New-York tribune., 1907-10-13

Chronicle gives the total port receipts OF cotton
for the week ended October IL as 2o.455 bales
against 9i8 bales for the preceding week and
81 112 bales the week before that, making the
receipts since September l, 1851 9o.57S bales
against 1.332G75 bales for the same period OF 1896
showing "A decrease since September J. 1907. OF
5l4s7 bales
ADMITTED TO QUOTATION-The rights" to
subscribe for tho new common stock of the Ten
nessee Coal Iron and Railroad Company have
been admitted to quotation in the unlisted depart
ment OF the Stock Exchange.
PIC IRON CERTIFICATES.-Pi iron certin-
Gates at the New York Produce Exchange Were
active and easier for regular, but quiet for stand
ard foundry. The sales Of regular were 800 tons
Of October at $s, 800 tons OF November at SIS and
500 tons Of December at $1S. There were no sales
of standard foundry. Prices for standard foundry
follow: Cash, October and November, S1s 30 bid.
MARKET OPINIONS-Market views OF some of
the leading Wall Street houses follow:
Henry Clews & Co. say: Confidence has received
another rude shock through the amazing
posures resulting from the Metropolitan Securities
investigation. Stock market values also
settled by other influences. Monetary conditions
still very unsatisfactory. The demands for
moving the crops and for general business very
large. the situation being materially aggravated
by the high prices prevailing for nearly all com
modities. The situation is rendered more acute by
the fact that we cannot depend upon Europe for
financial aid 20 anything like the degree which
have done for the last three or four years. Our
credit abroad has not only been impaired by well
known conditions, but We less able TO COM
mand that assistance than usual. Usually at this
season there is an ample supply of grain and cot
pended upon 10 bring gold this way If needed
TO extend credit abroad Exports of both
wheat and cotton, however, or less re-
strained by high prices. It is probably true that
eventually Europe will be compelled to take
wheat and cotton high basis. but the fact
that foreign buyers at present holding off is
less detrimental to the local financial
situation. There is just other element which
tends 10 delay the restoration of confidence. and
that is the growing conviction that the present
year has witnessed turning point in business and
that we are to face at least moderate business
and Industrial reaction. The outlook of the market
is extremely uncertain
Grannis G. Lawrence say: Probably the wide
publication of the metropolitan Street Railway in
vestigation has much influence in deterring the
public from buying stocks this break and so
made the work of the bears more successful: bur
monetary conditions continue to dominate the mar
ket The statement of the Bank of England yes
terday again unfavorable compared with
pared with the corresponding week last year The
advance in exchange Immediately caused fear of
gold exports, and this shows how sensitive our
market is to such influences. international bank
ing houses say that gold imports are at least as
probable this month gold exports Such
the stock market There are many anomalies In
the present market which afford good opportunities
for trading both sides. For example, consider
United States Steel preferred, which as a cumu-
lative per cent stock is more valuable than the
per cent second mortgage bonds, and yet the
stock is selling points below the bonds''
Marshall Spader & Co. say: while IT is not
impossible that some greater conservatism may be
manifested by operators working for decline we
can evidence Of speculative interest, either
professional otherwise, in favor OF advanc-
ing market
Carpenter, Baggot & Co. say: Good securities
much too low as they were too high year