New-York tribune., 1908-03-19
TOPICS OF THE STREET.

FOREIGN TEADING.-Foreign houses sold about
10 900 shares on balance in this market the prh-
cina1 selling being OF United States Steel and the
chief buying of Southern Pacific American stocks
I'm London irregular. with little price Grange
The general market was dull and featureless- Con
soils firm and the copper stocks showed some
intrrovement
DIVIDENDS DECLARED.-The directors of the
Reading Company have declared the regular semi
annual dividend of per cent on the second pre-
fcrred stock payable May . The regular quar-
terIy dividends of III and 1ls per cent. respective
y. have been declared on tho preferred ana COM
mon stock of the Central Coal and Coke COM
pany both payable April l5- The directors Of
the Electric Boat Company have declared the reg
ular quarterly dividend Of per cent on the pre-
ferred stock. payable April l. The directors
of the Morton Trust Company have declared the
regular quarterly dividend OF 5 per cent. payable
ON March 81 The trustees Of the New York Trust
Company have declared the regular quarterly dlyi-
trustees Of the Title Guarantee and Trust Com
panv have declared the regular quarterly dividend
of 4 per cent. payable on March 81. The directors
of the Fourth National Bank have declared the
regular quarterly dividend OF : per cent payaoie
on April l. The Irving National Exchange Bank
has declared q quarterly dividend oi per cent
payable April I. The directors OF the -ftna Ma
tionaI Bank have declared the regular quarterly
dividend of per cent. payable on Apr1i l. Inc
regular quarterly dividend Of 3 per cent mas peen
declared nv the trustees of the Washington Trust
Company. payable on April l. The regular GUAR
terly dividend If per cent has been declared oy
the trustees Of the BROOKLYN Trust Company pay
able on April I. The directors OF the American
Bank Note Company have declared the regular
March 81
CHANGES IN NEW YORK TRUST COMPANY.
At the meeting of the trustees of the Ne"
York Trust Company yesterday the resignation
of Willard V King as vice-presideut was accept
ed and Alexander : Webb jr. was made second
vfre- -nresident and Mortimer n Bucker third vice
president Walter f. Drummond succeeds Mr
Rrcker as treasurer Mr.. King was recently
elected president of tho Columbia Trust Com
pany.
TIME FOR DEPOSIT EXTENDED-At the
request of certain holders. the time for deposit
OF Chicago Great Western Railway Company
per cent debenture stock with the Bankers Trust
Company has been extended until the close OF
business April s.
NEW STORAGE BATTERY DIRECTORS
The stockholders bf the Electric Storage Battery
Company their annual meeting yesterday
elected f. Z. Bond. A G. Iumphries and William
d. Winsor. to succeed II. P Whitney Thomas
DoIan and II. IL Vreeland resigned The other
outgoing directors were reelected
PEOPLES GAS BONDS BOUGHT-N. w.
Harris & co. have purchased from the Peoples
Gas Light and Coke Company. of Chicago. ST.
100000 refunding mortgage per cent bonds. due
1857. which they will later offer TO investors
PRODUCE EXCHANGE SEATS HTGHER-A
Produce Exchange membership was sold at
ton yesterday for $3.50. an advance of $50 over
the last previous sale
FOR CHANGE IN COTTON EXCHANGE
RULE-A meeting is to be held on March 25 at
the New York Cotton Exchange. at which the
judgment of the members will be asked concern
ing the plan of accepting fer delivery New
York contract cotton stored in warehouses
throughout the South
NEW TRUST COMPANY DIRECTOR-At a
meeting of the board of directors of the Lincoln
Trust Company, held at its office. No. EOS Fifth
avenue. yesterday. Samuel Yer Planck Hoffman
was elected a director OF the company.
IRON AND STEEL CoNDITIoNs-.rhe Iron
Age says:
The volume of new orders booked by the rolling
mills and steel works continues to hover about the
30 per cent mark of actual productive capacity.
There is. if anything. falling of in railroad pur-
chases. which Is compensated for by the better
demand for the lighter lines Among these the
wire trade is conspicuous. 1t Is estimated that
the leading interest is taking orders thus far in
March equal to SO per cent of the business taken
during the same period last year. Tin plate is do
ing well and an increasing number OF mills is
ing put into operation The steel rail trade is very
quiet and car builders have very little work There
is the prospect of more activity I'm locomotive
building. 1t is significant that the ST. Paul road
has decided to build. for its Pacific Coast extern
sion $500 sixty-ton steel underframe freight
and seventy locomotives IN it's Milwaukee shops.
'Fabricators, particularly the smaller ones are
taking structural work at very low prices so that
the question is asked whether they do not in some
ed out, however that costs have been markedly
lessened through the greater efficiency OF lahor
which Is a striking factor in nearly all manufact-
urinS operations. Quite number of small con-
tracts have been closed and fair amount Is in
sight. The pig iron markets have continued dun
and are characterized by an increased amount of
cutting of prices Nearly every district has its
OF what little business is being done by making
concessions.
'The Iron Trade Review" says:
THE awarding Of contracts by the national sov-
ernment and municipalities and buying of wire.
tin plate and other products manufactured by in
terests more or less directly connected with the
farmers continue to be the main support Of the
market. but the decision Of the Chicago Milwaukee
& st. Paul Railroad to begin upon the building of
two thousand stock cars and seventy locomotives
at its Milwaukee shops is an encouraging indica
ton OF increased railroad activity. In some an
ished lines. especially structural material and
maiieaole castings, there v rather surprising