New-York tribune., 1909-03-19
TOPICS OF THE STREET

rogEICN TRADING-Foreign houses dealt IN
=, nan shares in the local market chiefly arbtrage
las In London the general market was inactive.
.1oefrr firm more satisfactory political news
Sss-e vas some buying Of Russian bonds for Paris
.o--t Money at the British capital was in good
t-,and and as high ss per cent was paid for call
80 Short time bills were firm The Bank Of
EnCland made no change IN its minimum rate Of
5eoog5nt and showed falling of in the percentage
- reserve of liability The directors Of tie Rio
-,,ro Company declared the usual seIni-annual
dividend Of & IS So
PACIFIC TELEPHONE AND TELEGRAPH
--SSD TSSI-E-J. P. Morgan & Co the First Ma
-,o1sl Bank and the National City Sank OF New
-- viii soon offer for public subscriprion 3 block
- per cent collateral trust bonds Of the Pacific
r-slenhors and Telegraph Company. The issue will
.rooII1t 70 approximately S16.So0.0oo In 1907 e
-rsu Street syndicate took Sl0O00.OO0 OF these
h,nds Of which il IS understood only about 81 0O0-
roo were disposed or and L Is stated that the
sid portion Of the bonds OF the old syndicate will
constitute part OF the present issue Of the Nor
ean syndicate. The Pacific Telephone and TeIe-
e-snh Company IS the recrEanized Pacific States
Tejephone and Telegraph Company and is one Of
rEe largest subsidiaries OF the American Telephone
end Telegraph Company Subscriptions viii he re
cetyed in Boston by Kidder. Peabody & Co. and IN
chicago by " " Harris & Co.
COPPER TRADE CONDITIONS.-Accord 70
rnav the leading producers and selling agencies
there has been no Improvement il the copper stu
stion Consumers are not IN the market and
holding of for lower prices than now prevail
Some producers declare that much further reces-
sion n prices viii be followed by the closing Of
tug the dividends they are now paying. and reduc-
tons VIII be in order within the next few months
TIE demand fer copper Is even less pronounced
-hs1 j IN February Purchases Of copper for
eyport amount 70 practically nothing. sales Of the
metal yesterday were reported as low as l2s cents
6 pound.
DIVIDENDS Observation-Disclosures have been
declared as follows: Kansas City Southern regular
quarterly per cent the preferred payable April
Is Butte Electric and Power Company regular
quarterly ~ per cent the common. payable
Ar-f1 raG L
r-efe-rcd. payable April l5. Library Bureau regu-
lar quarterly per cent on the preferred. payable
April I. Electric Boat Company regular quarterly
2 per cent on the preferred payable April /; De
Long Hook and Eye Company regular quarterly H.
per cent payable April l; Metropolitan Bank quar-
terly per cent payable April l an increase from
6 70 Per cent yearly
FOREIGN EXCHANGE RECORD FOR 1905
Sterling exchange advanced yesterday 10 a
kiEh record On the current movement, demand sell
:ng 4SS30Gz SS55. While the inquiry not
especially active. there were practically no bills
tbs market Il is probable that z considerable
amount Of god coin viii be shipped 10 London to
morrow. estimates yesterday OF the ou1go running
from s. 0.0e0 10 s.. 600
APPLICATION TO LIsT-Applcation has been
made 70 the Stock Exchange 10 list S5 100000 re-
funding and extension mortgage per cent bonds.
due 1888, Of the Union Electric Light and Power
Corpany- Application has been made 70 transfer
f7zss5pn capital stock Of the Utah Copper Com
psny and s1200oo 200 common stock and s10.oooo 600
preferred stock Of the Duluth, South Shore & At
lsntic Company from the unlisted TO the listed de-
psrruent-
NEW HAVEN NOTE sALE-The IS 600 600 one
year Ter cent New York, New Haven & Hartford
notes which were offered yesterday et Boston OF
g ga per cent basis, practically were al sold
KEW STANDARD OIL DIRECTOR.-H n. TIL
ford mas been elected a director Of the Standard
OF COMPANY, 10 succeed his brother, W II TIL
ford. deceased.
STOCK EXCHANGE SEATS HIGHER-A seat
the New York Stock Exchange has been sold for
$4,000. TIE last preceding sale was At $4,000.