New-York tribune., 1909-01-26
topics OF THE STREET

,rr-N TRADING.-Foreign houses dealt in
fOn-L.-es in the local market. mostly sales In
EW, fhe general market was inactive and firm
DenS heing helped by the improvement in the po-
pnces ~ the Bank OF England as a consequence of
siHon in securing all the South African gold
y in the open market, amounting 100000
cfereo o~cbsnge on London was higher and bar
FslS et London declined British discounts we're
80 while call money was inactive and under
e. -ne.t,'s average level
AsrrpTcAN GRaPROPHONES DEFICTT-Tbe
~ ~ the American Graphophone Company for
= yesr ended September so shows net income
- - ali sources of 1851, against 1894 Si in the
'.esins gear After charges and depreciation
ps was deficit OF siSS.S23 and after preferred
ths.,5e 4 deficit Of Ssso,eI7 The total deficit Was
erlo emsos against a surplus in the year before of
ssrs The statement of assets and liabilities
80 cash on hand OF S134.054 and accounts ard
ss receivable of ssss7s2, against bills payable of
'..oRTgr,RN PACIFIC-Apphcation has been
5s nv the Northern Pacific Railway to list s93-
ssr5eo additional capital stock the local Stock
sr~chs1Ee. This is the new stock which the COM
---z+s stockholders authorized early in January
- snd which became full paid with the last in
-...lr,snt Of I2iz per cent January last With
- listing of this new issue the Northern Pacifc's
r+stsnding capital stock amounts to s24S0O0 900
5sch means total dividend disbursement re-
sL~ sL.,,eut OF sl7s5oooo at the present : per cen,
-s Holders OF the subscription receipts have
ssen receiving interest at per cent on the money
sSs IL but they did not, of course, benefit by the
f+-s dividend OF % per cent declared last fall
rTFEI, PRICE CUTT1NG-The price cutting
oven5ent among the independent steel companies
fe IL
=. largest independent companies has Joined the
- nf the concerns that are now making con-
...cions 20 consumers, and the movement prom
80 IN become widespread. Reductions Of from 8
- a ton are being made in plates. sheets and
x--uctural steel
COPPER TRADE CoNDITIONS.-The Pennsyl-
.ria Railroad lines placed orders for casting cop
-.- Yesterday for distribution TO nine shops. The
ssrrrezste purchase was 250.eae pounds, a lac. A
ss5r amount Of business is reported In casting and
,sonud grade electroytic copper for car shops and
6rfeS & Al
sectrolytic is stili held at 1c by the larger pro-
6ucsrs, none OF Wilofn report any improvement
r business.
DEMAND FOR COTTON EXCHANGE SEATS.
A fairly active demand for New York Cotton
Exchange memberships is reported and the names
o. six applicants for seats are posted. 1t is
ssid that S0.15o is being freely bid for member
fhtps comparing with 600 last fall j. T. Wen
man q charter member OF the exchange. has n
rounce6 his intention of transferring his seat.
APPLICATION TO LIST.-Application has been
made 20 the Stock Exchange 20 list S26l@00o ad-
6ilansl convertible per cent bonds Of the Amer
srst and refunding per cent bonds of the Denver
first and refunding mortgage per cent bonds OF
ras Minneapolis & St. Louis Railway
SOUTHWESTERN AND ALTON BONDS SOLD.
The S9oo0ae Chicago & Northwestern Railway
Company general mortgage 5la per cent bonds, due
lG7. purchased last week by Kuhn, Loeb & Co.
fhs1 the 100000 Chicago & Alton Railroad Com
pany 5 per cent refunding mortgage bonds
Gently purchased by them have all been sold.
{. r BECKETT A NEUTRALITY-SUSPICIOUS.
tke New York Life Insurance Company, in place Of
julius f1eiscE.Dann, resigned