New-York tribune., 1907-08-01
TOPICS OF THE STREET.

! ir7rf fh,
ment BUSINESS restricted by money conditions
and nv the approach of a thTee-day holiday The
TaI, fs a regular bank holiday Money in
strong demand in London throughout the day and
the Bank of England did "A fair amount Of lend
ing the market
Exchange arr. having a difficult time in advanc-
ing stocks for than day at time. while
the bear interests find it easy to knock values after
every- inward movement. II the bulls had a Gates
Of old or Roswell T. Flower at their head they
might be able to carry prices up IN the face of
approaching higher rates to' I'ailS anu other adj
verse factors. but Gates is down and out FAR
being a factor in the market is concerned and
Flower is dead. Gates lost his hand IN the March
panic and il is a doubtful If he ever Will be able
to regain his hold the Street Yet for many
Years he has been one of the greatest bull Lead
ers ever known in the speculative community
Banking houses may have money 70 finance bull
speculation. but they have no leader They ars
poor spectators. and their efforts 20 lift Union
Pacific to the conversion price of the bonds has
been long failure. on the bear side pres
ent il requires great leader, but all the best
talent in the Street is aTrayed on that side Of the
market. The New Street contingent. which is made
up OF some powerful operators. is hearish on the
general list and IS especially active against St
Paul and AmaIgamated Copper They NOT
selling the stocks because they are not good in
vrStmentS for they are. but because they believe
their speculative position is weak and that passfng
conditions affecting speculation are in favor ot
lower prices G. Schumacher & Co We're heavy
sellers around tine room YESTERDAY. paying A good
deal OF attention TO Steel common. 1t was M
mored on the floor that attempt hanrar
6na,
the Standard OIL Company on August 3. IN accord
ance with the verdict against it its failure tn
observe the provisions Of the antitrust law Nor
gan interests Were said I" be supporting Reading
but the action Of the stock showed the selling bet
than the buying. The takinE Of the uDsold
Atchison bonds by the Morgan house was coDs5
cred a favorable market development as refectfnr
perhaps more confidential feeling by important
interests over the future Bears on the market
however. dealing with the present only
HIGHER RATES FOR 1IONEY.-The attention,
of tie financial community diverted yesterday
from the gold export expectations that had been
previously entertained to the local monetary most
tior The time money market was higher ara
banks and other large lenders renewed standing
call loans at 5l2 cent. which Tuesdays ana
yesterdays maximum figure Some calling of Ioans
VS. reported which was considered 70 some extent
responsible for the reactIonary tendency of the
rurities markets This shifting Of loans was
partly due 20 the preparations for the August n
terest and dividend disbursements Ir is I1-imatad
that If conditions permit another special gold ex-
port nay b- arranged within a few DAYS. r. IS n0r
believed. however, that the amount involved Uiu bs
| large.
INTEREST AND DIVIDEND PAYMENTS FOR
ATGTST--It < estimated that the dividend paw
meEts by leading corporations in August viii
amount p, s4 t53 30 an irc-aqsa over r. or :,
- and that the total Disbursements f1~ interest," ana
dividend for August amount 70 <1fT25- TIE in
crease i'm dividend diS-Jrserne0-s iS G-a the IL
crease in rates made by SONS ror-0~7 -a-z and %
additions made 20 tho dividend RATE. Industrial
S77st2=n increase Of Sls5a5z. and street rail-
WAYS. E2555.f7E. an increase of S52Ss11
FACTORS OF THE srTUATr0T-R1--'4rt.
