TO the
Sub Treasury for customs, internal revenue,
Z per cent redemption fund, etc. amounted
70 SIS, 200, showing a loss on S119-
Treasury operations proper of SS98.00o. The
total gain from the interior and by new
gold was $7,479,000. Deducting the loss o.
Sub-Treasury operations proper the net
gain by the banks was $6,oSl,0c0.
DIVIDENDS DECLARED. - Dividends
have been declared as follows; STANDARD
Gas Light Company, regular semi, annual e
8 per cent on the preferred, payable June
80; Old Dominion Steamship Company
semi -annual per cent, payable July L,
ANA lgamated Asbestos Corporation, regu-
lar quarterly IL per cent on the preferred.
PAYABLE July / American Cities RallWay
4, Light COMPANY. regular quarterly IL
Per cent on the preferred and semi annual
10 per cent on the common, both PAYABLE
nuai s per ceat, payable July l: Long lSland
Loan & Trust Company. quarterly 5 per
cent. payable July Liberty National
Bank regular quarterly per cent, pay
able July l
STANDARD OIL-0ne branch Of bust
ness that has received no setback IS ne ne
petroleum industry. The Standard on
COMPANY as well as the independent CON
Germs IS doing the largest business il its
history sales Of by-products OF petroleum.
exceed the best preceding high record ana
While the STANDARD Oil Company gives out
no statement as to earnings. Is IS esq
mated that IT'S net profits are running a.
the rate Of considerably more than douple
present dividend requirements of $4,000 600
year. Exports of oil are also large
LLIS-CHALMERS.- United States
Steel Corporation has placed an order WIN
the Allis-Chalmers Company for SIX gas
engine-driven units which viii increase the
corporation S power plant at Gary, Ind-t .
per cent. The twenty-five engines Wnic1
il this plant and the order just secured
will make a total of thirty-cne gas engines
with combined capacity OF l5oUDo morse,
power the largest power pldnt OF IT'S KIND
In the world These units will operate on
blast furnace gas. In addition TO TINS tle
CORPORATION has placed with the Ais
Chalmers Company an order Iof L%9 uL Il1e
same sized engines for It's central furnace
at Cleveland.
UTAH COPPER SUBSIDIARY FINANC-
ING.-The Bingham & Garhfld RalI~ay
Company, d subsidiary of the Utah Copper
Company, win issue $2,5000Vp flfst mort
gage per cent bonds. These bonds WiIl
be convertible into Utah Copper Stock at
$50 a share, for a period OF three years;
beginning July J. 1911. They VIII be oi1ered
pro rata to stockholders of the Utah cop
Der Company as of record June 80, with the
right to subscribe until August l. Ihe en-
tire issue has been underwrltten by Hay
den, Stone g. Co.
PROFIT IN TEXAS COMPANY STOCK,
"A Wall Street news agency SAID yestef-
day: "A sale OF 10000 shares OF Texas com
pany stock was made by foreign lnsIltu-
ton recently at 800 a share, or Sl.Ooo,VOt.
This stock was purchased seNsral years
ago for 800 d share. so that the transac-
tion represents d profit TO the seller OF ap-
proximately $2,000. COO "
cRUCIBLE STEEL DINIDENDs.-fh
Cfueible Steel Company has declared
regular quarterly dividend of ia per cent,
an extra cash dividend of fiye-eighths of |
per cent and a scrip dividend or 10 per cent
on the preferrsd stock. payable 10 stock or
record June p. The extra ana scrip diVl-
dends. amounting to 1895 per cent are the
first payment against the 26ss per cent de-
ferred dividends.
THE COPPER MARKET The tone OF
the local copper market is shade stronger
a result OF the sharp advance in the
price of the metal abroad. Producers ng-