New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-03-09
700 total sales
WHEAT.
TOPICS OF THE STREET.

FOREIGN TRADING.-Foreign houses sold up
ward OF 10000 shares in the local market. In-Lon
don the general market was unsettled. weakness
being encouraged by the position OF the American
market and by fear OF tighter money over the forth
coming settlement. The decline IN the Bank OF
Englands proportion Of reserve 70 liability and the
possibility OF G demand Tor gold for New York
account causing some apprehension IN London
Stock Exchange circles.
MARKET GOSSIP-It was reported on the floor
that the character OF buying OF Reading better
than recorded since the decline IN the stock began
Among the traders ]. r. WIlliston and 3. A.
Manice gave the best support to the stock Spencer
Trask & Co. and shefled q Mccullough supported
AmalgRmated and substantial houses took Southern
Railway. The decision OF the directors not 70 re-
duce the dividend the preferred was said 60 be
due IN part the fear that reduction at this time
would have q bad effect on the general market
Atchison sold at IFS lowest price since last July
also United States Steel common. Missouri Pacific
sold at its lowest price since May 1901. Morgan
houses bought Steel common J. ]. Manning bought
20. 600 Steel A H. Combs sold 1000 Pennsylvania
and E. r. Chapman bought large blocks Of the lat
ter issue New York Central sold at its lowest price
since 1904 The slump IN Missouri Pacific was ac-
companied by reports Of q reduced dividend but
the selling in the stock appeared TO be based IN
great part on the knowledge that the company
needs money. Rock Island Is sold az a new low
price for the year. O. C. Miller bought $4,000 Union
Pacific. Bidding against one another by W. T.
Hyde and c. I. Hudson advanced Northern Pacific
in the early dealings. The uptown bear party was
aggressive ana showed no signs Of changing It's
position announcing that stock was easy to secure
and that It's big lines would be covered at pres.
ent prices Ous large trader Is $1,000 shares short
DEUTSCHE BANK ANNUAL REPORT-The
thirty-seventh annual report OF the Dautsche Bank
presented yesterday IN Berlin states that the en-
tire world, but particularly Germany and the
United States is now suffering from an excess OF
prosperity, in that the cash requirements for new
enterprises have exceeded the provision OF new
capital required therefor. The business OF this
bank for the last year shows the following resuts
The turnover volume Of business, has increased
from slS3S40O00OO $50 80 1000 The usual divi
dends have been paid at the rate OF Y per cent per
annum. The capital Is now sf7.6l9OOO-and the
shares quoted at 81 per cent. The reserve
amount has been increased to about SIS co.
while the unwritten reserve being that represented
by the book valuation less than the market value
OF investments. has Increased to S142sO.oOO. thus
making the total actual reserve more than 50 per
cent OF the total share capital. The cash items
amount to SPAS OOO.COO while the amount due the
public for cash deposits amounts to S29sOO0OO0 The
number Of open accounts has increased from 1Sa000
20 $4,000 and the stan from SssS to GO96 employees.
PROGRESS OF NIPISSING.-At meeting OF the
directors OF the Nipissing Mining Company. Ltd.
II was decided TO authorize the enlarging OF the
mems quarters at the mines as to accommodate
three hundred to four hundred more men. This
action was taken as the company oontemplatss ma
teTially increasing operations In the spring. II IS
understood that other matters were considered tn
GLIDING the building OF a spur on the government
railroad int the Mines but nothing definite was
decided upon. President NeWhOuse attended the
meeting Il being the first time that he has had
chance to confer with the other directors N six
weeks. Mr.. Newhouse will san for Europe to-day.
20 be gone four 70 six weeks The directors OF the
Nipissing Mines Company. the operating company,
viii meet about March 90 co take action on the
quarterly dividend. This matter has never been
considered by the board. but it can be stated
excellent authority that there will be passing
Of dividends It IS said that the financial position
Of the company 10 excellent as 1t has about $4,000
In cash ana cash assets.
REGULAR SOUTHERN RAILWAY DIVIDEND.
Tho Southern Railway directors yesterday do
cared the regular sennl-annual dividend Of 2N per
cent the preferred stock. Following the
nounceent OF the dividend. the preferred stock ran
up from 725s TO Ts1s and then fell to TSIs state
ment Of the company's income for the six months
ended December 81 shows decrease OF ssi2.1l7 On
les net income from operation. decrease OF SS7S.-
7O5 IN it's total income and decrease In the total
balance OF 554Oo0 The statement declares that the
dividend on the preferred stock has been earned.
and that the operations Of the company for the
FIRST six months and OF the present months reject
extraordinary conditions which, IL Is believed, can
be improved. except as the company may Be ar
facted IN common with other roads BY an increase
IN wages and higher prices for material
DIVIDENDS DECLARED-A regular quarterly
Uc % & Bss ssnt sss TSs so Sn
the American Can Company have declared the
regular quarterly dividend OF IL per cent on the
preferred stock. payable on March IS The direct
ors OF the BessemoF & Lake Erie Railroad have
declared the regular semi-annual dividend Of III
per cent on the common stock. payable on April /.
The directors Of the Fifth Avenue Trust Company
have declared the regular quarterly dividend OF
per cent. payable on April J.
AMALGAMATED COPPER.-A representative
or one or the leading copper interests says the dis
tuFbed conditions IN labor In the Butte district
nave induced many consumers 20 cover their re-
Qulroments much earlier than usual, fearing a
strike. However the outlook Is less gloomy than
" has been. The closing OF the mines In the Butte
district would create genuine famine IA copper,
as consumption is running ahead OF production as