New-York tribune., 1908-03-04
TOPICS OF THE STREET.

FOREIGN IRA DTNCf.-Foreig- houses bought
about 12nH0 shares OF stocks o7 balance in this
market. the principal purchases being OF the cop
per stocks. American stocks in London II
regular and saEgiHg. bur developed frm1sss in
TIE curb trading Tha general market in London
steady but inactive. and COus0LS were heavy
DIVIDENDS DECLARED The directors Of the
American Beet Sugar Company have declared tha
regular quarterly dividend OF IL per cent The
preferred stock PAYABLE on April T. The directors
the General Chemical Company have declared
the regular quarterly dividend OF IL per cent On
the preferred stock payable on April Z The di-
rectors OF the St Louis & san Francisco Railroad
Company have declared the regular quarterly ,lfvi-
dend Of l per cent the frs preferred stock
payable on April L a quarterly dividend ~ -
PER cent. payable April l. has been declared On
the stock of the Chicago. Rock Island & Pacific
Railway CoupaEy-
CITY CASH FOR TRUST CouPAHY OF
AA1ERTCA.-The City Chamberlain has made
deposit of 10000 of the Citys fund with The Trust
Company OF America. the first amount placed in
that designated depositary since the panic last
autumn. al which time the rirv reduced irs de-
posit in this institution 70 practically nominal
figures
GRANNY DIVIDEND PASSED-T-a directors
of the CRANKY Consolidated Mining and Smelling
Company have passed the dividend on the stock
deferred. The quarterly. rate until three r7or-hs
ago was per cent. with per cent extra
COPPER QUOTATIONS AGAIN REDUCED
The New York Metal Exchange has lowered Hv
now quoted ar l2AsQl2ssc pound. eIecrroIyric ar
12l4G12l7c and casting ar 1c-saI2ssc
rail mill Of the Bethlehem Steel Corporation one
day last week turned out more than -0d.s tons Of
steel rails, d new high record production. The
Corporation has received sufficient specifications 10
warrant the statement that the rail rD7If will ha
kept in continuous operation for several months
FOR PAYING OFF RUBBER NOTES
United States Rubber Company has completed 4--
ranGeIrerjS tor paying on AZ par The SS.0|".J40
per cent notes maturing on March l5 The new
financing viii Involve the issue Of a corresponding
amount OF one-Ve7r or twO-year per cent noIeS
nE
National City Bank. IN its monthly circular saws
IN part At no time in recent years has the CON
dition Of receipts and expenditures had so i'm
p"rtant bearing on Treasury policies as now.
During periods OF overabundant revenue fiscal
problems. particularly those which relate 10 ma
turing nond obligations are apt be determined
upon other considerations than those involving ra-
For Instance the policy of refundIn-- r9--
of the public debt was adopted not because Of any
inability to redeem, but for the reason that il was
considered unvlse 10 extnguish bonds that we're
available as security for national bank notes Be
fore August next If will he necessary for the Soc
reIary OF the Treasury 10 decide what treatment
shall be given 70 the ser cent loan OF 1aosIS Thus
issue originally 100000 60. and the bonds we've
sold to the public IN 1898 to provide funds for the
with Spain. OF the loan only SIS - 100 is out
standing. the issue having been reduced nv re-
funding in the past As the month Of February
closed with the Treasury IN possession Of Al avail
able cash balance amounting 20 S267.Og1Cs0. Il
would first blush that redemption II whole
in part OF the outstanding Ss Of Iqs-'IS would
be a matter OF easy accomplishment six months
hence But there Is no DENYING the fact that The
country has entered upon a period OF declining
revenues. and there Is no denying the fact either
that expenditures continue 20 increase beyond The
point Of time at which they were expected 10
decline The movement looking 10 the rederptinn
of national bank circulation is on in fun swing
The fun amount OF lawful money permitted 10. h..
deposited in any one month under the Law.
5000 01. deposited during the month Of Febru-
AIRY 10 secure the release Of bonds held in C!rcula-
tion accounts The same was true of the month
of January. Reservations for March aggregate
s 500 for April IS SS2 About onehslr OF
the amount permitted has been engaged for Nav.
Practically engagements have been made for
the summer months Ii Is essentially a Wholesome
movement and will place the banks in a position
take out circulation again the faH in ease 10
needed The return OF public deposits 10 tba
Treasury. together with the retirement of AN -b..
circulation the law Viii allow for next FEW
months. ought put both the Treasury and tbs
banks ip shape To take care OF any untowa-d con
ditous that arise in the autumn II fh..
banks not especially IN need rf money during
the remainder of tn" spring IL would be ftist IS
well II th4 Treasury were 70 increase its own
cash holdings to as much tloooo1oo