New-York tribune., 1909-05-20
q0PICS OF THE STREET

,z7l.N TRADING.-London a heavy
tOt' - stocks in the local market for the first
~, IN many weeks. its purchases amounting to
o1 of 6nGo shares The heaviest buying was
uPE1-le..5 states Steel common The persistent
3 t,.ss of the local market apparently was the
- factor in inducing change In the atutQde
cse1t foreigners. The general London market
q IN l.ee~1lar with firm undertone. with strength
Fas American department, Steel common selling
y 'Le ~ rrice not reached in this market until
= Cau money at the British capital was III
- demand and the rate was firm at ] per cent
ss--Ao,,t the day. Discounts were higher. Con
taIors-Is taIo+aI markets showed no important changes
I-r M n EXPORTS The National City Bank has
0Ca7 s5aa U0 gold for shipment to Paris. and
tls5 Freres viii ship Sl.00o.o0O gold to the same
IL IL the greater part Of both consignments be
= n eoin Hallgart"n & Co have taken %5eltp
=. ,oir for export 10 Buenos Ayres- In add
~ .o this amount the steamer sailing to-day for
lay-,-+ira will take 100000 gold coin shipped
re National City Bank and S2co.0l0 by the Ma
81 Rank Of Comra9rCe Total gold export en-
lo-s-,e:l-s since January !. Sj0.59l.573. The en-
sssroent OF so mUCn gold coin for Paris was re-
800 with considerable surprise IN hnanclal cir
-, es II was not thought heavy exports of the
- in this form could be made at prevailing
e. EstSanrs rates The bankers making the ship
--rs announced. however. that they were not
,l,r money on the operation The Bank of
T.7ee is not allowing interest on the gold in
Isit hut Ereat care is being exercised in the
,ec-ion OF the com. double eagles OF fu!l weight
- being taken. II is not unlikely that further
80 engagements win be made. unless there
mid be a marked change in sterling market
ouoiations-
PHILADELPHIA COMPANY SELLS BONDS
-ss directors Of the Philadelphia Company have
,,hor+ze5 an issue %: S50eAee0 ten-Year per cent
ssssnrllre bonds convertible into common stock OF
- company the basis of twenty shares of stock
a. each bond OF par value Of Sl.oeo. The COM
ssnv has sold z,JeoooJ Of the issue TO Ladenburg-
Thalnlann & Co and Blair K Co. Of New York
n order proyid for the conversion Of these
6o,ds special meeting OF the stockholders Of
he Philadelphia Company has been called for
Tuv . 10 authorize an Increase in the capital
from
SRnea being in common shares.
pITTSBURG YOUNGSTOWN & ASHTABUI-A.
Tbe operating results for 1908 Of the Pittsburg,
vornrstovn & AshJabula Railway Of the
ps-nsylr-ania lines west Of Pittsburg show total
-rncs for the wear Of SS5SS 092 81. against S5565
= in 1997. loss Of SL9T1sil so. 80 per cent
IN spite Of this heavy reduction in earnings
were increased from S2SSSl Il in 1897 TO SlS7 924 -
rgN Total expenses for 1908 s., 1872 OIL %.
yE25e5 S. less than in 1897. reduction OF p 65 per
ort Net earnings from operation were thus A'396.
Gg or Sal51l5 1880 per cent-less than in 1897.
Extraordinary expenditures the amount OF S212,-
IS we're charged against earnings
COPPER TRADE CONDITIONS-Sa Of cleo
t-olrtfc copper were made yesterday at 1875 cents
pound However. certain selling agencies were
shsde below l3l. cents for copper for delivery in
July. While the demand for the metal is not so
heavy as IL IN the early part OF the month,
Transactions are comparatively large
DIVIDENDS Observation-Disclosures have been
declared follows: American Gas Company, Of
Philadelphia. regular seni-annual per cent, pay
able June !. and Associated Merchants Company.
regular quarterly - per cent on the common and
the regular extra = Of per cent. payable June /
APPLICATION TO LIST.-A ppcation has been
made the SJoC- Exchange to list Sll.noo000 gen
eral refunding and Improvement mortgage per
cent bonds Of the Chesapeake Ohio Railway
Company and Se.e2opG8 additional stock Of the Con
solidated Coal C2mpauy.
CENTRAL TRJ ST COMPANY SHARES on
CCRB-The Central Trust Company's old stock on
the curb SIS bid Yesterday afternoon, offered
al S,g@ The new shares were $500 bid, offered at
aGn
COTTON EXCHANGE SEATS SOLD.-The
second Cotton Exchange membership Of ". II
JCoson has been sold 10 L. L. Fleming for $1,000
The membership OF Edwin Shields has been sold 10
Richard A Springs for So soc.
ST LOUIS ScETHW WESTERN BONDS.-The St
Louis Southwestern Railway Company has sold 70
Taller d Co. an lssue Of per cent car trust equip
neIi bonds maturing annually 10 1918 inclusive.