New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-06-06
TOPICS OF THE STREET.

SPENCER TRASK G. Coin their June
bulletin the banking house Of Spencer
Trask & Co say, after discussing the ere re-
| cases arc out Of the way IL Is pertinent
to ask What next? As we read II, the
situation IN general looks favorable II Is
true that business shows no marked ten,
dency to expansion-the recent cut in steel
prices indicates that. AT the same time II
must be remembered that great bodies
move slowly. and II often takes time for
better feeling to be engendered in people.
especially after period OF depression. II
must also be remembered that we would
now he starting from an entirely different
plane than after the panic of 1907. Then
the movement was forced one and had
no sound basis; now merchants nave no
accumulation OF goods TO speak of-indeed.
In many lines the buying for some tune
has been Of purely hand-to-mouth CHAR
acter-the stock market has passed through
a period OF drastic liquidation index num-
bers show a material contraction In aver
age prices; bank loans have decreased
while deposits have increased. and the
reserves are still large. In addition the
crops give promise OF a generous Yield, ana
this is most important point to keep IN
there is the question of tariff reform and
Of the fall elections. We do not minimize
the effects that both OF these may nave,
but We do not expect there ever VIII come
a time when some cloud cannot be con-
tured Up on the financial horizon and the
two unfavorable factors we have just desl
mated are much more than counterba'-
anced, In our Judgment, by those OF
constructive character I.
THE COPPER MARKET. -E.lectrolytic
copper continues Arm between ]2~s and III,
cents q pound. Spectators are not md
ing II easy TO purchase the metal, even AZ
the top figure. The Amalgamated copper
Company is combining its sales as much as
possible to actual consumers. IL is known
that the request OF spectators for large
amounts Of copper have been refused.
all 70 itself. as IT'S competitors have sold
cir possible production pretty far ahead.
DIVIDENDS DECLARED. 49, Dividends
have been declared as follows: The Cop
per Range Consolidated Company guar
terly 70 cents. reduction Of % cents quar-
terly. The Morris e. Essex Railroad regu-
lar semi-annual 312 per cent. The Valley
Railroad regular semt-annual 2is per cent
The New York. I.ackawanna & Western
son. Topeka & Santa Fe regular semi
annual 90 per cent on the preferred, pay
able August ]. The Chicago, Rock Island
& Pacific Railway quarterly " per cent
payable June 30. The Ingersoll- Rand Com
pany regular semi-annual per cent. paya-
bic July 7.
APPLICATION TO LIsT.-Application
has been made to the Stock Exchange 10
list the following securities; ., A ma
tai stock; 100000 per cent twenty-year
debentures of the American Cotton oil
Company. and 100000 additional first
mortgage collateral trust per cent bonds
OF the Pacific Telephone and Telegraph
Company.
STOCK INCREAsED.-At a special
meeting Of the Thompson-Starrett Com
pany the stockholders voted 70 increase
the common stock from 100000 to 81 900,
90. The new stock will be offered IN hold
ers OF record Of June Is at par in proper
lion Of 20 per cent OF holdings.
AMAI.GAMATED COPPER-The stock
holders OF the Amalgamated Copper Com
pany at their annual meeting yesterday re-
elected the outgoing directors. and elected
John e. Morony 10 the board as successor
to tho late General James Jourdan Mr.
Morony Is president OF the DAILY Bank and
Trust Company OF Butte. Mont. the vice
president OF which is John -. Ryan, presi-
dent OF the Amelgamated Copper Company.
and he Is president also of the DAILY Bank
and Trust Company Of Anaconda. Mont.
MERCANTILE MARINE MEETING AID
lJOURNED.-The annual meeting of the
stockholders Of the International Mercan-
tile Marine Company, which was 20 have
been held yesterday. was adjourned until
June 10.