New-York tribune., 1909-05-18
TOPICS OF THE STREET.

FOREIGN TRADINCf-F'Oreiz houses deslt
twenty thousand shares I'm the local market al
sales At London the general market vas irrsz.
lar with heaviness in the copper issues Cons0s
were unchanged. Money was in light demand
though there was an active Continental demand
for gold. Austria secured the South African god
offered in the open London market and Conrinsnlsl
exchange continued 70 rule against the British csg
ital. Rates at Paris and Berlin declined The Bs1z
Of England received 5000 gold from Australia ard
fl5l, 900 from Egypt
UNITED RAILWAYS INV EST9IENT.-
holders Of the United Railways Investment Com
pauy have authorized the issue Of S0e9,gQ pre-
ferred stock the sale OF the soda0,19 authorizsi
but unissUed common stock OF the United Railroads
OF san Francisco and have approved the contracts
entered into by the company with the pr0tsCtvs
committee Of the StanislaUs Power DevelopmsHt
Company, whereby the former gets control Of Ire
properties OF the Stanislsus Power Development
Company. including the TuOlCmne Water Power
Company OF the new preferred stock S,le04e and
also 81 100000 OF the u1issUed common stock vii
be used purchase the properties OF the StsHislsls
Power Development Company. The S90.10 re-
naming will be held in the treasury 10 provide
for future requirements OF the company. The 80
OdO0o0 common stock OF the United Railroads of
san Francisco will be sold 70 corpOrauon @ oe
organized and controlled by the United Railways
Investment Company. The new corporation VII
take over the san Francisco Electric Railways
Company
STANDARD OH. DIvIDEND.-The directors Of
the Standard Oil Company OF New Jersey have
declared a quarterly dividend OF 50 a share, ths
rate as at the corresponding time last yesL'
against So at the last preceding dividend period
The following will show the dividends declared oy
the company at this time for series Of years
1876, 1901, 1875 and 1919. 50 share in each YEAR,
1904, S a share; 1858, s. a share; 1902 80 snsrs'
lS0 81 share, and 1900. 80 share The tolloN-
ing shows the dividends declared by the eompan5
in the nrst two quarters for a series OF cssnls
years: 1905 ieJ7, 1895. 1865 and 1914 "a snare p
each year: 1903 ST a share; 1892, SD share Is+
S3l share. and 1880, SO q share
LARGE COPPER SALES.-Sales Of copper Q
the various producers and selling agencies since no
first Of the month aggregate a total OF close y
100000 pounds Most OF this copper vas soid q
the United Metals Selling Ccmpary- sales o. GOV
per were made yesterday at a shade above IS7s5
pound The strong feature was the increased q
mand on the part CT local consumers. VINO are nON
inclined 10 lay in large stocks CERTAIN prool..Is -
predicting He copper within the heN ~
months. which means tuat certain mnlne - =,
panies Will be in a position 10 increase thels a--
dends II they see ht 10 do So.
\ TRADERS OPGNION-A conservative ua1sl
on the Stock Exchange said Yesterday Ines
no hquidating Of Importance going on az pfes
Conditions do not permit such operations N - -
to IiQuidate must have active trading anu s'As
buying enthusiasm. and at the moment thste
neither that extensive selling Is suspended. -
must remain until the larger interests can - =
ulate a buying movement. The public stopped -
ing last week. but it would not require m-'-
manipulation to bring it back
ENTIRE BOND OFFERING SOLD--NM W .sI,a y. ~.
SalomOn s. Co announce that the en1Ie -: -
Houston Belt & Terminal Railway Company p
cent sinking fund bonds. offered for sale ys'sl1ai
morning, have been sold
ERIE & PITTSBURG REPORT.-The opsralns
results Of the Erie & PittsbUrs Railroad one
the Pennsylvania lines west Of Pittsourss 49,
ing from Grand Junction to New Castle % ohlo, @ 10
public Yesterday. show gross earnings or SL'ss,-
compared with 81 $40 49S 70 in 1877. and e1peus-
SS93 2o2 SO, compared with Sl.+4S,+ll > n 50.
reduction CT 3SS3 per cent Net earnihss NC 80 I,
Grafton were reduced from Si,022.0S5 Of IN -. =
1890 $50 SIS in 1905. a loss OF 5l.9I per cent -
charges TO construction and equipment m tHe -
were SlS5.666
SANE MARKET OPINION.-shOemaksr. BaIess
Co OF No. 81 Wall street. say We have lol -
time been warning our customers against 't'o -.
siderable number of securities or douptlui -.
which have. in our Judgment, been raised s.s;-ss 70
Iatfve levels unlikely to be indefinitely ria
High grade securities may or may not F-..-4
somewhat OF a setback dependent upon Iuo = ~
to which they have been raised, but. takiIs - - n
as a whole we do not believe the oetteI - a
securities can be called excessively his, ,.t,,sst =
garded from the point Of view OF H'
worth"