New-York tribune., 1907-05-19
Topics OF THE STREET.

i'm
o.o. l%s WAS closed. Money conditions ABROAD We're
c'ee .,a there was some talk in foreign
on,-- oI1 ,rcles over the possibility of gold ship
-s fror, New York. AS money is higher In Lon
." .b.n Il Is in New York. gold exports would
~ - surnrising but exchange VIII nave 10 ao-
.,onc4 several points before the iie'A 'd4i De CA
ported al profit ST. ,,-,l, street l,o,,eo,
- tho stock market will continue trad
-, oo,ir for some time 10 come aS may "e seen
IN the following opinions .,,,..h r,,,, ,.,oo+
r,,arslar Brothers Co say: IN 'I'S "'ei'
80 :, and with the speculation IN gram on the
- extending into oats. the immedlate out
bun sloe -. - somewhat discouraging to the
bulls" o,. ..-na tendency NJ tha
Ai.'.u ars 70 be a sagging one. and We be-
,.1a maj the duness will eventually be broken
- th. development Of more acute weakness par
- ,, in the industrial group. in view of the
- .,on in business which is undoubtedly under
way" ...r, - -. -,
,.r.gular, with sentiment for the immediate
80 dominated by crop reports We still fail to
- onvihing in conditions TO make us look for any
orr,onent Improvement, and believe in sales on
rallies
,r q b.u market has not been made, and sales
,rirq TO repurchases later are in ORDER
n CHAPMAN & Co. say; I'VE fail to see any
.,r4,r mower other than short covering and still
believe that stocks are a sale on such strength"
miller Co. say: we believe the wise policy
wifi rroye 10 be sale of securities all hard spots
charles G. Gates & Co. say: Crop damage re-
,orts were no more numerous than in the past. but
there is a strong clique in New York bulling
wheat and this, more than damage. is responsible
for the advance in This cereal Trade in stocks
was very quiet. We should say that any fur
tber decline stocks should be bought
q 70 rIya fe
tessionaI in character and narrow that attempts
% anayze IL useless. We expect irregularity,
but We do not look for any important declines"
Carpenter Baggot & Co say: The whole situa-
.on al present indicates a traders market while
waiting for crop developments. The market ex-
h,hits strong undertone and stocks generally are
8. n level where they appear safe an investment
hasis For the time being conditions favor buying
m declines and taking profits on reasonable raj
lies"
Grannis & Lawrence say: We haven't said
much about crops and poiitics-because the truth
On these subjects has all been said-and more,
We see no reason for alarm in either direction II
We have half two-thrds crops the railroads will
have enough 10 carry next year. and, poor crops
are expected in Europe and the prices of grain will
be high, farmers will probably receive as much
money usual"
STOCK EXCHANGE RULING ON HARTMAN
sEcURITIEs.-The Stock Exchange committee on
securities rules that all certificates of Union Pa
chc Railroad Company common and preferred
stock delivered on regular way and time trans
actions in said conpanys stocks made on May 29
,s7 and all transactions thereafter, and all
transactions made prior TO May o. 1907 and settled
thereafter. and all cash transactions made
May 2s 1907, and settled after said date must carry
due bills representing all the rights TO subscribe
which may accrue 10 stockholders by the action Of
the stockholders on June Is, 1907 The stocks will
not be quoted exrights until further notice Refer
ring 10 the circular letter of the Southern Pacific
Company. dated May 8. 1907, TO stockholders the
committee securities rules: That all transactions
In the common and preferred stocks of said COM
pany made on Friday, May "a. 1897 except for
cash" shall be "ex-rights' and that transactions
made for cash Saturday. May ., 1907, shall
be rights on" Certificates delivered after May g
1867, for all contracts made prior TO May "a. 1907,
for unsettled "cash" transactions of May a and o.
rust be received under Section 2, Article XXXII.
O. the constitution. Sales of rights made
and after yesterday. except transactions made
specifically for cash." must be settled on Friday.
June Z, 1907. Transactions in rights on and after
June T. 1907. must be for cash or regular way.
The right subscribe terminates On Saturday, June
E 1907
MOVEMENT OF COTTON-''The Financial
Chronicle says that the receipts Of cotton for the
week ended May II 56.6ls bales. against 6O776
bales in the preceding week, making the total re-
cpts since September l. 1905 s3s2 260 bales. against
T27O40s bales for the same period of 1866. show
ing an increase since September l. 1906. OF 2lllS52
bales Reports OF weather conditions from the
South indicate that rain has been quite general the
ast week and that In some sections the precipita-
ton has been in excess. There are also some com
plants of too low temperature. In Texas. how
ever the rainfall has been light as a rule, and
with a few days Of dry weather planting can be
Completed.
STANDARD TABLE OILCLOTH COMPANY
The shareholders Of the Standard Table Oilcloth
Company viii vote the question of reducing the
outstanding capital stock of s4.000.000 each of com
mon and per cent cumulative preferred TO 5000,
eeO each Of common and per cent cumulative pre-
fsrred May q. The basis of exchange is TO be
$50 Of new preferred and a like amount Of new
common for each 800 of present preferred stock
and g Of new preferred and a like amount OF new
common for each 800 of the present common stock.
This plan will provide for extinguishing accumu-
lation Of dividends on the preferred stock, which
now amounts TO l43k per cent.
DELAWARE & HUDSON COMPANY TO SELL.
BOMBS SOON.-The Delaware & Hudson Company
|. preparing 10 sell in the near future the $1,000
ep equipment trust bonds authorized by the board
o. managers few days ago. Although it was
Nunated when official announcement of the au-
thorization made that the bonds might not
De disposed Of for time, it learned yes
peloay that negotiations are pending for the sale
oi the issue 10 syndicate. 50 far, however, def
hite arrangements have not been completed.
LAKE SUPERIOR CORPORATION.-The Lake
superior Corporation fiscal year does not end until
June 80 and the period for payment of a dividend
Oh The per cent income bonds is four and a half
months away, October /. Statements at this
he relative 10 the question Of another dividend on
'He incomes are mere speculation. The company s
understood 10 be making a large output of rails
ana favorable earnings
EEARoIINA & TENNESSEE MORTGAGE-The
Carolina Tennessee Southern Railway Company
controlled by the Southern Railway Company has
haae mortgage 10 the Standard Trust Company
-oi Sew York. trustee. to secure an issue OF
s<r1'yE nrsf OIL gag 4 IL