New-York tribune., 1907-07-07
TOPICS OF THE STREET.

TOPICS OF THE STREET.
FOREIGN TRADING.-Foregn houses were not
active IN the local market, dealing in few
thousand shares. In London the general market
was quiet and steady, while on the Paris Bourse
the Same conditions prevailed. A frmer tone was
reported IN the London discount market Gold to
the amount Of 90 viii be available in the Brit
fish market tomorrow, and the chances are Paris
viii be a competitor for the metal though 1t Is
likely the Bank Of England will secure the greater
part.
MARKET OPINIoNs.-opinions of leading Wall
street houses follow:
Henry CIews & Co.-If the weather continues IA
vorahle and crop prospects improve generally in
July as they did in June we may look for a
active and stu higher market especially should
funds return from the interior and assist in re-
building local bank reserves. There IS nothing IN
tie present situation to warrant further dstTust,
and in the absence OF unfavorable developments
TIE outlook is for better prices At the same time
have already had considerable rise, and on
any sharp advance proht-talling viii be desirable
Miller a CC-Ne stu are inclined 10 believe that
the market viii gradually rise 70 a higher level,
commensurate with the cost Of borrowing time
money over the first of the year. When we shall
have reached these figures we shall probably have
Z halt awaiting development OF the crops. Mean
time We still think stocks should be bought.
Carpenter, Bagot & Co.-There can be doubt
at al that confidence has been improved to some
extent and the bearish feeling that has been
long in force has diminished materially and in
some quarters has been entirely eliminated. and Il
seems unreasonable 70 expect material advance IN
securities, suojec: OF 10 the usual recessions
attending advancing market.
z. R CHAIRMAN & Co.-Short,y we expect TO see
the market react, neither necessarily probably
through its recent low figures but sufficiently from
these prices 70 permit Of advantageous purchases.
4 o. Brown & Colt looks now as If the inter
Il control OF the market are working for
gradual Improvement with only very moderate
oessioDs, and unless there are unexpected adverse
Developments there seems 70 be no serious obstacle
IN the way.
T. A Mcintyre & Co-The market IS still full Of
manipulation and bull tips many stocks for still
higher prices generally being handed out
Thus while We DO not believe IN Il, the bull manp
Ua-ton Is likely 10 be continued for a further rise
OF or points We would. however. continue to
advise caCticn in operations.
JoAn H. Davis & Co. say: There IS a small
black cloud on the Fer Western horizon, now no
larger than mans hand. Let as nope that It
grow no darker and expand not at all In volume
The reference IS 70 the relations between this coun-
try and Japan. L seems well nigh incredible that
the several points in controversy between two na-
tons the relations between which have heretofore
been slgnaly friendly Will not yield 10 diplomatic
settlement. We dislike even 10 raise the point
that any other issue be possible. In any com
liberation Of existing conditions. and IN any fore
'ast Of the future It Is impossible. however. 10
overlook the fact that this situation. until finally
adjusted. contains elements Of danger and the
possibility OF a worldwide disturbance in the
money ana security markets"
Granrds & Lawrence cay: ''Ths continuation Of
the upward movement IN the stock market after
tae 10Th inst Will depend partly the sentimental
eject q the SUCCESS OF the Union Pacific bond sub
scriptions and partly the growing of
mOney-which can be depended for several
"eeks-but more especially on fundamental condI-
tons. July Is generally a month Of advancing
prices IN the stock market The crops are becom-
ing every day better assured. and the annual
earnings Of railroad and other corporations for the
hscel year can be approximately computed before
the end Of the month
THE MOVEMENT OF COTTON.-"The Financial
Chronicle reports the total port receipts Of cotton
for the week ended July at 14273 bales. against
A59 bales in the preceding week, making the total
receipts snco September I, 1906 9.6l2S5s bales.
against 763l2 bales for the period Of 1906 06,
showing increase since September l. 1906 of
2Gs546 bales The weather reports by telegraph
T~F-- = Tlnr l,gG Ir1v.
quite favorable the whole during the week.
There has been rain in most districts. but in por
IONS OF Texas there are complaints OF lack OF
moisture. As e rule correspondents report that
crop Is improving. Complaints Of damage from
Dol! weevtls continue In Texas.
SUDDEN MOVES IN COPPER SHARES.-Sen-
sauonal movements IN the price of the copper
cocks both the Exchange and on the curb |
"ere the feature Of yesterdays market. The
Development Of such activity was unexpected and I
street gossip considered II curious eoincldent
that Araalganated advanced so sharply almost
Immediately following the return from Europe OF
r Il Rogers the president or the company IN
1oncou thu cOppeYs were strong and further ad- |
vances were predicted.
BRUNSWICK NATIONAL BANK.-The organ |
izers Of the Brunswick National Bank viii hold a
meeting very shortly for the purpose Of electing
me following directors: D. w. MacWillams, j. 4. !
S*anstrom. president Of Home Trust Company;
waiter Geer, j. 4. Hill, @. l.. Shipley, f. {. |
Townsend. General J. T. Pierson ]. B. chasseaud, !
2 IL Peet, l. r Palmer. Henry A. Maurer. c. II. |
pullman, c. B. Fuller, Peter Gilsey and Paul |
PfOtenhauer II is expected this bank will open |
for business about September l.
.FRIEDE GLOBE TOWER STOCK WITH |
DRAWN.-The Friede Globe Tower Company an |
hounces that It has withdrawn from sale $4,000 |
preferred F:ock. one-half Of. the original issue.
Less than S2J0000 Of the issue remains to be sold.
and the company believes that profits Of It's anuse
fent enterprise Coney Island will be so large |
that It will be unnecessary TO sell any Of the re-
tired stock.
MONEY IN NEW ORLEANS.-The money mar |
Eet at New Orleans continues unchanged with call
loans st 10 per There has been little |
widening yet in view OF crop requirements and |
All demands have been easily met. The weekly |
bank statement shows little changes Loans In |
creased hy only 200 and deposits decreased !
$4,000
STOCK EXCHANGE LISTING FOR HALF !
sEAR.-rotal nstings the New York Stock |
.Ezchange representing capitalization for the !
hsJf year ended June 90 according to compilations
MADE BY the Chronicle amount 20 $10i,5o0Go0 in |
Dohos and about SSo50000 in stocks S95. 600 600
OF both stocks and bonds
BANK CLEARINGS.-The total bank clearings |
,or the United States for the week ended July 6 |
lone day estimated) $2Sll4O36s against s255l,-
.s'Ssz In the preceding week and S. ss 9s7s13 for