New-York tribune., 1907-06-02
TOPICS OF THE STREET.

active FACTORS in the local market, selling few
thousand shares on balance In London the gen
eraI market was quiet at unimportant price
changes. Consols shade frmer. London
closed the week with the lightest speculative ac-
count open ever known Immediately following a
settlement. Money was in some demand at the
British capital The Paris check on London was
at level that indicated the probability of a
French demand for the gold that will be offered
In the open market tomorrow.
MARKET OPINION.-Market views Of some Of
the leading commission houses follow:
a o, Brown & Co.-The traders market may
f6at f6era fey fey days ia longer but appears unlikely
Miller & cove still believe that advantage
ta snouid e be taken Of all rallies to sell with the ul
Ie IaaIe IDEA OF buying in at considerably lower
Grannls & Lawrence-AIany conditions now are
more clouds in the sky. But we think for Very
many stocks on the list the unfavorable possibi-
ties are more than counter-balanced by the actual
iingTeased i net earnings of the companies and the
Carpenter. Baggot & Cove hope the develop
ing point in the stock market, and We feel conf-
dent that the restoration Of confidence is accel-
T, A Mcintyre & Co.-The best that can be ex-
Irregular traders market for moderate turns from
me present level until the crop situation and out
Marshall. Spader g Co.-The market appeared to
Indianapolis speech, and opinion about equally
IIDiueu nv regarding its value as market influence,
inc consensus being that the lines of thought and
argument used should be considered favorable 10
flexible purposes in field Which at best is regarded
experimental offset in great degree the strength
OF % ms position on the fundamental questions un-
Charles G. Gates & Co-stocks ruled quiet with
out any special feature. Crop news was favorable,
except from the cotton belt; where there said
chase on all weak spots
Alfred Mestre & Cove do not believe that
dltons, as yet, Justify the expectation of
Reeirnanent Rei improvement in the stock market, and
mink that the general tendency is still a sagging
Prince & Whitely-We consider the Presidents
speech fair and square presentation of the rail-
way and industrial situation he views it, and
tend tend to reassure investors and capital generally:
this market
MARKET CONDITIONS REVIEWED.-FisS &
Robinson in their monthly bulletin say
From the standpoint of railroad securities, the
tone tone OF the market during the last month has been
ported by facts. Great stress continues to be laid
ernment toward the railroads. We have previously
pointed out that the adverse effect of this iOfu-
ter of congratuaton that this great and important
shipper and investor has for the first time been
made the subject of dispassionate investigation by
iines-lnes wen calculated to result ultimately in
great benefit to al Interests ana especially TO the
judicious local legislation. The railroads Of the
that Of difiiculty in dnancing This although in
convenient, is in no way vital. In this respect
in trade end commerce and Inanqfacture the world
gold by Italy. Argentina and Brazil to the extent
Of not less than 5o0o0ooo. in order that their
accumulation by Russia OF not less than $1Q0oooOoo
TO i1cTasG geT E%1 ana "a aISI m o5 6n y Tn
versal money strinEenCy. now happily abating. The
stead.i7 cointtnuedDboth at horne and abroad The
Improvement has been pronounced in the United
States and in Great Britain, and, although less
marked in Germany and France, better conditions
6o6 IL m ossieo news c6ncernng The crops The
shortage in wheat has been Translated into terms
oa 9gI Eor{ag 10 is not Known and even though it
ne considerable. LTDbdtuF
corn and other products will largely take the place
5 aT w6gf scem To fa To be an assarc So M as
era business IS concerned it may be that vel! de,
evidence thus far would indicate that such recess
sGns as are tan]F ] R5'f trd are continue and grow w
more pronounced, present indications give assur-
mTplgi ~ ,,a TTn,taa States have not fallen on
times which entirely evil. In the matter ot
financing. tho roads after all. have not Jared so
money since January /
MOVEMENT OF COTTON CROP-"The Finan-
cial Chronicle" reports tho total receipts Of cotton
for the week ending May 81 AZ 4L5l5 bales against
81 $50 bales in the preceding week making the total
receipts since September !. 1906. 94905H bales.
against 1855 bales for the period Of
1906 showing increase since September l. 1896.
of 2063 .5l8 bales Weather reports from tho South
indicate that rain has fallen in most sections dur
ing the week. and that in districts the precipita
ton has been rather heavy. There complaints
from some localities that the wet weather has in
tcrfered with work and is affecting the crop ad-
vcrsely.
GREENE COPPER-ApproXimatc S. per cent
OF the stock Of the Greene Consolidated Copper
Company and the Cananea- Central Copper Com
pany has been deposited under the terms of a cir
cular issued some time ago calling for deposits Of
Greene Consolidated and the Cananca- Central 10
be exchanged for stock in the Ciretne@Canauca
Copper Company. Time for depostiug these stocks
expired yesterday, and It IS expected that no fur
ther extension Of time Will be granted by the man
agcment of the companies.
Stockholders who have deposited their holdings
will receive temporary certificates Tomorrow.
READINGS SURPLUS.-With the 81 OZ2 900 addi-
ton to surplus earnings made in April Jho READ
ing properties will rot need to show any better
results for May and June than they did two years
ago in order to earn this year between lG and Il
thing put into the property by way Of the main
tenance accounts the uncertain but substantial
the earnings of tho common stock tine
basis Of computation were equivalent To about H5
per cent.
OFFER FOR INVESTORS.-F J. Iisman & Co.
Of New York Hartford. Philadelphia and Chicago
oner to investors at so 700 shares OF the Con
necucut railway q Lighting Company per cent
guaranteed common stock. The company is leased
guaranteed by the New York, New Haven & Hart
ford Railroad Company and there is cash fund
on deposit with the Colonial Trust Company sur
about 4 Ia per cent thereafter The bankers con
slider the stock exceedingly attractive on ~ per
cent basis and reasonably sure to sell at or above
obligation of the New Haven system.
ESTIMATE OF COTTON CONDITION.. A
Mcintyre & Co. in a forecast Of the condition OF
cotton, anticipating the governments first crop
port, estimate the condition at about bS per cent
This compares with $40 last year. 2 in 1865 SO in
1904 and 741 in 1903. which the lowest average
condition to June on record
TWIN CITY REGULAR PREFERRED DIVI-
pEND.-The Twin City Rapid Transit Company
has declared the regular quarterly dividend Of Ia
stockholders Of record Juno II.
TO TRANSFER CAST IRON PIPE STOCKS TO