The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-05-17

ses ssse,iy . pv ssftsssg 80 = efssfy
-.-a. a......ss.. a.. ot.a.,t
- - a..
f WV '-
NH"fts q" fF't~HH'"' Hf"'"'"'E '"
tr4'at ~ rfuFtffiaa = fefH'lHHi ~ fitheF
ttsir fha tffefnpf ~ hsiahtrH - ~ - eHas
st6is egs Me-, ~ fs. wg,qesess sseslse ~
Coco .s m.s.,.,.t a, as
~.
"''N"' WV wv W" "" w
e'Hss ~ Last serh fUd Y 80 NTs''e n's'H
tttaf ~ tha iHs lsvpl ~ rfires fHtr1ad fee
seb,,l6a bnit.ra N stnfHs ,%iestregl Nv raw
svt ,s.a, Vua a.. ,stuss q SO w,,Es,
s., - -. 49,.
~
WV" ""f wv WV "''"'" '"'
go vsry W'ie " imfrf'Hnee w w" dHV''
news AMI shlle the market y srHefnily
s'fpne the hu,lNe rs'hef esper'tiiv centesi
urs,n = fes Tatka These eefe fpf INC
m1s' rsg, me- A~ntiGan,atsd copt~f MA.
cunslH, Int1N PHeinr. tmefipau sugar
NsAnins Hrup#ivn Nspid Transit md
Chicaee, Nliwsuheg and ~ Paui shares
THE vs.. sftes MI. . tTetty representative
ilat, aithuueh " ~ fair Nv say that ths two
stecka first named Were M svsry way The
laahara w tho days tgadina Hea4un Tor
this, ~ cptrds, vas not hard ~ hnd IN
the splendid fapovt ~ tho Anaconda cutn-
pany fnads public to-day ~ tho stock
holders annual nesting. The retuPf which
only eoveted. ~ rorrss, Tho Operations N
the cntuuany for tho year rnded Deten.
her a, Ipo5, va fully Explanatory ~ tho
fecent notahle advance In thu price ~ tho
shares ~ the country'a great coppcr pro-
ducing concprna: and inaalnuch ~ the
profits ~ all ,hrae companies have In tho
present year enlarged NJ q much greater
rate than In tho preaching twelve months.
to-day'a disclosures werr suggestive of the
confidence with which holders u the prin-
cipal COPPER stocks are regarding the future
vsIua ~ their ,nv..,m.nts. The Anaconda
company exhibited Rroas receipts for the
year of nearly ga .Ooo Ooo. total net profits
of neayIv A ar on and a surplus Ism all ac-
counts AT tho close OF the year Of 7i.22 per
cen, nm the companv vs. sgOJ O0O. 600 % stock.
The net earnings during the
year were az the rate OF 1919 per cent. ON the
stock. IL IL easy. OF course, TO calculate
the meaning of ali this to the Amalgamated
Copper Companv. which IL believed TO hold
much more than a majority Of the Ana
oonda stock, and he assertion is probably
true that the AmalRamated mpa at
the present time Ia receiving. or IL justified
in expecting, returns from It's Anaconda in
vestment at the rate OF nearly 3, a share
on the AmalRamated's capital stock. The
output Of the other mines included In the
AmalRamated organization Is reasonably
we'll known, and in view OF the present
high selling price OF copper the cessation
OF litigation with the Heinze interests and
other favorable Developments, II is not at
all improbable that the A~malgamated com
pany Ia earning at the present time not less
than 20 per cent. upon its outstanding
capital. Hope, therefore, seems substan-
TALLY based OF a further considerable in
crease in the Analgamated's distribution
OF dividends.
During the middle OF the day the quantity
OF transactions in the market IA reduced
from its recent average, but in the afternoon
dealings once more became active and
prices made a further advance. Closing
prices were as q rule at the highest. Gable
dispatches from foreign financial markets
contained nothing Of moment, save perhaps
that they told Of indications that for the
time being there would be no abatement
In the Bank Of England's discount rate.
Although money in the open market in
London is still lent at a lower rate han by
the Bank Of England, the directors Of the
institution feel naturally that it will be wise
for them to replenish the Banks gold re-
serve before lowering the money rate, and
this reinforcement, it seems, is rapidly
taking place, as the Bank is meeting with no
oompetition in its effort to purchase all the
gold now arriving in London from pro-
ducing centres. 1t ia to be noticed at the
came time, however, that sterling exchange
here is exhibiting weakness, it having fallen
perceptibly from it's high point touched
some time ago; and should this decline con-
tinue our bankers will doubtless renew their
NEGOTIATIONS for gold imports. On the other
hand, the large loss by the banks to the Sub
Treasury Yesterday OF IS, s77, coo, making
n net loss by the Clearing House institu-
tons in this way since Friday OF 81. 755. 900,
seems on the face of things to indicate that
Of the gold engagements recently