New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-03-14
WHEAT.
TOPICS OF THE STREET.

FOREIGN TRADING--Foregn houses dealt A,
5000 shares in the local market mostly sales h,
Lohdon tnere was selling pressure IN the Russian
bonds. in the Rio Tirtos and other secuririA. q,
which Paris is interested ConsoIs also were weak
The depression in the general market was Due n,
liquidation arising from the settlement much OF III.
seLns coming from Farts and other parts OF ths
comment The speculative position in Amsterdam
and Berlin is weak, and the continued high rates
for money in all the foreign captals are basi,rt,,
70 exert an adverse influence on the stock markets
MARKET GOSSIP--Merchants all over The conn.
try are taking money from Wall Street and snacr.
Iators IN stocks are forced to sell accounts carried
on borrowed funds The banks are calling loans
Of this character. Uptown traders were beav-
sellers yesterday OF Union Pacific. H Content was
a large seller OF the same stock After raiddav
STOCKS ran close 10 Generalization point and Read
ipg. IN particular. very nearly got out OF hand
Close inquiry among the highest financial authori-
ties reveals no individual weakness but indicates.
the question OF money here and abroad has oncs
more become acute Rates in Berlin and Aunster-
dam are stringent Paris is raising obstacles to
Withdrawals Of gold London would not hesitats
TO restore the per cent bank rate II any great
pressure were put upon her. The demand for
money there is good that large New York
bank is actually lending thirty day money in Lon
don al per cent Hartman & Co bought some
~ Mon Pacific on the break. c. B. Mcdonald ham
mered the Hartman issues, and all the leading
floor traders sold these stocks and the Hill shares
also Reading. in which H Content was an active
factor. A A Housman & Co bought 1000 shares
around the in the afternoon. supposed to bs
for Morgan interests but the chief buying came
from the shorts. Hale & StiegHtz also were active
buyers the decline. Rich men were heavy sell
at big losses. The experienced traders IN
the Street said they never such break thu
market without panic. The room, in fact called
il an orderly panic among the capitalists. Trad
ers considered the remarkable absence OF buying
power and of bargain hunters an indication Of IN
easiness in all quarters and of further lower levels
UNITED STATES OBSERVATION-DISCLOSURES
adverse weather conditions and congestion, the
earnings OF the United States Steel Corporation viii
establish new high record for the first quarter II
the three months ending March 81 Net earnings
will be considerably in excess OF S4000eo, but il IS
believed they will exceed the record breaking
earnings OF the last quarter OF last year. when
.7li9i4 reported Weather conditions in the
last quarter OF last year were much favorable
TO the steel trade than they have been since ms
first OF the year. Besides. there were more work
ing days in the last quarter of last year than IN
the first quarter OF 1906 Earnings for the first
quarter of 1876 65S44 40. The specifications
the United States Steel Corporation have been TAR
in excess Of production and orders have been very
close production since the first OF the year
Under the conditions that prevailed in the
last quarter OF 1906 earnings for the first quarts
Of this year would have been close to S+tO@0@
there is falling or IN business the second guar
ter of the current year Will establish new hi71
record in earnings. The directors Of the United
States Steel Corporation meet next month for tns
purpose of taking action dividends. The Qlss-
ton TO the rate 70 be declared the comlnoa
stock has not been formally discussed as yet
CHICAGO SHIPPING CASH To INTERIOR
Chicago banks are shipping 20 the interior neaE1
twice much currency year ana ai'
ordering more than twice as much from New 1oIN
q year ago. The First National has Ordeiss
from New York since February $400eCN and VII
order at least 81 OOO.OIN more this month. maklas
during Inv
same two months last wear. Its shipments for us
same period will be Sl.O0O00o. against S700Oe0 Hs-
year. Its shipments since February to date az
S5SOOOCO, or half az much as last year
MOVEMENT OF MONEY.-Iu their Operauo-,
with the Sub-Treasury the local banks have o.
since last Friday more than S4Ol0OO0 The banks -
making heavy direct shipments o. currency 70 -
West and sending large sums to Boston ana ns1, -,
cities. Influences upon yesterdays money an.S
included preparations for the payment or SAVss~
on Pennsylvania Railroad notes. S5,oo0@O 70. - S
Chicago & Northwestern stock and anucipauo-S i
the requirements for the Standard OIL ana S0l1
dated Gas dividends. due at the end OF the W
Secretary Corteyou announces that II is not -
intention yet 10 fix a date Tor the return g -
Treasury of the SSO0O0,oO0 deposited with the 49,
last September -v
CONVERSION OF UNITED STATES REA-la
BONDS.-The United States Really and Ini.-. II
msnt Company directors have passed res 80 Il.
to the effect that or before July l. ~. -, j
company will issue shares of its stock IN eAo-- II
for its bonds. the basis set forth IN the S,l- 4
sion privilege. which originally was Haee .,s- 4
nate July 1. 1905. BOndhOlders deslfia7 ~, me \
vert their bonds into stock required 20 -. n
company ninety days prior notice IN W.. .s,rs
their intention. such notice to be given on .,rs y
April l. The bonds are to be deposited az ~
time with the New York Trust Company. ,,,ss
SECURITIES LISTED-The follOWins sslI Isl.
have been added to the Stock Excna.S. sl-al 81
Chemical National Bank additional &,'o1.e assl
stock making total listed sSOOOooO; Si'Ao ,ond.
tionaI general mortgage "A per cent eouP0 nm
OF 1892 OF the Chesapeake Ohio ttailN1S as
pany. mazne the total listed sss57aOoO and "sr