New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-07-21
TOPICS OF THE STREET.

FOREIGN TRADING-Foreign houses were not
active factors IN the local market dealing IN only
a few thousand shares. equally divided between
sales and purchases. In London the general mar
het firm, with especial strength in the Rio
Unto snSres money was II ialr demand a TO
British capital. but there was no chanse n rates
A large amount Of gold Will he available IN the
open market tomorrow. and the chances ara thar
tn Bank OF England Will secure the entire amount
London IS looking forward 70 a heavy de-
mand for gold IN August from Egypt Ire Egyp-
tian cotton crop promises 10 be a large one and
its financing win require heavy shipments Of the
precious metal from London and Paris Bankers
in New York fear the Egyptian demand may make
necessary further exports OF gold from this coun-
MARKET OPINIONS Opinions on the market
BY leading Wall Street houses follow:
Grannis & Lawrence say The stock market has
been without startling features bur the news nas
been generally favorable and the course OF prices
has also been encouraging. People Who haze been
waiting for lower prices before buying have con-
tinually decreasing ground On which To- base their
expectations"
E. r. Chapman < co. say: Sentiment IS bccOna-
ing moro bu!lish. and those VINO have been watt
ing for reaction Of any size are beginning 10 de-
spa!T Of its arrival"
Marshall. spader * Co say: we regard tns
character OF the support OF the market and ths
properties selected for an advance a. being vast
Improvement and calculated 10 encourage further
support from the pablo. 1t begins 20 look Ike con-
fdence OF the right sort was being slowly REIN
stated"
GENERAL ELECTRIC BOND ISSUE-Stock-
holders rights 10 subscribe % the new issue OK
100000 ten-year per cent debentUre convertible
bonds OF tho General Electric Company expired 80
tho close OF business yesterday. While official
announcement made to the amount which
had been taken. it was understood thai the sub
scription proved entirely successful Most OF me
stockholders have awaited themselves OF the privi-
lege OF taking the issue par, and there Is every
indication that the whole amount Will be disposed
OF The bonds are conVertloIe after June l. ISL
into stock of the Ompany at par. and TedsenaoIs
after that date at los. subject. however. 10 the
. stockholders right OF conversion.
n F~fx
in coffee Is due 10 crop conditions of the yield
in Brazil and 10 further Strengthening Of the
position OF Brazilian holdings the latter probably
meaning that nnanclai arrangements nave 'evh
. perfected for the permanent care OF the with
drawals a loan BY the RothSchiidS as part OF the
perfection Of these financial plans has for soms
time been anticipated. and the accomplishment OK
It naturally would have bracins effect upon me
market No definite figures Of the amount or no
loan required Yet have been announced any
such loan may be based upon the suppIem antary
needs OF the project OF vaIOTization. or may take
the wider form OF rehndncing the whole amount
The extent OF this financial requirement viii u
pend much how the new crop promises Estt-
mates for Sac PaUlo have varied from 3.teeto 70
S.0O0.000 bags.
AMERICAN RAILWAYS rs INVE;SrME,\IS.-
The Moody Corporation. which publishes Nl'1uy
Manual has Just brought out "Amerlc4u f'"II-
ways as Investments" by Carl SNYDER rms $50
lis designed equally for the use or the INV es' $500
buyers and the bankers and brokers VINO srINs
| them There is elaborate introduction, NS
In the simplest and clearest manner Win ''o ~ -
Il
the book is devoted to separate analyses OF tue IN
portant railway companies, including ~ PS. -
OF the total trackage OF the United states anu
| ada. The chapters on each ralirNAu - ,-s-
same general scheme OF analysis, 50 that co'"i
sons can be made quickly and accurately
| THE MOVEMENT OF COTTON.-'The Flnahci1i
Chronicle reports the total port receipts OF CoS
for the week ended July 10. at 10SSS oaIes aeA
! 1877 bales for the preceding Week. ittAlts -
total receipts since September l. 1906 Sos'lso -
against 1656.35S bales for the same period o. :,
! 90 showing an increase since September l. isoo -
1850 Si5 bales. Weather reports by telegraph 49,
| the South OF a satisfactory tenor The Nea''
has been quite favorable in the week as a rute .
though In some districts II Is asserted that m0ls'U
would be beneficial The crop is reported 10 ~
/ doing we'll ON the whole.
| PULLMAN DIVIDEND.-The Pullman Cempaas
has declared the regular quarterly dividend OF =
| share payable August Is. TO holders or re0u
July 81
| BANK CI4EARINGS.-The total bank clearlnss
| the United States for the week ended July ~ III
day estimatetD Were SIS t22 49, against SS-S+is
| 719 in the preceding week and s. 666.O80 4o ioF TN
corresponding week OF 1896.
MULTIPHONE OPERATING REGl LAR p .Sa
DEND.- Directors of the MultiphOne OpeIS -
Company have declared the regular monthly ~ :,
| dend OF per cent, payable August l. 70 S'OeN y
record June 80
| APPLICATION TO IIST-ApplicatiOn has oS ~
S2.St5 900 twentyyear per cent sinking fund 80
due 1921. of the Corn Products Refining Compass