New-York tribune., 1909-01-15
TOPICS OF THE STREET

,r7c% TRADING--Foreign houses were not
fOl'; - The local market, sales and purchases
sctFe hou4 e.enly distributed. So far in the cur
hent sales of American stocks for foreign ac-
Te1t have amounted to more than $4,000 shares
co-ht the general market inactive, though
u D".t .ta advance in :he Bank Of Englands mini
SrlE -ste Of discount failing TO create uneasness
n. the money market position. The weekly re-
e'e ~ the bank, whiie making better showing
tola 91 fhe preceding week, presented a poor
u. r5s. FOR this period OF the year. Open market
hlole hlnts al the British capital were firmer-
o.S-K OF ENGLAND RATE ADVANCED
? t2snk Of England has raised its minimum rate
Is.count from 21z per cent TO per cent, the first
g.rspce since November a. 1907, when the rate was
I'd from q 10 4 per cent basis. The 2l7 per
ho,' -ots vas established May 2S 1908 1t is
ce-sI cen. fer the bank TO advance it's at this
enIs NJ the year, but the position of the insttu-
xeaker at present than generally recorded
~. Wis time and If the French demand for gold
s-.inres = further increase doubtless will be made.
psnk of Engand's gold holdings $50, ,000 600
t.oz- this date last year. whereas the Bank Of
ros pes has added Sl72,0OO,0o0 to it's gold in the
1a interval. the Bank Of Russia S65. 600 and
N.w York Clearing House banks S73. .oo0, 600.
-. Tsank Of France has taken all the South Afri-
III -,L5 offered IN the open London market for
. on and the English bank apparently now in
se 20 secure, II it can, the weekly shipments
- - ,he Transvaal. 1t is not believed that the
.rt nj France, after financing the Russian loan.
ii depart from its policy OF increasing its gold
so.5inSs on every opportunity
TYvTDENDS Dividends have been
,,.-ed as follows: Havana Electric Company an
st;.i per cent the common and the regular
As-,erlr IL per cent the preferred. both pay
w. February 15; Butte Electric and Power Com
~ regular quarterly IL per cent the pre-
ps5 parable February /; Electric Bond and
ShaTs Company quarterly IL per cent on the pre-
80 payahie February /: Chicago, Milwaukee
= =. pau regular sen-annual 3Is per the
-,rr,or and se1ni-annual 80 per cent on the pre-
80 navahlo March /; the Manhattan Electric
s,niy Company regular semi-annual per cent on
80 rrsferred and per cent on the common: Third
,-.e5 cities Realty Corporation regular semi-sn-
nus ~ per cent on the preferred PAYABLE March L
VIRGINIA & SOTTHwESTERN RAILWAY
paSps-The A.57o0o bonds of the Virginia d
e,n,hwestern Railway, which were listed on the
g., York Stock Exchange yesterday, are being
-srelv offered by Redmond e. Co. who state that
ar Q; the issue E570.to already have been SOLD
,rrserors and they are offering the unsold bal
.o. Al el5 and interest. These bonds are direct
,n1-tesse on the entire property OF the company,
Tp-ine aqS u miles Of road and equipment. valued
n inward Of S.0laooo- The Virginia 4 southwest
e-n Railway Company is large Garner, LOT 'he
,s. ten wears hayiT.g always shown surplus over
-T interest charges, the average annual per
a,,sgs ~ rat earnings and interest charges from
fs4 10 1913 inclusive. being more than 1sS per cent
GOLD EXPoRTS-The National City Bank has
rurchased & 10000 gold bars from the PhtadeIphia
EInt through the Fourth Street National Bank
Of that city for export this week. The foregh eA-
change market yesterday was irregular but gen
ersIlv firm and at q level at which gold com C"lid
he e,nnr4ed or gold bars secured in Philadelphia
tor export at a profit the high price OF demand
feriing oTsetting the expense involved IN orlhs-
tng the metal from that centre 10 New Aork,
COPPER TRADE CONDITIONS.-The copper
market is rejecting the falling on IN demand
which has been under way since the n1ooeraie
tuyinE movement early in the month. ElectroINtic
copper vas sold in small lots yesterday at l4hs
cents pound. Copper prices generally are almost
back 10 where they started in the recent upward
-noIement The leading selling agencies continue
n hold electrolytic copper at l42 cents pound.
although & reduction in the price IN the event OF
s continuation Of q dull market can be expected.
The local Metal Exchange quotes electrolytic cop
Ter OF L the bid price, at 1879 to i4s cents;
lake unchanged. at 14ss 10 14Ss cents.
NnJTKT MORRIS BANK DIVIDEND.-The di-
r.ctors of the Mount Morris Bank have declared
ousrterly dividend of 217 per cent payable Feb
r.arv / Heretofore the bank has paid semi annual
ai,46ends OF per cent but in the future the stock
viii he on 10 per cent basis, with quarterly pay
-aents Al the annual meeting of the bank Charles
scrhner elected q director IN place or John
Jscob Astor. resigned.
DETROIT UNITED BOND DEAL.-Negotiations
are in progress IL Is reported, for the sale OF a
block of per cent first mortgage bonds Of the De-
.rot Tinted Railway Company 10 Coates & Co.
cf London The company has S.50o,e0 Of these
bonds In Its treasury which fl issue at time.
ard provision viii to be made soon for taking
I'd ma 400 short-tern1 notes which mature March /
BALTIMORE & OHIO REGULAR DIVIDENDS
The directors of the Baltimore & Ohio have de-
cisred the regular semi-annual dividend Of 3 per
Ger; on the common stock and the regular semi
snnusI per cent the preferred, payable March
L After the payment Of per cent on the common
and per cent the preferred a surplus remains
for the last six months Of S2.235.o0
COMMODITY PRICES INDEX NUMBER--Brad-
streets index number Of commodity prices as OF
January J. 1873 was S6.2756, which number reflects
gain Ct sever-tenths Of per cent over December
lse Of z5 per cent over November last and OF
80 per cent over October !. This index number OF
SzS shows advance OF IL per cent over the
figures recorded on June l. 1905 when the low point
q the year struck.
APPLICATION TO LIST.-Application has been
made to the Stock Exchange TO list So47oeo addi-
iiona capital stock Of the New York and New Jer-
sey TeeThone Company and Of s6s-24,0 900 additional
preferred stock and SO go 800 additional common
stcck Of the Chicago, Milwaukee & St Paul Rail
road Company
SET STOCK EXCHANGE MEMBER. wal
Ter Wood Struthers has been elected memper OF
Tie New York Stock Exchange.