New-York tribune., 1907-09-27
TOPICS OF THE STREET.

FOREIGN TRADINC.-Foreign houses k.r,..
ten thousand shares in the local market br,aars
Union Pacific on its decline here, IN GOO. ds
Inand for London account In London the reo.~-.
market was inactive and firm, with an irnnra.s-
tendency reported in foreign bonds. Monay r.,e
sitter in the open market. but the Bank -
England made change iii it's minimum rae -.
discount. The weekly return cf the British iustf.
ton was considered favorable. General hra1e,s.
conditions abroad are improving, and the foreign
attitude toward American securities promises -
development in the future OF active 5a-,s-s
for high class issues. such as Union Pacific srS
United States Steel preferred.
MARKET COSSrP.-Room traders and iu.s-a--
opposed 10 the so-called Hartman crowd No.
active sellers Of Union Pacific stock on the reno
that Mr.. Hartman was seriously H. Friends -.
the Union Pacific company were nor alarmed o,,sr
the attack upon the stock. and they raads the No.,
that physical troubles OF any connected u,{sz
the property would not upset the physical Or FRA
ciaI condition OF the Union Pa 'fc road. The 80,
ings of the Hartman companies ara breaking an
past records. and bear movements against Int,
Pacific or Southern Pacific are not likely :,
alarm the genuine holders Of the stocks Co.,
buying was reported in the Industrial s,oo1
the decline. and houses identified with led
ing industrial concerns appeared 70 be rr
ing TO take all offerings. especially in the -
OF United States Steel, which sold near N, io
price OF the year Embarrassing disclosures 49,
predicted in the Public Services Commissions -
QIry into the affairs of the local gas companies
reflection of which was presented in the rorr--n 2.
the gas stocks yesterday Consolidated Gas n-ass
a new low record, and Brooklyn Union tyss 60
lower than at time IN the last ten
issues being sold BY traders who for many ulonffs
have been active the bear side OF the u1arts,
The best Of yesterdays selling in AuaIsarnsts.
Copper came from I. l. Manson & Co. and q n
the discussion Of the money market outlook tbe
best informed houses predicting actual srrn
eency but views OF this sort were not e~so-,I-. :;
discou-aging bear activity the Stock Excbanxs
Traders as rule are working on the bear aid
basing their operations in great part on the sno-i
absence of support from prominent Wan st-as+ a.
md AZ H1v.a
fered by certain large banking concerns bv ths
decline in market values and the unviI!ngnesx ~
the public 20 buy the securities financed by under
writing syndicates
POWDER DIVIDENDS PASSED-rf-.c-o-s AZ
the International SmokeIess Powder Company hsvs
decided to pass the quarterly dividend 571 cents
a share usually paid October I on the common
stock. This action was due 20 the small amount
OF government business which has recently been
handled Business is still very slack Following
passing OF this dividend the Du Pont international
Powder Company. the holding company Of the n
ternationaI SnnokeIess Powder stock. and from
which It derives It's revenue, has passed tho usual
dividend the preferred stock
BANKS LOSING CAsH.-Not counting the s,5o-
900 transferred yesterday TO New Orleans, ths
banks since Friday have lost sz.3S39o0- The loss
on Wednesday $4,000. In the sams tine
week ago the banks had gained sI,199,oe0- The
Sub-Tressrrry debtor ar the Clearing HOUSE
Yesterday for 1920. .9Is- Owing the fact that ths
last day OF the month is preceded by sunday and
a Saturday. IL Is not improbable that tbs bans
statement this week may show a considerable
shifting incident to the preparations for rhs pay
Y1ent OF the $40 600 000 theTeabOurs foy October
interest and dividends
NATIONAL RAILROAD OF MExICO-speyer
& Co are Offering the unsold remainder Of ssouSie
National Railroad Company of Mexico one and one
half wear per cent secured gold notes, maturing
ADriI L 1908 principal and interest payable in
United States gold IN New York About a,opNn
OF these notes has already been placed here and in
der at 81 and interest. at which prics they Yield
II held TO maturity. about ~ per cent per snnunl
1t Will be remembered that tbs Mexican sovera~
ment IN 1903 acquired for about s0t1.o o9 gold con-
troll of the National Railroad Company OF Mexico.
and now owns As per cent OF the 5000 se stock
outstanding. Notes are secured by collateral de-
posted with the Central Trust Company oc New
York. as trustee. and are direct obligation OF the
railroad which Is paying dividends az the rate Of
per cent per annum on about Ese1e9 drst pr"-
fer-od stock outstanding
CT-RE MARKET REFORM.-The movement 70
eliminate .v-iIdcat issues from the curb Is hnding
additional supporters daily Leading firms realize
't necessity vf projecting their customers ana II IS
generally understood that such houses a. Acksr-
mar, 4 Coles W o. GALLAGHER + Thomas Rein
nardt. w r Nichols x co. Z & Nendeis, r. =
Co. Svartwout x Appenzellsr, Myrou l. Vel aut
Peter Whitney are behind tba movement This
step on the part OF the Sew York curb brokers hsE
had its effect on the Boston curb and IL is report
ed that listing committee VIII he appointeH o.
the curb interests at the latter centre
DIVIDENDS DECLARED.-Dividends have been
declared as follows: Public Service Cooperation q
New, Jersey regular quarterly per cent Oriental
Bank regular quarterly IL per cent paySois ccIc
her I; United Cities Realty Corporation. regular
sar7i-annual 2t4 per cent on the preferred and 81
extra a Of per cent payable November L Dele
ware, Lackawanna * Western regular quaTteriF
q. per cent rssyable October Il; AUiance Rssity
Company quarterly y. per cent and an sNrra I
per cent, payable october )
APPLICATION To LIST.-Appfcation has beer
made 10 the New York stock Exchange 70 hst
ss2s 600 additional first consolidated mortzsss sno
collateral trust per cent bonds due 1912 or TIE
Rio Grands Western Railway Company ana 80
600 O00 twenty-year Per cent couveTtleie nondS
due 1921 OF the Union Pacific Railroad Company
NEW CONSOLIDATED EXCHANGE Mem
RERS-CIarence w. WiIIsts Norman h Harmed
George H Townsend ir.. and "A H RornoeTg hsFs
been admitted 20 membership n the CcnSOndatst
Stock Exchange.
.SEw STOCK EXCHANGE AEMBEFS--EdssI
d Pouch. Clarence J. H0usIlan and Brlcs LAR
were admitted TO membership IN INC New lo1S
Stock Exchanges yesterday afternoon
MONEY FOR NEW ORIlE-ANS-lsoca4 pans,
sbnneI sa75 0oa to New Orleans yesterday througi
sUt-TreaSury transfers