New-York tribune., 1907-11-05
TOPICS OF THE STREET.

FOREIGN TRADING-Forcign houses were nor
active i'm the local market, selling upward OF 900
shares. Cable dispatches said the supply OF Ameri-
can stocks London extremely limited. At ths
British capital prices weak. with further heavy
German selling of American securities. The ad-
in the Bank of England rate at special
ting of the governors 10 8 per cent was accom-
panied BY a report that gold to the amount OF
g. 100000 would b. engaged Tor American account
this week. The bank did a moderate business in
bills at per cent and lent some money to thu
market at 8 per cent
BANK CI4EARINGS FOR OCTOBER.-Bantins
conditions late October were much disturbed. YET
cearins in nearly all sections Of the country,
as reported for the month by r. G. Dun 6 Co,
show larger volume OF payments through the
banks than in any preceding October total
changes all cities in the United States outside
New York being S5.556.S1S.911. an increase OF %
per cent over October last year and 1874 per cent
over the corresponding month OF 1898. both record
wears New York City is again omitted from the
total because Of the loss there due to purely specu-
lative conditions. There is also small loss as
Boston and Philadelphia. rejecting the same stua-
ton in those cities The increase Is mainly IN thu
West and in the South; trade has been very active
there. and since the movement Of the crops has
of the cities in the West ana South report the aTg-
est volume of hank exchanges OF any pre-
ceding October and at some cities the largest
volume ever reported. There noteworthy
gains al Chicago Detroit Milwaukee, INDIANAPOLIS
ST Louis. Kansas City. St Paul and Minneapolis.
showing that the exceptional activity was not
fined 10 any one section. but widespread. In
the South Atlantic States where the Improvement
is notable. Baltimore reports a good gain; also
Richmond
There is gain in Louisville Memphis. Nashville
and Chattanooga, but u lateness of the cotton
movement in the Middle South and Southwest has
ca used Il decrease at New Orleans and some South
western points. Comparison is made below OF
bank exchanges BY sections covering three years;
also average daily figures for the year TO date:
UNITED STATES STEEL DIVIDENDS.-By tho
close of the current year the United States Steel
Corporation will have paid S262S54.579 to common
and preferred shareholders since its organization.
OF the amount in question $l93s559' represent dis
bursements to preferred shareholders ard S6S59sS3
dividends TO common shareholders The total pre-
ferred dividends since the steel Corporation vas
organized amount 20 Az per cent, and common
dividends TO 13lA per cent. With the exception %
the Standard oil Company, the Steel Corporation
pays more to shareholders than other indus
trial railroad company in existence The Steel
f-o~r,v,tioD however psvs many million dollars
more in dividends and interest than TIE Standard
Oil Company pays in dividends The latter
pany. as is welI known. has no bonded debt.
BANKERS LIFE INSURANCE. INCREASES
CAPITAL--The stockholders Of the Bankers Life
Insurance Company at a special meeting yesterday
unanimously voted increase the capital stock OF
the company from 10000 to $21c.cl0.
THIRD AVENUE RAILROAD MEETING POST
PONED.-The annu al meeting Of the stockholders
Of the Third Avenue Railroad Company scheduled
for yesterday postponed until November Is
GOOD ADVICE FROM BROKERS-Sone OF the
most influential commission houses in the Street
are advising their customers not to sell stocks
short in the present state OF public feeling and the
disturbed condition of the market Operations on
the bear side being limited by special pressure
brought to bear upon certain houses which have
followed stocks down.
DIVIDENDS Observation-Disclosures have been
declared as follows: Lehigh Coal and Navigation
regular Sem-annual per cent payable November
=: Kansas City Railway and Light Company
regular quarterly Ia per cent the preferred.
payable December l. and GOldEeld Consolidated
Mines Company monthly 10 cents share, payabs
November %
SHERMAN BANK To OPEN.-The sherman
National Bank. at 34th street and Astor Court. IN
the banking rooms formerly occupied by the AStOr
National Bank. will open for business tomorrow.
November G. Tie company has capital df $500
600 and $4,000 surplus The officers are, Edward
Q. Smith president William r. AIaclay, vice-presi-
dent; Charles c.. Colyer, cashier.
NASSAU BANKS STRONG POSITION-Ths
Nassau Bank reports increasing deposits its figures
for the last week showing substantial gains. L has