New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-05-18
TOPICS OF THE STREET.

FOREIGN TRADING.-Foreign houses
were heavy sellers Of stocks on arbitrage
account in the local stock market, putting
out upward OF 5000 shares The heaviest
sales were In United States Steel, Union
Pacific and Amalgamated Copper.
DIVIDENDS DECLARED. Dividends
have been declared as follows The Cruel
bic Steel Company. regular quarterly ls4
per cent on the preferred. payable June 80,
the Harbson-W Walker Refractories Com
pany. regular quarterly z or ] per cent on
the common, payable June I; the Detroit
& Mackinac Railway. regular semi-annual
2i2 per cent on the preferred and 2i2 per
cent on the common. payable July !, the
United States Cast Iron Pipe Company.
ferred, payable June ]: the United Dry
Goods Companies. regular quarterly ~
per cent on the preferred. payable June !;
the Associated Merchants Company. regu-
cent extra on the common. payable May 81
the American Piano Company. regular
quarterly IA per cent on the preferred.
payable July / the Cuban-American Sugar
Company. regular quarterly 10 per cent
on the preferred. payable July !. the De
trOit Edison Company. regular quarterly
ia per cent payable July Is, the Quaker
Oats Company. regular quarterly 2ie per
cent on the common. payable July 10. and
regular quarterly II per cent on the pre-
ferred payable August 81. the cities Serv-
ice Company. regular monthly y per cent
on the preferred and = per cent on the
common. payable June J.
RUBBER PRICES AT Low LEVEL
Crude rubber prices yesterday were the
lowest OF the last three years. London
quotations for Para grades call for 81 106
81 Il. immediate delivery. and 81 10 for July
August Prices here are approximately
/ cents lower The only approach 10 this
figure was in January Of the present year.
when rubber dropped 70 81 Y in New York
The last quotation previous 20 that below
s. IS was during 1908 The decline in crude
rubber prices IN the last two weeks has
been steady. and unless the automobile
manufacturers enter the market on
greatly increased scale there seems small
chance for recovery in prices in the near
future
RAIL ORDERS The Monongahea Rail
road Company has bought 1000 tons OF rails
from the Carnegie Steel Company. The
/ Tennessee Coal and Iron Company has re-
oeived an order FOR 800 tons from the New
+ Orleans Mobile g. Chicago Railway COM
/ pany. and Stone g webster have bought
! $50 tons from the Coloraaoo rue and IRON
/ 10 have bought 80 tons from independ nj
b manufa CtuTers.
/ COPPER FTRMER. Tile copper market
Is hrmer Sales of electrolytlc are reported
: 10 have been made al ia cents a pound
. which rs 4 cent above the low price OF II
I cents a pound The advance II attributed
/ 70 improved sentiment resulting from the
/ decision Of the Supreme Court I'm the Stand
. ard OIL case Sales OF copper. however,
have not reached large proportions as yet
/ FLORIDA EAST COAST RAILN AT
the annual meeting Of the Florida East
/ Coast Railway Company j &. Slater was
/ elected q director. Increasing the nlelhp'I-
/ ship OF The board 30 nine. Other directors
/ were reelected Subsequently the director
reelected officers. Henry NJ. Flagler Delns
I made chairman Of the board ] r. Par
/ rott president 81 the Florida East Coast
/ RAILWAY Company, was elected president OF
the Tlasler Hotel System.
APPLICATIONS TO JOIN CLEARING
/ HOUSE.-The directors Of the People
/ Trust Company. OF Brooklyn. have made
/ application 10 toin the New York Clearing
/ House Association
/ OFFERING OF BONDS The issue OF
/ si1927 600 Of Central New England Railway
| FIRST mortgage ( per cent hfty-year gold
! bonds Recently purchased from the com
I psny By j =. Morgan 4 CO., are now Of
I fered 10 the public by that firm. In con-
/ junction with the First National Bank ana
/ ire National City Bank. At 93l1 and accrued
I interest the principal and interest OF these
/ bonds are uncOnditionaily guaranteed BY
/ lie New York New Haven Hartford
| Railrosd Company, which holds practically
/ All Of the capital stock Of the Central New
/ T,rgland company. They are exempt from
! io~si taxes in New York State They are
! eecured by a first lien on l3l miles Of rail-
I rosd Including the Poughkeepsie Bridge
/ aCross Tho Hudson River The bonds are
! ~e6eeu78 bic on any interest date after jan
/ ,,,ry / 1921 az l05 and interest
/ p.1t.cTED DIRECTORS. w llam n
/ rf6eeIock second vice-presi1ent OF the
! Douglas Robinson. Charles Brown Com