New-York tribune., 1908-09-03
TOPICS OF THE STREET.

EOpETcN TRADTNG-Fcreign houses bought
25 900 shares in the local market with heavy pur
cbases in the Hartman shares and United States
Steel In London the general market was quiet
with Improvement in consols and the mining IS
were buyers Of bills at is per cent. although the
market quotation for short time paper was nor1-
naIly unchanged at 7-16 per cent No change Is
expected in the Bank of EngIand's minimum rate
of discount to-day
DIVIDENDS DECIARED-Dfvidends have been
declared as follows: Interborough Rapid Transit
regular quarterly pa per cent payable October I;
American Tobacco Company regular quarterly n
per cent on the preferred. payable October l;
1sl per preferred: Central Leather Com
pany regular quarterly 10 per cent on the pre-
ferred Calumet & Hecla regular quarterly s.
share; American Can Company regular quarterly
IL per cent on the preferred payable October J.
James H Durham & Co regular quarterly IN per
cent on the first preferred and IA Per cent on the
second preferred. payable October 1; American Car
and Foundry Company regular quarterly - per
cent the preferred and y OF per cent on the
common: American Smelling and Refining Com
pany regular quarterly per cent the common
and regular quarterly IN per cent on the preferred
AUGUST BANK Observation-Disclosures dull
ness in trade usually reduces settlements through
the hanks to the smallest volume Of the year. and
while August bank clsarings still denote consider
able curtailr1ent they are now more nearly normal
than for any month for nearly year. exceeding IN
amount four OF the seven preceding months this
year. r c. Dun & Co report total bank exchanges
for the month for more than hundred cities IN
United States all that report Of SO z36 s77 49,
ia per cent under the corresponding month last
makes the comparison slightly more unfavorabls
than 1t should BE- daily bank exchanges for
the month showing loss OF only per cents
pared with August 1906 the loss IS somewhat lar
ger. this Is mainly due the heavy decrease
New York City. where stock market operations Two
years ago were exceptionally active. raising August
bank cearings above three OF the seven preceding
months. instead Of their being az the lowest point
the year There are again some gains as some
Of the smaller cities but losses In comparison with
both preceding continue to predcnninats. The
August report denotes some Improvement IN the
volume Of payments through the banks. but the
improvement is naturally very slow.
CANADIAN PACIFIC NEW sTCCK-Is ts or
cially stated by the Canadian Pacific Railway Com
pany that while authority is being secured issue
100000 additional common stock thers is post
lively no intention OF Offering IL shareholders FOR
at least year. The company considers that ths
proper time 10 get such authority Is az ths annual
meeting when the shareholders arc brought TO
gether.
sEABoARD BoNDHoLDERs oReAN1zE-pe
fault having occurred IN the payment OF tbs coupon
of the Seaboard Air Line Railway Atlantis g Birm-
ingham per cent thtrty-year gold bonds msturfng
Tuesday, the following COMMITTEES has been formed
in behalf OF the boneholders: William salornon.
chairman; Paul Morton. Benjamin 5. Guinness and
F. ]. Lisman. Frederick B. Van Worst IL counse
and NJ. v. r.. Weyant IS secretary to the COM
mittee.
REFINED SUGAR HI9HER-Rsnnsd sugar
prices have been advanced ten points owing 20 bet
demand for the product and stesdter marks.
for Net basis for standard grsnulated =
cents less per cent cash prompt shipment -,
rehners taking orders OF Gate at the oiH
price OF 4So cents.
COLONIAL BANK TO INCREASE CAPITAL
A special meeting Of the stockholders OF the ~
lonial Bank will be held September Tor ~
purpose OF voting on proposition to increase -.
capital stock OF the institution from Eeo@
100000
AMERICAN CAR AND FOUNDRY EARN
INGS.-Earnings OF the American Car and todnu..s.
Company for the first quarter OF the coihPsn',s
fiscal year CMay to July SD show net returns ret.,sr
ss4O4 compared with s2Ssss7s In the same ausr.<
last year. After dividends on the preferred s. s,
there was balance of $3.50 04l. and afrer co conlsn "a
dividends a surplus of S9.04i. against surplus
the corresponding quarter In 1901 OF SLIes.sS
NEW CONSOLIDATED MEMBERS--Ao..sss
Davis OF Boston. and Herman w Booth o.Is- =.
city. have been elected members OF the Coins
dated Stock Exchange.