New-York tribune., 1907-09-29
TOPICS OF THE STREET.

FOREIGN TRADING-Foreign houses sod
10000 shares in the local market In London the
general market was heavy. with especial weakness
in the copper shares and Canadian Pacific Money
in active demand at The British capital at 3ia
O. : per cent. The Bank of England lost e100000
on Withdrawals for Egypt. Tomorrow there viii
he avs.flail- -he oCsr market E200o 600 %
which II teis~ed the E;tUk Of England viii
secure one-haIf and the Continent and India ths
balance
MARKET OPERATIONS-M Market views Of some
Of the leading Wall Street houses follow
Henry CleVvs & Co say: There is little ques-
ton about the continued material prosperity
majority Americas leading business concerns.
There is equally HttIe doubt about the ability with
which these are and have been managed The
chief doubt has been 70 the integrity OF the
mana cement. and. with an Improvement IN the
latter respect il is quite certain that American
securities abroad Ill soon recover a SUBSTANTIAL
portion of the prestige and value Wnlcn nave re-
Gently been lost. \ notable instance Of this was
the free foreign buying Of the recent issue Of New
York City bonds on London account. showing that
there is stLI abundance Of foreign capital
awaiting investment this side OF the Atlantic
v-ber rI- cF,rac+r- Of rha sacrf-y- Offered i be-
yond question There is doubt thar me next
few years at least American corporations will be
conducted a distinctly higher moral plane. and
this Of Itself VIII do much to restore confidence
II IS Of course, deeply % be regretted that the re-
cent disclosures connected with the New York
traction stocks shol;d be made at this time but
as these transactions apply 70 the past and aT5
really ancient history there is no reason why they
should cause lasting disturbing effect one
thing IS certain that II would be difficult 10 repeat
these methods this time. and OF or lead
ing fnanciers would today be likely y sanction
them
Marshall Spader & Co. say: 1t does rot appsa-
possible al this jInctIre 70 consistently forecast
favorable market conditions next week We appear
10 be entering period Of more active demand tor
money from the interior. although an enlarged ex-
port movement of the grain AID cotton crops IS u
progress which Will make supplies Of sterling tex-
change plentiful II is not however. N this direc-
uon that the average operator y looking. ouL
rather more at the sestiTse influences OF th'
possible utJerances OF the rsss.lent next week on
the subject of the gOveronenf~ JatioHs with cor
pOratIOuS. and II may De said II lS not So Uuch NO
proposed or actual enfOrceHsRt Cs laws by the IA
tiOnaI government which is feared but rather moro
the continued agitation of the question Inss
which easily stir Up more general fnlrlosl'y
from other directions against all corporations en-
gagged in promoting our greatest economic n
tereSts-"
Carpenter. Baggot & Co say. The steel stua-
tion IS gradually developing ard showing the trus
trend of its business, falling away Of r-w orders.
An adjustment of the rail situation would help mat
some. but structural steel Will FOR many cay
show falling OF
II. L Horton X 20 say: 1T is possible tne
shorts will have their way Of doing thlnss IoT :
brief period but they are only layinS the louA'.5
ton for a better market 10 follow. the denanu'
when it develops. will, We think. bring apou' %
change of sentiment
Miller & Co say: We should say. unless there
IS something bad veIhansiuS the market. or WhcI
the general public Is not aware, that the bears d-
overriding things. and that on any further snN'
break the market ought 70 be purchase
T. A Mcintyre & GO. say: There Is nothing
better in sight than the continuation of dun a.
saggiuE conditions in the general stock H1IAet-
This is 4 view have held for some tlme OF az
owing 10 advices received in regard 10 the splea1
of the reactionary tendency in various AiieS -
business and the continued scarcity and strlnseI~t
in money market conditions throughout the cou-
try. and the strainins OF credits generally rom -
much extension of liabilities the last year
Prince & Whitley saw: As II dOcs not LOOK -
US as if il had any way near reached the turnins'
see hurry buy stocks. especially mus
trials. except perhaps a quick turn. due 70 -
Oversold condition. on rallies, stiI oellSV- "a
sales
KNICKERBOCKER ICE REGULAR PRE-
FERRED DIVIDENp.-D Directors of the knlcAet
booker Ice Company have declared the resuA.l
ferred stock payable October p This dividend .
usually due IN July
DEPOSITS MOST NEEDED IN THE SOt TIT
deposits in national banks under -
retary CortelyOu's PLAN announced in New i0s 0,
late in August. have been increased by SI'-ee-ss4
or SIS 0C0. Where the money has been pLaee
is not made public. but the presumption Is 10. n-
much If IL has been sent Go The Mississippi Na.
and the South. These sections. however. are ~.
Vet fully supplied with crop moving funus. .- =
evidenced by the fact that within the last w. ~
more than St,oo0AO0 mas been sent 70 these -.
tions from New York through Treasury chlhr :,
alone, and the amount by express IS thouSI-s I,
have been considerably This ScarcleS -
funds in those sections Will doubtless aPpeai ~
Cortelyou in further distriDutlVn
money, which he is understood 10 have said w. Wo
he made in sufficient volume to afford al re's
able relief in moving the crops. =,
MOVEMENT OF COTTON.-''The Findnes.- -
Chronicle gives the port receipts OF cottn.,.x cotton
the week ended September p at 22liL Sf-s
againSI l52.S6S bales in the preceding weeh
the total receipts since September ], 1907 9-,s,A
bales against s745s6 bales for the same Pc
OF 1906, showing decrease since SepteinN~