New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1910-08-11
TOPICS OF THE STREET.

FOREIGN TRADING.-Foreign houses
we're not active factors in the local stock
market, buying upward of $4,000 shares.
CUMBERLAND-EL ELY. Y Stockholders OF
the Cumberland Ely Copper Company nave
received notice that q special meeting VIII
be held a Portland Me. on August 20 TO
vote upon the following resolutions: 10
instruct the directors to sell all the prop
of it's cash and accounts collectlbie, on
such terms as the stockholders may uetGr-
mine To instruct the directors TO as
tribute the proceeds Of the sale ana am
cash that may be in the treasury pro rata
among the stockholders. The plan oiiefed
to the stockholders by the Nevada ConSoI-
idated Copper Company some time ago 10
exchange one share of that company Tor
three and one-quarter shares of Cufnper-
land-Efy stock is still in force. There ar
in the Nevada Consolidated treasury al Oh
the 100000 shares of Cumberland-EiE'
except 2S,S66 shares, which constitute the
Company owns 10000 shares of the Ne
vadaN Northern Railroad and 100000 OF
the bonds of that road, also 52o0o shares
of the Steptoe Valley Smelling and Min
ing Company. These investments were
carried at par, s4,700.000. In winding up
the affairs of the company the Cumber-
Iand-Ely stockholders will receive the
proceeds of the sale of the property. its
holdings and the cash balance in it's treas
ury. The Cumberland-Ely mines have been
idle ever since the Nevada Consolidated
secured control. but through its invest
ment in the railroad and smelter the COM
pany has been able to pay several dlvi-
dends.
COPPER PRICES FIRM-Sa1es of cleo
trolytic copper were made yesterday on a
basis of 12$4 cents a pound. in sympathy
with~the advance in the London market.
The demand for copper continues good.
and domestic consumers have purchased
more copper over the last three weeks
than in any corresponding period for sew
eral years. Consumers have also been In
duced TO enter the market as a result or
the falling off in stocks in this country
IS cent market before the close of the
present month. Deliveries on the recent
sales of the United Metals Selling Com.
pany will reduce its stock to a nominal
figure. It is estimated that since the cur
rent buying movement began the United
Metals Selling Company has sold between
5000, 900 and 200, 600 pounds of cop
per. This places the Amalgamated and
Anaconda copper companies in a strong
cash position
CANADIAN PACIFIC.-I G. Ogden. vice
president of the Canadian Pacific Railway.
has been elected director of both the
500 and the Duluth, South Shore & At
lantic Railway boards in place Of Sir Will
lam Van Horne, who resigned some weeks
ago. A leading Canadian Pacific Railway
interest, discussing the action of the d1-
rectors in increasing the dividend. says:
bounded confidence these sllrewd. farsight-
ed men have in the future of the company,
and the country In general, and that the
news of the increase will give an impetus
don. goes without saying. A few years ago
Canadian Pacific Railway was wheat
crop road Now it's ramifcations are so
extensive that a small wheat crop is only
a minor incident in the years work
DIVIDENDS DECLARED. - Dividends
have been declared as follows: The Quaker
Oats Company, regular quarterly per cent
and the usual extra one-half of ! per cent
on the common, payable October 10, and the
regular quarterly IL per cent on the pre-
feIred, payable November 80. The Phila-
delphia Electric Company regular quar-
terly 112 per cent, payable September 10.
Adams Express Company, regular quar-
terly So, payable September J. The National
E,namelling and Stamping Company, regu-
lar per cent the preferred, payable IN
four quarterly instruments, beginning Sep
TENDER go American Express Company,
regular quarterly IS, payable October /.
PLAZA OPERATING COMPANY STOCK
INCREASE.-At d special meeting of the
stockholders of the Plaza Operating Com
pany, Il subsidiary Of the United states
Realty and Improvement Company, it was
voted to increase the capital stock from
$500 900 to $6,500,010, of which 100000 will
be preferred stock and S3.500,000 common
stock The United States Realty Company
Will control the new stock.
DENVER & RIO GRANDE.-Denver &
Rio Grande officers have decided to begin
at once extensive improvements on the
company's line between Pueblo and Colo
RADIO Springs These will include building
of concrete bridges over streams and ar
rovos, the widening of all dry gulches,
heavy balasting of the track and gen.
eral STRENGTHENING of the line.