New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-11-08
wA1J. STREET AND EXCHANGES.

p.ORFIGN TRADING.-Foreign houses dealt in
inward of 30 600 shares in the local market ouyle
900 shares on balance. In the LONDON marhet
nrices were generally firm. There was no lhaIerldi
change In foreign discount rates
TO WITHDRAW GOVERNMENT DEPOSITS
It was stated well Informed financial circles yes
terday that the Secretary of the Treasury would
call on the depositary banks for 100000 of gov
eminent deposits early in December. These with
lrawaIs will 1t is understood be made from banks
having over $4,000 OF government deposits. so that
the depositary banks in the large cities Will he
called upon TO supply the greater part Of the
amount called for by the government. 1t is esti-
mated that the proportion Of the New-York City
banks payment will aggregate 100000 In view
Of the fact that the cash holdings of the New-York
banks show an increase of SS6 745.10O as compared
with this time n year ago. with reserve above legal
requirements in excess of the at this time
in 1903 while the movement Of currency from in
terror points from doubtless will be in favor
of this centre. there is no reason for alarm over
the probable call by the Treasury Department on
depositary institutions.
CANADIAN CAR CONIPANY.-It Is announced
that American interests from the Pressed Steel
Car and American Iron and Foundry Company will
retain just enough of the 100000 capital to have
the controlling interest The remainder of the stock
has been disposed of TO leading interests of the
Canadian Pacific and Grand Trunk Pacific Railway.
The stocks Will be listed in Montreal and Toronto.
APPLICATION TO LIST-Application has been
made to the Stock Exchange to list the following:
Cleveland and Pittsburg Railroad Company, ST.
G3,1O0 guaranteed betterment stock; the St Louis
Southwestern Railway Company, $61 600 additional
consolidated mortgage per cent bonds OF 1892 and
Philadelphia Rapid Transit Company, $4,000 900
capital stock.
SOUTHERN PACIFIC SAVING.-General Mana
ger Markham of Southern Pacific has received esti-
mates showing that his company is saving $500 a
day. or about $4,000 year, by the operation OF
freight trains over the Lucin cutoff.
TENNESSEE COAL AND IRON-The Tennessee
Coal and Iron Company sold pig iron Saturday on
the basis of Sl2 20 per ton indicating that the pig
iron market still has upward tendency II is
expected that number Of orders for iron and steel
rails Will be placed this week. and the company
Will probably receive its quota OF the business
the Canadian Pacific reports that the Arcola-
Regina Branch. which cost 81 100000 will be entirely
completed on November To- and will be immed iately
taken over for operation The branch runs 113
miles through one of the most fertile districts Of
the West, and Mr. Whyte says it Is one of the most
important pieces OF new road the Canadian Pacific
has constructed this year.
GUARANTEE COMPANY DIVIDEND-A quar-
terly dividend OF 2l2 per cent has been declared by
the board Of directors of the Bond and Mortgag e
Guarantee Company payable November l5 10 the
stockholders of record the closing of transfer
books at 3 p. m on November 10. The books will
DIVIDEND DECLARES--The board OF directors
of the Lehigh Coal and navigation Company yes
terday declared the regular semi-annual dividend
OF 81 per cent, and n stock allotment OF 10 per
cent, TO holders of record on November g. SubsCrip-
tions to the allotment must be made and paid
for in fun between November p and December 5.