New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-09-15
TOPICS OF THE STREET
FOREIGN TRApING-rbe tr.la,-.- -

FOREHrN IRADINC3-The
eign account aggregated a few thonss-S t II
purchases and sales being not far from, so1aJ =.
amount The London stock market was Fsf-II-
active with better tone. and American issues
closed stronger. The money market was go
Prices the Paris and Berlin bourses we're fir,
DIVIDENDS DECLARED-The directors OF the
Franklin Trust Company have declared a quar+arI,,
dividend Of 31s per cent. payable September IN
The directors OF the New Orleans Railways ana
Light Company have declared a dividend Of S2L,
cents on the preferred stock payable October Is
The dividend declared three months ago was 81 Is
share The directors Of the Beech Creek Rail
road Company have declared the regular dividend
OF per cent. payable on October L The Metro
politan Trust Company has declared the regular
quarterly dividend Of per cent. payable October
MOVEMENTS OF COTTON-"The Financial
Chronicle gives the total port receipts OF cotton
for the week ended September 13 1Oo.227 bales
against 1850 bales IN the preceding week and
21.6ss bales the week before. making the total
cepts since September 1. 1907. 1401s5 bales, against
2125s2 bales for the period of 1s05O6. show
ing a decrease since September 1. 1907, Of 1881
bales
NOTE ISSUE FOR BETHLEHEM SUB
SIDIARY.-An issue Of $4,000 per cent notes.
il is understood been arranged for by the Har-
Ian & HoIIingsworth Corporation, OF the sub
salaries of the Bethlehem Steel Corporation. the
notes being secured by deposit Of Bethlehem Steel
president Of the latter corporation The new notes
are said TO have been offered at s.
PREPARING FOR ILLINOIS CENTRAL MEET
ING.-Proxes TO an amount more than sufficient
to give clear majority at the annual meeting OF
the Illinois Central stockholders. on October Is.
understood TO have been obtained by the present
manag ement. whose efforts TO secure proxies have
been heretofore mentioned in The Tribune
BANK CLEARINGs-Tbe total bank cleariEss
for the week ended September Il. one day esti-
mated. 67G7 DO 134 compared with SS.054 $780,.
AIS last year. decrease Of 101 per cent. The de-
creases at New York. Boston and New Or
leans. Other cities reported increases
RAILROADS NEW SECRETARY--w- y. Pur-
Wis has been elected secretary Of the St Joseph
Grand Island Railway Company. in place OF ? W.
Russell resigned
BUFFALO & SUsQUEHANNA's JULY EARN
pany reports for July. 1S0z gross earnings.
der the form prescribed by the Interstate Com
merce Commission. total operating revenues. o,
s191.6S2
MARKET OPINIONs-Opnions on the market
by leading houses follow
Henry Cless & Co: From a spectacular stand
point the offering Of $40OO0000 corporate stock and
bonds by the city Of New York was distinct Sue
cess; the subscriptions more than hvefoId the
amount offered But from the point OF view of the
bond and investment market the result was not so
reasSUTing. The sale indicates that clearly
a investment basis. and this in means
that other high grade bonds must come nearer TO
this basis The copper situation has been a
OF depression prices OF the metal being still further
reduced. while the tendency OF banking interests
10 refuse accommodation TO carry additions 70 the
large stocks the copper companies have on hand
has brought affairs in this direction crisis and
forced upon the leading copper producers the de-
STABILITY of restricting production prevent the
accumulation Of their products becoming unman-
ageabe.'
Grannis & Lawrence say: With a trade recess
sion and tariff agitation and revision both plainly
sight for the years. obviously
a favorable time 10 buy industrial stocks
class. There is little doubt that some Of these are
really cheap but. everything considered, they
less attractive than the choice rails
J. s Bache & Co say: The stock market has
declined TO such extent that believe hlJida-
ton has its for the present Good rail-
roads appear TO be purchases at the present level
but do not advise buying industrials"
H. l. Horton & Co. say: TT is worthy Of note
that none of the dividend paying issues sold near
the lows of last month, and in the absence OF any
further bad news should have a continuance OF
this recovery into next week
Carpenter. Baggos & Co say We stiu adhsrs
the position were almost il not quite the
first TO assume. namely. to purchase carefully for
investment. and the bull side Of the market e.
cept for industrials will be the winning side in the
long run
Edward Sweet * Co say the future u
the market. ii seems to be the opinion colserva-
tive quarters that stocks cheap for investment
Liquidation has been thorough. and commission
houses are certainly not overloaded But, ar the
same time. commission houses are not willing TO
encourage speculation
Miller & Co say From our point Of view be-
lieve that all adverse news 10 date has been dis
counted. and that. therefore. railroad securities
OF merit good investment purchases
Prince & Whitley say: While this state OF az
fairs exists. can't believe in any sustained irs-
provement in either business conditions values
and therefore still incline toward sales bulges
although on drives purchases for will provs
profitable
market Is distinctly easier and further moderation
seems quite probable. With no new unfavorabs
influence an extension of the upward movement
seems probable