New-York tribune., 1908-09-29
BONDS.
TOPICS OF THE STREET.

EOpr1cE TRADING-Foreign houses dealt in
only few thousand shares in the local naIkel. i-
hl1ving a little on balance. The London market ;
price changes for Americans were small ana maze
arhtraee trading Improbable The general Lon
don market was dull in all departments money
at the British capital quiet, with rates at an
easy level Fortnightly settlement needs were not
heavy.
UNITED STATES STEEL-Iti is estimated that
the net earnings of the United States steel Cor
poration are now running at the rate or SiooVWVev
a year compared with actual net earnings in 1SDi
"a naar1,- @1S1 coo 0Oo It has been announced that
the United States Steel Corporation is now cper-
atng basis Of approximately 90 per cent OF
normal From this statement it would appear to
MANY that the net earnings of the United states
Steel Corporation would show corresponding de-
crease as compared with preceding years. out such
is not the case As result OF lhCiedseu plouU ~
ton the development of many new sources OF IN
come outside of steel manufacture. and higher op-
Grating efficiency, the United states steel corpora
tion under these changed conditions has a much
larger earning power than at any time since II
organized
COPPER PRICEs-Many of the leading pro-
ducers and selling agencies continue to quote cleo
trolytic copper at 13a4 cents pound althougn IL
is pcssible TO secure copper a shade lower. II is
expected that the month of October will not wit
ness anv heavy buying. owing TO the approach of
the election. Copper producers report that their
possible supplies have been sold pretty wei into
the latter part of October and consequently sus-
pension OF buying will not result IN any heavy
accumulation of stocks
MUTUAL. ALLIANCE TRUST INCREASES
CAPITAL-At a special meeting of the Mutual
Alliance Trust Company il was voted TO increase
The capital stock from $5O0GO0 100000 BY trans
ferring s2G00 600 from surplus to capital account.
The new shares will be distributed in the proper
iCu of two shares for every five shares of the old
stock making a special dividend of 10 per cent
The increase in the capital is in accordance with
the new state law regarding additional capital fer
branch trust companies.
DIVIDENDS Observation-Disclosures have been
declared as follows: Fifth Avenue National Bank
regular quarterly per cent payable October I.
Merchants National Bank OF Boston. semi-annuaI
per cent. payable October l. Realty Associates
regular semi-annua1 per cent and per cent
extra payable October is:
ANOTHER GOLD SHIPMENT TO CANADA
Another consignment of gold. amounting to $780,
O00 shipped by national bank of this city
yesterday Montreal The shipment. which
in coin. brings UP to nearly S12500Oo0 the total
transfer OF the metal this season Canada. the
demand for il arising out of the needs OF the Cana
dian banks for crop moving purposes
MEXICAN RAILWAYS INTEREST ARRANGE
MENTS.-The per cent interest maturing on
October / the guaranteed general mortgage 8
per sinking fund rcdeemabIe gold bonds OF
the National Railways Of Mexico will be paid a.
the Company'c Office. No co Wan street on the
thereon OF the payment of such interest. Interest
on the bonds 5Gst described which are represented
by ctrtthCates of deposit OF priority per cent
bonds and consolidated mortgage Fer cent bonds
Of the Mexican Central Railway Company VIII Re
paid at the ot1ce of the Central Trust COMPANY.
this city. ar kidder Peabody & Co. Boston. on
ard alter October l. on presentation Of the Ger
thtates for Endorsement of such payment