New-York tribune., 1908-02-01
TOPICS OF THE STREET.

FOREIGN TRADING-Transactions in this
market for foreign account We're very small, sales
balance amounting 10 about 9.ooV snaIes'
mainly of United states Steel common Fi1eIl-
can stocks in London became firm after initial
heaviness and made slight net gains Tne gen
eraI market was without distinctive feature
Consols steady.
DIVIDENDS DECLARED.-The directors ot
the Consolidated Gas Company have declared the
on March Is The Montreal Light Heat and
Power Company's regular quarterly dividend or
Is per cent has been declared, payable on Feo-
ruary Is The directors of the American FSadla-
tor Company have declared the regular quarterly
dividend of per cent and extra dividend or
per cent on the common stock. payable on March
81 and the "a per cent regular quarterly divi-
dend on the preferred stock. payable on February
Is. The extra dividend is of the same size as
that declared year ago
MOVEMENTS OF MONET-The reported
movements of currency this week indicate gain
in cash held by the banks of 5,136.1 co. nearly all
OF which from the interior Ine banks re-
ceived from the interior s11.515,490 and sent 70
the interior s6.055300. of which s4OOO.000 repre-
sented national bank notes sent 70 Washington
for redemption. The gain from the interior was
s5.520,100.
PRESSED STEEL CAR co PAYING OFF
NOTES.-The Pressed Steel Car Company Will pay
to-day out of earnings the seventh annual in
stalment amounting s50000O, on the original
issue of S5.ooo,000 notes This leaves <1,5eo.ooo
be paid during the next three years The COM
panys annual report will be issued the latter
part of February
BANKS NEW vICE-PRESIDENT--
closed in October. = 1t is expected that the bank
viii resume business on February TO-
CONDITION OF TRADE-~Dun's Review"
says:
.seasonable weather and further Increase in
the percentage of active machinery combined 70
improve the trade situation, although there -
still large number Of unemployed and dealers
proceed cautiously IN preparing for future buSl-
ness. Prices of commodities have declined on
the whole yet products OF the leading industries
are fairly we'll maintained Mercantile collections
are irregular, despite the ease in the money mar
ket- There was I1ttle CIeaSlheSS resaFd1hS l-s
additional bank H0Sings. ii was realized that
these suspensions were only the aftermath OF the
October panic and represented 10 new cause for
alarm. Railway earnings in January IS 3
per less than in 1907. and foreign c0Inuercs
at this port alone for the last week showed gain
s., ,466.915 in exports and decrease OF Si663-
$50 in imports compared with the same week
last year Money is abundant and cheap. even
mercantile loans being made at 5ls per cent.
while foreign exchange rates rose nearer the point
which gold be sent abroad Bank eS-
changes at New York were Isl per cent less than
In the same week last year Whlle az other Leadl-s
cities there decrease OF 12S per cent
More iron and steel plants have resumed and
the outlook is brighter. even railway equipment
attracting more attention The situation IS bet
ter because of the extent TO which consumers
seek prompt delivery. indicating that the recent
season of conservatism has nearly exhausted
stocks. and suggesting that when confidence IS
fully restored vast tonnage of deferred business
will be placed
Bradstreet'S says:
Trade and financial developments have been
IL.
in the direction Cf future Improvement at the
larger centres Real winter weather, long desired
has given a stimulus to retail trade in seasOnabl9
goods, and there has been more done = whole
sale and by JObberS in GrygOOCs and kindred
lines. this buying, however. being of small lots
and for prompt shipment Conservatism in order
ing is noted country wide condition. but re-
cent price reductions have uuQueStionabIy stiTu-
lated interest On the other hand. business for
January has not equalIed by any that done
in the same month year ago. industry has been
rather slack and the report Of the eountrys larg-
est industrial corporation shows clearly the effect
of past disturbances in almost perpendicular
drop in earnings The suspensions of four banks
the metropolis was. after all, only negatively
unfavOrable. these being the aftermath OF last
autImn's financial storm Underlying financial
conditions are certainly no less favorable, money
shows increasing ease not only IN this country
but all the world. and improvement in c0i-
leCtiOnS. which still slow a a whole, Is N
many cases the result of casing money, making u
possible to remit on past due accounts. Ths
weeks failure total Is the smallest a monLa
past
BROOKLYN RAPID TRANSIT DIRECTORS
RE-ELECTED-The stockholders OF the Brook
lyn Rapid Transit Company at their annual meet
ing yesterday reelected the four outgoing dlrse-