New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-03-30
TOPICS OF THE STREET.

FOREIGN TRADING-Foreign houses were uot
factors In the local market. owing to the holiday
abroad. There were. however. buying operations
by London IN Canadian Pacific. which was the
strongest feature OF the local market
MARKET GOssIP.-Ths interests who took
hold OF Canadian Pacific two years ago, when its
price was ruling around rs sold out a large part
OF their stock when It was in the neighborhood oe
800 last August. The advance yesterday wan duo
20 what Is known as the squeezing process applied
TO some spectators who were short OF the stock
and who have been announcing various kinds OF
punishment for any one caught long. incidentally
the so-called Jefferson NJ. Levy element The lat
ter sold IT'S speculative lines at about 90 and II "a
not unlikely Il accumulated enough stock on ths
recent break to cause yesterdays trouble among
the shorts. While it IS conceded that the Erie com
pany would not be able to sell notes at present Il IA
known that the road will be supplied with all the
funds it needs TO carry it until conditions are
more favorable, and IL IS upon this knoWedgs that
certain interests absorbing the Erie stocks Some
people believe that the bear drive at Erie early IN
the week marked the end OF the bear campaign.
but yesterdays upward movement was considered
altogether too rapid 20 last especially in view OF the
Southern Pacific suit which injscts a new factor
into the situation Il is believed in many quarters
that it IS a matter OF only time when Union
Pacific will have to give up its control OF Southern
Pacific. and the suit TO enJOin the Southern Pacific
dividend and to restrain Union Pacific voting South
ern Pacific stock may hasten the breakup Many
days trading. and the buying though coming from
speculative houses was OF better class than noted
IN several days A new bull pool was reported IN
Brooklyn Rapid Transit. Good buying was reported
in the bond market. particularly in the United
States Steel sinking fund S. Brokers report that
there are whole lot OF new people IN the Street who
want 10 fortunes fast but they are chiefly OF
the limited margin class that never make money or
help bull markets Small margins in this market
won't carry away profits. though they will add
the amount OF money n circulation in the Street
HEAVY GAIN IN CASH-Ths reported movs-
ments OF currency this week indicate gain IN tho
HTnOune OF cash held by the banks OF S1s.OT1 500.
They received from the interior S52Os1O0 and sent
To the interior S4,ss2,s0O Receipts OF new gold
were Sl,4S4.00O and the gain on Sub Treasury
operations was $1O.S114O0 Both receipts from tbs
interior and shipments 20 the interior were smaller
than in the preceding week. the greater part OF
the movement Being with nearby cities. The large
gain from the Sub Treasury was due to the IN
crease in deposits OF customs receipts under tho
recent order Of the Secretary OF the Treasury That
the scarcity Of currency recently complained Of 10
being relieved is reflected in the shipment to Wash
ington for redemption Of S5.744.O0O nlutiIatsd
money.
DIVIDENDS Observation-Disclosures lave been
declared as follows; Toledo Railways and Light
Company regular semi-annual 1 per cent. payable
Nay l. Northern Pacific regular quarterly u. per
cent. payable May 1. Streets Stable Car Company
regular quarterly so cents. payable April IS Ma
~%S-~~A
payable April l. United States Glass Company
regular quarterly per cent
GRAIN EXPORTS FOR THE WEEK.-"Braf-
streets reports the exports OF grain for the week.
with comparisons figures IN bushels. follows;
Wheat. -four included. 2.7O7.56S. compared with
1SIS614 last week. 1,542s52 In this week last yea
SSS69O IN 1905 and 29041 no in 1902: FOR the nseI
year 90 date l1O59lO45 against l02yoe.aao u 4to.-
90 4tb32,S09 In 19Oi-06 and 195.662253 N 1sO1~C4
Corn lSi4.6S3, cOntrasted with 2.5Os.5S6 last week
S,04S.4t9 n this week q year ago and @4Su,ooz y.
1sO1 Tor the nscal year to date 5l.666S9n. asalsl
S4,SSSI9O In 1905-'O6 and So. 1895 in 1902
SOUTHERN FAILVVAY.-Tn order 20 expedite
SfanSler or stock the southern Railway Company y
preferred stock transfer books and the TRANSFER
DOORS or the voting trustees for preferred STOCK
trust certificates OF the Southern Railway COM
pany, which viii be closed March 50. plepGler
tory 90 payment OF dividend on April g, viii reopen
READINGS NET EARNINGS DECREASE-ln
t tne month or February the net earnings or the
Ste lseoeing system were Sl.Ii6Sl2, compared WIZ
Sld6l,tls IN the same month last and tor tls
elsnI months ended February % they were S-.-
oozos decrease OF S9i9,l54 from the correspondents
PERIOD IN the preceding year. The SURPLUS a,tsF
ehaIses and taxes. Tor eight months. was s, tstoa
against S,6SSl6J On 1906
COPPER PE,ICES-The United Metals Selling
company quotes the price OF copper as unchanged
at zSss FOR lake and 81 for electroiyae-
NINETEENTH WARD BANl&.-A spsctt, meet
ms or the stockholders Of the Nineteenth Ward
Bank mas been called for April p % vote .9en /.
pfoposition 20 Increase the capital Lro.. kAo:eo
stockholders at $500 = s-.sA