New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-06-09
TOPICS OF THE STREET.


changed. The regular fortnightIv se+tle-oo. =
the London Stock Exchange begins this week
MARKET oPlNlONS.-AIarket views Of leadin,
Wall Street houses follow:
Henry Clews & Co saw. s7rhu ,
future Of the market IS somewhat h,tb*.-
The present low level OF values p,ves -
market a ranying power which is noticeable ..
soon as untaVorable news ceases We bava boa
such d long run OF the latter that values are
ready 10 respond to more favorable oor5,.to
Much depends on the crop and r,ona+-. ~
tons during the next few weeks II these hooa1
more favorable. the market should have ratr -
coveTy Al any rate the American farmer &c II,,aI
70 enjoy another year OF prosperityy from, .h -
ent standpoint. and this is encouraging" H
H L. Horton & Co. say: I'VE regard N. .,, -
having accomplished its purpose and cons,de- :,
good judgment to take profits D." II
Miller q 90. say: The whole fact Of the matter
IS that securities have reached levels ~ 80
their yield is much greater than the ,,.,ra -.
money ana the facts. attested by the daily ra,o.
Of increased gross earnings of the various rtI
Toaos' warrant the belief that the decline has dis
counted a setback in business which has NOT ma
teralized'' NV ma
A O. Brown & Co say: ut was Understood .ho.
support limits had heen raised. evidently with =
view TO make the shorts put the market nm ~
covering" up oy
Carpenter. Raggot & Co say: THE Penns,,,,-.,,,
Railroad takes the initiative in showing re+o,,ot
measures lor legislation adopted to limit nasse, er
Iat's % TWO cents mile. The method OF with
u'a"Ee 'oi'L-u'allon rates is very effective as -
reaches t-e interests Of large number ne 49,.
who may realize 10 what avtr [t4e
Ies'slatlon can drive the railroads In self d.fo
ana sef-pTeservation The withdrawal of conorD,
tauon rates by railroads generally would he Tolt
n an enormous aggregate shrinkaFa in tho ,.o1
suburban real estate" "a
Watson & CO. say: In spite of all that has han
penec TO the crops. and reliable testir,or,, - -.
ness the-eot. II is argued that the goverrr,er+,.
eS1-t-a'eS 10 be published next Monday cannot be
any worse than have been reported: the chances
therefore, strongly favor better agricultural cor5i
lions being noted a theory the market G. -or a
Eervatvely discounting
T. F. Chapman & Co say: I'VE cannot ,,,o
thursdays rally and Fridays continuation OF the
Fame as being caused by other than short 60,
Ing and manipulation"
Crannis q Lawrence say: I'VE are unoualiaad
bulls on the present market situation
Alfred Mestre & &C. say: The advance stf1r roi,
10 convince US that 1t is anything more tbsn
temporary rally" '-N
FOREIGN EXCHANGED. Schumacher & On
say: ~
During the week demand sterling has gradually
zS- G Int at the present time it is selling at
owing 70 the continued Shipments Of gold az P
rent is baII5 ~ 70 about 100000. This ship
1ear future and cause rates to advance and as
soon as this occurs the bankers will verv iii Hke1S
commence n draw long bills in moderate ayi,,oint
MS! us ESpTIylng the demand for remittances We
aed SIth $hs fairly large shipment and We mas
ser3os Iii ISr lover exchange before long. No
week although consols Saturday sold at The 6rest
Pearonces everything is in sound condition an
fs s SIooK Lnarkst here II has been or less
iew real Investors have come into the market ana
stsdged bonds although offered at concessa 55a
sS-+aceo tVo or three points, which undoubt-
sionel element few days Of sunshine Inspired
were / first supposed 10 be- and az 6aa eas as they
re narket has been more affected by atmospheric
Vaneed slightly for short periods money 40
AMERICAN LocoMoTTvE-The renort O, ~.
American Locomotive Company for its current
fiscal year to end June 30 will show the largest
gross business in the company's history The net
earnings for the year have not increased in the
came proportion as gross, because OF higher costs
% material and labor. and consequently net prob
ao-y viii show only a small improvement II any
over last year. It is likely that there Will be 2
considerably larger amount available for common
dividends, however. than last year as in 1905 the
company charged OF 100000 against the improve
nent and bett=rment fund and also 81 o0l SIS for
editions 70 property. After these deductions
there was available for common dividends last year
an amount equal 20 81 per cent
ONTARIO & WESTERN a,asO0o BOND IS
SCE--The State Railroad Commission has con-
scented TO the issuance by the New York Ontario
Western Railway Company Of sl.94S,O0O bonds
under the mortgage for S12.oCO0pO created by the
company in November, 1904. At the time Of the
allowed to be issued There IS st So O52o 900 under
the mortgage, for which must be obtained
from the board before issuance. The purposes OF
the bonds Tor additions improvements on
leased lines and equipment
DIVIDENDS DECLARED. - The Bullwhacker
Copper Company. Of Patsy Clark properties
has declared its first dividend Of per cent paya-
be July / The Butte Electric and Power Company
has declared its regular quarterly dividend OF u
per cent on fits common stock payable June Is 10
fF1ru rF
the preferred stock declared early In the year
at the rate Of IA per cent for each quarter, and
the unpaid dividends VIII be payable August and
november ! The Texas Central Railroad Company
has declared the regular semi-annual dividend of
u per cent on the preferred stock and the
tomary annual dividend of per cent on the COM
mon stock. both payable July 10 The Indianapolis
street Railway Company has declared dividend
q per cent OF its common stock. payable July l.
MOVEMENT OF COTTON-'The Financial
chronicle" reports the total receipts OF for
the week ended June at 90 299 bales against 45l3
bales IN the preceding week. making The total re-
cepts since September 1896, s520sl bales, against
'Ss5z5o bales for the period Is05-OS, show
ing an increase since September /, 1906 OF 2.037553
Da4es Geographic reports received from the South
indicate that the weather has been more favorable
as rule during the week. The temperature has
peen somewhat higher In the main. and although
ram has fallen in most localities the precipitation
hss quite generally been light very moderate.
Choer the better weather. field work has made
.alr progress. and some correspondents report an
improvement in the crop.
RAILROAD GROSS EARNINGs.-Total gross
iAl1gs OF thirty-seven DIS for the fourth week
% Nay aggregated s152s7 5o2, compared with s13,-
'o' II the corresponding. week year ago, an
Increase Of Sg97,8l2, 1909 per cent For the
.UHul OF May gross earnings of forty-sx roads to-