New-York tribune., 1907-06-08
TOPICS OF THE STREET.


ations were not important factors in the general
dealings. In London British consols were at a new
low record on the current movement. while the
general market was heavy. The Rio Tinto shares
weak. due in great part 20 selling for Paris
account. Money in good demand in London.
and cable dispatches reported that rates would
continue firm the fortnightly settlement
which begins next week There has been no an
preciable recovery in Paris exchange on London
and the Paris demand for gold shows no indication
of easing of.
MARKET GOsSIP.-According 70 the aivtces
put forth by commission houses the Improvements
in yesterdays market not due to buying for
outside account. The rally was based on opera
tions by the professional element in the greater
number of stocks. though in few issues pur-
chases were made developments affecting tha
properties represented. notably the case of Della
& Hudson. for which there active de-
mand based on the general belief that the property
eventually VIII pass TO the control Of the New
York Central There is any amount OF bear talk
among the operators who make their headquarters
in uptown offices, while there also is noted bear
sentiment In New street circles The advocates
of lower prices assert that forced liquidation is
not yet over. but OF the most experienced
traders In the Street says he detects signs OF
cessation of the rich mans liquidation. which has
been important factor in the decline OF the last
few months The heavy buying Of United States
Steel common yesterday by j. r. Williston & Co.
was an effective influence I'm advancing the price
Of that issue. Specialists say that good deal Of
the buying in this stock comes from houses
which recently have been borrowers Of the Issue
in the loan crowd Brokers who keep close tab
on market movements state that large amount
OF United States Steel preferred has gone into in
vestors' boxes in the last few months. and they
lso report an inquiry for American Sugar Rein
ing which is considered Of the best OF the
industrial issues This stock has splendid record
dividend payer and its decline in the last six
months. as compared with other issues. has been
Insignificant.
BANKS LOSE MONEY.-The reported move
nents of currency this week indicate loss IN
cash held by the banks OF s4.471500. all OF which
went to the Sub-Treasury, principally for gold
export. There n small gain the direct IN
terror movement Of s375ooO. The banks received
from the interior SsS19SO and sent to the interior
S. 44iSO0 including $4,000 transferred through the
Sub Treasury 10 San Francisco and sl.S7S.O00
tonaI bank notes sent TO Washington for redemp-
ton. The loss to the interior S2+,500 Re-
ceipts of new gold were sl064, 400 Gold exports
were S3.534210 TO Paris Ordinary disbursements
by the Sub-Treasury were s9,54S,61o- Payments
by banks to the Sub-Treasury for customs. in
ternal revenue ; per cent redemption fund. etc.
were 81. .423 500 The loss Sub-Trea sury opera
tions proper was sl,s77,aO0 The total loss 10 ths
interior S1245o0; by gold exports s35S42oo. and to
the Sub-Treasury. S1,s772OO. was S55359oo Deduct
Ing the gain by gold. s1,oS4H0 the net loss
was ST. 471500.
PACIFIC COASTS NET ExPANDING-Ths
April report OF the Pacific Coast Company presents
net earnings gratifying TO the stockholders. From
the beginning of the fiscal year operating expenses
have been charged heavily with cost OF improve
rnents and other special expenses that. although
there has been substantial expansion in gross the
amount of net profits has but little larger than
in the corresponding period year ago April 5 re-
turns. however, bring the company now we'll ahead
OF the preceding year. The gross earnings for
April increased 3175 per cent over April. 1895; op-
Grating expenses were increased 5LI per cent, and
the gain in net reached the handsome figures OF
$3.50 per cent. The city OF Seattle has benefited
considerably by the setback given 20 san Francisco
nv the earthquake or April IS 1906 but the city has
also been steadily growing from natural causes IN
line with the great development taking place every
where throughout the Pacific Northwest. The tut
ure OF the Pacific Coast Company, together with
all sound enterprises on the Pacific Coast, Is be-
leved 20 be assured by certainty Of growth OF
American trade with the Far East.
BALTIMORE & OHIO.-The complete income
account OF the Baltimore & Ohio for nine months
of the fiscal year shows that the company viii
earn approximately 1oIs PEI cent on the common
stock for the twelve months Net earnings prob
ably will he about the same as last year. Tee
Baltimore & Ohio IS extremely strong in cash re-
sources having S25O9OoO in the hands OF the treas
urer and other cash assets amounting 20 nearly
S36o10ooe. against which liabilities aggrs-
gate only about $1Ioo0,eN This gives the road
working balance Of approximately S3Ooooc0N
GRAIN EXPORTS FOR THE WEEK--'Brad-
streets reports for the exports Of grain for the
week. both coasts, Win comparisons, NSCreS II
bushels, follows. Wheat, -four included, 5,2631S.
against 2.411Sa4 last week. 3.301o07 in this week
last year 1i76si1 in 1895 and 4600o55 IN 1892; for
the fiscal year 10 date I50944. .SeS compared with
I2S S9 3 in Ia50S s00l22O II 1sOi05 and aS9 2SS445
in 1Sol-O2. Corn, LIS5O65 contrasted with S64.25S
last week 575. lS9 in this week a year ago and
lies in 1895 For the fiscal year date 6s7+S06,
against lOS506S+0 in 1st5o5 and 15.sS72n in lo4-5
CONSOLIDATED COPPER.-The local metal ex-
change quotes lake copper of 1.c in the asking
price AZ 24I2p2c eectroIytlc on &c in the bid and
asked 22aaG231ac, and casting of i4c in the bid
2I2sI22i.c. These prices wholly nominal and
do not represent actual business
800" EARNINGS lNCREASE.-Earnings OF
the Minneapolis St Paul & Sault Ste. Marie for
the fourth week in May show an increase ot
S1LS3l making for the month gain Of SS15l2-
From July !. earnings have increased SlOsI.455.
DIVIDENDS observation-disclosures have been
declared as follows: Swift & Co. regular
quarterly "a per cent, payable July !, Waterbury
Company. of New Jersey. regular quarterly
per cent the preferred and p. per cent on the
common, payable July !; also Waterbury CON-
pany. of West Virginia. regular per cent. pay
able July l.
LINCOLN TRUST STOCK-It was reported yes
terday in Wall Street circles that 140o0 shares OF
the Lincoln Trust Company had changed hands
within the last few days. 1t was said that this
operation was in connection with the reported
merger Cf the Lincoln Trust Company with the
Carnegie Trust Company.
READING OBSERVATION-DISCLOSURES to seni-ofl-
cial authority the Reading directors az their
meeting June 10. will put the common stock
dividend OF 2i2 cent. which will be an increase
of L per
GARY TO GO ABROAD-E. H Gary. chairman
of the United states Steel Corporations board ot
directors. viii sail for Europe early in July
RIGHTS ADMITTED TO oCOTATION-Ths