New-York tribune., 1909-04-09
TOPICS OF THE STREET.

FOREIGN TRADING.-ForeIgn houses dealt in
$4,000 shares in the local market, buying 10000
Share mostly Steel common. on balance In Lon
don strength was shown in the American depart
rnert on a small volume Of business. while trading
II the general market was inactive with prices
frm. Cousols and foreign bonds were trife high
. Money was easy and the Bank Of England
made ro change in its minimum rate OF discount.
which remains at % per cent percentage Of
reserve liability Of 47-22. against 3 per cent
this time last year. when the percentage 5l.2S.
FAIL RES IN LEADING BRANCHES
vsies point Of view the statistics of commercial
fses Tor the first quarter 81 TINS year are studied
cany1ncinE proof IS shown of the great advance
rais in recent years in the administration and
r-orertiOn of credits The classification Of failures
n branches Of business for tie month OF March.
EccordjrS 10 the reports from the branches Of Il
. Dun & Co. shows that in twenty three OF the
thirty clasSifCations given The liabilities were
iass for The month in 1909 than in 1905 while in
7s1S 0nlv three Of the classes reported liabilities
lsss -han in 1907 Making the same comparison
Tor the first quarter Of the year, the results are
antialy the FOR while in twenty-four Of
TIE classes the liabilities aggregated less than in
1905 record for that year showed that in every
class with the exception of three. the liabilities
z-ere heavier than in 1907. A feature Of the
ffr5r is -h- heavy defaults Ia iron foundrfes and
rgIz ard machinery and tools The total liabilities
IN these two classes in March. 1909 amounted Ia
8 5-l.54 against S7us5o3 1905 this big increase
from last year being clear reflection of the
settled conditions existing IN the iron and steel
trade There were only three defaults in iron
found-ies and nails but with tie high average OF
scs16s liabilities Adding TO The liabilities In this
class -ae defaults in machinery and tools, II ap-
pears that Tie total for March amounted TO IA OF
tie total commercial liabilities Of the month. while
In March. 1905. Tie percentage was only b.
EeNKS-GAIN CASIE.-The reported movements
q currency this week indicate gain in cash
reid fy the banks Of Sl-S55.e00 A moderate gain
from the interior was reduced bE gold exports
and Sub-T'reasUTy operations proper The banks
received from the interior s5.043.U0e and sent 10
~ interior sS.S5g. 600. including S2.O5g.0O0
rfonal hank notes sent TO Washington for redemp
ton The gain from the interior was S21S4.000.
Eecei7ts Of new gold were s1.671.2eo, namely;
~ New York assay Office checks, Sl522-5oo- on
San Francisco mint checks SS227po and Seattle
aSsa- Office checks. $4,000 Gold exports amount
d 1a s 100000 Of which 100000 for Argen-
1iua and S5H1.nu" for Brazil. Ordinary oisourse-
rler-s Hz the eSul-Treasury were S2o,6IS.Sop Pay
merits hg the banks 10 the Sub-TreasurT for Gus
toms EzrerrlaI revenue. . per cent redemption
fund etc. were s1l.ss5.00o- The loss Sub
Treasury operations proper was sl.0es.20o- The
total gain from the interior and by gold was
'5.Ss1--oo- Deductins therefron the loss on Sub
Treasury operations proper and by gold exports,
amounting in all 10 $2.3o6--oo. the net gain Is
sI.S55.ea
COMMODITY PRICES HIGHER Bradstreet-s
spproxiTRar- index number OF commodity prices
on April T. 1909. was SS.3l57. which marks gain
y u per cent March l. Of 81 per cent over
April d year ago and Of 7.6 per cent over June
I. 1905 tae lowest point reached Of recent years
Compared with March ]. 1897. the highest point |
of The last seventeen years the present index
humber shows a decline OF So per cent Com
pared with the low point made after the 1s03-04
depression The present index number shows an |
sdvatc= Of . ,ser cent aud the advance from the
oVg point of d >96 Is fully - per cent
DIVIDENDS DECLARED dividends nave been |
declared as follows Waltham Watch Company. |
regulaT seui-auuual g per cent On the preferred |
PAYABLE june J. Utica. CheuausO q Susquelanna |
Railroad ''gIEpaug- SeTni-aHnBal cent. pay |
able April ,. United cigar Manufacturers Com |
TalE. regular quarterly per cent the com 1
mon. payable MAJ Z: Electric Bond and Share |
coH7aut. regular quarterly = per cent on the |
preferred. payable May J.
Nl-W YORK AND QUEENS ELECTRIC TO Is /
StE EDNEr--The directors Of the New York and I
Queens Electric Light and Power Company have J
proposed -e lie stockholders issue of Sl-0u 900
bones provide further extensions and addI- |
l0as 20 Tire propaItv- Al officer OF the company /
- states that with tie growth Of the Borough Of |
Queens TIE future deuan nds for electric power ap-
psrenrlv VIII Dr. large.
NATIONAL RAILWAYS or NEXICO.-A dis /
patch from Mexico Cit says that the directors OF
iHe National Railways of Mexico have announced !
mat 100000 VIII be spent in improving the
"osanle RAILWAY between Mexico City and Vera
Cruz into broad gauge system. Bids viii be
cared Tor IN al The capitals Of the world.
AMERICAN TELEPHONE AND TELEGRAPH |
eFWslrc ~ Saoovo,990 par value Of American |
ieiephaue and Telegraph Company convertible As
sFe been turned IN for exchange stock, leav-
rig about 100000 600 outstanding
LAW fERS MORTGAGE COMPANY.-The cap
.'3- sl'th oi the Lawyers Mortgage Company j. to !
' increased from $500 o0N TO Sf.00o000. The
-aN'24i'y has a surplus of p o0o00 and pays 10
Ie- cent IFS stock
''hNEFAi. RAILWAY SIGNAL COMPANY--
.s9A gross earnings of $500 663 decrease Of Sl92-
- Aet earnings. 24-.a43. decrease of $l65.5-s.
- q attelf after interest and dividends. OF $7S