New-York tribune., 1907-12-04
TOPICS OF The STREET

FOREIGN TRADING.-Foreisn houses ag..
sold stocks in the local market. though sales Te-.
well under the total recorded Monday TIas
heaviest operations in United States So
Reading and the Hartman issues Arbifrsg
houses reported selling of stocks in London IN
orders from New York and also reported failur.
of the efforts to transfer the New York b,,u " 20
count the Lond1n market COnsoIs were arr,
and the general London market was quiet wirh- :
good tone. Money was easy at the British capital
with a fair volume of business in bills ct o. u.-
cent. The advance in the premium currency a,
this centre has created more cautious attitua,
abroad. especially as Continental exchanges are
moving against New York
NOVEMBER FAILCRES-Commercial failure,
in the United States during the month OF NOvenn-
Der. according to statistics compiled by r. G. Dun
& Co., 1.1S0 in number and sl1SSISn in amount
Of defaulted indebtedness. This is decrease 20
about SOOG0OG0 in liabilities as compared with tha
failures in October, and slightly smaller than the
figures for September indicating that the situation
is improving, although losses show heavy H.
crease as compared with the $50 failures In No.
vember 1906 when liabilities amounted to s $50 10
Manufacturing failures were So5 in number, and
S10.s27 5s3 in amount, compared with 22 defaults
in the month last year, when the amount IN
yoIved only S3.291,19@- Trading failures were
$40 in number and S.Sa0065 in amount. against si7
failures year. with liabilities of Si3o415. There
were thrty-five other commercial failures. nclud-
ing brokerage real estate, insurance and similar
concerns with q defauIted Indebtedness OF A.ess-
3is against twenty-six similar failures last year,
when the amount involved was Si,291I9 These
returns indicate that the only noticeable increase
of liabilities over the figures for the same month
last year occurred in the manufacturing class
though numerous small firms were forced to sus-
pend among traders. The mortality was greater
than normal owing to the strained monetary STU
alton, and not because Of poor business and com
parativeIy few large failures in the manufacturing
division supplied the only increase above an aver
age months liabilities.
MONTHLY CIRCULATION STATEMENT-Ths
monthly circulation statement issued by the Con-
troIIer of the Currency shows that at the close
of business November 80. 1897, the total outstand
ing circulation S656.21S,1S6, which is an in
crease for the year of SS2831.G4I, and an increase
for the month of S46,23I,130- The circulation based
on United States bonds amounted 20 S510.15600S.
which is increase for the year OF S0S,1I4.561
and an Increase for the month Of S41.42S,S9+ The
circulation secured by lawful money aggregated
s46O6217S a decrease for the year Of S336.514
and decrease for the month Of s1.1S0,6s5- Tbs
amount of bonds deposit 10 secure circulating
notes was s61S.394.310. and TO secure public de-
poSitS S269.614.92S-
DIVIDENDS DECLARED-Dividendsh have been
declared as follows; Morris & Essex Eailroad T
1; Portland Railway. Light and Power Company
regular quarterly Il per cent on the preferred;
CelIuIoid Company, regular quarterly = per cent
and per cent extra: International Silver Come
pany. regular quarterly y per cent on the pre-.
ferred. payable January l; Chicago & Eastern III
nois regular quarterly Ia per cent On the pre-
ferred payable January 2; ST. Louis & San Fran
CISCO regular quarterly 1 PEI cent on the first pre-
ferred. payable January .: American Beet sugar
ferred payable January ? Hooking Valley. regular
seni-annuaI per cent on the preferred ana per
cent the common. payable January IT,
LONDON UNDERGROUND NOTE EXTEN-
STON-It is understood that a majority OF the
holders in this country Of the London Underground
; per cent notes have already availed themselves
of the offer of Speyer & Co 20 purchase the De-
cernber coupons according 10 the arrangement an
nounced by the bankers on November p
SOUTHERN RAILWAY EARNINGS IMPROVE
Southern Railway gross earnings for the month
of October show gain over the corresponding
month in the preceding year Of s9366Si and gain
in net of s5O.43S. The Mobile s Ohio, the Alabama
Great Southern and the Cincinnati New Orleans
Texas Pacific, controlled by the Southern Ral.was
also present favorable results for October
VESTINGF4OI-SE AIR BRAKE STOCK
Stockholders of the Westinghouse Air Brake Com
pany have voted to the capital stock from
S11 .0O6. 900 to S14.00O.000.