New-York tribune., 1911-01-05
TOPICS Of THE STREET

FOREIGN TRADING.-Foreisn houses
tod upward Of 10000 shares on balance in
lie local stock market. The heaviest sales
we're in United States Steel.
COAL MINING IN 1910.-According to
reports received by the United States Geo
logical Survey from coal mine operators
end others familiar with the industry, the
production Of coal in the United States
during 1910 was between 475.000,000 and
crease from the output of 459, ,715, 704 short
tons in 909 and approximately within
per cent Of the maximum previous record
Of 4S0363,424 tons, produced in 1907. The
total production Of anthracite in Pennsyl-
,ania IN 1910 is estimated TO have been
f3,s75.000 long tons, as compared with
t246S,464 long tons in 1903 and 74,347,l02
long tons in 1908.
BANK CLEARINGS IN 1qlO.-Bauk
tlearingS usually reflect very closely the
volume Of business operations, and 1910
proves no exception 10 this rule as they
clearly indicate the gradual business de-
Preston that developed during the prog
fess OF the wear Total bank exchanges
tt all cities in the United States, accord
ing TO statistics collected by r. CT. Dun &
Co, which include returns from 1l2 lead
Ing centres, amounting to 62,S39, ,223,622,
loss Of IA per cent compared with 1909,
but gain of l.5 per cent over the active
year 1906. The loss. however, compared
with the previous total, IS chiefly due to
the marked decrease at New York City
DIVIDENDS DECLARED. - Dividends
have been declared as follows: ]. G.. White
& Co, regular quarterly / 2 per cent on
The preferred. payable February /; the
american Light and Traction Company,
regular quarterly 2l2 per cent in stock and
~ per cent in cash on the common, and
regular quarterly y per cent on the pre-
Company of New Jersey, regular serni-an-
tual per cent and an extra l per cent.
payable to stock Of record Of January 8.
LEGAL INVESTMENT BONDS. -, Red
irond & Co, Of No. 20 Pine street ano No.
s2i Fifth avenue, New York, have issued a
tOoklet giving a list Of the railroad bonds
that are at present legal investments under
tae laws Of the State Of New York In
Cluded in this list are bonds which may
become legal later on.
PIG IRON MARKET.-Thus far the new
Sear has not shown any increase in pig
Iron orders. The tonnage both In orders
End inquiries remains small, with no deti-
nI'e outlook. One local house reports few
orders received, aggregating about 800 tons.
TRUST COMPANY OF .AIERICA.-The
Trust Company Of America has accepted
fhe resignations of Charles z. Mitchell as
escretary, and Frank W. Black, auditor, 70
take effect February /. On that day the
men named will establish partnership for
Tho handling Of investment securities.
ANN ARBOR EQUIPMENT NOTES
larson, Son & Co. are offering a new issue
ot $1,000 Ann Arbor Railroad Company
yer cent equipment notes. maturing $30oV'
every six months from July 4, l54I, 10 Jan
usry !. 1921, inclusive. on a 5ss per cent
basis The equipment Is 80 per cent paid
Tor IN cash by the railroad company.
KUHN, LOEB & CO.-Correspondents Of
Kuhn. Loeb & Co. have received circular
edvces from the firm that IL has granted
single power OF attorney 70 Jerome j.
Hsnauer, who has has heretofore held the
firms Joint power OF attorney.
MINNEAPOLIS & ST. LOUIS NOTE
EXTENSION.-Hol OF the Minneapolis
q 81 Louis ) per cent notes due February
) 1911 are reminded that to-day is the last
CAV for deposit OF the notes for extension
With Speyer & Co. A large amount OF the
notes has already Been deposited for eX-
tension.
NEW TREASURER FOR NATIONAL
FAILWAYS.-J. A Hendry formerly as
tLstsnt treasurer Of the National Railways
Of Mexico has been appointed general
treasurer 10 succeed the late ]. VI. Frazier.
NEW DIRECTOR OF GUARANTY
TRUST COMPANY.-John r Moron,
president Of the Atlas Cement Company,
has been elected a director Of the Guaranty
Trust Company.
STEEL RAIL ORDERS.-The Illinois
steel Company reports orders for 1870 tons
ci rails and the Tennessee Coal and Iron
Company reports orders for l25 tons.
CHARLES H. JONES & CO.-Edward
Es Ia Poer has associated himself with
Us Inactive securities department Of
Casrlss II. Jones & Co, No. % Broad