New-York tribune., 1908-09-23
BONDS.
TOPICS OF THE STREET.

FOREIGN TRADING.-Foreign houses dealt in
600 shares the local market. mostly sales In
London consoIs were firm. and the general market
was inactive at unimportant price changes. the
copper shares showing moderate strength Money
rates were easy at the British capital and Cont
mental discounts without important change.
The Bank of England is expected to make good
showing in its weekly return tomorrow
DIVIDENDS DECLARED-Dividends have been
declared as follows: Fourth National Bank reg
ular quarterly per cent, payable October /; Ma
tional Bank of Commerce regular quarterly per
cent payable October l: American Agricultural
Chemical Company regular semi annual Per cent
on the preferred. payable October 10; Market and
Fulton National Bank regular quarterly 21a per
cent payable October l: National Park Bank reg
ular quarterly per cent. payable October l; Cen
trail Trust Company regular quarterly 10 per cent.
payable october l; Bankers Trust Company reg
ular quarterly per cent. payable October 1. and
Morton Trust Company regular quarterly per
cent. payable September 80.
STERLING RATES APPROACH GOLD EX-
PORT LEV EL.-Sterlng rates yesterday advanced
approximately to the gold export level, when the
market experienced maximum advance Of s.
points, selling up TO 4sSs4 for demand sterling.
The upturn. however, was not fully maintained.
and In the afternoon rates fell about Lac. Never
theless International bankers began figuring
additional gold exports to South America, but
negotiations were concluded The subsequent
break in the market upset calculations, but bank
ers said that more of the metal might go out be-
fore the end of the week
LONG ACRE ELECTRIC LIGHT AND POWER
COMPANY.-The Public Service Commission has
received application from the Long Acre Electric
Light and Power Company for a rehearing it's
prior application for permission TO issue SOO00O0
preferred stock and $50000.oO0 in mortgage bonds,
which denied by the commission last June
after series of hearings The petition for a
hearing is signed by John c. Sheehan and Graham
& IsAmoreaux. attorneys for the company. The
petition presents twenty reasons for asking for
rehearing, and the last reason is allegation that
the action of the commission is null and void for
the that the Public Service commissions law
is unconstitutional
THE STEEL SITUATION-Orde~s received bv
the United States Steel Corporation over the last
two weeks show no dt as compared With the
first week Of the month. 1t Is estimated that the
Steel Corr ton will book 600 tons ~ new
steel business in September, an amount in excess
OF the tonnage actually produced. THIS would seen,
10 indicate that the statement Tor the quarter
which will end this month. win show tho first in
crease In untitled tonnage since pccembSr a. 1895
The slump in stocks has had eject on the Ste.4
situation yet although q prolonged period Of
market depression win probably hesitation
the part OF consumers
REGULAR GREAT NORTHERN DIVIDENDS
The directors OF the Great Northern Railway have
ferred stock Of la per cent. payable November .
the I'm shares accompanied by the report that
the Great Northern dividend would Re reduced but
pointed in The Tribune yesterday, this idea
was not encouraged in wen informed quarters No
action has Vet been taken the Great Northern
ore certificates dividend.
OCTOBER DIVIDEND DISBURSEMENT The
mated TO exceed s135,OOO.o00 Up to the present