New-York tribune., 1908-01-07
TOPICS OF THE STREET.

FOREIGN TRADrNG-Foreign houses sold aront
$1,000 shares in this market principally Of the HIN
issues and United States Steel. and did virtualv
nothing on the purchasing side. The selling was
said to be indirectly for German account Amerf-
can stocks in London were weak closing at net
losses for the day, although above the mornings
low levels 1he general market was depressed
during most OF the day. but improved in the Iats
trading.
APPLICATION TO IIST-AppHcation has been
made to the New York Stock Exchange to list
s375 900 additional per cent hfty-year first mort
gage bonds of the Brooklyn Rapid Transit Com
pany due 1915; Sf,S50.000 additional first consoH-
dated mortgage ; per cent bonds. due 1871 Of
the Brooklyn Rapid Transit Company; s3.50O.os5
first mortgage per cent bonds due 1871 and
S62e 900 additional first consolidated mortgages per
cent bonds. due 194i. of the Brooklyn. Queens
County ana Suburban Railroad Company.
HIGH BID ON NORTHERN PACIFIC DIVE
DEND.-On the curb yesterday zL4 per cent was
bid for the next Northern Pacific dividend on 500
shares. The regular quarterly dividend rate Is II
per cent
LISTED on LONDON ExCHANGE.-Ths Lon
don Stock Exchange has ordered 70 be quoted In
the official list 81 O69 900 additional per cent con-
vertibIe bonds Of the Union Pacific Railroad Cons-
pany and s4s5Oo additional per cent consoldatsd
first mortgage bonds Of the Shawinigan Water and
Power Company.
UNITED STATES CURRENCY FROM ITALY
United States currency which has been taken Que
OF the country by Italians in the neavy emigration
of the last few months beginning return hers.
Boognesi Hatfield & Co. have received HZ.ns in
United States notes and national bank notes from
money. The firm expects that several hundred
thousand dollars more will come from the
DIVIDENDS DECLARED.-The ]. 2. Stetson
Company has declared the usual semi annual d'v-
dend of A per cent IT'S preferred stock and an
interim dividend of Is per cent and an extra div-
dend OF 25 per cent on its common stock. payable
on January Is.
the unlisted department Of the New York Stock
Exchange of the Wabash Railroad Company Unit
ed States Mortgage and Trust Company certificates
Of deposit for debenture mortgage bonds, series
B. has been discontinued
IRON TRADE PROSPECTS IMPROvING-Rog-
ers, Brown & Co say.
The rev year finds the iron trade well on its
way recovery from one OF the most sudden col
Iapses on record. From combination OF top
notch production and aonOrrnally high prices
have dropped perpendicuIarIy TO a production eut
nearly in two and prices well below the average
cost OF manufacture. The blow 10 cOnfdence which
shook the whole country in October inevitably af
fected pig iron consumption. production and prices
along with every other commodity But the iron
trade. as a whole, takes good deal Of Satisfaction
in feeling that in all the recent disclosures OK
questionable business methods the iron trads
has had 10 make few. IL any, apologies for the way
its affairs have been conducted. This condolences
in fundamental iron conditions and the BELIEF thar
the inevitable needs of the country for iron and
steel will soon restore normal demand has quick
ly brought about recovery from the alarulss
point of view, that ObsCured all others rev
weeks ago Never in previous panics mas there
been such a widespread determination on the part
OF manufacturers to avoid OverProduction and ae-
curnuIations of unsod stocks Prospects now ara
for orderly recovery. Neither producers nor con-
srr,ers want an unsettled and demOralized mar
ket so that the very apparent steadytns in prices
will be welcome both The market as We enter
the new year, seems 70 be well established arOund
the basis of s13 30 Birmingham. for No foundry
iron with lake furnaces unwilling to sell FOR less
than SIS and Eastern Pennsylvania furnaces snow
ing a disposition TO advance their quotations 20
about the same figures Quite a volume OF genulno
tno1,trv has started up in the last week or two.
which will doubtless result in considerable ousi-
ness before the month IS out.