New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-04-03
TOPICS or THE STREET.

VAS Canadian
,,trage houses was based on the fact that in the
-, Jew davs while the London Exchange has been
,osea rrices here have advanced IN average
- Doints The general market in London showed
an improving tendency. the weakness in American
ebares not influencing the rest OF the list. Buying
o-5ers from New York helped American stocks
s,fore the close. Money was in good demand in
he British capital
MARKET GOssIP.-Mr. Lawson's campaign in
,,,e oopoers was without favorable results yes
to-day. II IS not violating the confidence Of the
Street 10 say that the speculative community is
Inclined 70 he heaviest when the Boston operator
announces himself bun. but # is thought, how
ever. that Irrespective OF the position he takes
NJ present the future OF the copper shares incud-
ing the curb issues. IS bT ght owing 10 the sound
condition Of the trade ana the relatively low prices
AZ which the copper stocks are selling. Much talk
Was heard regarding the Atchison dividend. which
,,tll be declared to-day on the common, and the
movement OF the stock apparently foreshadowed
an increase to 4 s per cent basis Notwithstanding
the fact that the company will be in the market
for more funds for Improvement and extension pur-
noses when conditions are favorable for new
railroad financing. The bull campaign in Canadian
Pacific appears 10 be for the present, the in-
terests who turned the market the shorts to the
extent Of Sis points being satisfied with their sue
cess though they predicting price above the
so mark recorded last year IN the course OF the
next twelve months basing this belief OF the
ecfua
troll Of stock available for speculative purposes
London sold the stock yesterday. taking advantage
If the advance recorded by the issue while the Lon
don market was closed Bulls on Brooklyn Rapid
Transit put the stock up the idea that the
chances for the passage OF the Public Utilities
measure were growing poor. but interests identified
with the company insisted that, irrespective OF the
Gate Of this bill. "B. r. T" Is good purchase on
ita merits though no time set for a dividend
There is no doubt that when the company's I'M
,rovemeut work is finished its earning capacity will
he enormous but il looks * il might be years
before this happy time for Brooklyn and b r. t.
stockholders comes. Stocks were not affected by
the Hartman letter and the Presidents reply.
Henry clews and other prominent brokers consider
fhe condition Of the market healthful than 1t
has been in a long time bat opinion is rs
unanimous on the idea that sustained advance
has set in There IS little support TO prices OUT
side that furnished by the short interest and
orders from prominent interests when bear OPP
orators become aggressive. ana big bull
,oent needs the backing OF something besides this.
II needs a public demand. and yet this has not
Developed. Foreign houses bought some stock back
before the close, arguing that London would be
likely TO open better. E view Of the failure Of this
market respond 10 any great extent 10 the sharp
decline there on reassembling after the holidays.
GOLD I1PoRTs.-Go;d to the amount of 81 go
pO was engaged IN London yesterday for shipment
20 this country by Lazard Freres. and one London
Dispatch said that OF the gold offered in the open
market at that centre, 100000. taken for New
York account. A result OF the engagement there
was a sharp advance in sterling exchange Ia the
local market sight drafts London rising 20 $50.
against ASH. Mondays close. Bankers were Of
the opinion that foreign Exchange az this point on
London would be frmer from now on, owing 10
the easier condition in the money market. the
prospects Of relatively cheap money until the fall
crop demand develops and 10 the increase in the
demand for remittance which has been noted in
ihe last week London bankers made effort
yesterday 10 prevent New York from getting gold
N the British market At the closing level OF
exchange market yesterday gold cannot DO
brought 10 this country at advantage 10 local
importers. ard It therefore Is improbable that the
engagement announced will be followed by a fur
Their inflow. unless monetary conditions should I'm
dergo unexpected change in the direction OF
higher quotations. The banks gained yesterday
Q their operations with the Sub-Treasury. and
showed an excess OF receipts since last Friday or
Ba2oM There easier tendency in call
and tine loans and greater willingness on the part
OF bankers 10 release i1nds. Customs deposits
yesterday were 90. while $4,000 paid out
n redemption OF government IS OF 1907.
AMERICAN WRITING PAPER DIVIDEND
HELD CP.-The American Writing Paper Com
pany preferred dividend Of one Per cent. which was
Declared last October 20 be paid Monday viii not
be paid for the present Suit has been brought by
tondholders TO restrain the payment and until
VIII not be sent out. Regarding the postponement
o the payment o. dividend the preferred stock
q the American Writing Paper Company the fol-
suing statement was made by officer OF the
company; The directors have declared the divi-
cnd payable April to holders Of record
March 10 There was no advertising Of the divi-
1nd IN any paper il was declared conditionally.
mere being some question 20 the legal author
~ OF the directors 10 declare It. That question
= sbout 10 be tried IN the New Jersey courts and
ne dividend viii not be paid until the question
q It's legality has been determined"
STRUCTURAL sTEEL4-It is estimated that the
various fabTicsting companies booked about be-
tween 19o and 5000 tons OF business in the month
Ct March. which figure is slightly below the ton
mage IN the corresponding month OF last year.
me American Bridge Company booked in the
neghborhood OF 40.0O0 tons as compared with about
@'o tons IN the corresponding month OF 1906. A
lafseF percentage Of the business went 10 the in
dependent companies in March OF this year than
= March o. last year which accounts for the less
favorable showing Of the Steel Corporations sub
taaFy Considerable structural work is pending
n the West
souTHERH RAILWAY EARNINCs-The oper-
Auons Of the Southern Railway Company for the
month OF February, 1907 reflect unusual conditions
'n5oagh Increased expenditures for the mainten-
s1ee OF equipment and for fuel and overtime due
" eongested conditions, which also temporarily
,naIeFed with the development Of new traffic
-aieh operations reflect similar conditions. The
congestion IL. however. being relieved. ana It is
.naalpafsd that beginning with April traffic VIII
move much more freely.
DhADENDS observation-disclosures have been
,-lec as follows: II. b. ciahin Company, regu-
- quarterly per cent the common, payable
- New York Produce Exchange Bank regu-
= ssini-annual per cent and extra dividend OF
p1 cent payable April i. Mount Morris Bank.
''sliaF semi-annual per cent payable May l.
AEPuBIIc IRON AND sTEEL.-Earnings CT
IT Republic Iron and Steel Company for the cur.
lfi fiscal year viii be. 81 Is estimated. in TIE