New-York tribune., 1909-05-16
TOPICS OF THE STREET.

FOREIGN TRADING-Foreign houses vsr. -.
active in the local market. their operations bei1r
made Up OF small evening transactions. n -
London market consoIs were unchanged and tha
general market was irregular al uniniportant hnaI
differences. Call money at the British capital waE
easy at unchanged quotations Discounts rernainA5
at Fridays level at London and on the Continerf
South African gold 10 the amount OF E7oO.ooo yzsu
be offered In the open London market to-morrov
and is expected TO go to Austria OF Francs.
IRON SITUATION.-Rogers. Brown & Co. say,
Heavy sales Of basic iron the prominent fsas
ure Of the Eastern market Several Of the lsadI1,
consumers decided to buy for the third onar+ss
and have simultaneously closed for large amour.
not less than 10000 to 10000 tons The Furnace.
taking this business made low prices to move .,
accumulated stock and now show disposition 70
move prices up to the point at which their neigb-
bOrs with little no stock have been hoIdinz
The advance in scrap prices will also have a
strengthening effect the basic market Forn5-,
irons are active. too Several large blocks bav.
been placed by lake and Eastern Pennsylvauia
stacks and the Of small orders IS keeping N,
steadily The low prices available FOR immediate
shipment a week ago can probably not be dupH-
Gated to-day. The tonnage booked has been heavv
enough to warrant advance OF 25c to 50c a t11
The whole tone Of the market Is healthy and hnpa
full No one expects lower prices. and a ouist
steady improvement in consumption Ia generally
predicted"
COPPER TRADE CONDITIONS.-WaUxer1s -co,-
per Letter says: Copper IS stronger Lake IN
131z013sc and eIectrolytic is 1Sc pound The VOL
urne sales been heavy since the beginning os
the month and the prospect is good that May de-
liveries viii exceed production for the first tine n
more than year. According to the statement ~
the Producers Association the surplus supplies IN
creased less than 100000 pounds in April indicat-
ing that consumption now approxmatss produc-
ton. Exports steadily increasing. equaIIfuz
so per cent Of the American production Within
month or two Official reports should begin 70 show
a considerable decrease IN the surplus suppliez
and this will lead to further advance IN the Dre.
Of the metal. The outlook for the copper market q
exceedingly promising
COTTON MOvENENT-~The Financial Chru--
r. Of To-
week ended May IA. 1909, 9s.754 bales. agatns,
114.s29 bales in the preceding week. making the
total receipts since September I, 1908 s,s0Z 400
bales. against 7.724435 bales for the same period
Of 1907'OS, showing an increase since September I
1903. of 1882 9s5 bales The weather has been gen
orally favorable with precipitation light Temper
ature, which at the beginning Of the week was low
has since turned warmer Planting has been CON-
pleted at most points
DIVIDENDS DECLARED-Dtvidends have been
declared follows: Alabama Great Southern an
initial 2 per cent the ordinary stock, payable
June IS; Laclede Gas Company, regular senli-s1-
nual 21s per cent on the preferred and regular
quarterly II per cent the common
Observation-Disclosures BOND REDEMPTION
Notice is given that payment VIII be made az the
Office Of Speyer & Co. on and after September
for the sixty-oue bonds OF 4 900 marks each OF the
1901. Series l. and Of the twenty-one bonds Of 1000
marks each Of the same loan. which were drawn for
redemption on April 23
MEXICAN BONDS DRAWN FOR REDENTP.
TION.-Notice is given on behalf OF the Mexican
government that s1S1 900 OF the Series per cent
gold bonds Of 1904 OF the United States OF Mextco
and $4,000 Series bonds were drawn FOR redsmp-
ton on May Il at the Office OF Speyer & Co. They
will be paid of at par and interest on June
BROOKLYN RAPID TRANSTT-SO far this
month gross earnings OF the Brooklyn Rzpd
Transit Company. IL is understood. have increased
at the ra OF S3.00O to S. 600 a day
PENNSYLVANIA CAR TRUSTS SOLD-r Is
understood that all OF the Pennsylvania car trusts
sold 10 a local banking house on Friday havs os1
disposed Of
OFFERING OF BONDS.-The unsold balance 0t
issue Of 81. 246 600 Houston Belt and Terminal
Railway Company first mortgage 5 per cent bonds
Is being offered at 101 and interest By william Sal
ornon & Co. New York and Chicago. and G. Il
Walker & Co. St Louis The property subject 20
the mortgage furnishes the only terminal IN Hous-
ton Of the Atchson. Rock Island. Colorado South
ern Chicago. Burlington & Quincy SYSTEM and
mill