New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-05-28
TOPICS OF THE STREET.

FOREIGN TRADING.-Foreign houses sold 20 600
shares In the local market chiefly the Morgan and
Hartman issues The failure OF London house
on the eve OF the fortnightly settlement the
disturbing influence IN the London market. The
general market in London weak and closed
heavy In all departments. Money was firm and the
price OF bar gold advanced. OF the gold offer
ing In the open market the Bank OF England got
the greater part the Bank OF France securing only
F5O0o. Money rates were firm. with call funds at
per cent.
MARKET GOSSIP.-It looks to many market OBJ
If the short interest might receive
quick and tight squeeze before long, for the good
the account already is heavily extended.
while stocks have been going out of the Street on
investment buying In heavy volume. The amount
of stock available for speculation purposes is prob
ably smaller at present that 1t has been in years,
but this fact does not discourage the traders who
apparently have made up their minds 10 stay short
OF stocks indefinitely. Such plan may be followed
by heavy bear losses but far the bear element
has been successful that It nothing ahead 10
upset It's plans. and of the members Of this
party using reprehensible methods TO bring
stock on the market Certain notorious Wall Street
characters circulating unfavorabe stories about
various corporations hut II Is not considered likely
they will be able to brighten investors to any ex-
tent. A broker recently received an order from a
woman 10 sell her holdings OF Delaware & Hudson
because OF the attacks made upon the property by
manipulators she believing the property actually
In trouble, but, fortunately the broker CON
WINGED her TO the contrary and so she Countermand
ed the selling order. Small holders OF this
be frightened into sacrificing their investments. and
Yet the circulate of false reports harm In
their operations Tho trouble Is these people
stepped IN evildoing that they cannot dfferenti
ate between right and wrong and probably would
not be worried in conscience II they could. Com
mission houses look for an irregular market
throughout the week and in most cases are advis-
ing customers not to take position on the short
side, owing 10 the dangerous extent TO which the
market has been sold Houses with Western con-
nectons were among the sellers yesterday partc-
ularly Union Pacific Amalgamated and United
States Steel. A line Of stop loss orders caught
in tho early trading notably In Reading at par
were about the most important sellers of Brooklyn
Rapid Transit below so. Traders seemed afraid to
start market In marlborough. which they are
cautious OF selling short, although the court in
junction against surface using the subway's
electricity is regarded as very bearish point A.
Upper & Co. who active IN putting out stocks
at the end OF last week. and j r. williston & Co.
who then sellers also, selling heavily
particularly In Reading. Traders say the usual
bear houses employed to SELL but that stocks
suspiciousy plentiful In the early loan crowd
1t Is argued not unreasonably that all the sales BY
IL bear house not necessarily indicative OF n
position the short side. 1t would be good policy
employ such houses liquidate any large lines
OF long stock. Clark, Dodge & Co. gave the usual
support the Great Northern certificates but
the Hill stocks generally acted badly They are
said to have been sold lately for tired foreign
holders with engagements to meet in other drec-
tions C. D. Barney & Co perhaps the most
significant sellers OF the afternoon putting out
about forty thousand shares around the room in
GLIDING Reading. Union Pacific, Arnalgamated Cop
per and Atchson In large quantity. IT was selling
of this character on any rally which made the pro-