New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-04-06
TOPICS OF THE STREET.

stocks In tho local market sales amounting TO q7
shares These Included Atchison. Baltimore q orr
United States steel and the Hartman stocks brl,y
ing the total sales for the week to l50elo .hars.
Much OF this foreign selling represents stock &c.
was bought for London account when New w.,
was suffering from its paniczy market In ~.
British market prices rule were strong !.
peciaIIy Rio TintO. Money showed weaker "a.
dency in the British capital. bills being offered u
4ss the lowest figure recently recorded Ionso-
considers the New York demand for gold OVER ~
deed the question Of gold exports from here Is b.
ing discussed. owing to the rapid advance IN star.
ling.
MARKET GOssIP-Most market observer, :.
Iieve that prices have gone ahead too fas. 20
safety and that every effort win be made BY yue,y
cred shorts to bring about lower quotations ~,
advance has attracted weak public foliovinr
that would be snuEed out a point reaction
and this fact together with the technical character
OF the advance encourages a more aggressive attl-
tude by professional operators who favor thu bear
side notably the so-called New street crowd. which
is again talking dOlefuy about the future. On TIA
other hand substantial brokers OF tha A. A. H0us-
man class are buIlish and say that current buying
will bring in a good public demand Union Paciacs
advance brought considerable stock from G. D
Barney & Co. who recently were actfvs factors
I'm the advance In this Issue, but G. B. Macdonald
who also has been for some time active On tie
bull side, again a buyer Heavy selling O,
Reading and other issues was reported for ths
representing stock accumulated on thu receat
break Hooley LearnaFd & Co. bought the copper
shares, their operations being considered signl.-
cant OF support from prominent interests willis ths
purchases on the curb OF the cOppers. particularly
United Copper and Balaklala. attracted attention
Hayden. Stone & Co. are interested IN the latter
stock and are advising IT'S purchase. they De-
Ieve 1t possesses both speculative and investnsn.
merit. First class houses also taking Nevada-
Utah. On the afternoon advance Spencer Trask a
Co. had large blocks Of stock for sale. Ths buying
orders in active stocks given 70 trading houses
like E. r. Chapman & Co., who were specially con.
spIcUous IN Northern Pacific and Reading. and G
NInzesheimer & Co.. who bought the latter and
the Hartman stocks IN quantity good deal q
ingenuity seemed to be directed toward Disgusting
the source OF the buying. Shorts who got into ths
market on the recent break were pretty thoroughly
weeded out yesterday. and runOr had Il that the
Standard Oil interests were pushing the bear ac.
count all parts Of the list. including Consodatst
Gas. which gained points Flower Co. vera
active buyers OF Amalgamated Copper and Union
Pacific
BANKS HEAVY GAIN IN CAsH-The reported
movements Of currency in the present week show
that the local banks have gained in cash Sn.s2Tn
They received from the interior Ts0l,S0O and sent
to the interior S7SO2100 Receipts Of gold were
s25R.2OO. while the gain from the Treasury was
S952l.S0O The movements between New York and
the interior were nearly balanced in the week and
the small loss by the local institutions compares
with a loss in the same time a year ago oE mora
than SSO0o.o0O- The large gain Sub-Treasury op-
erationS was due to the deposits OF customs receipts
with the banks. Money easy yesterday and
predictions naturally favored a sood showing N
to-day's bank statement
GOLD RESOI4D TO LONDON.-Is was an
nounced yesterday by LAzard Freres that the
$25O.oOO gold engaged by the firm last Monday IN
the London market had been resoId at that point
The advance IN sterling rates and the developmsnt
,orIr-N aTf
this side of the ocean unnecessary. while its resals
in London was profitable operation. Sterlns
quotations tending in the direction Of higher
level. being helped by the sale Of American Sc
curities held abroad, which IN the current week
have aggregated $4,000 shares
COPPER PRICES AND DIvIDENDS-As Che
reports for the year 1906 have been coming in II
has been evident that the prices received by the
producing copper mines for that year ranged abous
10 cents a pound on the average. Only those lake
copper companies that produced the very highest
grade Of copper received anything better than -
cents pound. Therefore, when the present big
dividend disbursements OF the lake companies ara
taken into account and the big percentage Of re-
turn they paying their shareholders on the
present price Of copper shares. 1t is well 20 take
into account the fact that they made their good
shOwings OF the year 1895 average price OF
10 cents or less pound
GRAIN EXPORTS FOR THE WEEK.-"Brad-
streets reports the exports OF grain for the week
with comparisons. figures IN bushels. as follows;
Wheat. -four included. S.46eS72. against 27o'5as
last week 2155S16 IN this week last year. Ss6o7 in
1905 and ASST IN 1892 for the fiscal year date
1siO5l ST. contrasted with 1o515,2 IN 1s5-o6; 4s-
5lS326 in 1S0i-e5 and 10 109169 in 1901'02. Corn
2si7.OOi compared with 1stL6S3 last week, S.1o5-
$50 in this week year ago and 3S65.Sf5 IN 1905
for the fiscal year to date. 5i5S3.S6O against 81
1856 in 1s05-'OO and 6O,7451ss in 1sei-'o5.
REPCBLIC-TENNESSEE NIERGER.-The Ques-
pany and the Tennessee Coal and Iron Company.
the interests OF which identical. VIII be taken
up IN July after the per cent in back dividends
which remains on the preferred stock is paid on
The Republic company recently acquired tracI
Of land in, the South which IS estimated 20 contain
100000 tons OF iron ore The fact that the Rs-
public company has strengthened itself from the
standpoint OF raw supplies will enable the two
companies To make exchange OF stock on a
more equitable basis. Last year the TennesSes
Coal and Iron Company authorized an Increase IN
the common stock to S5OOoOO0O. practically doubling
the coupany's capitalization. At the time II was
stated that part OF this increased stock would be
used in connection with the merger Of the Re-
public and Tennessee companies
RETIREMENT OF CHICAGO. BURLINGTON
& QUINCY BONDS PROPOSED.-It IS understood
that the retirement OF the Chicago. Burlington =
Quincy Joint 4 per cent bonds. which were issued
in payment for SlO7S12.6O0 Of the outstanding Nb-
$50 100 stock OF the Chicago Burlington & Quincy
Railroad Company. has been favorably mentioned
recently by interests which dominate the affairs OF
the Great Northern and Northern Pacific Railway
companies. The bonds 10 run for twenty
years. and are secured by the deposit Of the stock
on a basis OF 500 In bonds for each 500 stock.
They are redeemable at 1O5 any interest dats
after January 1896
BETTER INQUIRY FOR IRON.-ProduceFs re-
port a better inquiry for iron for delivery IN tns
second quarter and fair sized sales have been
made. One firm has received inquiries for ab0ut