New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-05-11
BONDS.
TOPICS OF THE STREET.

FOREIGN TRADING-Foreign houses dealt IN
1900 shares in the local market. representing IN
great part purchases OF Union and Southern Pa
cfc. In London consols were heavy and the mar
kst outside OF American issues. was inclined to
but were not materially advanced The price OF
bar gold declined. rejecting the cessation OF the
Paris demand for the metal On the Continental
exchanges duIness was the chief feature
MARKET GOSSIP-Wau Street insists that Il
got a lemon instead Of melon from Mr.. Harri-
man. but Union Pacific interests. and the latter
include able fnanciers. look with favor the
proposed financing and assert il will be big
cess. The common stock holders will have a good
thing out OF the deal. assuming the price OF the
stock advances. and perhaps the only really bear
feature OF the announcement is the reflection con-
tains Of the apparently endless programme for
capital requirements OF American railroads Later
however. the Street doubtless Will turn capital
expansion into bull argument. at the moment
IL sees everything through its blue glasses. and.
as a consequence, II Is anxious TO pound stocks
the slightest preteXt- The fact that stocks
well held and refuse TO out in volume
prevents the sort OF bear success that attended
the operators the short side earlier year.
and the best informed Street interests do look
for prOtracted period OF declining values. Dick
Brothers bought Atchison yesterday and l. & ;.
Wormser among the active buyers OF Union
Pacific. Hartman brokers supported the latter
stock In the morning Reading has been tipped
q up in the last few days. but 1t broke with
considerable force yesterday uncOnhrmsd re-
ports that the company would put out a bond
issue H g Friek. II was said. bought on tina
decline. which appeared TO he eugendered by the
New street crowd j. 4. WnlistOn & Co were
among the heavy sellers IN the afternoon decline
They put out substantial line OF Reading. and
also extended the campaign into Great Northern.
which had been rather neglected in the forenoon.
Traders thought this represented an operation on
the short side Canadian Pacific was inclined 10
sell of perhaps wheat prospects IN western
Canada but more probably the approach Of the
London settlement. when the stock Is very gener-
ally heavy Ii Is equally usual for 1t % recover
such declines soon as the trading for the ne"
account begins. which II does at midday, LONDON
time. Monday.
MOVEMENT OF URRENCY.-Accordins 10 ms
known movement of money this week the iocSi
banks have lost SlsS zoo In cash They received
from the Interior s. i.0t1 and sent 20 the in'erO'
s. $50 100 including 100000 transferred through t'
Sub-Treasury to San Francisco and S24+N" hS-
tional bank notes sent 10 Washington for redeh''
ton. The q the interior S6Sl.1N Inc re-
cepts OF gold were $50 100 The loss on suo-
Treasury operations proper was SS+1oe- ReceiP'
from interior slightly smaller than IN US
preceding week but direct shipments fell on vel.
much and had IL not been for the transfer .,
$4,000 gold San Francisco the banks woul'
have gained from the interior. There was con
siderable increase In receipts OF currency ifVi'
Southern points while the shipments to nearby anu
Eastern cities (BOstOn and Philadelphia "7i'
much smaller than In the preceding week
TREASURY BOND REDEMPTIONS AND fNHf
FUNDING.-The government statement OF the ~
funding and redemption OF per cent bonds OF Is'
shows: per bonds Of 1897 refunded unos1
circular OF April , 1896 previously reported S4tH
$50: bank cases refunded yesterday. $500: nu4
vidual cases refunded yesterday. S7S2o0; total le
funded yesterday. SOS 40; total refunded. sS"Ae'
per bonds purchased under circulars OF 10
cember 10 and February H. S. $3.50; redeemed ua
der circular March IL previously repoi'7'
t9. l75 760: redeemed yesterday $780, totAi
deemed. SO 225 100; total purchased and redee"
s24. iS2 zoo. Reorganization: per cent bonds o.
standing December l. 1905. Nl6.TbS5S0; retuh ,
$3.50 500: purchased and redeemed, 81 4O2' eV' 'O
sos. 40. $50; outstanding A7 2SS.3 $40
NEyADA-UTAH SPECIAL. MEErlNG-A Sp
cial meeting OF the stockholders OF the Nevaa
Utah Mines and Smelters Corporation Will De h'
a Portland. Ne, June 10 10 vote upon w.
sition TO increase the board OF directors -
seven to nine members and 10 suthorise -
changes In tho com2any's bylaws BOOKS ~,
May is and reopen June II. It is uncersto0o an
the president John Weir. who has oeen - -.
health for some time may sever his eonh'et
with the company In that event G. E. Lea.n :,
OF Hooley. Iearnard Co. Will prooaV"
elected president II Is said Just VINO '"o 49,,
directors will be cannot be ascertsined a al
time but II is understood that they will a0a s'S
10 the eompany's strength. ..
VOTING TRUST TO DISSOIsNE-NO''S1
given to the stockholders OF the Nashihs' ssr
way and Electric Company that the trust -
which the stock OF the company has hete'V
been held by John Crosby Brown. Luther No
Charles ID. Dickey. James Timpson ana oeo.e
Young voting trustees. Will expire on 49,
Holders of stock trust certificates for suoh -.
will receive the stock that date n t'e
of the Commercial Trust Company OF Ne" 49,