New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1908-09-04
INVESTORS READ
The Wall Street Journal
TOPICS OF THE STREET.

FOREIGN TRADING.-Foreign houses dealtin
35 900 shares in the local market. mostly sales
In London consols were rather heavy and for
eign bonds were inclined 70 sell off The copper
shares were weak The Bank OF England made a
strong return. showing a percentage OF reserve
TO liability Of $500 the best average Tor tnis
week in any year since 1904 There was de-
cline however. compared with week ago
Open market money rates were easy Discounts
were frmer Gold TO the amount OF $4,000
was withdrawn from the Bank CT England for
shipment TO South America
AUGUST BANK OBSERVATION-DISCLOSURES
says: Those indicia Of trade conditions-bank
cIearings-corroborate the view that recovery
in business is of the slow but gradual type Our
latest monthly compilation. that covering returns
from ninety-nine cities for August. shows that
bank clearings aggregated s10165.15S.997. which
sum represents drop of rs per cent from the
total for July. when Clearing House transactions
were expanded by half-yearly disbursements;
but on the other hand the total just mentioned
reflects increase Of AZ per cent over the fig
for June last In fact. the August total is
the fourth largest noted in the last ten months
of stress. the periods when the figures were
heavier being January. May and July or the cur
rent year. That is side Of the matter. and
perhaps stock speculation is largely responsible
FOR II The other shows us that this aggregate
OF sl0.165.15S. 997 for August last means that
clearings in that month were 1872 per cent be-
low what they IN the time IN 1907.
that they were 21.7 per cent under those Of Au-
gust. 1906. when stock market operations were
very active. and that they SO per cent less
than the total for the like period in 1905
DIVIDENDS Observation-Disclosures have been
declared as follows: Evansville & Terre Hauts
Railroad regular annual per cent on the pre-
ferred. payable 2ta October Is and 2lz on April
10 1899: Chicago & Eastern Illinois regular quar-
terly IL per cent the preferred payable October
1: American SNUFF Company quarterly per cent
the common tan increase OF per cent?, and
the regular quarterly IL per cent on the pFe1erre'
both payable October I; Safety Car Heating regu-
lar quarterly per cent, payable October /; FIug-
genheim Exploration Company regular quarterly
2Is per cent payable October l: Tennessee Copper
Company. 81 . share payable September 30
ROCKEFELLERs' SMELLING INTEREST
v-aIIG Street TCrrD l. he
Teller interests may have sold out some OF their
American Smelling and Refining stock. IT is gen
orally known that they are still larg holders Il
the issues The fact that OF the stock ap-
pears in the of the Rockefellers is no indl-
cation that they interested as STOCKHOLDERS
II will be recalled that shortly alter the Cn.,et
States Steel Corporation was organized very little
stock appeared In the names OF Rockefeller inter-
ests although ii was well known that they were
holders Of several hundred thousand shares
MONEY MARKET CONDITIONS.-Domes ex-
change at Chicago on New York declined Yesterday
TO 2O<, discount from par Wednesday The un-
profitable rates for money are responsible LOT n
creasing interest by banks. trust companies and
other financial institutions in bonds and other n
vesment securities upon which 3is 20 per cent can
be readily secured with practically undouotei
margin Of safety Prime nerca1u4e paper : -
in evidence owing to the shortening OF Hlaturt'les
As approach is made to the last quarter o. the
business year there is less disposition TO pun QUE
paper
RI-MORED COPPER CUT DENIED.-Reports
from Boston the effect that the leading pro-
ducers OF copper have reduced prices Of lake 10
of largest independent interests states that i
Is holding eectrolytic for lie and has disposed
OF any copper for a week past under that price.
A representative OF the large selling agencies.
while refusing 10 quote the actual market for lake
and electroIytic. says that the prices reported
from Boston news to him.
BOSTON & MAINE COMMON DIVIDEND RE-
DCCED-The Boston & Maine Railroad Company
has declared quarterly dividend OF LIZ per cent
on it's common stock. payable October 4 10 holders
Of record September {. The last preceding dis
bursement the issue was Is. per cent on July
last.
COLUMBIA TRUST COMPANY.-The Official re-
port of the Columbia Trust Company. dated August
81 1908. made in response to the call Of the State
Banking Department. shows the company % be n
strong condition. Its deposits over SS+0oo00
and the undivided profit account Is over S23l, 900
These are both record figures for the company II
has capital and surplus Of s.. 0O00 900.
BOND DEPARTMENT NEUTRALITY-SUSPICIOUS.
Co. specialists in New York City bonds have re-
Gently established active railroad bond depart
under the mana cement Of W. Guy Peck. for
merly with Gilman & CluCas, and e. Prescott Ber-
dell. jr.. formerly bond manager OF Tracy & co.
CONSOLIDATED EXCHANGE To CLOSE-At
the request of many Of the members the governors
of the Consolidated Stock Exchange have decided
close the exchange tomorrow. although the
wheat department will remain open usual for the
transaction OF business
EXTRA PRODUCE EXCHANGE HOLIDAY
The board of managers of the New York Produce
Exchange voted yesterday TO close the exchange
Saturday