New-York tribune., 1909-01-20
TOPICS OF THE STREET.

FOREIGN TRADING.-Foreign houses were not
active in the local market. dealing in only few
thousand shares, evenly divided. IN London the
general market quiet and firm, with a frmer
tone in American issues on the curb. There was
buying of Chesapeake & Ohio for New York ac-
count Call money was easier at the British CAPT
tai and discounts also were lower. Paris exchange
on London ii trife higher. London received
$500. 600 gold from Egypt
AMERICAN PIANO STOCK.-Wolf Bros. & Co,
who Offering American Piano Company per
cent cumulative preferred stock. report good de-
mand for it. One OF the features OF this issue is
that the stock is preferred TO assets as well as
10 dividend There are no bond obliaatfons on the
company and be placed upon the proper
ties. the preferred stock be increased with
the of the holders of s5 cent OF both
the common and preferred shares. No dividend
be paid on the company's common stock unless
there shall at the time, be added to the sur
plus Of the net profits, not less than one-third
of the amount OF such common dividend
SURETY COMPANY TO INCREASE CAPITAL.
The directors OF the National Surety Company
have decided to recommend to stockholders that
the capital of the company be increased from
$4,000 10 s75O.00O such increase OF S250,00O IN
capital stock 10 he paid for out Of the surplus
earnings Of the company, and distributed IN new
stock 10 be issued TO each present shareholder In
the proportion Of additional share for each two
shares held.
BETTER RAILROAD EARNINGS-Gross earn
ings reporting yesterday for the first week III jan
uary show for six companies a total increase ot
s25I 534 and four companies a total decrease OF
$22,0S5. The Southern Railway for the second week
In January shows increase in gross OF Sl0S.5t.
Comparison is made with the same time last year.
Commonwealth Edison Company of Chicago first
mortgage per cent bonds offered for sale yester-
day by g syndicate CT Chicago bankers and for
which y. ". Harris & Co, OF TINS CITY, received
subscriptions have all sold, the subscription
books closing at 1915 with the bonds five times
oyersubscribed.
COPPER PRICES IOWER-The local Metal
Exchange has reduced the bid and asked price for
ell grades of copper. Several OF the leading cop
per producers agencies have cut the price of
COPPER "a cent pound from 14i2 cents in the last
few davs. Some sales were reported yesterday for
electroytc 131s cents. the lowest level reached
n several months.
DIVIDENDS Observation-Disclosures have been
declared as follows Western Telephone and Teie-
graph COMPANY regular semi annual PA per cent on
the preferred; Twin City Rapid Transit regular
quarterly Ia per cent on the common, payable
February 10: H b. Claf1in Company regular quar-
terly IN per the first preferred and ia per
cent on the second preferred, payable February /.
CORN EXCHANGE BANK-At the annual
meeting OF the Corn Exchange Bank the board OF
directors was reduced from sixteen to fifteen MEM
bers Charles ". McCUtcflen. OF Holt & Co. and
Andrew Mills. president of the Dry DOCK Savings
Bank were elected take the places Of Leonard
] RlIs1y and Anson R. Flower. deceased.
NEW UNION TRUST D1RECTORS.-At the an
nral meeting Of the Union Trust Company Adrian
IseIir ir and James Gore King. OF the late
Edward King who was president OF the company,
were elected trustees fill vacancies Other trus-
tees reelected.
GOLD FOR ARGENTINA.--The National Bank
of Commerce has engaged $3.50 600 gold for ship1
nent TO Buenos Ayres tomorrow making $1,000 O0o
bv this bank on the current movement.