New-York tribune., 1911-04-08
TOPICS OF THE STREET.

FOREIGN TRADING-Foreign houses
were not active factors In the local stoch ,ss
market There was pracllcaiiy no DusiheSS
Oil arbitrage account.
UNITED CIGAR DIVIDEND DOWN
The directors OF the United Cigar Manu-
facturers Company have declared a quar-
terly. dividend Ct per cent. reducuon, OI
payment In exclamation OF the decreased
dividend disbursement 1.-THE the ,presiddenGt, G,ysr oI
coDany Of is BUSINESS as
smailar s m net PRO profit. The decrease has been
caused entirely by an increase @ In me me COST ;
crease the management has not consldersu
it expedient to meet by reducing the quaI-
ity OF the cornpanys output, wnlch IS Pc
ing maintained ct ITS highest standard.
rubber prices continue to show decline
in both the New York and London markets
While there have been temporary re-
coyeries, those in a position to know say
they have been due entirely TO manipuia-
tion and that there has been no increase
IN demand among either American or
foreign manufacturey Best grades OF up
river fine are quoted abroad at from 81 AZ
to 81 a.. Locally the same grades are be-
ing sold In small lots at 81 80 to sl.4l. COM
pared with. 81 40 on Wednesday. Otner
grades, including the Ceylons, have de-
grades. ceylon offerings have been un-
Usually large during the last six weeks.
and while the quality has been OF the best
those predicting a recovery in the market
Rubber prices now are the lowest OF the
past two months and represent 80
cent drop from the high OF this period. In
fact, prices seem to be slowly working to-
ward the low level of the latter part OF
January. the last time that any real buy
ing was reported.
BANKS GAIN CASH.-The estimated
IN, 4 hHuy a
net gain from all sources Of S3e99,eoo. The
banks received from the interior sH,lSl, 600
and shipped into the interior ss,os2.VJo ~
Guiding $4,000 national bank notes sent
TO Washington for redemption. The gain
from the interior was Sass. 900. Receipts
OF new gold were sl.60SG00. namely, on
New York Assay Office checks 900. on
San Francisco Mint checks $29 900 and on
Seattle Assay Office checks $62i, Ordi-
nary disbursements by the Sub-Treasury
were s2i i256.pl0 Payments by the banks TO
the Sub-Treasury for customs. Internal
revenue. . per cent redemption fund, etc,
amounted to s27,054C00. showing loss on
Sub-Treasury operations proper of 81 79S,O 900.
The total gain from the interior and by
new gold amounted to s6,lTOOO Deducting
therefrom the loss on Sub-Treasury opera
tions proper the net gain by the banks
was s33e9.000
GRAIN EXPORTS FOR THE WEEK.
I,radstreet's reports the exports OF grain
for the week with comparisons, figures in
2143.0i3. against 3,576s64 last week and
1,771.CS6 IN this week last year; from July
1850 1872. contrased with I1,H6,663 in this
period in 1910. Corn l.6l6.0i5. compared with
with l,125,2s6 last week and 635.62i in this
week a year ago; fiscal year. Al, ,0S3,99l.
against 23S7l 426 at this time a year ago.
BESSEMER G. LAKE ERIE RAIL
ROAD.-The stockholders of the Bessemer
& Lake Erie Railroad, a subsidiary Of the
United States Steel Corporation. have re-
elected directors. The officers elected are:
President James II. Reed; vice-presidents.
T. H. Utley and p. G.. Kerr; secretary and
treasurer. George W. Keper.
holidays FOR EXCHANGES. - The
New York Coffee Exchange will be closed
on Friday and Saturday OF next week for
the Easter holidays The Produce FIX
change will be closed on Good Friday.
NJ, X. & T. DIRECTORS REELECTED.
AT the annual meeting Of the stockholders
Of the Missouri. Kansas & Texas Railway
Company, held at Parsons. Kan, the retir-
Ing directors, Frank TrUmbull. Hans Win
terfeldt, \. a. Allen and a. j. Poor. were
re- elected.
APPLICATIONS TO LIST.-Applcation
has been made to the Stock Exchange to
list Pittsburg Steel Company $1,000, COO pre-
ferred stock and Weatherford, Mineral
Wells & Northwestern s2SO.o0O additional
first per cent bonds, due 1880
EXPORTS OF COPPER.-Exports OF
copper for the week ended April were
5A tons, making from April ! a total OF
5.50a tons. compared with 3,4S3 tons in the
same time last year
ELECTED a DIRECTOR. - William
Schramm has been elected a director of the
Bank OF the Metropolis.