New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-07-06
Union Trust Co. Of New York
so BROADWAY, Fifth Ave. and 3sth st.
Capital & Surplus, So, 100000
Allows Interest on Deposits
TOPICS OF THE STREET.

FOREIGN TRADING-Foreign houses
were heavy sellers OF stocks In the local
market. putting out upward Of $4,000 shares
for London, Paris and Berlin account
Berlin was an active seller Of Canadian Pa
cific.
SIX MONTHS FAILUREs.-In the first
six months OF 1911 there were reported 70
r. G. Dun & Co. 1861 failures, an increase
over the corresponding period In 1910 OF
673. but though greater in number the busi-
ness defaults of the year showed reduced
aggregate liabilities, these amounting in
the first half OF 1911 to sl03, 1874, as COM
nared with SIP 239 800 in 1910 The increase
In number Of defaults extended 70 every
section OF the Countrywide New England
the Middle. the Southern and Southwest
ern, the Central the Western and the Pa
cifc States all reporting greater number
of failures than in 1910. The decrease in
aggregate liabilities. however, extended
only 10 New England. the Middle and the
Central States. the greatest reduction being
in the Middle States, in which the total
in the first half OF 1910.
DIVIDENDS DECLARED. - Dividends
have been declared as follows: The Atchi-
son Topeka a. Santa Fee regular .quartGly
II, per cent on the common, payable Sep
TENDER l. The Associated Gas and Electric
Company regular quarterly ~ per cent on
the preferred, payable July 10. The Texas
Central Railroad regular semi-annual Pig
per cent. payable July Is. The Massachu-
setts Gas Companies regular quarterly l
per cent on the common, payable August
/ The Western Maryland Railroad regular
quarterly per cent on the preferred pay
able July %. The DAILY West Mining Com
july july 20
UNITED STATES STEEL The United
States Steel Corporation produced at the
al fVaarg.
i'm the last two weeks Of June. This Is the
heaviest output reported since the first OF
the wear Shipments of finished steel We're
AT the rate of over 100000 tons year,
which indicated net earnings at the rate
OF over 39C00,o0O a year which would be
s30 600 90 i'm excess of all requirements in
cIuding depreciation. interest and dividends
on the two classes of stock.
THE COPPER MARKET. copper
market il dull but the large producers
and selling agencies continue 10 quote '23,
cents a pound for electrolytic. However
slight concessions from this level are re
norted The Copper Producers Associa-
lions statement will be- issued this week
and is likely to show a substantial shrink
age i'm surplus stocks. II Is because of the
approach OF the date on which the state
mont will be issued that consumers are
reluctant TO enter the market as buyers
NEW YORK CLEARING HoUSE.-T
.yecutiye committee OF the New York
Clearing House has acted favorably on
the application OF the Nassau National
Bank. of Brooklyn, for admission into that
institution II will be some time before
The increase in capital OF the Nassau Ma
tinnal can BE- put into effect, so that the
bank will not become a member until after
that time.
STEEL RAIL ORDERS-Rail orders re-
ceived 10y the Steel Corporation in the last
week amounted To about 10000 tons In the
aggregate. or this amount the Illinois
Steel Company received $500 tons. orders
coming from the Chesapeake 4 Ohio Rail-
road Company for zoo tons. the Iowa
Central Railroad Company for $500 tons
and the Chicago Terminal Railway. LOO
tons. The Tennessee Coal and Iron Com
pany received an additional order from the
Seabord Air Line for $50 tons.