New-York tribune., 1909-02-09
TOPICS OF THE STREET.

FOREIGN TRADING-Foreign houses dealt in
10000 shares in the local market buying on bal
ahce. In London consols were heavy and jap
anese bonds were moderately weak The general
market was inactive, except in the copper shares.
"Ilich showed some activity and strength Money
was IN fair demand. activity being encouraged by
me approach of the fortnightly settlement The
BANK OF England secured all Of the South African
gold offered in the local market, amounting 10
10000 The bank also bought fls3eOO bar gold in
tle open market and received gold coin to the
amount or f1o1o00 from Berlin and 100000 from
Egypt. The applications for the new Indian loan
V5lee A premium of three-fourths of per cent
was quoted on the Canadian loan
COPPER PRICES.-The local Metal Exchange
has reduced its quoted price for lake copper sc III
the asked. The large selling agencies and pro-
ducers are making sales of copper at the
price of 1311c a pound and as stocks are accumu-
lating consumers confident that a further de-
cline in quotations will be recorded in the near
future It is understood that the report of the
Copper Producers Association, which Will be
made public in a few days. will show local stocks
OF refined copper hand of about 125ooOOO pounds.
This Is equal to about . per cent Of the country
annual consumption
PIG IRON PRICES LowER--severaI Western
New York producers of pig iron reduced prices
yesterday 10 the basis of SO 90 for No foundry
at furnaces The reason for the cut from SIC is
that a number of the furnaces are oVerstocked.
The prices for prompt orders only Furnace
operators who are responsible for the reduction
will not take orders at reduced prices for ship
ments beyond March
AMERICAN TELEPHONE CONVERTIBIES-
The American Telephone and Telegraph Company
gives formal notice the holders Of its convertible
)
1893 and before March L 1913 and W1tnna suSh
reriod I'D TO thirty days prior to date for the
Teiemption of the bonds. they may convert thelT
bonds at their face value into stock OF the com
pany at such price as the holders may be enttled
to claim under the terms Of the trust indenture-
PORTO RICO BOND SUBSCRIPTIONS.-Atte
ton is called to that the time within which
bids can be filed with J. & ". Seligman & Co for
the s50O00Oo per cent gold loan of Porto RICO eN-
pires at 5 O'Clock February 1e No bids received
after the day now mentioned will be considered.
IOWA CENTRAL SELLS REFUNDING BONDS:
1t is understood that the Iowa Central ttalrodo
Company has sold TO Taller & Co, No q tlne
street its first refunding cent bonds, due ls9
bonds secured by mortgage on 59S miles OF rou
subject to prior lien the rate of only Slo'5oo a
mile Bonds are reserved under this mortgage to
retire the prior liens maturity, so that eVehtuaHS
the mortgage will become a first mortgage
DIVIDENDS Observation-Disclosures have been
declared as follows: United Cigar Manufacturers
Company regular quarterly IA per cent on the pre-
ferred payable March l; Borden's Condensed MIX
Company. regularly quarterly l7s per cent on IN .le
preferred, payable March Is; American Coal Com
panv regular semi-annuaI 5 per cent, payable
March L
WISCONSIN CENTRAL.-Mesargel q Co. or NO
: Nassau street have issued special circular on
Wisconsin Central. Superior Duluth Division nrst
As due 1895 Copies of this circular may be mad
upon request.
COTTON EXCHANGE SEATS SOLD-The Cot
ton EXCHANGE seat of Charles Hayden has been
sold TO c a. Shearson, and the seat OIL ANTONIO
Arcuche to c. D. Freeman, at $4,000 LOT eacll-
STEEL, OPERATIONS.-A Wall Street report
saws that the Pennsylvania Steel Company Is op-
Grating on basis of about 65 per cent OF normal
the Republic Iron and Steel Company ABOUT o. per
cent and the United States Steel Corporation aoou'
IS per cent. -
ANTHRACITE PRODUCTION.-The January
rroduction of anthracite coal 6lSS,SA5 TONS
against 66ls839 tons in the same month last year