New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-02-05
TOPICS OF THE STREET.

FOREIGN TRADING.-Foreign houses delft IN
l5o0o shares In the local market. selling bal
ance In London the general market heavy.
Foreign bonds were under pressure from the Con-
tinent Money in fair demand and easier in
London. owing 10 the return OF February disburse-
ments In the event OF heavy demand for gold
for American account higher rates are expected.
STEEL RAILS.-There is every indication that
the steel rail mills Of the country before the close
OF the current year will be in a position to turn
out 100000 tons OF all classes OF rails. The ag-
gregate capacity OF the plants viii be much larger
than this but production as IS well known is lin
tied to the ability of the mills TO secure sufficient
supplies OF steel. An independent steel COM
pany has secured contract for 10000 tons of steel
plate. representing about s7oO.0O. Sales OF $1,000
tons OF steel rails representing 10000 have also
been made Sheet and tin plate mills have sold
their possible production six months ahead The
decline in stocks has not nterfered with the
steel business in the least. and orders continue In
excess OF production II is believed that the year
1907 will eclipse 1906 in steel production as well as
in earnings.
MARKET GOssIP-Mr. Keene. II was said YES
terday. was a heavy seller OF American stocks in
the London market. and in certain quarters where
information Is good IL was reported that this oper-
ator had not changed hts position on the market
despite the cessation or heavy liquidation and the
more cheerful sentiment that "a noted in many
speculative quarters. There IS such a thing as
overstaying the market. and OF the oldtinlers
IN the Street appear TO he growing reckless with
their growing years. Foolish old bears NAV vet be-
sleeping in the lambs beds II they don't look sharp
THE 500 EARNINGS.-The slight falling OF
in the earnings OF the Minneapolis St Paul &
sault Ste. Marie company for the month Of De-
cemher is not considered Of any significance by the
officers of the road beyond rejecting the adverse
weather conditions in the Northwest. which have
made necessary increased operating expenses
Actual gross earnings increased. while the decline
in net compared with increase IN net in the
same month year ago OF IS per cent and . per
in 1904.
WALL STREET FIRM GETS COPPER FX-
PERT.-Simon j. Beahan. who is an authority on
copper mining matters. and who has been identified
with mining interests in Michigan. has associated
himself with the New York Office of Hayden Stone
6 Co. No 25 Broad street. Mr. Reahan VIII AZ in
tervalS visit the copper mining camps OF the coun-
try. continuing his personal inspection Of these
properties and supplying the data obtained at first
hand to the house with which he is now CON
nected.
CROSS CUT IN RATOPII.As NINE STRIKES
SILVER.-Advces from Alexander r. Shepberd
jr.. superintendent at the mines Of the Batopilas
Mining Company. place the yield for the week
ended Saturday at q 900 ounces. Mr.. Shepherd also
announces that the cross-cut driven TO the west
from the 4O0foot level Of tho San Antonio vein has
cut the Cancio vein in silver.
PIG IRON CERTIFTCATES-Ptg iron certificates
at the New York Produce Exchange were dull and
ard foundry follow: February. $3.50 bid March.
&2lfS3; April q. S21 5OGS22 GO: May S2lG$22. June
July and October $22 asked
ADVANCE IN COPPER-Iake copper advanced
&c in the bid prize. 25R25A EIectrolytic ad
vanced sac IN both bid and asked at 24s G25c Cast
ing unchanged at 2f+4924Ac.
COTTON EXCHANGE HOILDAY-The Cotton
Exchange has voted in favor of suspending bust
ness on February q. following washlngton's Birth
day