New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-08-08
TOPICS OF THE STREET.

TOPICS OF THE STREET.
FOREIGN TRADING.-Foreign houses bOugh.
Is 600 shares on balance in the local market Tha
operations were purely of an arDltrage nature ana
did not represent EurOpe's attitude toward Anerf-
can securities According to foreign bankers EG-
rome would like to buy securities. but is unwiI-
ing to do so under present unsettled conditions
affecting the relations between the corporations
and the various states In London cOnsos were
weak but the general market was hrm; Discounts
were strong. The general money market position
abroad is causing uneasiness in foreign financial
centres but in the best informed quarters it IS
believed il will work out without disturbance.
MARKET GOSSIP-One of the leading cou1rfs
sion houses received yesterday large number g
selling orders from customers who IN almost every
instance said they were afraid Of the current sir
nation and believed prices would work a lower
level as long as state agitation against the rail-
roads continued. There was more genuine Hquida-
ton Of long stock than al any time since the spring
and bear traders were not slow to take ADVANTAGES
of this movement Large selling orders came from
houses identified with Standard Oh interests. and
n was thought the latter tired OF supporting
the market disguised with the troubles that are
hea ping upon them and ready TO give Standard
OIL object lesson to the government in the shape
of a general attack upon values IN order 70 create
public distrust of the movements by the state and
federal authorities against corporations II Is a
noteworthy fact that ever since the return OF N
G. Frick from Europe the market has gone steadily
lower. James r. keene IS said TO De working on
the bear side and the New Street contingent Is
openIy bearish on the general market An Inter-
ACKNOWLEDGEMENTS interest said yesterday the
weakness in the Inter--Met- stocks was due 20 bear
tan,rnerfns based on the investigation Of the com
many bv the Public Service Commission but there
aaoreared 10 he selling other than that for the
shorts StiebeI Hernsheim & Co started the de-
cline in United States Steel. while they also were
active factors in forcing Amalgamated Copper on
tba market W. B. Oliver and other active traders
J,aror1ared American Sugar Refining floor Cos
sin had IL that there would be stupendous 1ne
imposed upon the corporation ACCORDING to specu-
Iatfve gossip every corporation IN te country is 70
ra fred and different courts 10 vie with one
another in attempts TO break the record established
nv Judge Lands The Street IS full OF silly talk
iu1p- fha
nAssinnisrn that prevails in the high circles OF
finance Stocks that are sold are hndlnS buyers
,oTraver hut the trend is toward lower level
Reading is getting to the point where it belongs
as rer cent stock. but the chances are il will 90
Iouer The general comment in the street Is that
securities values will go much lower before suS-
tanned bull movement develops
COPPER PRICES DOWN.-On the Metal Ex-
change prices of copper were lower yesterday. but
o,,o+etions vere purely nominal and did not repra-
sent actual operations In London copper for ninety
DAYS delivery broke through 80 d ton ABOVE which
ezI,ra N had been quoted since July. 1915. Tns
equivalent here of London prices is 40 cents
pound The spot quotation yesterday in the Londa1
market was the lowest since August . 1876 The de-
rnoraIized condition Of the copper marked wasre-
Elected in weakness in all the copper shares both
tbs exchange and on the curb the shares Of Anal
eanated and Anaconda selling at the lowest figures
81 the year RIr1ors regarding the future course OF
nrfces for the metal were IN abundance, and one
banking house received the information that the
metal would at l. cents in the near future No
sales OF copper are being made il this market at
a1v price, and producers admit there viii have 10
hs further readjuStrnent beI0rS consumers can
be induced 10 enter the market CONFERENCES are
being held with this object IN view and II IS prob
able q new schedule OF prices VIII he announced
before the close OF the current month. Producers
as a rule do not expect break in the price Of the
metal below IS cents, but this. OF COURSE. IS
merely conjecture The Amalsauated Copper
Company can maintain an per cent dividend On
its stock with the metal at Is cents a pound
AMERICAN SUGAR REFINING--A sharp de-
cline in price % the shares OF the American sugar
Refining Company yesterday was accompanied by
rTfwrcr -7~0-a
which apparently had any basis IN fact One
rIlrnor that a huge fine would oe IeFied
by the government At the once OF me company
II was said there were no suits pending against the
property whereby a sum large Or small could oe
levied IN the nature OF a fine The company was
4ned q number OF weeks a 60 BY the government
for acceptug rebates and il expects further az
tion by federal authorities for the good reason
already has suffered for its grimes" The state
r1snt published some days ago that George H.
