New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-03-29
TOPICS OF THE STREET


FOREIGN TRADING.-Foreign houses were M.
active in the local market. total transactions
amounting to 2OOoo shares. all sales. In London
the general market was strong, prices being helped
by the absence Of failures. Investment buying was
reported in eOnsols and high grade railroad issues
including American stocks Money was In good
demand but discount rates were a trthe easier
IN Paris money was firm. and the Moroccan situa-
ton caused some uneasiness on the Bourse.
MARKET GOSSIP.-Wau Street traders ordl-
naTily paEic-stricken at the prospects OF a Mx
railroad strike but far they have shown no
uneasiness over the dangerous aspect OF the labor
situation in the Western railroad wcrId OF course
II stocks had rot teen through such severe
sruelling in recent weeks the promise OF a biz
break en- strike talk would be better but the
chances are. nevertheless that in the event OF tha
tleins up Of traffic IN the West the stock nlarIsr
VIII suiIeT further losses The foolish theory wa
advanced IN Wall Street yesterday that the rail-
IoaSs would welcome strike at this particular
uhe' this idea being 2 par with the 500 aa0 0sa
bankers protective pool story and the rennrt tb.s
= n hartman viii sever his relations with Kuhn
L1oeO q 60 Any old story goes nowadays IN the
street. though IT IS well worth recording that n
vestors are taking notice OF the cheap prf-sq =.
which sound railroad and Industrial shares AZ.
selling. Odd lot buying has been resumed and h
lower prices develop this sort OF business will IN
crease. There Is plenty OF money in the coln,r,-
for cheap stocks. cheap real estate CT anv4bfr~
good that IS cheap. Canadian Pacific to the exteut
OF 5000 shares has just been shipped to London h
sialI lots oy one OF the leading arbitrage houses
and Of this stock less than 1000 shares were IN
certificates OF from 70 four shares H Con
tent was the heaviest seller OF Union Pacific and
A. .. Brown Co. also were conspicuous on the
same side. while C. B. Macdonald again vas an
active buyer on all recessiorS c. Knoblauch had
some heavy selling orders in Reading and U-nion
Pacific His operations were fairly typical OF tina
style OF business in the afternoon which was main
" IN the hands OF large traders. like J. J. Manning
n Content CaSpaFy and J. r. wiIiston. Can
contingent, who had passed word round that rates
would be stiffened up over the end OF The week
and month The large lenders say that the real
demand fOr money is urgent but Is rot IN Wan
street az all American Express stock declined Il
points 20 20 en- sales OF AS shares Representing
forced sales for the account OF interests which
were Injured IN the recent smash and have been
compelled as consequence 10 raise cash Through
sales OF investment holdings.
COPPER PRICE,s-Interests Identified with the
copper trade are extremely hullish over the out
look for many months more OF activity IN the
copper industry. While the requirements Of most
manufacturers using copper are covered in great
part for the next few months. there is no weak
enns IN the actual price Of the metal. and quota
tons on the Metal Exchange. which do not reject
the actual market should not be taken as a guide
in studying the present position OF the market IN
the last few DAYS the posted quotations on the
Metal Exchange have shown declines. when. as
matter Of fact. there has been no change IN the
thing. copper is hrmer and some authorities look
for higher prices later on in the season. TIE
future 81 the market. OF course. depends upon tho
extent to which possible general trade reaction
may rum but as yet there are indications IN
the business world OF the development OF anything
more than heathful resting period.
J. G. BRILL COMPANY FINANCING.-The re-
financing of the J. G. Brill Company one Of the
largest streetcar constructing concerns in the
try has been concluded by the sale Of S-s7eOo
preferred stock through Edward r. Smith & Co.
The company viii use portion OF the proceeds for
the purchase OF the WasOn Manufacturing Conn
pany. OF Springfield. Mass. which will be taken
over on April I. and the rest Of the money raised
by the sale OF the preferred stock. which was sold
at par. will be used as working capital The stock
will be listed the Philadelphia Exchange. and
the financial statement shows that the present
earnings are sufficient 70 cover the dividends on
the preferred stock and leave surplus largely IN
excess OF 10 per cent for the common stock.
STANDARD OIL DOWN.-Standard on STOCK
made a new low record for the year at is4 and tas
lowest since IL sold Sa2. in May. 1901. deeaos
ago the issue sold at SIS. from which il steadily
advanced to it's high point Just named In me
panic OF May 9. 1901. It sold from SO down TO ~
and closed that day at 765 On May 10 Il opened az
SoO sold 20 7sS ana closed at sos Since then ts
movement has been toward a lower level the 9e-
cline representing q shrinkase of $i6OooOO0 tfoHi
the high record level
EXCHANGES THAT WILL CLOSETS New
change viii be- open to-day. but will be closed TO-
morrow The Cotton and Coffee exchanges viii %
closed on both days. The Metal Exchange and
Produce Exchange close tomorrow, and tho Mar
ttme Exchange remains ODens as usual &raoU
eally all the foreign exchanges Will close to-aeF
and many VIII be closed until Monday. The Lon
don Stock Exchange viii be closed to-day to-Tlor-
row and Monday.
DIVIDENDS DECLARED.-Divtdends have been
declared as 1ollowsl Cripple Creek Central Rail-
way Company regular quarterly per cent pay
Rbls April %; Railroad Securities Company res~
lar semI-annuaI dividend per cent on rns pr
rsrred stock, payable April I: LaekaWenna tsse
lar quarterly 25S per cent. payable April o 49,
York and New Jersey TelephOns Company HesN.
quarterly ia; Alliance Realty Company 49,
quarterly dividend u. per cent. payable AprAA ~
PIG, IRON COMMUNICATIVE ron ee+e-1
Gates az the New York ProGuce Exchange ~e''
dun and unchanged. Prices for stane2Ea 1'e-e.s
follow; Cash and March, 81 50 eiai A9eAs - -
bid; May. s2l 55GS-. June and july N0'S asA'-
October, SO asked.
CUSTOMS DEPO5ITS-The Suh-Treasury paia
20 local banks yesterday scao00co On customs A0
count and sl.9ooOoo on account OF redenapt'oa :.
United States IA OF 1901 The banks have sa1nsa
since last Friday more than SsoV0w kRoia 20
srnNlent.
DIRECTORS RE-ELECTEp.-At the sS Seaaou
ers' annual meeting OF the United states Mor,Yas
and Trust Company. held yestertayS tae sr ~
directors were reelected as We'll as a. RseseN- -
GERS
INTERNATIONAL sIIyER.-At the ann1 %
meeting or the Internal loflAl silver NoHlPaxJ e.,
Livingstone BesCkman elected a cAEs>ross =,
scrsaslng number o directors from nite1A
A4rA.f