New-York tribune., 1907-03-08
TOPICS OF THE STREET.

FOREIGN TRADING.-Foregn houses dealt IN
5000 shares. selling 10000 shares balance. In
London the general market was heavy. especially
IN the American department Considerable appre-
hension was exhibited abroad over the American
position, owing to the sensational movements in
the local market in the last few days The Bank
Of England made poor showing in it's weekly
turn. but did not change its minimum rate OF
discount. The proportion OF reserve to liabilities
declined per cent from week ago.
MARKET GOSSIP.-A sale OF 100 shares Of New
York Harlem made at S65. decline OF IS
points from the last preceding sale. made in May.
1908. Bear traders who covered Wednesday put out
stock again in all parts OF the market, especially
In Reading. Southern Railway. Erie and the cop
pers. Among the active traders who sold were H
Content c. H. Dewitt and r. H. BisseH. Simmons
& Reade heavy sellers Of Pennsylvania, and
Pepper Sternbach. who bought Reading on
Wednesday. large sellers OF that issue yester-
day. The greater number OF floor traders were
bearish and further declines were predicted Nor
gan brokers did not support Southern Railway. but
took OF the stock the decline They also
bought Erie. and talk Of the passing OF tie second
and first preferred dividends Erie was not taken
seriously. The Street believed. however. that
Southern Railway preferred dividend would be cut.
Louisville & NashvilIes sharp decline was due en-
tirely professional attacks The Street discussed
with uneasiness the probable eject Of reduced ex-
penditures by the railroads on the steel trade Mr..
Harrinans talk this topic considered
bearish
BETHLEHEM sTEELA-The officers OF the Beth
lehem Steel Cooperation about a year ago entered
into contract with Harvey Fisk & Sons for the
sale OF $4,000 twenty-five year per cent exten-
sion mortgage gold bonds OF the Bethlehem Steel
Company. out OF an authorized issue Of S12OOGOO0.
with option 20 them for the purchase OF the
additional 100000. The statement has been made
from time time that the option on the remaining
100000 had not been exercised II is now statoi
officially that the option exercised some rr1e
ago and that the Bethlehem Steel Corporation is
receiving the proceeds there:rom in instalnents-
The bonds were issued in connection with exten-
sions which nearing completion.
ERIE DIVIDEND-Among the bear diversions
regarded as intended 10 provoke syEpathetic stock
market weakness. was savage attack on Erie
common. Accompanying the attack was the cir
cuiation Of rumors that the company is TO suspend
dividends on both its first and second preferred
stocks The semi-annual dividend OF per cent was
paid on the first preferred February 2S last and
the next payment Is not due until next September
and will not be acted upon until the latter part %
July. The dividend Of per cent for the year was
declared on the second preferred last autumn The
second semi-annual instament Is due TO be paid on
April 9 next. and books will close for the purpose
OF this dividend next Tuesday. AS a consequence
the question of the dividend the second pre-
ferred will not come up for consideration until next
fall
MOVEMENT OF OfoNEY-The feature Of the
money market yesterday was the increased volume
OF shipments OF currency 70 the interior. The prn-
Clpdl outEO was 70 CnlCdEO ana OJheF western
points, and the movement. although not earlier than
that Of last year. was in advance Of the average
The shipments are due to the activity in general
business throughout the West. There Is no abate-
ment Of the corporate demand for funds all over
the country. Notwithstanding the assumption OF a
sensible reaction IN trade
INTERBOROUGH METROPOLITAN DIVI-
DEND CNCHANGED.-The directors OF the Inter
borough Metropolitan Company have declared the
regular quarterly dividend of IL per cent on the
preferred stock. payable on April l.
ATCHISON.-A leading interest IN the Atchison
Company is quoted saying that the company
has no floating debt and has an ample balance In
the bank, making note issue unnecessary.
HEAVY BANK CLEARINGS.-Bank clearngs
in New York yesterday amounted to $fS2 $50 $50 an
increase Of Sll7. 466. compared with the
dav a year ago. Wednesdays heavy speculation
In securities was responsible in great part for the
large gain.
NEW CURB STOCK.-The Butte Exemption
Copper CoErpany's stock is the latest Of the new
copper AOtatons to be dealt in the New York
and Boston curbs> 1t was quoted yesterday at
bid. rs asked.
PIG IRON CERTIFICATES.-Pig iron certificates
the New York Produce Exchange were dull and
about steady. There were no sales. Prices for
standard foundry follow: Cash and March. SO bid;
April S2GSS2 25 May. $21 6O0S2; June. 81 30 asked
July 81 25 asked; October $21 asked.
RAILWAY STEEL SPRING COMMON DIvI-
DEND.-The Railway Steel Spring Company has
declared dividend OF per cent on its common
stock, payable April 4.