New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-04-30
TOPICS OF THE STREET.

ISVoV shareS IN the local market all purchases rs
trading was chiefly in the Hartman issues Tr,s+.s
States Steel and Missouri. Kansas & Texas -
ferred. In London eOnsOls were heavy ana a.
general market dull. Rio Tintos being an exean,-
Money was easy and Paris had 10 difficulty h -
curing some OF the gold that was offered n, ~
open market The Bank Of England took spass
and the Bank Of France $4,000. Money! a. 49,
various foreign centres was relatively easy
MARKET GOSSIP.-SOmething Is golnr a, d
Union Pacific. the Street believes because ~ 49,
activity of the stock in generally dun rnar.s<
There will be number Of developments in Tr,o~
Pacific affairs before the end OF the year SON.
OF which will depend for success upon the -
dition Of the money market and the publIe,z ,,T1.
ingness to take new securities, One OF the -
ing commission houses. with a large Pbis5.r-S.
following. says that it no reason IN ebs,-
its position favoring the bull side OF the roo-1s
despite uncertainty over the crop outlook The 49,
senee OF real liquidation encourages thu beIfas
that reactions cannot run far. while the deveIor-
ment OF extreme dulness on the declines slgeezta
there are weak public accounts. Good br,,,D
Is reported In Canadian Pacific. and the iusiders
appear quite confident that its price viii move nm
just as soon as the general list gets out Of m.
present Fut, while the same thing is believed Of
St. Paul and the steel stocks There has bean .
big absorption of steel preferred in the last SIX
weeks for investment account and some buvfnq 90
the common on the theory that the dividend nav
be increased to-day. Some Of the heaviest buver.
OF Union Pacific We're II. Content Miller & Co
Wrenn Brothers. Malcolm & Coonbe Wilmerdinq
Morgan q Co. O'DeH & Co.. and Dominick & DOM
mick. Among the sellers were AseI & Co. Morrison
Brothers. NJ. Dannenberg Bryan & Walker.
winston q Co.. G. c. HOLSTER Co and Bon.
bright & Co. While the London market was mar.
row. the response TO bull points sent over from,
this side at the opening was not bad 1t is prob
able that the London Stock Exchange holiday on
Wednesday tends to narrow the trading in London
and possibly also in American stocks in Arnssar-
dam The foreign houses not hopeful Of any
initiative by their customers abroad, but believe
that Europe would follow real movement started
here. II. Content. who bought Union Pacific an
day. was mainly responsible for the afternoon adj
vance in the stock.
MOVEMENT OF NIONEY-Tha local hanks NJ,
Saturday lost on Sub-Treasury operations 81 9eOO
and since Friday have lost $4,000 The Sub
Treasury was creditor at the Clearing HOUSE
yesterday for $A5.s50 The losses by the banks ara
due 70 the falling off. usual toward the end OF
each month. and also in the first week in pension
and other government disbursements. on wednes-
day the Sub-Treasury Will distribute here about
H5000 in United States government inter
est. In the time money market yesterday IL waa
reported difficult 10 give Intelligent quotations
The demand was so small that it was necessary
20 make concessions IN order place funds This
condition is directly due to the limited volume ~
dealings IN the securities markets According to
the pest authority. while the sentiment is hopeful
the Investment bond market lacks a definite tone
ms Is due 10 the uncertainty regarding the croD
SITUATION the monetary outlook possibility Of hos
'lie I'ElsIaJon and uncertainty 70 impending
new issues. Should the stock market devotion more
actively the money market would undoubtedlv
change ito appearance at once
MANHATTAN TRANSIT.-It is expected thar n
Ia'ora0i7 decision will be handed down to-day IN
the Inandamus proceedings recently brought bv
the Longaere Light and Power Company 10 use
the conduits in the subway for the transmission
OK us power This company is controlled bv rba
Mammalian Transit Company, and the stock of the
I"l'er was bought on the curb yesterday By inter-
ests identified with the concern. There has bAa,
going on for several weeks an accumulation OF rbs
stock and materially higher prices are predicted.
II closed yesterday at 6a61i against 5s.q5a sat,r-
day. total dealings for the Gav amounting IN "a zD1
shares. The Manhattan Transit Conlu7rv was tr-
corporated IN 1852 as successor TO the General car
rage company. and under its franchise il claims
a monopoly OF passenger traffic other than on
street railroads, and equal rights with the Firth
Avenue Omnibus Company in rita avenue On
the streets OF the entire ci-y TIp co-,narv
controls the New York & Brooklyn Railway COM
pany. which has a franchise 20 build a s,bvvav
from the postoffce in Nomination TO any point IN
Bro0kIyu -
LARGE DEPOSITS or CHICAGO TRACTION
SIo'kS-It IS learned thar the amount If stool,
OF the Chicago Union Traction C5ueauv thar Is
''i"S uepvsl'ed with me Central Trust Company of
( !n z On
iAittee or representative interests Of which J. y
Wallace. president OF the trust company is chair
man. is satisfactory 70 those in control OF the trac-
tion company The gratifying feature Of The de-
posts : that % considerable extent they repre-
sent small holdings
GOVERNMENT BOND 0PrP sTTONS -7v,a 4
per cent bonds of 1876 outstanding on December =
1870 We're N15.555-e, purchased under circulars OF
December ~ and February H. S-2}ETo redeemed
under circular % March Il previously reportedJ.
SIS ZS9.2 O. redeemed saturday. $3.50: total r.
deemed SS215,-5o, TOTAL purchased and redeemed.
IS 55StJ1. outstanding saturday. S32o2 40; refund
ing under circular q April % 1907 previously re-
ported $3q5S5 80, bank cases refunded Saturday.
SlO so: individual cases refundins saturday S0[5O;
total refunded saturday. &ot55g. total refunded,
$39 9f7.SN
DETROIT RIVER TUNNEL. COMPANY GIVES
So 0I0OJ0 MORTGAGE.-To carry on the construc-
tiou Of the MchiSan Central Railroad tunnel Un-
der the Detroit River the Detroit River Tunnel
Company has given a blanket mortgage on its
property for S50o0o10 20 the Guaranty Trust COM
pany OF New York ANY number of bonds may
be issued under the mortgage UP 70 the limit The
mortgage was authorized lev the directors Of the
tunnel company at a meeting i'm New York on May
IS 1876 and was hIed yesterday The Detroit River
Tunnel Company is consolidation ~ the MicAl-
gan and Canada Bridge and TGnneI Company ana
the Canada and Michigan Bridse and Tunnel COM
pany formed construct tunnel IS miles long
from Windsor Ont. 10 Detroit. in the interest OF
the Michigan Central and Canada Southern Rail-
road companies.
CORN PRODUCTS Auditors are Stiu az worR
ON the books OF the Corn Products Refining COM
pany and II Is possible that the annual sta'en'en'
will be ready for publication within vie next ie"
weeks The auditors investigation Will cover
period OF five years which accounts for the ueI1y-
Plans for the new factory Of the corn FrouucoS
Refining Company. which is % be bul-t near O''I
cago are nearing completion The plant VIII cOs-
several million dollars. The business OF the Coi"
1,,,. ,,,r,por,,- since rhe first of year COM