The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-05-13

~ eis@ sfasgvsfs a Ayafsat e1astlthsaa
SAs lsas Iaokast ~ fearfluH Nv ~ 10
eset essqamees Nv vaipsa HeeuFfNd -
asV The 4staeiav half @@lua N en-
afars F~srhsaaa fe ffs,hNnHHliY ~ tiHfs
~ Ferersqnea NJ ffiera ghaH ~ asHHfsl
oaniaHeY too q0sNse ~ fqNaEi = hlGfef
Iavsl snf ~ a. eFyarsr aIsa ~ ATaqsas
IN M main Mevtna a1NHssrt ssaSgW
~ ihl4 ssfasoa b. ~ enaf . i4Fan haful~f
u esoe-stsndF s~tNraiseefa in~Rlaftv elrrN
(aefg arrnsfnss shetirar nv ~ IN W fnF
lAa afvanos w ~ fsy p~rsrediHs . HritfHv
ead ~ fhnas ofnfft'fs ~ aJmgluyiy ~
Tam. aeN isusliy found IN aVgsu pNH o.
e%reyanins mRsse' iesnd fhsis FrsHt tahiea
Nv eishHf difertinh hHtufaily fesulta ~ itps
tive ssassd IN = movement eontfaFy ~
ths ntartet's eenrrsi directioa Tssday's
feaefiun sas very Htuiefats, eftendiha
~ only frartiuHRl not lossns N tha raas
~ 0oas n ths active seoehs AMI Saa dysiht.
-, IN vlew N thu continuous fi~ IN th~
duseaslous slncr . sr~k aeo yesteyday
haediy sufficient to meet mo d~mands ~
tha professional trading elemsnt yet tho
masket va ssll theaslShsut, aad eviResd
Rot Tho siiahtrat pressure from any quarter
D. all focks ne Amaleamated CopFeT
NNNNNN WIZ eAINfHllN ANFNVNt wv FNNNfA
hofs being unpnestionably leRitimateiF
hassd upon The extraordinary profits nov
beinR made ny the cupf~r mining industry
throughout thu country and by The clear
prostsct that thu ast Fanewais 90 al ths
great coprar miping concerns THE year
will he tn" largeg, In their history. IN
ereansa NJ HivtSehdA ~ AZ preasnt paid
are not only morally cprtain Ivy the Ana
conda and A~malgAmatsd Copper companies
and other corporations ~ the sort whoss
stock IL chiefly deait In In this market. hut
on tho part of the copper eOmpaaies whose
securities ae mostly bought and sold in
Boston, which b SILL tbs oOuntTy's leadlng
market for copper stocks Actual prevail
ing prices for copper metal are. a. 10 well
known In the trade, higher than tbs quota
tons that are made public, and for some
time back more than one copper company
has been getting 70 cents for IL natal.
There was also to-day q notable advance
In Mexican Central oIpmon stock, due.
a. was understood. 60 n movement looking
forward to the removal for some purpose
Of q large portion Of the floating supply
Of the stock in the open market. There
was a renewal Of rtimors that plans for
the retirement Of tbs Wabash debentufe
B bonds were approaching maturity. and
this led to a rise To-day IN the various
Wabash issues. In which Missouri Pacific
stock and the stocks OF all the so-called
Gould roads generally shaved.
There was, as Is usually the case on Sat-
urdays, very littls news to-day Of fina ncial
importance. Decided improvement In
financial sentiment In Europe was again
appa rent, trae cen bic In part, II may DO, TO
the Sultan Of Turkey's surrender to the
English Government on the Arabian boun-
Diary question, This better feeling was
shown particula rly in a further reduction in
tho prioo OF bal gold and American Eagles
in the London tnarke in easier discount rates
in London a nd In predictions that the English
Bank rate, which was recently raissd from
g.; to Aper cent, would be next week reduced
to the old level. Thsrs was some selling OF
Pennsylvania stock to-day, having It's origin
in stories that the Pennsylvania Railroad
Company's short time notes which are
soon to be sold would he negotiated upon a
9 per cent. basis. These stories were, 1t
is needless to say, nonstrousiy absurd. and
Il was authoritatively stated that for tho
Pennsylvania borrowings Of this nature
a rate not in exoesS Of 5 per cent. would be
pun, anu 'imt ny Ieueoh VI 'U NSohiiScS
OF the money market as newly developed
1t was not unlikely that q rate evan more
to the liking OF the Pennsylvania interest
would be agreed upon. No little favorable
attention was dire oted to the f~fadreidl
Chronicles Compilation Of railroad earn
ings for April showing an increase Of liza
per cent. for the period in the gross earn
ings OF many Of the largest railroad cor
porations Of the country, as against last
years gain Of 81 per cent. over the pre-
ceding year; while la banking circles much
emphasis was laid upon the continually In
creasinR prosperity Of the iron and steel
business as shown in tho very large orders,
running well into next year, now being
placed by the railroads for steel rails nd
for similar commodities. There are trust
worthy reasons for believing that the cash
surplus OF the United States Steel Cor
poration and the prospective increase In
the earnings Of the corporation are now
amounting to figures which make con-
alteration by tire dire ctors inevitable at
no very distant date of the question Of re-
Stunning dividends on the corporations
common stock, Profit taking in tho mar
ket was, In accord with experience. more
noticeable after. the publication Of the
strong weekly bank return than II was pre-
viously; hut at the close prices were again
firmer. The hank; abatement disclosed q
reduction in loans by the Clearing House
institutions during the week Of SO, 400, 900
and an inorease IN cash Of $500. 900, These
transa ctions resulted In an increase In the
bank surplus OF nearly $1,000. 900. which
brought the total surplus up to an amount
not greatly below that at this, time y year
ago and to figures above the average OF
the season for the last few years, Indica-
lions gathered renewed f0ros to-day Of q
returning movement to this city OF the
rangements weSa concluded. at the. SUBJ
Treasury for a remittance here from San
Francisco of $500, 900, " ~ - 's'"'
q. Twc--Nv' -ti oH ~ %
New York stock Exchange Sales May IA.