New-York tribune., 1909-07-23
TOPICS OF THE STREET.

FOREIGN TRADING-Foreizn houses Sss
twenty thousand shares in the local market
slightly on balance In the London marsst =
were heavy. but the general list showed
undertOue. with some strength In the =
shares. Can money was easy and dise0grs /
r1ained unchanged The Bank OF England ! 4
no change in its minimum rate and showed /.
weekly return a proportion OF reserve % d
OF 52O5 per cent. against . q Per cent IN ts
ceding week and 5015 a year ago COnunsa-
counts remained at Wednesdays level
THE SILVER QUESTION-One Of ths 4
contributions TO the study Of silver IS a p1-
entitled The Silver Situation" by James
Cmsted. a well known financial writer. Takz
recent discoveries in the Cobalt and Lz
River fields in Canada for text, the write, 7
that the production from these sources n
beeu responsible for the recent severe ds,z
In silver quotations The first great fal
price OF silver took place In the decade ~ z
largely because Of the failure and final a'1
rnent Of the attempt OF the C-Ited states 81
meut TO sustain Tie price through Absz
chases Numerous Instances are given Ehai-
withstanding a material increase in the pfol
OF the metal. It's price has advanced IN ne u
enlarged production. or the year subseqleal
author argues that there are many factors r
have governed the price OF the eoumodtI 2
from the effect OF enlarged output Al-l
facts and statistics are presented 10 STOW
these factors. the importance of the ValIl
mand from India as II is governed oy am
wears OF prosperity or famine Inc dslA
panic in the United States in 1901. which diso'
the trade OF the world. Is considered oy tns .
10 be sufficient explanation OF the sxtrems p
sion in silver in the last two years. ~ p
IL IS held that the industrial recovery noN =
way IS an important element n tustilylns ~
hoDefuI view Of the future OF the white =
other favOring conditions are the increas-s
for silver in subsidiary coinage, aSsured =
larly by the steps taken by the LATIN ID.
bv Germany TO increase the circulation
sidiary coins: the agitation Tor reform
Chinese currency and the increased cols-r
which is assured by the remarkable de'eS.
OF trade in the Orient and the prospect
portant development OF the resources u
America and other silver-usiuE countries
REPUBLIC IRON AND STEEL DlllD--
The directors Of the Republic Iron and s's-
pany have declared n dividend Of s.. Per =
the preferred stock. payable IN instal'el-
rate OF three-quarters OF : per cent On -
and I per cent on October IN eacn OF =.
1910 TO 1915 inclusive. The dividend IS tol =
amount OF accumulatiOnS on the preierIe4
l. 1909 and holders OF record as OF Jl4 =
are entitled to the entire amount OF - p
Warrants for these payments VIII os -
August l. for which 4 market value WI! =
Iished. Earnings OF the company -
higher at present than in any CorrespondAs
since its organization. It is reported tA-. =
preferred stock held n the treasury VIII =
al par for the construction of new Steel H~
UNFTLLE.D STEEL TONSAGE.-Tne s-a
OF the UniteG States Steel Corporation iof -
ter ended June 50. which VIII le mads p-1--
week. probably viii show unified orders = :
Of i.000. 600 tons. the largest reported sincs
ter pIrt of 1907. The new price sched~'
United States Steel Corporation VIII oeeoA1
ative early III August. Shapes and plltes -
will be advanced from 81 35 TO 81 30 per lyi y
and steel bars from 81 p 70 81 80 per j"
II Is also likely that wire products VII pc a.
NATIONAL BANK OF COMMERCE
department for Central and South AHe.'os q.
ness has been opened by the Naton4. -
Commerce, of New York. Formerly go
payments in certain sections Of Centrai a.
America were made more adv1nt1 geouSI
way of Europe. but under the new arrasls Il
the Bank cf Commerce collections and e..
ments on these countries Will be handed az
the present gold export movement % A As-- -
largest amount has been shipped BY ths -. -
SOUTHERN IRON AND STEEL--Ins -
of the Southern IrUn and Steel COMPANY - !, II
that large sums have been approprisl1ss i
the plants of the company IN prime eo-.--s ~ 4
that repair work will begin at once - AZ
plants VIII resume operations OCTOBER -
Will be working by January I, 1917 80
various departments of the company -
are all veteran Alabama iron and steer -, ,,,-v5s
AMERICAN STREET RAILWAY - 4
MENTS-"The Electric Railway l-stSi
issued its usual annual supplement- oI 1, Z 4
street railway investments Exaniiiia'i,u sssu -
work shows that the utmost care las 80
in its compilation. and that the mater lsl-.s-ors
therein will prove of great value 20 - - Il
students Of the street railway ss
country. IA 81
COPPER PRICES HIGHER - - Al 90
Exchange has advanced the quoted - ~ ,sf %
&c In the bid for lake. &c IN the - sssS
for electrolytic. and isc in the Olu - - st -
casting Actual business is being Uo1-na-se
slightly above those quoted by the -
NATIONAL. LEAD DIVIDEND sss,--ll,rsi
the National Lead Company nav ssnt @
regular quarterly dividend OF IA Ps.
preferred stock. payable on Septemnel