New-York tribune., 1908-04-09
TOPICS OF THE STREET.

FOREIGN TRADING--Foreign houses operated
only on the buying side in this market yesterday
taking about 10000 shares in all. with Union Pa
cifc Atchison and United States Steel among the
stocks purchased American stocks n London were
strong and advanced moderately in the trading to-
the account. but were rather weak on The
curb. The general market was quiet. but closed
firm
STATE OF THE COPPER MAREET-Tts
United Metals Selling Company IS understood 70
have made sales OF electrolyric copper this week
basis Of 1859 pound. and several sales a.
iSl=c are reported Producers report the domestic
demand for copper 70 BE satisfactory
SECURITIES LIsTED-The following securities
nave been added TO the Stock Exchange list 81
5950 additional first refUndins mortgage convert
ible per cent bonds OF the Brooklyn Rapid Tran
sit Company. Sl-25o,Oc0 additional : Per cent re-
funding and irprov errent bonds Of 1855 Of te Chi
caso & Eastern Illinois Railroad Company, S1s5ooo
1851 OF the St Louis & San Francisco Railroad
Company S. -e9, 600 first mortgage Per cent ffty-
vea- coupon bonds OF 1882 Of the Cuba Railroad
Conlpary sI115On0 additional conso.idated mort
gage Per cent Efry-ysar bonds OF 1852 of the Ha-
vana Electric Railway Company. S6S35ooo E1ei-
table Trust Company certificates OF deposit fo-
general lien and convertible nnorrgage Per cenJ
bonds Of 1882 OF the Western Maryland Railroad
twen1y-year Per cent coupon bonds of l.2+ or The
Michigan State Telephone Company
NEW DIRECTOR OF TRUST CoNfPANY.-
Frederick Townsend Martin has been elected a di-
rector OF the Metropolitan Trust Company. % M
vacancy
AIR BRAKE BOND ISSUE RATIFIED--rhs
stockholders Of the New York A,r Brake Company
AZ a special meeting yesterday authorized ths
placing Of mortgage on the cCu-pary's property
10 secure an issue Of $3,0oo.U9o per cent tTsaly
year convertible Bonds President Starouck s4ys
that the securing q the subscription right for ne
bonds 10 The stockholders az So thereby prs
serving 10 them ali underwriting costs and pronts
IS considered by the management 20 ta saoS,an-
1al distribution recornyensius th=n tor the losS
OF the current quarterly dividend
WESTERN ICE-The Hudson Trust Cornpany.
trustee or the stock Of the Krickerbocksr -ce
Tra1r 49, al
lateral mortgage bends OF the Western Ice com
pany. has been requested 70 acI agent tor t.7
distribution of the dividend scrip recently declared
by the knickerbocker Ice Company on its common
stock, which under authority from the WeSteit
Ice Company may be used Tor the payment am
retirement Of coupons Of the bonds which -,ttlret
January I. 1908 Holders Of such COUPONS NAV de-
posit them in the ONCE OF the Hudson TruS- com
pany against Its receipts
COPPER QUOTATIONS. AGAIN LOWERED
The New York Metal Exchange Hss lowered 10
asking quotation for all grades ~ c00per y, a
pound Lake is quoted er 1c-sc r'd and ~,
asked. electrolytic 1214c bij aud rs asked an
casting rlzc hid and 12'Sc asked
! IRON AND STEEL CoNrIrIoNS-'IE lro'
AgN'' says
The feeling anons ulanrssc ;l.rNrS - iron and
il that prices should be maintained. althoush
II is admitted that this Is likely be difficult
during the next few months than during The periHN
after the panic, because merchants and consumers
! have now worked off stocks purchased az Oh
prices FOR which they Claimed and got proteC
IL is understood that n lowering of prices should
/ become desirable ContlnEenCy which The l7A1H
| facturers admit-then no action wtl be tsk-u ~
the leading interests without prior consultation n
other words the iron and steel trade Is CoInn,ite9
| To orderly adjustment OF values The statsti'S
Of production OF pig iron collected by show tha
/ the output in March 1.e2S,2O4 gross tons. -
compared with l.075.T4O tons in February "A Sa'i .
| month. Still entered the month Ct April Win q
reduced capacity work. II being 25S,5So tons en-
| April I. compared with 267.4S on March L tht
unknown factor in the situation so far as the me-
| chant furnaces concerned Is ths question: O.
| stocks. IL ia We'll known that there has osen >
| considerable accumulation"
| The Iron Trade Review SAYS
| AS for a number OF weeks. activity - conrnN'
to a large extent tin plate and wire produc $.
although there Is sor7e Improvement IN sheetS ar
/ tubular goods Al the recent meeting OF man.
! facturers in New York. the sentiment vas srronSN
| IN favor OF maintaining prices. and there - ne
\ prospect OF reductions The pig iron marker So,
tinues extremely dull and persistent reports ot SIS
| birmingham. being shaded are heard In tha Csu
/ trail West leading producers who have been ~
herring u the Cleveland agreement Efade N -
ruary have lowered their IOtationS. but are Sl''
I acting In harmony An enOrt IS brinS rlaN9
obtain the CO. operation of Southern interests ="
/ attempt TO maintain reasonable prices t'N'
/ monthly blast furnace statistics show daily p
duction of Ss.Sis tons during March, as asai-ss
! S',+1s tons during February.