New-York tribune., 1906-12-20
TOPICS OF THE STREET.

FOREIGN TRADING-Foreign houses dealt IN
10000 shares in the local market selling balance
IN London the general market was steady. without
especial feature. Money in fair demand and
rates were firm. while in the Continental capitals
there was no Indication Of an easing I'm loan quota
tions in the future. Open market discounts
in London were quoted at per cent. IN Paris
per cent and in Berlin 5s per cent Active buying
OF American stocks for New York account was re-
ported In the London market
INTEREST OF SAVINGS BANKs-There are
several savings banks which will pay Increased IN
terest their depositors next January L OF twen-
ty-nine savings banks IN the city OF New York
Borough OF Manhattan. sixteen will pay per cent
on all deposits. will pay per cent and ga per
cent on deposits below and above 500 respectively
one will pay per cent and per cent on deposits
below and above $500. will pay 31s per cent and
per cent deposits below and above 500. and
nine will pay 81 per cent all deposits OF these
the following five savings banks have announced
that they will pay per cent interest, compared
with S1a per cent paid by them on July I last:
Bowery. Citizens. Dry Dock. German and Metro
poitan. The Irving Savings Institution and the
Washington Savings Bank will pay per cent on
all deposits. instead OF per cent and S1s per cent
on deposits below and above $500. as they did in
July, It might be noted that the Irving paid 81
per cent all deposits January I. 1906, and was
the only bank that made increase in it's rate OF
interest IN July The Union Square Savings Bank
will pay per cent and 315 per cent to depostors OF
sums below and above $500. respectively. as COM
pared with the sl5 per cent interest paid on all
deposits in July.
BALTIMORE & oHIo.-New York interests IN
Baltimore & Ohio say that there Is no present
foundation for the report that the company con-
templates stock issue Of s20.OooOoo or s0.oooOoo
and that they do not expect to see any other than
the regular per cent serni-annual dividend de-
claTed on the common stock at the January meet
ing. The same thing is said by directors OF the
company in Philadelphia, although It can be said
that denials OF such reports at conpanys Office
are at a discount in the Street. Several recent
security issues have been officially repudiated
the OF their announcement 1t is admitted by
men who largely interested In Baltimore & Ohio
that the weight Of Hartman influence Will proba-
bly, be on the side OF higher dividends at the
lest moment that earnings make them practicable.
AMERICAN WOOLLEN-There is considerable
trading in American woolIen rights. both in New
York and Boston, around 20 cents. Buying orders
have been general in character. o. the s10000Oo0
preferred stock underwritten by the Brown Broth
ers syndicate. about 100000 was taken for Bos-
ton and New England account while the rest
will be divided between New York London and the
Continent. At the time underwriting subscriptions
closed requests for participation in under
writing totaled several million dollars above the
S0.0o00o0 10 be issued. and the bankers estimate
that they could have easily allotted A5OooOOO had
IL been necessary.
DIVIDENDS DECLARED-The Knickerbocksr
Ice Company OF Chicago has declared semi
annual dividend OF per cent on the preferred
stock. payable january . The East River Ma
tonal Bsnk has declared the regular serni-annual
dividend of per cent. payable January q The
American Cities Railway and Light Company has
declared an initial dividend OF 8 per cent on the
preferred stock payable January L The United
States Printing Company has declared a quarterly
dividend OF IL per cent. payable January 1 The
New York Air Brake has declared a regular uuar-
terly dividend OF per cent. payable January q
Inc american Locomotive Company has declared
the regular quarterly dividends OF Ia per cent on
he III
Manila Electric Railroad and Lighting Coruorattoy,
has declared dividend of per cent. The Electric
storage battery Company has declared the reglIa-
quarterly dividends of 1h per cent on the common
stock and 1A per on the preferred pavabIa
January ?. The Hamilton Bank has declares .
semannual dividend of 5 per cent an increase or
l per cent The Jefferson Bank has declared a
semi-annual dividend OF per cent an increase ~
l per cent The Garfield National Bank has a.
clared the regular quarterly dividend of per cent
and an extra dividend OF per cent navahIa
December 81. The Washington Trust CornraD,
of the City of New York has declared q C,,o
teriy dividend of per cent and extra dividend
OF per cent on the capital stock OF the connna,,
The dividend is payable on and after January,
UNITED STATES sTEEIA-An tnteras+ t..,.,s..
with the United States Steel Corporation saws tb.
the only drawback in the steel trade "a tta g.
dolty OF the mills TO secure enough cars TO handI.
thelr products All the mills are coneestsS v,ttb
business and are making no efrort - t-o - -
orders on their books. Many railroads are u, +h
market for steel rails. but owing 70 +bo oaIs
conoluon OF the market the mills are unable 70
take orders calling for deliveries within tha ~,
few months HeA'
CuMBERI-AND-ELY COPPER COMPANY
d Heeuhs OF the stockholders Of the Cynbarlan5
Ely Copper Company an Increase IN the caD,ta,
STOCK from S0OOoOCo 70 s65o0Go0 was authorised Cr
me SUo,VoU addiuonal shares. pcr value S share
~O ' VIII oe delivered TO the Nevada Consolidated
copper Company in payment for a ona-h,lT tt-N-.
III ~ tne Nevada Northern Railway Company The
remaining 10000 shares will be offered TO the pres
OF this company at SO 50 a share
ehIIthhg each holder OF ten shares Of stock To snh
Sorioe Tor one sha- OF the new issue
EXTRA DIVIDEND FOR IEHIGH VALLEY
AHe directors or the Lehigh Valley Railroad Com
Ss nave declared the regular semI-annual divi-
oeho OF per cent on the common stock ana an
extra dividend OF per cant. They also hav. sa-
preferred stock $50
oH'S fohAL acknowledgements OF IN,
Geherai Electric Company state that their gross
business Tor the nscal year ended January a. 1917
VIII not fan short OF SSS ooOoo an increase OF sho