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

-ap-scN TRADING--Poreigu houses were not
active Il the local market, dealing in only q few
sL-,~sa6 shares mostly sales In London consols
,srs strong and foreign bonds firm The general
,,s-ket was quiet and steady The new Russian
5nT- rss quoted et one-egl3th Of I per cent dis
,osrs and the Sac Psulo loan az AZ per cent
~~erlraL call money al the British capital was
sssjsr xno discounts EFere lower The Bank Of
Fnglszd secured f5a9Oo0 of the South African gold
80 ssa6sa Eent 20 the Continent. which paid e
birh zrioe fer IL In addition the Bank Of England
bsgsht $1,000 bar gold and received 10000 from
Esvpt and tsl, coo from Switzerland.
r0SD MARKET BCLLETIN--Fisk & Robinson
"a tkeir February Bulletin say: The feature Of the
grsatest interest IL the government bond market
tor the lsst month vss the recall by the Secretary
~ che Treasury from national banks Of S5,00o,G0o
T7nIted states deposits-s5 0oo.e coo payable be-
sora JANUARY - ard s1ao00a0o on or before Feb
-us-v 10 From each Of eight hundred banks hav-
;ng deposits Of $4,000 S50o0 withdrawn, making
total Of about 100000; the balance. amounting
- q 00oN was called from the larger deposi-
-aries While substantial part OF the deposits
u-ithdrzwn from the smaller banks secured by
United States bonds. IL understood that the
hulk Of TIE amount was secured By stare, rnu-
ricipsl ana railroad bonds. Although in many
rsses released government bonds were Immediately
-edepesited 70 secure circulation, a considerable
snoani largely the 2s Of 1870 and the old Panama
2s EeTe oueced Tor sale IN consequences llsIe
wss sharp decline IN the price OF these issues
amounting 70 Llree-lolr1As OF Per ceIl' L AZ l-is
lew point she - OF 1888 were offered at 1oz1 and
interest while the old Panama . were offered at
~ and interest which were the offered prices at
the close The market for the Panama IS recently
sng5 hv tbs government was the least affected As
onlF limited amount OF that issue had peen
lodged IL the Treasury Department 10 secure de-
rasits few bonds were pressed for sale, ano quo
-sions closed about one-fourth OF per cent lower
fhzn al the opening. At the low level there was
fair demand for al issues Of Is particularly the
new Pansras from banks desiring 10 take out
ciTcgstion being attracted by tbs profit TO be Sc
cured therefrcrn OF II PER cent q year IN excess
q the return from lending the net cost Of the
ba,ds MANY banks anticipating the date fixed for
re return OF deposits. sold their bonds, wiilch
would seem 10 indicate that no further recession
Y prices vuoIzd be likely 70 occur at this time
General business conditions would be disquleting
5is they represent anything more serious than a
temporary oscillation In the general upward reho
n previous analysis of the progress made IN t1e
-erfVgl Of business pointed out that temporary
rstsFstfo. inevitably would result from tarliI agi-
tsfion and uncertainty 10 the course 70 be pur-
sued sy the incoming administration with regard
"a cn-anrs-e interests II interesting I'm this con-
nectien TO note that anomalous SITUATION mas
arisen On opposite sides CT the Atlantic ABROAD,
-nftczs t-snoTilJfrv prevails. but business Is
rs-asxhst embarrassed by high Official money rates
Incident 10 the Russian loan; while al nome. a.
though money IS plentiful and cheap, the settle
.e-f Of polItfcsi problems is proving a ceteFIehl
q husiueEs activities. Both conditions VIII pass
exsy but in the mean time on this @ sac or tLe a.
sftz-sr ,rosrs xiii have 70 be made between III
ress-ne-ts IN bonds and lending money ABROAD, II
ozder 70 secure g reasonably satisfactory return
Urse- existing circumstances II seems ssIe 70 Po
DICT 3 Continuance OF the present ezce4lent ooho
market" -
THE FINANCIAL. CALENDAR-The Financial
Csisnear for lSO9, published By ne finanCal
;-r s,,azr-r-cs yesterday The calendar covers
e-srr dividend paving stockholm Canaoian anu
s-e-5cg-,--tre stocks listed on all exchanges ana
81 unlisted mining. curb. etc.-aho Sioms - - -
trtus official dates IN advance FOR tne year s9' kL
dividend meetings for payment OF DIVIDENDS: 1oT
hooss onenirg and closing for selling ex DIVIDEND
fnr annual reports. for annual meetings. anu
cu,nplese list af transfer oinces-
VULCAN EJETINNING.-An evidence OF oetteT-
nsnt n Industrial conditions is tie tact that 1nS
Facan DetinnInE Company. beginning TO-DAY, VIII
both of SIS plants their fun capacity heNIhs
Contracted for enough raw material at adyan-
tsssous rrices 10 supply the factories during the
s-tsre year The conpauys entire production OF
IL for this vesr Is already sold and its output OF
Eiesi scrap Is engaged f0- the next six months
ROCHESTER RAILWAY DEPoSITS.-Over 20
pe cent OF lrre preferred stock Of The RocheSteI
8sl7ay Company having been deposited VII VIZ On
Guaranty Trust Company, under their leiler oI
Decsnbsr Ig 1903 and the consolidation asreeIneilI
hsy-lE been eppToved notice is ROW gwen IEat tie
-Ee for further deposit OF such stock Is exIehoeo
oFshrUs-y 10 1ea after which date oeposIls VIZ
= accepted only on such terms as may oe mere
t-T fixed The exchange Of this STOCK heo Deeh
S-asTTTittsn BY Speyer & Company
COPPER PRICES LowER-The local Metal
Ehsnge has reduced its quoted price = IN the Dlo
sae asked for all grades Of copper. Sales OF elec-
5olyuc copper were made yesterday at lS1z cents
poSno, The lowest figure in the current oo"h"aru
nsEsseat The large producers and seliihg
sEshees are doing nothing
--AcKAWANNA STEEL NOTES-The Lacka-
sstta steei Company has sold 70 speyer d 90.
AaMszs o2e-yesr per cent secured gold notes
aks ID TIE same ar cunt Of its notes falling due
March ! lse
=-N1EHAATJONAL HARVESTER.-The olrec-
- - o ths International Harvester Company nave
sS.@1a the regular cuarterly dividend OF ~ Per
- en Ihe preferred stock. payable March L