The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-05-15

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hNNHIN ENHNf AHNHN NNHNN WV y -
Vsaee IN pfires puf Nv a0 frrrftfHee IN
ska saws gsesseaa ~ SATURDAY Tho
msyea9 ess N4teb guiagaf thHH v feeeu'lY
ne ha.N aHd ess lNieri afg =
~ihsfoHMhly u~ntHeaesafiHa sNs1f ths entf
faafura N huslneaa 90 . pFnW 'sk'Nf
e~ssysluaat ~ enlrh ~ Ntafts' 80 e'sifly
sEtltai ~ ~ naf' N she-" etn t"n dars
20 ekfeNdiv gufrhfsai ar'Htti,les ~ ~
haeealn rfices thrn% pfevtiilHei hu' N sp'ir
N ~ thle pgieus Halntflue'i 4 Hffn ir,lef
tane aaf ihafe 80 Nv evtAearr " ehn' :
keren IN wall a.fer' 81 pFesrus ~ s"ll
sgpena fha lssaeea n ths day. ifsdtne
N sveFy ssy sers ~ tnslRamsf'ai tdp
rec and lnaeNuta shHfra fhr-r rrsn
ahasplv Iafarr mhiiav ~ ars1un, " me
continuing developing strength ~ ~
fnestl5n ~ tha e,ptwr mlntne indis'ty
shltb Wss fofcybly lthfssfat~i ~. iav IN q
plsa M ~ iSndpn s,afkr, " ~ is q tow
In wv prics N cbpper install, an aiysnc"
equivalent ~ neafty a rent 4 round IN ~"
nfics NJ cupt~f a. ordinarily quoted herr
Thna @ynveFaant With ttr tfadr Situation
In thla faeart have Tor q KING tins back
hem awara N The small supplies ~ cDrrer
ahfsah and tha widening ise Tor the install
tharN, ~ sharp an advances In The prics
~ tha pry,iuct ~ va to-day espeti"nced
In London Waa. however. " surnably due
~ tho cloaina out Al a losa ~ speculations
for Tia deriIne In tho commodity IN tho
afternoon tho copper share' here fell,
supposedly IN account n a rrduc,Ion In IN"
quarterly diViden I on the stock ~ tho
Parrot Mining Company, n ~ the sub
a,dlary companies IN tho AmalRamated
organ ration, from 10 10 % ccnt' q share.
II has heen no secret ~ late that tho output
~ tho Parrot mine In Montana was dimtn.
ishlng. although there are anund reasons
for believing thai tho development work
now being undertaken at thu mine will
rrsult In %uncovering as rich veins ~ ore "a
those previously worked hut the net reve.
nue. OF the mines TO the Amalgnmated
Ownership has In recent years been only
about $4,000 annually. the mine being
tho smallest Of the concerns In the Anal
Ramated combination. To-day's reduce
ton in the Parrot dividend rate therefore
makes only a trihing reduction In the ANAL
gamated's general prof, and one utterly
insignificant In view OF the enormous in
crease In the earnings Of the Anaconda and
Boston and Montana companies, OF whose
stock the Amalgamated possesses much
the largest holding. Other strong stocks
In he fore part Of the session to-day were
the Br oklyn Rapid Transit, Southern
Pacific and American Smelling and Refining
shares and the entire group Of Wabash L.
sues. Rumors for which there is believed
to be substantial foundation circulated
that the present management OF the Wabash
company had made an offer-that may or
may not prove acceptable-to the COM
mittee that has taken charge Of the interests
OF the Wabash debenture bondholders
Of an exchange Of their bonds into new
securities upon terms that represent a
very considerable advance in the price OF
the bonds as currently quoted At noon
the market became dull and sagged of
slowly thereafter until the close Of bust
ness. Net declines In few Of the active
stocks were more than a full point.
The only financial ne WI Of moment to-day
and since the close Of the market last week.
aside from the developments In mining
matters to which reference has been made,
was, in the first place, the announcement
that the Supreme Court OF the Uni'ed
States had refused the motion Of counsel
forthe company In the Chicago traction cases
for a rehearing Of the argument in these
cases which, it will be remembered, was
decided adversely to the contentious OF the
company. 1t was generally understood
that the motion was a mere formal matter,
made with no real hope that it would be
favorably entertained. The action Of the
court as to-day made known therefore ex-
! cited little interest. or much more impor.
tance, Of course. was the publication after
...--z. La,,ra nm Gntt,rJau nf tho Gnvarn
ment's statement Of our foreign trade fol
April, showing that the country's exports
| Of breadstufTs, cotton and other domestic
products, as compared with April last year,
increased nearly SIS, 900 900 and that this
total value was the greatest ever known in
the month OF April. Aside from this Wal
Streets attention may we'll rest upon the
fact that the value OF exports of this class
for the ten months Of the fiscal year to date
Is nearly $l4e ,000, 900 greater than it wal
for the corresponding period last year and
rises far and away above all previous export
records OF the country for the same length
Of time. Should our wheat crop in the pres
emit season fulfil It's current promise Of being
as large as it was last year, or larger, there
would seem to be little doubt as to what the
fact would mean to American finance ir
every direction. Very encouraging matters
to-day were the further ease in money con
ditions and the further improvement ir
fnan cial sentiment in Europe. Four anc
one-half per cent. for thirty and sixty day.
money and four and three-quarter per cent
for the longer maturities were in general thu
best bids to-day that lenders could obtain
although it is still doubtful il any great
quantity OF time money has been put GU
for six months or longer at a rate lower thai
s per cent. Firmness running to the point o
buoyancy was reported to-day on most o
the foreign markets. The Bank of England
had no difficulty In securing all the golc
offered in the open London market, and al
easier tendency in money was more marked
In London and Paris han it was. even. at tn
close Of last week. Sentiment in banking
circles to-day distinctly favored the prob
ability of a reduction this week in the Banl
of England's rate OF discount.
New York stock Exchange Sales May IA