New-York tribune., 1907-09-19
TOPICS OF THE STREET.

FOREIGN TRADISG.-Transaction for foreign
account in this market aggregated only about ten
thousand shares with purchases and sales nearly
equal IN volume. Business on the London Ex-
change 4 nd the Continental bOurses much
curtailed in consequence Of the Jewish holiday
American stocks in London showed a declining
tendency but improved in the curb trading con
soils were firIner and the general market had
better tone
DIVIDENDS DECLARED directors Of N.
New York Air Brake Company have declared the
regular quarterly dividend of per cent nayahIs
on October D. The directors of the Havana Elec-
trfc Railway Company have declared the regular
quarterly dividend of 81 80 share the preferred
stock payable October 10 The directors of the
New Amsterdam National Bank have declared
regular quarterly dividend of per cent. payahi.
on October L The directors OF the Title Guarantees
and Trust Company have declared the regular
quarterly dividend Of per cent. payable Sep
tembeT 20 The directors of the Market and Ful-
ton National Bank have declared the regular guar
terly dividend of 21z per cent, payable on october
The directors Of the New York Trust Company
have declared a quarterly dividend Of nor cent
payable September 80 The directors Of the Rail-
way Steel Spring Company have declared the regI-
lar semi-anuual dividend Of per cent ON the conf
stock, payable October % The directors ~
the Aurora. Elgin e Chicago Railway Company
have declared initial dividend the common
stock OF 80 per cent, and have declared the regular
quarterly dividend Of Ia per cent the preferred
both dividends being payable on October . The
directors Of the Union Typewriter Company have
declared the regular semi-aunuaI dividends Of S1a
per cent on the first preferred STOCK per cent
the second preferred and per cent on the COM
mon, all payable on October /.
ILLINOIS CENTRAL. DIRECTORS MEET.-Ths
directors of the Illinois Central Railroad Com
pany held another meeting yesterday, at which the
Fish charges, it was learned. were dropped
FINANCIAL CONDITIONS IMPROvING--Johu
ii. Davis &c Co. in their monthly financial review.
say:
TT cannot be questioned for thing that ths
money market outlook has been vastly improved
by the wise measures adopted and announced by
the Secretary of the Treasury In effect these
include the deposit with the national banks from
q
Western and Southern requirements for the pur-
pose Of moving the crops Mr. COrrelyou's arrange
ments in this regard have been marked b sagac-
ity and rare good Judgment His deposits Of cash
with the banks will be ordered 70 establish
a fair balance between New YOrk's income and
outso. Consequently. there is likelihood that
money will be lrRde SO cheap as To threaten
ports Of gold. OF, on the other hand that u VIII
become dear TO involve a readjustmenr m
the investment market
For nearly two years now the Consested cOndi-
tiou of the bond market has been one of the most
disturbing features Of the whole financial situs-
ton In our Judgment the disposition OF the New
York municipal loan even after making all allow
anCes for the conditions of its hOtatiOn, marks a
turn for the better in this respect Some evidences
OF lettering conditions TO be noticed elsewhere
in the investment situation The opinion now pre-
walls quite generally that the country has IN store
some measure Of Industrial reaction The depth
and breadth of the movement cannot as yet he
even approximately gauged II is certain. however.
that in the process there VIII be involved lower
wages a diminished trade demand for financial
accommodation. and consequently protractsd
lower I.veI Of rates for money These circrm-
stances spell out increasing inquiry for stand
ard Investment securities irrespective Of what their
bearing may be upon the more speculative issues
UNITED STATES STEEL ORDERS.-Ths
amount Of untitled orders at present on the books
of the United States Steel Corporation IS under
sto,d to he about 100000 tons comparing with
7so3OO0 tons July / last and with ooe tons
on October I. 1905
sOO-S NEW STOCK ISSUE-Of the SLoo.-
no0 additional common stock and $1.C6o0d0 Of pre-
ferred stock authorized Tuesday by the stock
holders Of the Minneapolis, St Paul & S7ult Ste
Marie Railway Company. at 4 special meeting
held in Minneapolis. the directors have decided
10 Issue 81. $1,000 preferred and S2,So.@0 common
stock.
a NJ Movbray has been elected vfCe-president
OF the Diamond Match Company. TO succeed Rus
sell Hawkins. resigned