New-York tribune., 1909-05-21
TOPICS OF THE STREET.

FOREIGN TRADING.-Foreign houses were
not important factors IN the local market, buying
slightly balance. In London the general mar
ket was strong, though dull trading being re-
strrcted by the holiday the Continent Amer
lean stocks closed firm on the curb. Call money
at the British capital was in fair demand, but
rates were easy, while short time bills were
frner The Bank of England made strong
showing in its weekly return, the percentage of
reserve to liability standing 1850. against
nihe-year average for this time of 4s-26.
'PITTSBCRG, FORT WAYNE & CHICAGO
The operating results of the Pittsburg. Fort
Wayne & Chicago Railroad for 1908 show earn
tngs OF S21.139152 r. as against s25,969,367 81 In
1907. loss of 1850 per cent In spite Of this
REDUCTION in earnings, the taxes assessed against
the company increased from sS42.346 rs in 1907
to $9S6.179 SO IN 1908. addition Of 17.0S per
oent. Total expenditures for the year 1908 were
Sl4750.324 as, reduction of s5.546.429 09 or 2733
per cent. The net earnings from operation, by
reason of the reduction in operating expenses
were increased from S5.672.613 S4 in 1907 to So
3SS,S2I Il in 19OS-a gain Of 1858 per cent Total
profits for the year $1563. .O72 So. against
s1.272324S S4 in 19O7-a gain of s29O.747 IS
GOLD EXPORTS.-Gold coin 10 the amount Of
$500. 900 was engaged yesterday by Goldman. Sachs
& Co for shipment abroad The National City
Bank increased it's shipment TO Argentina by
s25o;0oo. Total gold export engagements since
January l. s51.091,573 The French steamer La
Savoie sailed yesterday with s1,500,000 gold on
board, consigned to Paris by the National City
Bank and Lazard Freres half in gold bars and
half in gold coin. BY the steamer Vasari, leaving
for Argentina yesterday. 50 100000 in gold coin
was being shipped. The National City Bank sent
StSV,bOV, GOLDMAN SaCnS & 60. S0UVrOOu f1dll-
garten & Co. 100000 the Anglo South American
Bank s25e,ooo and the National Bank of Commerce
s2o0;OOO.
|, KANSAS CITY. FORT SCOTT & MEMPHIS
The preferred stock of the Kansas city, Fort
Scott & Memphis Railroad Company. which is Of
fered for sale by a. NJ. Kidder & Co, of No. IS
Wall street, presents features that unique in
stock investments, inasmuch the credit Of a
large trunk line road and the actual guarantee
of one Of it's subsidiaries make limit of twelve
years In which the purchaser must receive an ad-
vance of 20 per cent the cost of his stock, in
addition TO the 3 per year return on the
investment The dividend of per cent is guar
anteed by the St Louis & San Francisco Railroad
Company which also obligates itself 10 pay par
for the stock on October /, 1921
NEW YORK CENTRALS QUARTER. - The
New York Central & Hudson River Railroad Com
pany reports for the quarter ended March 81 total
operating revenue of Sl9.S971S3 increase OF
Sl.65949O as compared with the same time in
1908. Net earnings S466s.S96. increase
of S140S.574. After taxes and other income. total
gross income was S6.3S0.5o4. a gain Of s772,996,
and after all deductions there a surplus of
s962s6l9, against deficit in the corresponding
quarter last year Of $lS6S57.
-GCGGENHEIM EXPLORATION COMPANY
Pope Yeatnan and Charles K Lpman have been
elected directors Of the Guggenhem Explora tion
Company TO fiji the vacancies caused by the resig-
nations OF NJ. Robert GUgEenheim and a. Chester
Beatty. The company has declared the regular
quarterly dividend OF 2l2 per cent. payable July 1.
REGULAR HARTMAN DIVIDENDS.-The di-
rectors nf the linton Pacific at their meeting yes
terday declared the regular quarterly dividend Of
21a per the common stock. payable July /.
Southern Pacific directors declared the regular
quarterly IL per cent the common, payable July
/ and the regular semi-annual 3iz per cent on the
preferred payable July Il.
BORROWING ABROAD.-Some borrowing abroad
for Wall Street account was reported Yesterday.
the operation being reflected IN the sale Of ninety
day bills and higher discounts at London II is
thought in banking circles that finance bills VIII
become more Of factor here In the near future.
DIVIDENDS DECLARED.--Dfvidends have been
declared as follows: Railway Steel Springs Com
panv regular quarterly IA per cent the pre-
ferred. payable June 81 National Lead Company
regular Gi,artcIiy i, per cent the common:
Buffalo g. Susduehanna regular quarterly | per
cent ,ayahle June I. Dolores Mines Company reg
| uIar quarterly 7 per cent. payable Aususts2'.
ELECTED A DIRECTOR-Robert \. prysdale
| Of the banking house Of Benedirt pTysdale & Co,
| has been elected director OF the Washington
| Trust Company.
| COPPER PRICES HIGHER-The local Metal
| Exchange quotes electrcIytic copper = IN the
bid at 127.dI3c. Casting also is i in the bid
| price at 1880.