Earle. fr receiver OF the Pennsylvania sugar Re-
fnery would apply 10 the courts for an accoCntlns
OF the business and profits OF the American S-s4r
Refining Company DOUBTLESS was used BY ths bear
element reason for an attack o. the company
stock.
600 Tuesday Sub-Treasury operations, but since
Friday gained SOf7.010. compared with a loss IN
the time week ago OF SLS2'''+- IrA SUD
Treasury a debtor at the Clearing House yes
terday for sos 502- Next week pension payments
will BEGIN to show the usual Increase toward the
middle OF the month Business collections are less
nror1pt than heretofore in some sections and is
considered remarkable situation that current hsn
rates do not attract money 70 New YORK rom ne
interior or from Europe Jtil yesterday the largest
| discount on New York exchange at Chicago at any
time this season was 81 cents a $500 The rate
was quoted yesterday at . cents discount. ind-
eating the frnlinence Of outward movement Oh
| funds for crop rn0-f1g and other purposes
| SECURITIES IISTED--The following securities
| have been listed on the stock Exchange: Central
| OF Georgia Railway Company, Sl-e9o'9 adlitionaI
| consolidated mortgage per cent bonds q 1'a
making the total amount listed S1S.2tfeF corn
Products Refnine, Company. S2173,o10 twenty-five
wear per cent sinking fund gold bonds. thu COM
nnittee also has been empowered TO add 70 the Ist
/ from time time. but prior 20 January /. ~
$50 COZ additional OF said bonds official notice
Of issuance IN exchange for National starch Aanu-
| featuring Company per cent bonds. rlaAl1g liz
| tota! amount authorized 10 be listed S.si5eo.
| r,rvTDE~nS Observation-Disclosures have been
| decIared as follows: National Biscuit. regular
/ quarterly Is per cent the preferred payaois
August 81 American Shelters Securities Company
I regular quarterly - per cent on the preIerred
stock Series A and IL per cent on the preferred;
| Series 3 PAYABLE September Z Berlsrt-Font
COMPANY regular quarterly IL Per cent On the pre-
| ferred payable August Is. and II per ceae on as
/ cor-,o, navable September % Reading, regular
/ serni-annual per cent on the first preferred Pay
/ able September 10. United CIgar M3'lIactU-sI
/ Company regular quarterly "a Per cent payaD.s
| September I Consolidated Gas regular Ql-1Ie1S
| per cent. payable September IS
| ROCK ISLANDS EARNINGS.-Ear1irgs OF %
| Rock Island system IN the month OF June nna1s
favorable COMPARISONS with the same r-orth a yea
ago. when traffic receipts were heavy. Cross 80.
irgs OF all lines IN the system were $685.. as
1850 795 in June q year ago. and net earl1ss -.
60 So E5 against So S0S SIS last year For the
r,o,tbs ~ the hscaI wear gross receipts were SL%
49, A. as compared with s95.Sl65S IN Jne VEt,
| year and earnings were S07,zI9''o- = -Ls
s2s.1S5726. The policy or the IliS 80 earnings
company IS 10 build UP the property from ca
, as much possible
AMERICAN TOBACCO DIVIDEND -,
CREASED-The directors OF the AInsIlG 14 ~ p,