New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-03-21
TOPICS OF THE STREET.


FOREIGN TRADING.-Forelgn houses dealt In
60 900 shares in the local market buying 10000 on
balance In London the general market firm.
with especial strength in Russian bonds and Rio
Tintos. Money in good demand and higher
rates predicted at the close OF the week Incl
dent to the forthcoming settlement The failure OF
Tuesdays scare reports on the local exchange 10
develop into facts helped the foreign markets.
MARKET GOSSIP-AU indications show that
there still stocks TO distribute on rallies. This
noticed in yesterdays market. particularly in
Reading and the Hartman shares Inquiry among
commission houses shows that there is still good
deal Of Amagamated Copper in loans. and it is by
no means a popular collateral The bull account
has proved surprisingly strong. and responsible
houses say that nothing has impressed them more
than the way in which margins have been made
good on all declines Small indications OF the
amount OF damage done and who bore the brunt of
- turn up in unexpected quarters. The manu-
facturers of a really expensive type OF automobile
for example had thirty-seveu orders cancelled and
forfeits paid IN the last fortnight The Street Is
fun Of hard luck stories Of this kind. r. l.
Smith Co. the heaviest early sellers OF
Missouri. Kansas & Texas. finding less support In
the stock from abroad than there usually is on
declines. II is not that the foreign holders think
wonderfully good. Bulls there. in everything
else. position TO take the aggressive. and
people who think highest of the property admit
that they are letting liquidation take its course
enjoyed exceptionally good information throughout
the general decline were sellers of Union Pacific
on the early bulge. Weakness in the second hour
helped by the calling OF trust company loans
and evident desire to hasten the liquidation OF
accounts carried over last weeks panic in order
get the market in good shape for April rally.
G. Love & Co. heavy sellers of Reading.
Efforts 70 break the strong Tennessee coal and
Iron pool We're unsuccessful. The trader who sold
100 shares of Tennessee coal and Iron 1874 n
spite of the remonstrances OF we'll posted friends.
found that there was really no stock in the mar
ket and paid 1891. for II rather than pay cent
premium 10 borrow the stock overnight. There
IS reason TO sus9ec. that there was good selling
order IN the market sll the time. but the trader
who had it could not show his hand. a H.
Coombs had selling order in l50O0 shares % Union
Pacific. and offered the stock down 152ia. Trad
helped him sell. and rallied the price immedI-
ately he had finished The Rock Island crowd is
said still TO be heavily short OF the market Bear
attacks on American Smelling dislodging con
siderable stock from sources that for long time
have been heavily overloaded.
DIVIDENDS DECLATFD.-The directors OF the
New York Central have declared the regular quar-
terly dividend Of Ia per cent. payable April 10.
The directors Of the Proctor & Gamble Company
have declared the regular quarterly dividend OF
per cent payable April Is The directors of the
Reading Company have declared the regular SEMI
annual dividend OF per cent on the second PIE
ferred stock payable May 40, Directors OF the
Merchants Manufacturing Company. Of Fail
River have declared quarterly dividend of Ia
per cent. payable April l. The directors OF Tho
New York Airbrake Company have declared the
regular quarterly dividend OF per cent. payable
April s. Directors Of the Westinghouse Electric
and Manufacturing Company have declared the
regular quarterly dividend on tho preferred and
on the asserting and non-assenting stocks. payabs
Aprf TO- Directors OF the 18th Ward Bank have
declared the regular quarterly dividend OF 2t per
cent payable March 80. Directors of the Union
Typewriter Company have declared the regular
semi annual dividends OF So per cent the first
preferred stock, per cent on the second pre-
ferred and per the common. payable
April l. Tho same amounts also were declared
for the second half OF the year. The Garfield
National Bank has declared the regular quarterly
dividend OF 8 per cent payable March So The
Bankers Trust Company has declared the regular
quarterly dividend OF per cent payable April l.
The Central Trust Company has declared -TegU-
lar quarterly dividend OF 10 per cent PAYABLE April
l. The Fifth Avenue Trust Company has de-
clared the regular quarterly dividend OF per
cent payable April /. The Guaranty Trust Com
pany has declared the regular quarterly dividend
OF 8 per cent payable March 80. The Morton
Trust Company has declared the regular quarterly
dividend Of . per cent. payable March 80. The
Mercantile Trust Company has declared the regu-
lar quarterly dividend o. per cent payable April
/. The New York Trust Company has declared
tho regular quarterly dividend OF per cent pay
able March So
UNITED STATES sTEEI+-By the close Of the
current year the United States Steel Cooperation
Is expected to have moro than hundred complete
blast furnaces. Five furnaces are now IN course
OF construction which. to be exact win bring the |
total up 20 1OS. as compared with eighty-four at
the close OF 1902 Many Of the furnaces In exist
ence at the time tho corporation organized
have been practically rebuilt and naturally there
has been n heavy increase IN production outside |
OF that contributed by the furnaces The fore
going figures do not include tho furnaces TO b,
built at tho Gary Cnd.) plant Tho latter subsld-
iary, IL is expected win have total OF more than
fifteen blast furnaces when The works are COM
pleted.
IRON ADVANCED-Ths Buffalo Furnaces this
morning advanced the price OF iron calling for de-
livery in the last half 80 cents a ton. A scarcity
OF Iron is reported n the Buffalo district the fur
naces have practically sold their possible pro
oEeuon for the current year. There has been |
some very good buying OF iron for future delivery
IN the local market over the last few GAYS Ons /
contract for 5000 tons has been closed ana AZ "a
expected that 10000 tons more viii be cold 20 n /
leading interest In the near future one nrrn "a
ports that Its sales within tho last week excsedns
It's entire sales In the month OF February.
REPUBLIC IRON AND STEEIe-The directors H
OF ehe Republic Iron and Steel Company held "a Il
meeting yesterday 70 examine the reports froo,
l. ~Vas