New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-04-13
TOPICS OF THE STREET.

important factors in the local market ts,' ~
amounting to less than 10000 shares Ynos+Iv -.
Of AtchisOn. Union Pacific, Erie and United stato.
Steel common The market FOR cur stocks N -
don was inactive. and arbitrase houses found Tt.,
profit in transactions. Foreign sentiment vra- 4,
1iuenced adversely by the decline IN Rio TTyD,
shares and by the failure OF the lower rata -.
money 90 attract active public demand -
curities The general market in London w. -,
and heavy. while In Paris decided weakness 60,
reported. due chiefly to the fear OF troubIA 4, -
settlement, owing to the wide fluctuations IN vt
Tintos. Money was in fair demand at the Brr,.S
capital
MARKET GOSSIP.-SpecuIators who are ~.l,,.-
the copper shares short profess to be unset o,s-
the position of the copper market basine 49,
''uneasiness" on the course OF copper quotatIo1s
on the Metal Exchange at this centre ana on 49,.
decline in the metal in London. There have 49,.
no transactions in copper at the Metal Fexcbs.
prices. and the regular selling agencies in thu +
maintain quotations at the level which has mr.
vailed for many weeks. but II may be that aetDar
business In the next twelve months win h. -
Quoted at figures under those DrevaiIIns, r.-.t
larry II a lower tendency develops in etbsr &c.,
Competent authorities. however, saw that fba,- -,
pect no material decline. Boston houses sOld co.n
shares yesterday, and both Amalgamated ana -
conda reflected this selling and the vveaEDos- =
Rio TtntO shares in London. Whila thera a. -
great bearishRess Atehison tradsrz aD-
willing to sell 1t short the slightest provocstt
owing, no doubt. to the failure OF tba sfool- -
I've
declared. As a per cent issue Atchison Ioot,
cheap, but the action OF the directors IN adva1.f
the rate has not increased investment purrbo,.
ana IL IS not thought likely that It's price viii
move TO what ordinarily Is considered a q pa- -
level for a long time to come IL at all esD.o,o1I
as there Is no certainty that the company vHI -
able to maintain per cent dividend indeanIs,I
The so-called uptown element was an acttv, s-I1s-
OF Union Pacific and Sc. Paul, the latter stool, -
parentiy floating toward the Standard Oh o.,
The insiders are not helping their stocks b,,4 -.
pear willing TO take them declines FvIFs,,S
they do not believe It is possible 10 bring abo,. .
big bull market at present, and traders reco.nizp
this attitude are increasing their shorts tho,,gJ -
ercisng considerable caution. J. W. Daviq a -
an investment house, active buyer OF TYp,,
Pacific, while HaIlgarten & Co. sold CharIo- =
Gates & Co were thought to represent IN tbs,-
sales of Union Pacific the long stock OF a financial
interest compelled to raise cash for thu protsct,
or commitments elsewhere In the market SOM
OF the most active and powerful houses have bssr
making six months time loans borrowing AZ Dar
cent. with half railroads and half Industrial. =.
collateral The inference Of one banker who ~,
been making such loans is thar the houses h onss-
ton are looking for bull speculation in ths fan
with special activity in the industrial group. ar6
are preparing to handle stock bought In antici1s-
ton There was practically no important tnve.+
ment buying yesterday.
BANKS GAIN CASH-Ths reported r,ov.,...
OF currency IN the week indicates a gain m cssb
held By the banks OF 8. 1850. They receives -
the interior SSl2s5@ and sent to the Interior SsQ5
90, including $4,000 sent through the S,b-7ro,
- New Orleans and $0O0aO 20 San Franeizoo ~
receipts Of new gold were 81 ,523 T6. Crdinar1 A.
buTsements by the Sub-Treasury we're sqaxaaaoo
Payments by banks 70 the Sub-Treasurv FOR r5,
toms, internal revenue. Per cent redemption fund
etc. were S25o2-90a The gain on Sub-Trsau,,r,.
operations proper was 81 9S $50 Tha total gsir
from the Interior. S257000; new gold 81 S227O and
from the sub-Treasury, sL9s5.s0a was s16soa
me receipts from the interior were smaller than
q A. Va
points, and some from the West and South shin
rnents were also chiefly 70 nearby points Boston
and Philadelphia The feature was the transfer
through the Suh-Treasury OF $4,000 to San Fran
ciseo which was in preparation for the movement
OF the fruit crop. San Francisco has usually taken
good deal of money from New York IN former
years for that purpose In the corresponding week
OF 1895. just before the earthquake and fire. there
was transferred to San Francisco through the
Sub-Treasury $4,000
COPPER PRICES.-The large proiucsr. OF ro,
per report no developments OF unfavorabIe char
ac'er over the last few days outside OF the action
OF tue Metal Exchange IN marking down quota
lions The large producers continue 70 ignore tba
Metal Exchanges prices. quoting eIectroIvtio con-
per at 2b cents and lake at 2SI8aas cents a pound
\ representative OF the AmaIgamated Conner Com
Pa"y says the copper situation IS as sound as 1t
was early in the year, and there have been no de-
veiopments that would Indicate a recession n a.,
near future Sales OF electrolytic have been made
at @Sis cents but no large blocks have been dis
posed or az that figure. This Metal Exchange made
further reduction in its posted figures yesterday
while decline was reported In copper prices in
London. On the other hand. it was announced thai
a consignment OF Calumet and FIecIa conner for
July delivery had Just heen sold at S cents a
pound, this representing about the TOD Agures
which the market has reached
HEAVY RAIL SALIES-The sals % Asnoa tn,
or open hearth steel rails by the Tennessee Coal
and Iron Company at $50 a ton T. O. b. Biru.ine-
nam ior delivery IN 1898. has been followed by a
sale or sO.ot0 tons by the Lackawanna steel Com
pany to the Monterey. Fresno q Eastern FOR de-
HVery this year. The United States Steel Corpora
uoH mas also made some heavy sales. and IL Is
inquired that the total purchases 50 far this week
nave been in excess OF $4,000 tons One leading
steel manufacturer says the situation Is stronger
to-day than IL has been any time within the last
SIX months The rail mills have sold their entire
possible capacity for the current year.
GRAIN EXPORTS FOR THE wEEK-"Brad-
streets reports the exports OF grain for the week.
with comparisons. figures IN bushels. as follows.
Wheat flour included. 1881 lO5 against S41S7a last
week ISOS,ST in this week last year, 2SaSN in
100 and SSi2N2 in 1902; for the fiscal year 20 date
lsSSSSo2 eontrssted with 1O7 JO6Sl9 IN 1sO5os a.
s sly IN EOa-S and 2os 95l IN 190o2; corn. l.
A1SsH9 compared with 1911 d last week I767S9
IN this week year ago and ss995S IN 1896 for the
hscal year TO date. 56O5957S. against s9s9s1s5 in
1SO5-'06 and 6sO44s5O in 19Oa-O5
AMERICAN PNEUMATIC SERVICE COM
PANY PASSES DIvIDEsND-Becauss OF the in
creased business OF the company necessitating the
use OF larger working capital the American
Fneumatic Service Company has passed the dvi-
dend on its preferred stock, which from October.
1852 to January, 1902 paid at the rate OF per
cent q year. 1t was suspended at the latter date
and resumed in March, 1895.
OLD HUNDREDS CAPACITY INCREASED
Great activity is reported in the San Juan district
colorado The ores being taken out are showing IN
He and IIys hfeF1