New-York tribune., 1911-12-30
TOPICS OF THE STREET.

FOREIGN TRAHNG.-Foreign houses
bought about 5000 shares of STOCK IN a,,,s
"a number of issues. There were practicauy
no sales for foreign account.
BANKS GAIN CASH. - The reported
movements OF currency this week indicate
a gain In cash held by the banks of about
sl3.OO0.O00 which was brought about through
another heavy flow OF currency In from
the interior. The banks received from the
interior S2l. 1900 and shipped into the IN,
bank notes sent 10 Washington for re-
demption. The gain from the interior was
tl6,GS,g0. Receipts Of new gold were
tl,4oI,Co. namely. on New YORK Asssy ol-
flee checks. 81 22s,000. on San Francisco
Mint checks. $4,000 and on Seattle Assay
Office checks. S9.GO. Ordinary disburss'
ments by the Sub-Treasury were sll, ,s1.Op.
Payments by the banks 10 the Sub-Tress-
ury for customs. internal revenue, . per
cent redemption fund, etc. amounted TO
Sl6. $500 showing loss on the SUD treas
ury operations proper OF A$SuW. Inc
total gain from the interior and by new
gold amounted TO $l7677.0o0 Deducting
therefrom the loss on Sub-Treasury opera
tions proper the net gain by the banks was
Sl3, 2S7, 900 The movement or money In from
the interior was almost unprecedented Tor
this week Of the year. II was no douDt
induced by expectations on the part OF the
country banks that rates Tor call money
would rule high around the first OF tne
year. Receipts came mostly from Mlodie
Western and nearby places, large amounts
coming from Boston and Philadelphia. IN
the corresponding week last year the banks
received 955i 600 from the interior ana the
net Interior gain was only S,ll6tW.
DIVIDENDS DECLARED. - 1iVldenos
have been declared as follows: The BUSH
Terminal Company, regular senl-anhuaI
per cent on the preferred stock, payable
January .. ana regular semi-annual : per
cent on the common, payable January 10
the Alliance Realty Company, regular quaI
terly per cont. payable January 10, tne
ID, arlrf Ina "
quarterly per cent on the preferred paS
able January 10. and the Broad Exchange
Company regular quarterly ll2 per cent o'
the preferred payable January :.
GRAIN EXPeRTs FOR THE WEEK.
"Bradstreet's' reports the exports OF srain
for the week with comparisons, hguIes IN
bushels, as follows: Wheat. hour lncluuel;
2s55.530. against 4,5$O.@l last week ssnai amJ
year to date Si.670oS7 compared with ol,V-s,-
933 I'm the corresponding time In l9lO or mopH
233, 1876 contrastcd with 65l.6l3 last Week
and 1,149iil In this week year ago. ,v'
the fiscal year to date l34s9,36s, against A.
0i4 90 in the corresponding period In l3lV
AMERICAN TOBACCO FRACTlONAk
SHARES.-To compute the nu1npeL
shares Of subsidiary concerns 70 Whlcn ,rI Ine
holder of a given amount of American 10
bac Geo Company stock would be entitled
". y. Franklin e. Co, Of No. III Broad
way. have made up table running rom
! to 700 shares under the new OASIS sdS CO, o.
a common divisor of 10000 instead OF 4ol .eIf'
&C Trs2 announced by the Tobacco COM
pany, which makes possible quotation az
glance on any stated holding.
UNITED LIGHT AND RAlLMAlS.w
The United Light and Railways Company
reports for the year ended November ~
last. as follows Earnings on stock OF SUP.
sidiary companies owned. Sl4aVo; ,uteiCSC
on securities owned; s5o,&5 misceilan.so9SH9 .oS
income S3fS7l: total gross earnings, VS.
o49: expenses and interest. $53.3S net earn
ings. Sl75, ,sS9; dividends on first ana secoilr
preferred, S113,117: surplus available for
common stock, s62,"2. ,,,,-
THE BOND MARKET OCTLOOh;-
Spencer Trask & Co, III tHeli o"H""i' 80
cular, say: -, ,,.,,,oot
world at the close of the year 1911 shoWtu
q very decided Improvement IN many essen
tials over that AT the opening or tne yeai. a..
The situation as q whole is not WITHOUT ~
dark spots, and there are huinoel Iii III
contingencies which may ARISE tIsI VIZ
have a decided effect beneficial or othcr,
wise on the investment market; but viewer
broadly there is much for Wnlcn 10 oe
grateful, and many signs of promise ,..
az reyfeW of the year as whole with
esneciaI respect 10 the bond market shows
some disappointment There was, 20 ~
sure. a fairly large amount OF new ISSUES
put out, and what may be consldered re- Iea
sonably substantial absorption OF the same
but i'm comparison with the very faVorapie
conditions from monetary and other stsnu-
points that have been In effect for prac.
tically. the entire year, tme cinated MATE
"The uncertainty in connection with tho
various political factors. such as the anu
trust litigation. the prospective lTesldentlai
campaign, proposed tariff revision, agitaes
tion for monetary reform. and numner OF
other factors of similar Importance. AL pre-.
vented the ultimate purchaser in arriving az
the decision that it was. good tlfne III
which to invest his surplus funds. In so
far os most of the above factors are con-
cerned. the situation may be said to nave
improved to the extent that they are no
longer Of such determining weight IN the
consIdera ton of the situation as Whoie.
and have proven less detrimental than was
pypected.