New-York tribune., 1907-01-25
TOPICS OF THE STREET.

FOREIGN acknowledgements IN this mar
ket for foreign account aggregated about nrteen
thousand shares, with purchases and sales nearly
equal In volume The London stock market was
inactive and no Improvement In the vOlume Of
business was anticipated before the settlement
The steadier tone OF American stocks wa, gen.
orally reassurng. but there Is stil want OF con-
hdencs IN the New York market Continental
bourses closed firm but inactive. The Bank OF
England bought large quantity Of short dated
bills and a moderate lender OF seven day
money at 81 per cent. The bank return was we'll
liked but Il IS believed that IL will bs necessary
for tbs Bank OF England 70 retain control OF the
money market for some time longer
ERIE SECOND PREFERRED DIVIDEND
Rumors have been circulated recently that the SEQ
ond instalment-2 per cent-of the per cent yearly
dividend declared last August on Eric second pre-
ferred stock would not be paid Oficial announces
ment was made yesterday that this tnStalment
would be paid on April g.
PIG IRON oUOTATIONS.-PIg iron certificates
at the New York Produce Exchange were dull and
irregular There were sales. Prices for regular
follow: Cash. January and February, 81 bid:
March. s2ids21 80: April and May. 81 25 asked;
June s21 asked. Quotations for standard foundry
follow: Cash and January s23 bid; February. SS 50
Qg23: March. $3Gs22 49, April 2GS22 90; May u %
as22 3; June sol so asked; July. s21 20 asked
AN ENGLISH VIEW OF AMERICAN RAIL
wAYS-In a conservativeIy written pamphlet OF
about a hundred pages. under the title OK Amer!-
can Railway Earnings and Dividends" d. O. Cros1
E, X. s..
the United States FOR the last ten years devOtins
much OF his space to examination OF the factors
bearing upon the stability OF dividends and stock
values hts conclusion being that American rail-
vav policies are sound and that the future or the
roads is full OF promise. The pamphlet contains
also outline descriptions OF the growth and present
position OF score OF leading roads OF this coun-
try.
THE WABASH DEBENTURE DEPOSTTs,-The
amount OF Wabash debenture mortgage bonds de-
posted for exchange under the terms OF the fnano-
ing plan were: Series A. S.soTooO; Series y. $Ss.-
col 900. The amounts remaining outstanding are
S5is 90 Series \. and ss.4S9co0 Series b.
WANT CERTAIN GRADES ELIMINATED.-A
petiton is being circulated among the members OF
the New York Cotton Exchange. asking the board
OF managers to consider the suggestion made at
meeting OF the members January FL to eliminate
from the contract the grades known as good ordt-
nary strict low middlng. stained and low midGlin<
tInged.
GRANNY AND MACKAY TICKER NAMES
Tho sbbreviation the stock ticker for tho
CRANKY Consolidated Mining. Smelling and Power
Company's shares is "GB.' located at post No q
and the abbreviatiOn for the securities OF the
Mackay Companies Is NIX located at post No. q
RAILWAY NOTE ISSUE SOLD-Ths SO.Ooo.ooO
Chicago & Western Indiana notes offered by Lee,
HIgginson & Co. OF Boston: Clark. Dodge & Co.
OF this CITY, and the Illinois Trust and Savings
Bank OF Chicago have been sold The bankers
have also sold 100000 additional notes on which
they had an option. making sSOoOoo0 In all. which
Is the entire issue.