New-York tribune., 1912-02-02
TOPICS OF THE STREET.

sold about 5000 shares Of stock In TINS mar
ket.
DIVIDENDS DECLARED. - DIVIDENDS
have been declared as follows: or!ppniv
Creek Central Railway, regular quarteTly
per cent on the preferred. payable March
/. PENNSYLVANIA Railroad COMPANY, regular
quarterly 1i2 per cent, payaole fe2IuaL eIo
q: Portland Railway. Light and rowe
Company, dividend OF per cent PaSa"'e
March ].
STOCK EXCHANGE MEMBERsHnipS. ;s na
-Phillipse h. r. Greene and Huette an NJ
mack have been elected members OF IN"
New York Stock Exchange. The member
ship of Frederick =. KimoaH mas oeeh
posted for transfer to Nilliam Ni''"'"'
UNDERGROUND ELECTRIC DLdi,NNri DiNdii
DEND INCREASED.-The ondeT ondnn s,VS,,'
Limited. has declared a dividend AZ tne
rate Of 2 per cent year on It's per ~ m
income bonds for the half year enden IL IT,
ccmbor 81. 1911. PAYABLE Marcn Ma tho ii rate ate
of ~ per cent year for the previous ""'i
year.
MONEY AND BONDS.-Gn their feoru-
airy market letter Spencer Trask ~,
say: Plethora OF money Is not aiWa!3
an index of true economic prosptnt.E,, >, oys
I'm our case. and after such a period OF eH,
pansion as We had been eXperlehclhS ~!
the last decade, IL is fortunate that iIaa'
I'm our feverish activity was CaHed III tLillS, I'M,
Otherwise recuperauon Wouid nav uore-
slower i'm coming than II is now. more
over in view Of the period or poltlcal un
certainty which we are now entering. ~ -
best that speculation in its various loirnS lo,
be kept down as much as possible lne
continued ease in money has caused tsir
amount Of Institutional buying OF oolus.
high grade securities enjoying an eaI,S
maturity. having been preferred 10 LUns
term bonds of equal security. ana selliII,
on about the same basis. on the other
hand there has been quite satisfactory
demand from the individual investor 10.
bonds of public service nature. NuIuelou
issues of that character have recently met
with A most favorable receTtion, lndlcatlhs
that the public Is growing more appreclatlNe
Of the true value of such investments & &Ou.
Judgment is that the demand for TINS torIn
of security Is certain 10 increase, parucu-
IarIy as the income Is greater than on
railroad or municipal bonds of equal stand
ing, and the question or income u p@utn. @
ing one with most individuaIs y. M :,
times of generally high living expenses.
ADMITTED TO FIRM. SeWara
webb. jr.. son Of DR.. W. Seward Webb ana
grandson of the late William II. Nanderoilt,
has been admitted to partnership IN 'ns
Stock Exchange firm of Du Val; Greer *
90. Of No. a Broadway Mr.. Webb en-
tered the office Of J. y. Morgan q Co.
upon his graduation from Yale IN l@s' re-
naming there until the spring OF 1910 ana
since then has been with Du Val, Greer &
90. He married MISS Gertrude Gaynor' a
daughter Of Mayor Gaynor. in 1910.
TO LEAVE GUARANTY TRUST COM
PANY.-The recent merger or the Fltth
Avenue Trust Company with the GUARANTY
Trust Company has resulted In several
changes i'm the personnel of the companies
IC. d. Iandale, formerly yiCe-president OF
the Fifth Avenue Trust Company, VINO was
retained as manager of the branch until the
policy Of the company in regard 10 the per
manent management could be determined
will retire on February 10, with the grant
Of a years leave Of absence
ADVANCE is SILNER.-Rcgarding the
advance I'm the price of silver, Thompson
Towle & Co say: The steady rise i'm sill
vcr quotation to 5N,C an ounce indicates
ar advance Of &C. since tho close of 1911;
The present uric" is the highest recorded
since January !. lgNS The advance last
month is traceable largely - buying by
pool In India. II Is said that this pool ON
the recent riS" increased its holdings by
approximately 20 OOO. .OOO ounces. This pool
has been carrying for the last two years
% 600 O0O ounces Of silver. which. with the
amount just purchased. brings tho total sill
Yer carried To around 100000 ounces. The
Indian government has not purchased silver
for coinage purposes for number Of years,
and il is the expectation that the gov
crument will replenish it's supply that has
brought about this speculation. The future
of silver will depend largcly on events in
India the ability of this pool 10 carry the
silver and also to the purchase for coinage
nv the Indian government. Tn" recent dis
turhanCes i'm China are also one ot the
causes which have made FOR higher silver
quotations"
EXPORTS or COPPER Exports of cop-
pnr for the month Of January were 1O,SI
tons. az compared with %. .2j7 tons for Janu-
uary. 1911.
INLAND STEEL COMPANY.-At the an
nual meeting Of the Inland Steel company;
on March D. the stockholders Will be asked
to authorize an increase Of 10 per cent IN
the capital stock. 1t is understood that the
new stock will be offered 10 holders of rec
cord az ia1 In the cirh market the stock
OF the company was 10 bid yesterday.
NEW ASSISTANT CASHIER. Stevenson
T. Ward. formerly cashier OF the Bank of
Mansfield. at Mansfield. Ohio. has been ap-
pointed an assistant cashier Of the National
Bank Of Commerce In New York.