New-York tribune., 1911-03-14
TOPICS OF THE STREET.

FOREIGN TRADING. - Foreign houses
were not active in the local stock market
dealing in upward or 1850 shares.
ST. PAUL-PUGET SOUND BONDS -
Kuhn, Loeb AZ Co and the National Dity
Bark are Offering in New York, and kid-
der Peabody & co. in Boston, tne re-
mainder Of S25.010.000 Chicago, Milwaukee q
Puget Sound Railway Company hrst NOR.
gaze ! uer cent bonds. due 19i9, principal
and interest uncOnditionaly suaranteen Dy
the Chicago. Milwaukee & 81 faul IA =
way. The bonds are an absolute nrst inor.
gage on the entire line which is owned Dy
the st Paul road. The new line was
opened 20 traffic on August !. lsV'. ana Z
already showing large Surplus 1Ee. ~. ~.
terest on its first mortgage pon9s;;o ror In
six months ended December 81 1910, surplus
after ell charges. including interest," on ors ons
s23,00o0 bonds amounted - 81 81 slosS'9.1 o:., 20
The total authorized amount ls S-piVI'Vp.
which the s2j0c0.cO are a part. tne balance,
SOS 10000 remaining In the treasury OF thc
ST Paul: 100000 are reserved lor llil-
proyements. No further bonds Oh thr issu.
will be sold during the present calenndt
year Tire bonds are offered at 'o12' 10 ne'
about 4.25 per cent.
THE EARNING POWER OF RAIb-
ROADS-"The Earning Power OF haiI,
roads" by Floyd W. Mundy, punllshcI -, pN
James II. Oliphant * Co. members OF M ,he
New York Stock Exchange, presents NJ
vital facts regarding the i5O prlnclpal tai., 10
road systems Of the United states, 'anaua
10 make them inteligible 70 the ornlnary
investor. as well as 70 the man skilled u
the study Of balance sheets. IN tui1 o,on ~
Mr.. MUndy pres ents what are usuany vi = =
and unintelleible facts and hgures IN q
clear aud readable manner and SHOWS tue
Investor how TO tell whether or not rali,
road is being economically managed aha %
how 10 get at the relative merits OF the
stocks and bonds of the various roads
DIVIDENDS DECLARED. - Divide nd
have been declared as follows: The Amerl-
can Telephone and telegraph C9mpany
regular quarterly per cent; paydue reg. regi
lar quarterly per cent. payable Marcn o..
The Guaranty Trust Company reg :, :
quarterly per cent paysoie MarGv srIarIy 81. D.
per cent. payable March 81. The Homestake
Mining Comrany. regular rnontniy ~ CENTS
payable March p.
COPPER MARKET. - While there mas
been no pronounced demand ior soppe.. sage.
since the FIRST cf tho month fair siZeo saItS
are rerorted by selling agencies ana pro-
ducers who are willing 20 make concessions
below the so-caled Official level OF l.i2
cents A pound. Most OF the transa ctiotls,
sircr March ! have been on basis q,
Ttr. T129, cents a pound. II is esu'laleu
that within rhe last two weeks AoouI 20, e.,
900 900 hounds OF conper nave neen soio III
-he local market The huvine has nor oe~n
sufficient 10 move prices 70 higher ieVel
CENTRAL PACIFIC BOND ISSUE sue
CFScFTT.-Kuhn. Loeb & Co. have re-
caivsd adviceS from Faris that the issue
ii the Central Pacifc 4 per cent tnlrtS
fve-vear bonds. guaranteed hv me Soutn- :
ein Paciec Company. which has oeen Wn1e
hy tn. Ranoue de Paris az des Pays Bas
and rhe Societe Generale. both OF PARIS
has heen successful
Nrvv s,LE OF METROPOLTAN
STREET RAILWAY CERTIFICATES -
The Certrnl Trust COMPANY o. New YORK
for itseif and in behalf ~ Kuhn. Loeb a 90;
the Farmers Loan and Trust Company ana
The Guaranty Trust Company. mas pul .
chased Sc 250.0G0 per cent RECEIVERS Ger
rifcates Of the Wetronolitan Street Kai-
v-ov Ccmoany 70 be issued 70 take up 4
Ike ar1nurt OF receivers certificates ma
turing March Is. 1911.
NV TRUST COMPANY FOR JER-
cf-Y CITY.-ThA Carterct Trust Conpany
has been granted a charter 10 40 business
H. Jersey city. The new institution VII
re nvere1 in September az Wilkes street
ard sip avenue. The incorporators are
william G. Heprenhaimer Robert +. Jen-
nines. Charles l.. Coppirger. William L.
pv!.. John Nehl. ir. Walter ". Dear
George T. Smith and J. Hollis Wells.
FINANCE FORCM.-Henry CLOVIS will
deliver an address on rs Individual ana
Tornorate Great Wealth q Menace 20 the
Nation?" IL the Young Mems Christian
Association building. West 5lth street:
Wcdresdav evening. under the auspices ol
49, -st-a