New-York tribune., 1907-04-17
TOPICS OF THE STREET.


riuan stocks. Amalgamated Copper. Atchison and
United States Steel. The London market follower
ours closely and there not much margin for
arbitrage operations. In London the general mar
ket closed firm after showing soma early deurss-
sion though throughout the day the Rio Tiutos
were strong. Discounts exhibited a stronger ten
dency. influenced by the fall in Continental en-
change the latter being responsible for the with
dCawal OF 10000 for Paris account. II reported
that both Russian and German per cent loans
will be issued in the future The London
council loan OF f2,5oe,O0O has been issued at q
and is quoted at 1 per cent premium.
MARKET GOSSIP.-SeveraI well known opera
tors who successful in the March market ana
Brandt Walker. the newcomer in Wall Street. who
made some large turns the bear side at tha
same time. have been putting out new lines 90
, shorts in the last few days. in expectation OF a
long absence of the public from the marlza-
Though the Iublic shows inclination to b,rv
stocks. the greater number Of professional oper,
tors not dealing extensively the short side
covering their contracts at small profits their can
tIon doubtless being based the fear Of SOM.
sudden work by powerful financial interests. and
the failure of the decline that began a week sro
70 bring out important liquidation Western bo-,sos
yesterday were sellers around the room, and bnv-
ing the rally lacked that agsresslveness vvbIe,
marks the course of genuine bull market
HoUsnan co, sold 10,00O shares Of Southern D.
cifc. and this firm is a Morgan house The 81,
ing attracted considerable interest Mr. Housuan
however. is a constitutional bull. and his go
need not be taken indication OF anv cborg
IN his attitude toward the market Arr7a-tos
Shelters stock IS difficult to borrow and lndIcs
uOns suggest that the Guggenheins can co,,,,,
absolutely the movement OF the stock +ho,,g, 49,
are not doing much in the market at present -bo
have the stock and this fact ought 70 disco1raqa
Independent excursions in it either side OF tbe
market c. 3. Macdonald who had buying or5s-9
In sons quantity during the forenoon and on MN
day. presumably to support the market seemed "a
be putting out some OF the stock and noticeabl,-
Union Pacific, on the recovery. Commission bouss
business was light, according to the general re-
port. a few OF the clique houses were active bu.
those with local branch offices reported very urtIs
public interest. The Western houses were dofna a..
well as any with out-of-town connections, but Bos-
ton and Philadelphia did not seem 10 be taki7s
much interest in market movements On the pub
Hcation OF the fortnghtIy copper statistics betta-
buying developed in both Amalgamated Copper and
Anaconda The traders. with c. 3. Macdonald
conspicuous. followed the lead The large decreasa
in both the stocks OF the metal and the quantity
in sight had TeassuriRg effect. after the largo
supply Of runors pointing to decline in the price
| Of the metal
MOVEMENT OF MONEY-The banks havs
gained from the Sub-Treasury since last Friday
S06S,00o due 10 government disbursements, such
as pension payments, quarterly payments Tor tha
transportation Of the mails and sundry other ar-
counts the aggregate Of which runs quite high A.
this period OF the year The gain so far noted thi,
week compares with loss by the banks 10 the
Sub-Treasury OF $4,000 In the same period las,
week and the Sub-Treasury was debtor at 1ba
Clearing House this morning to the extent os
s1,16o.156 This flow Of money from government
channels 70 the banks Is expected 10 continue a.
about the same rate for another week. There have
been no deposits OF customs receipts in the last
ten days The easing Ce money has thrown upon
the local banks the burden OF carrying a good
many obligations which until recently have been
carried FOR American account abroad Shipments
Of = rfad TO-
American interests IN Europe. are m some cases
known TO have been made 10 this side, where they
are now being carried. being hypothecated here as
securities for fresh loans. Transactions OF this
sort however. are not out OF the ordinary and
ally occur following such a relaxation in money
rates as has taken place within the last fortnight
REPUBLIC IRON AND STEEL'S MARCH
EARNINGS-The net earnings OF the Republic
Iron and Steel Company for March were Sos.62S
After making all deductions for interest etc, there
remained a surplus for March OF S45.2l3. For the
nine months ended March 81 the surplus appHcabls
TO dividends was S2sl5.791 Out OF this paid
three dividends OF S765633 each being 1s per cent
regular dividends the preferred stock and per
cent on Account OF accumulated dividends. total
of 81 per cent regular and per cent accumulated.
amounting in all 70 s22S5s01. and leaving surplus
OF SSl9 SEQ for the three quarters.
BATOPIIAAS MINING DIRECTORS ELECTED.
At the annual meeting OF the stockholders OF the
BatOpias Mining Company. held yesterday at the
ing directors were elected: George ". Qulntard.
Morgan J. O'Brien. Jefferson NJ. Levy. Hosmer b.
Parsons Edward V Loew Samuel Elliott. Henry
l. Rowland. Nicholas =. Palmer. Louis H scotr,
Francis j. Merchant and Lyndon H. Stevens. OF
New York: Enrique c. CreeI OF chihuahua, Mex.
and Washington, and George B. James. OF Boston
SOUTHERN RAILWAY NOTES.-Weakness in
the Southern Railway notes was accompanied BY
the report that there would be an additional issue
by The company There are S15,0oo,000 per cent
notes outstanding which sold by the road last
January ana offered 70 the public at g. They
were offered in Boston yesterday at 95 and no bids
Monday they sold at s5. Banking interests con-
nected with the company denied that an additional
issue OF notes was contemplated
AMAIGANIATED DIVIDEND-Ths AmalGs-
mated Copper Company win meet tomorrow 20
take action on the dividend. but no change IN the
rate Is looked for. The Boston and Montana Cop
per Company a subsidiary company Of the Anaal-
Camated will meet to-day to declare the quarterly
dividend. which undoubtedly win be left a. 50
share although an extra dividend ot SO shaTs -
expected
FOUNDRY IRON.-It IS estimated that inquiries
for foundry iron aggregate total Of rsarly 100000
tons Spot iron continues scarce and q sale was
reported yesterday at the equivalent Of SIS ton N
New York
NO COPPER on METAL EXCHANGED cog
per consumer recently endeavored 20 secure laEss
amount OF copper through the New York Metal Ex-
change on "a basis OF that exchanges duotauonS
but was unsuccessful
SALE OF NEW YORK STOCK EXCHANGE
SFAT-A seat on the New York Stock Exchanas
is reported to have been sold for S5S.5O0 This %
an increase OF $500 over the amount paid SoF a
seat last week.
EXPORTS OF MERCHANDISE.
Week ended Apyu 10 81 sss5ss ssas$ss gsssSsss's,: