New-York tribune., 1909-12-04
TOPICS OF THE STREET.

FOREIGN TRADING-Foreign houses
dealt in less than $3.50 shares in the local
eln' ed' Owing 10 trouble with the cables.
BANKS LOSE CASH.-The reported
movements OF currency this week IEniea,o
loss I'm cash held by the banks OF 49,; ~;
600 They gained considerably ON the Gl-
rect interior movement. but lost neaVny
through gold shipments and on SUP
reas9hs ,h ,Iar,or 1Psnaors sa m @ and Shipped to
the interior slO.G61o. including S~vo
gold coin sent to Canada sl.NtV" trans, US
ferred through the Sub-Treasury 70 i sai
Francisco and S2sil.yrB of national DanS
notes sent TO Washington for redemption Oh
The gain from the interior was sS'9sV"'
Receipts OF new gold were 81. 1.2e9.O10. name
ly: on New York Assay once cheskS'
s999.ooO. On san Francisco mint cheeks ss,- ssy.
s2ss.C0O Gold exports in the week amount
ed to si.600.oco. of which si;5oO.Oo "1ne Sti ~
the Argentine and 5000 10 the sub
Treasury were s27.ZS1.oo0 Payments oy
the banks To the ub-Treasury LOT Gus
toms. internal revenue. per cent; 'i's,,p Isge,lip
ton fund ETC. were $32 355,en, showing
loss on Sub-Treasury operations proper oL
sSo'Seoe The total gain ffom t ,ne "a ,st sss ooS
Deducting this from the total loss oy Solu
exports ana on Sub-Treasury Opsrauons
sl9Rf5iO a9lRs.odO. 'he net 'oS' ' '
MINORITY STOCKHOLDERS RIGHTS
Richard Selden Harxey OF the New VOTE nS
bar, supplies in his book. Rights OF
Minority Stockholders, an important
contribution to current literature on nnan-
cial topics, and furnishes valuable lhior-
nation TO holders of securities I'm business
enterprises regarding their exact position
under the law. The author deals with
ity are most frequently brought IN ques-
tiOn ignored bv the majority dlsO
with decisions defining the rights OF tbat 5af
the strength OF the majority can De met
only through the aid which equity extends
for the rights of the minority interests
he gh0uyg
tained and redress secured The book hds
some interesting chapters on watereJ
stock. powers OF stockholders. duties OF
directors and stockholders defences- Tee
publishers Baker, VCorhis & Co. OF
this city.
DIVIDENDS DECLARED. - Dividends
have been declared as follows; Fifth Ave-
nue. Trust Company. reguiar quarterIy
per cent. payable December 3l' MercahlIe
National Bank quarterly 11a per cent. pay.
able January 3. an increase at the rate OF
2 per cent annually over the last preceding
declaration: International Silver company
regular quarterly Ia per cent ana, extra extra
y of per cent, payable January 81 Mutual
Trust Company. quarterly IA per cent ana g,
l per cent extra. payable December 81
Rensselaer, e Saratoga, regular seini-ah-
nual per cent. payable January /; New
York. Lackawanna & Western. qliarseHy
Co. regular quarterly ia per cent, payaDie
January g. and Chicago & Eastern Illinois.
regular quarterly liz per cent on the pre-
ferred. payable January 3.
ANALGAMATED COPPER.-The closing
OF the mines in the Butte district as re-
a difference OF about 100000 pounds OF
copper a month In production The Boston
and Montana will probably have some OF us
ore treated by the WashOe smelter "A pro-
lOnged shutdown would serve 10 strengthen
the copper metal situation. as II would
cause quite a material falling of In pTOduc-
tiOn. If the railroad strike continues
throughout the current month 'Ihe Cop
per Producers figures for December may
show material reduction In stocks
MARYLAND COAL CONIPANY.-Owing
to the poor condition of the coal market,
directors of the Maryland Coal COMPANY
have passed the semi-annual dividend OF
/ 212 per cent on the preferred stock Earn
inEs from mining operations are not SUM-
Client 10 warrant the declaration of dtvi-
dend at this time and u Is not'deeIned au-
viSabe 70 use the surplus for the purpose
Dividends on the preferred stock o' 81 .SSS.-
O15. aggregattng 63i2 per cent, have been
paid since 1900
+ GRAIN EXPORTS FOR THE WEEK.
Bradstreet's reports the exports or grain
for the week. with comparisons. figures IA
bushels, as follows. Wheat. -four Included.
3.652,Si6 against 4.3f7.43S last week and 6.lO6,-
25S i'm this week last year. For fiscal year.
2.4S4.S90. compared with 9S417.SS9 in the cor
responding period of 1908. Corn. 356,523. con-
trasted with 2j4,5J1 last week and 1.sto.2SO IN
the same week in 1888. For fiscal year,
4.O45939. compared with 5,2S2126 in the same
period last year.
GOLD EXPORTS. The National Bank
of Commerce will ship $4,000 gold coin TO
Brazil to-day and the Bank OF New York
s75OOo0 Since January gold exports from
the United States have amounted 10 SlOo-
9t0.000. Of which SIS. $50 Coo has gone to Ar
gentina, s9.S00.0l0 to Brazil. Sl3.S01.00O to
Paris. $13. $50 000 to London. 81 250009 TO ia
pan and 100000 TO Holland
! CRUCIBI.E STEEL PREFERRED DIVI-
Company have restored the dividend on the
preferred stock To 15t per cent for the
quarter. which is at the rate of per cent.
The dividend is payable on December %
10 holders OF record December Is. This is
the first time since 1906 that the full quar-
terly rate OF Ia per cent has been de-
Clared.
Mcmahon has been elected viCe-pTesident
/ of the American Cotton Oil Company. Mr..
McMahCn formerl- was vice-president OF
the largest subsidiary company OF the
l american Cotton oil Company.
HEAVY TRANSFERS To FRISCO
| The Sub-rTe suTy tT4Hsf srred yesterday
ST. lO0.0o9 To San Francisco for the account
/ of local banks. making n total the
/ movement since last Saturday OF $500. .OC0
/ ELECTED To CHAMBER OF COM
I MERt' 'E--EdWard Earl president OF the
/ Nassau Eank. and Leopold Friedrich. man
ager OF the foreign department. of the Ma
\ tOnal Bank Of Commerce. Rave been elect
/ ed members OF the Chamber Of Commerce
CUBA RAII4ROAD.-The coupons due
I January I on the first mortgage , per cent
. bends and subsequent coupons and the
coupon due January I on the debenturcs of
the cuba Railroad will be paid at the
| IS William street.
4 INTERNATIONAL SILVER DIVE
/ DENp.-The International Silver Com
/ pany have declared a quarterly dividend
of IA per cent on the preferred stock
! also IN extra dividend of one half of I