Frazie- & Carri1s-01 say The appointment os \
receiver for e contracting frn- rh- settled d5-H-
CUries OF q concern ut -. Louis. and some time
hack the MillS%u mltter-aIl show vnlrE way the
wind Is blowing Speculation IS iH general juSi-
rsSs. not in the bond market or stock MARKET
Banks are fr"wnrrS upon new business ventures
and cali YOU UP on the carpet ir you renew -.I-
paper 700 much Wall Street I'm INSISTING On BUSH
moss Crrta 1e0t Is not trying - kin r-rA-r hu-
70 save II. and financial interests fera quite
feF or IN any market demanding v7i-.1- policy
until our loans ana deposits come cI1z=- raz--z--
and our liquid capital arrun1uI7raS tr decent ratio
with orr extended credit position
rTf1LApELPH1A. BALTIMORE < WASHING
I. TON HpNpS--The stockholders NJ t7a t....''--
pIi4. Baltimore & Washington have authorized 1T
issue II S5-rf"" bonds - He pm our at me 'Ssre
rion Of the directors. This makes the fI.a2. zri
bond issue S25.e1c". The proceeds Of this Issue
will b used for tho purpose Of paying t-lt COM
paay'z share 90 The amount necessary ro f-.zH 80
terminal improvements IN washington These in
rroveruarts the Philadelphia. Baltimore o. WASH
,0stoa company is Jointly constr,s~---- nf-- tae
Baltimore s Ohio through the company known %
the Washington Terminal Railroad Company.
portion of Jhe proceeds or the bonds VIII also -
used for construction and equipment purposes
BOND NOTES The S+oN'o 7a~ rs0- Vf--- 7-f
sewer bonds offered ty the CRY ~ Rockingham
y g.. remain Ursod. No satisfactory offer having
been received An election VII be- n=It 20 Sails
bury. y c. October 70 yrt- ~ an issue -
ssfoc'o per cent 3ly@ar Improvement bonds. \
S-6aa issue 1f municipal bonds ts said q r- uo1e-
consideration at Charlotte. y o.
HARTMAN nIvIDENDS-Gf a quorum can b
obtained the dividends the Hartman SCI 1- VIII
be declared today There = IN reason On s.1i's1
that tEare will not b enough directors nm hand -
make q quorum. -. most or f-A BOARD are ~ r
usir town. II IS supposed thar Southern P1ci11
will h placed a ps~ cent basis a YEAR aS3
Southern Pacific received itS initial dividend ~
per and Union Pacific was advanced 70 a ~
Per cent level
AMERICAN CAR AND FOUNDRY The Ar1ert-
can Clr and FOUndrv'S second quarter Of IFS GSci4
Year. ended yesterday. and the estimated -aErlnss
we're about the ia the last '...rrt'-- "AeA
. the company made such excellent s1o"iH5-
Larse earnings assured th~ous77-- r-e year
because Of the large number of orders booked ~
the beginning Of the fiscal ye0r and rNs surety u
further moderate orders in the remainder Of ths
year
SHOWS REPORT on CRANE W saos
gives the condition Of corn >2% decline q
over two points compared with I3.r T. 70
gives the condition OF spring wheat az 81 a u.
cline Of points during july Toe condition y
is given at IS T. a decline Of seven POINTS So
July l The average condition for five %7lrS paS'
is given So
PERSONAL NOTEs-Otto f. Kahn u Kuhn,
Loco X Co. who has bsen abroad for SeN7IaA
months is returning TO New Tork ou the Kaisern
Aususte Victoria. due here next saturday n n 9st
Rogers has recovered from his indiSp'siton OF -'
week and he will be az his office to-day
CLEVELAND x PITTsBUBG GUARANTEED
DIVIDENDS reSUiar guaranteed diaft51-ss
dividends Of Is, per cent on the original snaran'eeo
stock and cent on the siaran'eed .elt[.,Ieli I
stock of the Cleveland X FIttSoErS fstl."1S -
be paid September :.
DIRECTORS -ELECTED-At the annual
meeting of the Mexican National Susar Feh.--s F
Company, held yesterday. the retiring Hf9I'
were reelected
DIVIDEND DECI-ARED-Directors Of the FH-.t
delphia Company have declared a regular sem Seul-
annual dividend of -l2 per cent on the pEele'''
stock payable Septernher .