New-York tribune., 1909-05-13
TOPICS OF THE STREET


--opr1GN TRADING Foreign houses were not
,a factors in the local market. London appar-
sC being disposed TO await developments in the
sit-s isi,or situation. on balance 5000 shares were
Pas For arbitrage account The British market
met closing firm. with strength in American
,s on the curb. especially in Erie and Union
1sssec call money London in better de-
rsnd though not appreciably changed as tar as
- were concerned Discounts were slightly
IT, Paris exchange London remained at
nsas5avs level. while the Berlin rate declined
-. .+4ONTAS COIIIERIES BONDS.-Redmond
- Of New York and Philadelphia, who have
g. he greater part OF the $.50000 Pocahontas
Undated Collieries Company first mortgage
" cent sinking fund gold bonds. due 1857, oner,
pL,er- 10 sale and advance in price, the unsold
ttca Al 50 and interest netting the investor over
- sr cent These bonds secured by first mort
80 IN the entire property Of the company, with
e exception Of issue of 'Sl.076.ooo bonds on
.-4,on Of the property. An ample sinking fund
Po,j5es for the retirement of the bonds at not to
f.aa5 105 and interest. The financial condition OF
,be company is excellent. Its net earnings for me
80 six years as officially reported have never been
- than three times the interest charges ana
es,er deducting tie sinking fund have averaged LOT
- last six years over four times the interest,"
charges . ,,,,,,,,,-,,
c-a-lL Dodge & Co. Moffat & White and Lee. Hig-
cfnson & Co are Offering at 1914 and interest," 10
ield 81 per cent, S213l.ooO Great Northern Ran
-, COMPANY Eastern Railway Company OF MIN
,ssota northern division. per cent hlor'sase
tss @or r,uhlic sehscription. This is part OF
n authorized issue Of S150ooooo. OF which ~ 'voVpV
tS outstanding. The bonds are redeemaole al Ioo
a,5 accrued interest after April !. 1925, on three
,s-or-rs' notice and no more bonds VIII be Issued
--n6e- this mortgage owing to the acquisition OF
the property by the Great Northern. Iney are d
go. investment for savings banks OF New 1plh
s5a connecticut The bonds are direct oolgauoh
~ the Great Northern Railway Company, at the
Tzte Of S40s5 mile and are secured by hrst mort
go on "a IS miles of main track, 50I5 miles OF
ssseon5 track and IS2 IS miles of side track
SECURITIES LISTED.-The following securl-
ties have been added TO- the Stock Exchange hst'
civ Of New York sloOOo,eoV per cent vi
norafe stock; sl.5000OO additional first mortgage
( per cent bonds. making total listed SlO'ooV'oUo
NJ the Elgin Joliet Eastern Halfway company
s910 006 additional first mortgage per cent
7ve-y-ear sinking fund coupon bonds max
ing total listed S3,e41.00o Of the Union Sag ana
Paper Company; s1Soooo additional capi'al oo6
p ~ the Mexican Telegraph Company SN-sNS'S-0
csnitsl stock Of the Batopilas Mining Company
500 0S4 600 general lien ffteen-twenty-year bonds
of the ST Louis d San Francisco Railroad COM
-. ssQ n7 400 prior lien ! y per cent ffty-year
sinking fund redeerable bonds S52,63S,4oO guar
sn-eed general mortgage per cent seventY-Eear
sinking fund redeemable bonds SZe' so,VVV non
cumulative per cent first preferred stock ana
s122 Ss5 600 non-cumulaIive per cent second pre-
ferred rominative stock OF the Ferrocarriles Ma
c:onales de Mexico National Railways OF Mex
ioo)-
LARGE COPPER SALES-Sales of copper since
the first OF the current month have been larger
than reported in any similar period In years, II
an be stated authoritatively that since May
sales Of copper exceed 125.000,U00 pounds. II Is
understood that one Of the leading agencies has
disposed OF more than SO.0o0.060 pounds OF the
foregoing amount Prices have close TO lS
cents a pound. and deliveries Of the copper sold
run as far forward as JULY The most OF the
copper sold was on account OF purchases made
by domestic consumers. If sales continue as
large as reported over the last week OF TWO
stocks Will show a heavy decrease in the current
month
DIVIDENDS DECIARED-Diyidends have been
declared as follows: Brooklyn Rapiu Transit, reg
ular quarterly per cent payable July To- New
York Honduras and Rosario Mining Company
regular monthly / per cent payable May ~
National Biscuit Company. regular quarterly 2
per cent on the common and q per cent on the
preferred: American Sugar Refining Company,
regular quarterly 3 per cent on the common
and q per cent on the preferred payable July z;
Homestake Mining Company regular monthly 90
cents; American Railways Company, regular quar-
Jterly II per cent, payable June 15' New York
Philadelphia & Norfolk Railroad, regular semi
annual per cent, payable May 81.
WASHINGTON TRUST CONPANY.-The Wash
ington Trust Company has acquired control Of the
Federal Safe Deposit Company, which has adjoin-
ing Offices IN the Postal Telegraph building. The
Postal safe Deposit Company was Incorporated in
1906 and has capital Of 100000
ADAMS EXPRESS DTVIDEND--The Adams
- Express Company has declared a dividend OF - a
share out Of the earnings from the express busl-
ness and dividend OF 81 q share out Of the income
from other sources. payable June l. Books close
May l. and reopen June /.
GOLD EXPORTS-The National City Bank en-
Eaged 100000 in gold bars yesterday for export 70
Paris Heavier engagements Of the metal would
have been made II the Assay once had been able
20 supply II Exports Of gold since January nave
been as follows: To Argentina, sIs,55o, 900; 10
Brazil, oo0; 10 London s13. $4,000. and 10
Paris. s7,400000-a total Of S42,20 600.
INTERBOROUGH RAPID TRANSIT.-At the
annual meeting Of the Interborough Rapid Transit
Company, held yesterday. August Belmont Z J.
BeTTgnd. James Jordan. Morton F Plant and Cor
nelus Vanderbilt reelected directors
FRISCO IS ADVANCED-On account Of large
sales in St Louis & San Francisco Railroad Com
psny general lien I5-2O-year 5s. Speyer & Co. have
sell T1rir ~
and Interest.
WALL STREET FIRM ENI4ARGES ITS QUAR-
TERS--Thc New York Stock Exchange firm OF
SVartTout & AppenzeIlar has enlarged its Offices
BY taking the entire third floor Of the building at
No II Pine street.
ADVANCE IN LEAD-The American Smelling
and Refining Company has advanced the price Of
pig lead points. from 4.25c 10 4-30c.-