New-York tribune., 1907-09-28
TOPICS OF THE STREET.

FOREIGN TRADING.-Foreign houses sold IN
900 shares balance in the local market IN Ton-
don the stock market rule was Inactive az nm
important changes The copper stocks were heav~
Call money in good demand for settlement -r,-
poses. and long time loans active per cen-
In the Continental markets securities were not ma
terfally changed from the preceding day Will,
money rates remained at Thursdays level Cable
dispatches said 100000 gold would be taken fron,
the Bank of England to-day for tse account uf
Egypt
MARKET GOSSIP.-Much bear talk comes ,ro,,
Pittsburg, and efforts being made 10 carry :hs
steel stocks lower as result of pessimistic gossip
from the speculative interests in the Smoky Civ
One house with active Pittsburg connections talk
ing OF SIS a ton for pig iron, and that its
informant thoroughly well posted upon ths
copper situation before that metal broke. II looks
as if the wish father 20 the thought. as the
analogy between the copper and steel situations has
not been proved yet Some of the bear talk on the
industrals takes in the railroad equipment stocks
and particularly the car companies. who getting
less business because the railroads want but
cannot pay for them Boston was an active seller
of the cOppers- The easy decline in General Elec-
trio not liked and reports of lower earnings by
the company were put out. James R. keene's
friends deny that he has had anything TO do with
the attack on the market He is not believed to
have been trading in considerable quantity for
time past His attitude has been less
bearish for the last year, but he is credited with a
good deal of active trading that really comes
Through totally different channels. z. r Chapman
& Co were among the more considerable buyers "
Union Pacific the afternoon rally in that stock
They were thought to be covering shorts. possibly
for somebody else. they have been talking bull
sh. and particularly on Reading
BANKS LOSE MONEY-The reported move
nents of currency this week indicate loss in cash
held by the banks of S5.4OS9o They received from
the interior s4,5sS,6s0 and to the interior
s. $500 including s25O0 transferred through the
Sub-Treasury TO New Orleans. S250O00 so trans
ferred TO St Louis and S1O65.010 national bank
no1es sent 10 Washington for redemptfon THE
loss to the interior 50 SOS Receipts of new
gold were 81. .190,5o0 namely: New York Assay
Office checks S1.033so. San Francisco Mint
snca T-f-,. RTr-
Ordinary disbursements by she Sub-Treasury in
Guiding deposits Of public in national banks.
were S2I 704. 100. Payments by banks to the Sub
Treasury for customs internal revenue , per cent
redemption fund etc, were S24,40l.o10 The loss on
Sub-Treasury operations proper was sZie26t1- The
total loss TO the interior, S}.S9s.9oO and Sub
Treasury operations 50 702 so $3.50 800 De-
Quoting the gain by new gold Of sllSt,o". the net
loss was s5,4oS9Oo
ROTHsCHILDS ACCEPT vALORIZATION
PLAN-Repeated efforts have come from Rio and
London connecting the ROthschtlds. OF London
who have long been identified with Brazilian
finance with loans account OF the coTfee mold
tngs. under government auspices Willetr & Cray
saw The new feature in connection with valoriza-
tfo, fs thar Messrs y NJ ROthschild & Sons. OF
London have accepted the loan OF 100000 pounds
sterling from the federal government OF Brazil 1or
valorization purposes II Is ascertalned that Ine
panic and issued at SO last December IS now SELL
ing at g. Considering the innumerable attacks on
the standing and credit Of the sac PanIc govern
ment. the present quotation 1or tne eAclel0eF
loan furnishes fiat contradition TO all the deroga-
tory statements So freely INDUCED IN by the ap-
ponents Of valOrtZation
800" LINES NEW STOCK OFFERING
The Minneapolis St. Paul & Sault Ste Marie Rail-
vxy Conpany has issued a circular 10 us Stock
holders giving the details Of its new issues ot
stock. The new issues were approved at the annual
meeting of the stockholders on SEPTEMBER i Las'.
when it voted 70 increase the caPloa rl rom
600 TO s42dGO0s9 divided into 14lUO snares
OF preferred and 10000 shares of common 1hers
will be issued at present S140o,0tJ preferred ara
50 500 COO common at par in amount OF one SHARE
of new for each five shares Of old held the raro
TO be one snare OF preferred ana TWO sldreS VI
common
GRAIN EXPORTS FOR THE WEEk-'Brad-
streets reports exports Of grain for the week.
with comparisons. figures in eusnels as Ioilo"S.
Wheat -four included 5272737. against 434so4 last
week t5-4s5S last year. and 44I0552 IN 1871 Ior
tbe fiscal wear 70 date 4i.14I.513. compared WITH
90 S7Se22 II 1e7s".. and 17,914 IN EEL-V.: coFi-,
11e3 $50 against -9S9ll last week ana -oo,oo1 -
1905 for the fiscal date. l35sl5 contraSte0
with 8 2f2 in 1896 o.
SOUTHERN MONEY MARKET.-Ths money
market at New Orleans shows a decidedly frrner
tone and while there is no strinsency fulds are are
IN none too ample supply for requirements me
market shows increasing pressure tor crop plF
noses and the general trade demand has expanded
somewhat the weekly bank statement showing an
in OF more than Slu+s'ute N tOreiSn
a.cLo,ga biUs which were in very quiet orfer1nS
An Iasr week some Improvement IS noted Do
rneSttc exchange has developed nlucn easier IONS
under increasing supplies or cotton oiiis-
rrvrOENDS Observation-Disclosures have been
5aci,ra5 ae follows: United States Glass regular
C,,sr-e-Iv uer cent payable october Il United
states Industrial Alcohol Company regular quar-
,s~rv Is, per cent the preferred. paEa0l on
October II Streets Western Stable car company
re,1Iar quarterly so cents share. payable on Oc-
to6er o Chatham Bank regular quarterly per
cent payabIe October l. z w Bliss company
regular quarterly 22 per cent on the common anu
per cent the preferred