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

the general market quiet, and consols were
! shade hrmer The Paris Bourse was strong. I'M
der the lead of the Russian bonds and the Rio
Unto issues. Money easy In the foreign capt.
tails. and cable dispatches Indicated that rates
would be lower In the current week On the Lon
don Exchange speculation Is about dull as It Is
In the local market. with no prospect OF changs
In the Immediate future.
MARKET OPINIONS.-Ideas on the current mar
ket vary, may be seen from the following views
OF leading commission houses:
Miller Co. say: We still believe that the ten
dency OF the market Is distinctly upward. and that
purchases should be made regardless OF day-to-day
fluctuations"
f. r. Chapman & Co. say: We still fail to see
any evidence OF desire 70 create more stable
prices, and. until this becomes apparent we advise
trading only for turns, always favoring profit TAX
ing sales strength"
Chandler Bros & Co. say: The market IL IN the
hands OF a skiful lot OF manipulators who caring
very little for actual conditions, except to safe
guard them in their final position. are creating
special movements up and down and increasing
To this extent activity In the general market"
II. l. Horton & Co. say: THE market is profes-
sional. and do not LOOK for anything more IN
til better line is had crop conditions II will
be easier TO razard guess after the publication
OF the government crop report on the 10Th Of this
month";
Marshall. spader & Co say: The security LIST
appears TO be gaining friends and this may be
partly the result Of confidence OF investors but
perhaps also caused by increased freight tariffs
time"
Harris Winthrop Co say: As soon "a N.
railroads OF the country borrower a per cent
interest basis they will bid eagerly those terms
Judging by the Improvement and construction work
held up pending favorable turn in money market
affairs. II seems clear that the railroads would
gladly apply for SO00e.co0 IL IL could be secured
at per cent Although such borrowings could
be financed at this time. the financial situation IS
lettering so fast 10 suggest the gradual restor
tion Of conditions that VIII make possible the 40
scrption OF good railroad bonds at earlier date
than many have been led 70 expect
a. @. Brown < Co. say: THE bank statement
was not up TO expectations. It had been figured
TINS morning that loss in cash and fairly
large Increases in loans and deposits would bs
shown but the figures larger than had been
looked for. However. IL there is no material hard
ening OK rates or Monday. the effect is likely bs
only temporary. and II crop news IS more favor
able better market IS probable next week.
BONANZA BELT STOCK OFFERING-Ths
Bonanza Belt Copper Company announces that sub
scriptions viii be received at its office No 20 Broad
street, New York for 100 60 shares OF tho par value
of $40 each, s. q share from MAY Il 10 .Tuns :
The total capital OF the company consists OF $4,000
shares The company owns about two hundred
and thirty acres located IN the centre OF the
southwestern copper district. CochIse County Arr
ZOna. which Is now said be producing So per cent
OF the copper OF North America This region Is
noted for rich mines that have been developed by
ex-senator w A. Clark, Colonel William c. Greene.
Arizona Copper Company. The well known mines
I'm this district reported last year earnings con
siderably In excess OF their capital stocks and The
Bonanza Belt officers claim that not one OF thess
mines, with the same amount OF deveIopr.enc work
made the same showing the Bonanza Belt makes
to-day The prospectus OF the Bonanza Belt Con-
pany states that the three miles OF underground
workings. shafts. tunnels and crosscuts OF the
Bonanza Belt have produced over one million dol
lars in carbonate The company recently struck
the sulphtdes in vein TO u feet wide, carrying
y per cent copper. The present issue OF capital
stock is for the purpose OF obtaining funds to aid
IN the development of the company's mines to a
production of 200 per day. AT the present prizes
OF copper. such output. II is claimed assures net
earnings OF Si.20oO 900 per year.
CANADIAN PACIFIC'S BIG EARNINGS.-Gross
earnings of the Canadian Pacific for the last week
In April increased $415.OOO. making for the month
gain of SS4e. 0O0 comparison being made with +ba
same time year ago From July l gross earn
tngs have increased $-7s4 ~
SOUTHERN PIG IRON SOLD FOR NEXT
YEARS DELINERY.-The Southern pig iron mar
ket IS very strong. and advanced 5oc TO 81 a ton
during the last week No . spot foundry ia held
at SIS 90 10 81 ton. with practically mona IN bs
mad Foundry irons for the third quarter are SELL
ing at $40 50 to $50 for No and for the last quar-
ter at $40 10 SIS % ton. The SIoss-Shefald is
asking SO fiat for No , foundry for third quar-
Ter delivery No. foundry and soft iron are prac-
tically out of market except for the last quar-
ter Orders are coming in without soIicatiou- A
considerable portion OF the probable output the
hrst quarter of 1905 has already been disposed OF.
which indicates great demand and strength for
the market.
MOVEMENT OF COTTON-"The Financial
chronicle reports the total receipts OF cotton for
the week ended May at III 40 bales against 10
oVs bales last week and 20 4sl bales the preceding
week. making the total receipts since the 1st OF
september. 1906. 26i $50 bales against 10 bales
Tor the same period OF 1906 o. showing increase
since September l. 1906. OF l5s bales Weather
reports Indicate that rain has fallen in most To-
calities during the week. and has been excessive
at some points IN the Southwest While planting
operations have progressed fairly we'll. rue
there are complaints from various sections OF TOO
much moisture and too low temperature. II -
claimed by some that much replanting will 30 nee
essary.
CENTRAL & SOUTH AMERICAN TELEGRAPH
A meeting OF the stockholders OF the Central s
South American Telegraph Company Will De he'd
soon TO Increase the capital stock from sooW
TO S2.ooooo. IL Is the intention issue s2Ocos"
holders to capitalize earnings expended for sdoi
lions The balance will be used to provide Tor t'e
cost OF the new cable between New York and Colon
and other extensions and betterments-
WABASH DEBENTURE BONDS-An but anour
IL per cent OF the Troublesome Wabash deoenturs
bonds have been rendered for exchange under inc
readjustment scheme. according 10 the latest TO
turns to the Stock exchanges. There are now OUT
standing about So OF the BIS and little over
600, COO Of the Tho coupany the hight 70