New-York tribune., 1907-10-27
TOPICS OF THE STREET.

-opFTGN TRADING.-About 1890 shares were
Sbt for London account in this market princi-
T of the United States Steel issues and Read
p@' most Of the buying being direct orders.
Es, Ess-Ican stocks IN London were strong advancing
= light volume OF trading. The general market
sboEed improvement
phNK CL.EARINGs or THE wEEK-The
I hank clearings of the United States for the
-, ended October 26 tone day estimated) were
" ae9 os 80 against S3l05,6S5.4S7 In the previous
ueek ana So'4'0'''A''S 4OI 'l9 corresponding week
Of lss.
DIVIDEND ACTION DEFERRED-Action on
+be per cent quarterly dividend on the preferred
IL of the Trenton Potteries Company has been
nostroued Eight per cent yearly has been paid on
Ne 81 2ap9 preferred stock since April 1901.
MOVEMENT or COTTON.-'"The Financial
rronicle' gives the total port receipts Of cotton
tor tie week ended October % 3l5.9S6 bales
ees;ust 2E7.g73 bales for the preceding week and
SsaA bales the week before that, making the total
eeegts stree September !, 1907, 1.554,4S7 bales,
rainst l5s 50 bales for the period Of 1906,
ehowing "A decrease since September :, ISJ7 of
glBS bales.
MARKET OPINIONs-A1arllet views OF some of
,be leading Wall Street commission houses follow:
Benry CiFws & Co say.
The week has been memorable one in tne
financial history of New York. Never has liouida-
ton on such e drastic and extensive scale been
% successfully met. and panic seems to have been
success[uuy restricted For this the Clearing
Een=e committee Secretary Cor1eIyou and a small
eroup .. srnzt nrancial leaders must be chiefly
fharkes Ry dear headed. courageous and de-
csye Ect-On they have undoubtedly averted a
fnanca: nataciysm. There is. in consequence the
best OF reason for believing that the worst is now
e-er This does not mean tnat liquidation is ended
On rhe contrary, the tremendous contraction which
been endured In the financial district threatens
"a extend with less severity throughout
tie wholo country. The full consequences of what
has taken place IN the last few days yet be
dearly fo-eseen, but from now on the LIQUIDATION
rrour;ses be conducted IN an orderly fashion
ssd TIE country saved from unnecessary loss and
disaster By foolish panic The who have
stepped into the breach stay the tide of appre-
pension are entitled to the strongest thanks not
Only of tie financial community but OF the entire
country one important fact should not be
locked. our crops are bringing profitable prices
and there IS sure 10 be good demand, both for
eign and domestic. for all that farms have
produced This VIII prove valuable support to
business throughout the country and will do much
10 Offset any reaction in the Industrial field Many
securuos ara at bargain prices and small in
vsstors have collectively absorbed considerable
amounts. security prices have also reached a
poin. 7t~To European buying must become q
factor"
Marshall spader & Co. say:
II IS SAFE - say that the entire situation now
dere55s on sentiment Of the general public having
deposit accounts with the institutions of the
IN. and il IS hoped and believed that the object
lesson furnished by the Secretary Of the Treasury
and the New York banks viii aliay distrust"
A. @. Brown & Co. say:
Bankers are quoted as expressing the belief
that the situation IS considerably improved"
T. A. Mcintyre * CO. say:
we regard the general situation and outlook
decidedly better than the last several days, and
believe are now passing the crucial point in the
money panic"
=. r Chapman & Co. say:
we deem il advisable for the present to avoid
speculative commitments and make only such
operations as are Of investment nature and accom-
PANIED 10y the payment for the securities in ques-
f0r."
GTaunis & Lawrence say:
Investors have not sacrificed their holdings
cept when necessary, and even the bears have
generally stopped selling, because prices low
brokers do not dare TO encourage such operations.
Chandler Brothers & Co say:
1t seems 10 US that the market shows signs of
having touched bottom, and we advise buying on
the weak spots
RsrtleJt, Frazier & Darlington say:
Saturday and Sunday being past and all loans
running over until Monday, the interval Of rehec-
uol VIII do a great deal 10 restore confidence gem
orally ana permit remedial measures TO be taken
" quietly"
Fsrris, Winthrop & Co. say:
There was very much better tone 10 the
market at the close and the feeling seemed to be
that the Street would find a much brighter out
look"
Prince & ..vhitely say: 'speculatively, we be-
Beve stocks are 4 sale these rallies; for invest
aent we would buy them all soft places"
Carpenter. BaggOt & Co. say:
'@ro those who haze money TO pay for securities
Nc say unhesitatingIy. buy them. The arteries of
commerce VIII be kept open