New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-05-16
TOPICS OF THE STREET.

FOREIGN TRADING-Foreign houses sold ahoux
10000 shares balance in the local market chiefly
the Hartman issues and United States Steel. In
London the general market was heavy, consols de-
Ginning again; also the copper shares. The monev
market showed 1rmer tone at the British capital
due in great part to the calling OF loans by two
Joint stock banks. A small amount was borrowaa
from the Bank of England at AZ per cent for ona
week There change of Importance in ths
Continental financial markets
MARKET GOSSIP.-The manipulators wbo A.
bearish on Delaware & Hudson got in some errac
tive work yesterday. but the decline stock wa.
taken by substantial interests and one vbo
knew anything about the actual position Of N.
company sold the issue. The most powerful e.,
terests in the company working IN absolut.
harmony. with the object in view Of making m.
road OF the greatest investment properties &,
the country. 1t is believed that people who sell tbt.
stock short on the representations of certain v.I
Street interests of unsavory reputation will M.
make any money unless they can catch the turn,
One of these days it will be found that in This
security. as we'll in other issues there Is No
stock for covering purposes. except at prices tina,
will net heavy losses the short sellers Unio,
Pacific and Southern Pacific were bought by thu
best houses in the Street In yesterdays decline
while Reading also well taken. There is a
strong pool in Reading. and when the time is rips
for advance it's price quite likely will develoo
one of its characteristic moves that hurt small
short accounts. Chesapeake Ohio sold OF early
what was believed TO be the liquidation Of col.
& Whlteiv.f
Hertzfeld & Stern and ]. s Bache & Co. had SELL
ing orders and traders helped the price down Tbs
old pool in the stock never appears 20 have seen
daylight since il commenced operations in 1902 and
the final stop loss orders thought 70 have
been caught when the price crossed a. There WASH
some bearish talk the Southern roads Shearson.l
Hammill & Co. started -.e advance in Natonatt
Lead and followed by H. Content. B. L.
Smyth and other traders. There appeared 70 bel
little OF the stock in the market Floor traders
btr,- r.l-e
and arbitrage houses bought stocks over night in
spite of their early sales. on the curb it said
further advance might be looked for IN NIanhat-'
tan Transit.
MOVEMENT OF MONEY.-The banks lost Tues
day s2O8 600 but since Friday gained S90O0 In thu
time a week ago the banks lost S2.0s5010- The
local Sub Treasury was a debtor at the Clearing
House yesterday for s113s1f7 account of ncreas-
ing pension payments Customs collections yester-
day were lerge-a1Os,l5l- In financial circles cons
siderable interest attaches TO the reported prob-
ability of call by Secretary Cortelyou for part of
the deposits OF government money held by the ma
tionaI banks. There are immediate indications.
however. of any notable change in money rates ons
way the other.
STANDARD OH. REGULAR DIVIDEND-Ths
directors OF the Standard Oil Company have de-
clared quarterly dividend of 50 a share. the sams
amount that was paid IN the corresponding quarter
last year. This compares with So three months
ago. The following will show the dividends de-
years 1895 and 1915 50 a share in each year; 1901
IS share: 1898. 81 share. 1892. 80 share; 1901
Sl2 share and 1900. so a share The following
will show the dividends declared by the company|
in the first two quarters for series OF calendar
years 1895. 1903 and 1905 50 share In each years.
1895. S27 share 1872 $50 share; 1851. so share,t
and 1860. $50 a share.
AMERICAN GRASS TWINE-The Interstats
Commerce Commission, in opinion by Commits
sioner Harlan. has announced its decision in tbs
of the American Grass Irvine Company agt-
the Chicago. ST. Paul. Minneapolis & Omaha Rail-
way Company. the Mutual Transit Company, tHs
New York Central & Hudson River Railroad Cons
pand and the Boston & Maine Railroad CCmpauy.'
The complainant is awarded reparaton for tbs
difference between the o. and the - rates
on its grass Irvine shipments, ue paid by ths
Chicago. ST. Paul. Minneapolis < Omaha Railway
Company and the Mutual Transit Company.
having received the whole OF such difference AS
to the other defendants the complaint IS dismissed
GENERAL. ELECTRIC.-The gross business %
the General Electric Company since the first of ths
year has been running the OF 5000 30 a
year. In the fiscal year ended January 81. ths
actual gross business OF the company over
S60.coOco. The subsidiary companies 81 the Gem
eral Electric have an aggregate surplus OF about
$4,000 which reflected in the recent
nual statement OF the parent company. The Cie1-
eral Electric Company has made no recent pUr-
chases OF copper. An interest OF the company says
he does not look for any reduction in copper prices
IN the near future
ADMITTED To QUOTATION on STOCK Exc
CHANGE--The common and preferred stocks q
the Federal Sugar Refining Company have been
admitted to quotation I'm the unlisted department.
OF the Stock Exchange. and the shares Of the Feds
eraI Sugar Refining Company OF New Jersey hava
been stricken from the list
PIG IRON CERTIFICATES iron certt1s
Gates at the New York Produce Exchange vera
dun and unchanged There were no sales. Prices
for standard foundry follow, Cash SCI bid: Maya
and July. So so bid; August. So bid SepteusS
Der. SCI bid: October. so bid
MEERSCHAUM BOOKS CIOSED.-The books
of the Meerschaum Company Of America havs
been closed. The stock was placed the market
in April and has all been sold No stock can IA
bought direct. II being traded IN only or tho
curb.
SUGAR PRICES ADVANCE.-The price or ~,
fined sugar has been advanced 10 points - bas1s
OF 4sOc less per cent for cash by the American.
Sugar Refining Company. The Howell and Art
buckle tehneries also have put their price UP u
points.
ANACONDA DIRECTORS ELECTED.-Af
the annual meeting of the Anaconda Copper Conn
pany yesterday the directors were reelected.
DIVIDENDS DECLARED-The SIoss-Shsf1slt
Steel and Iron Company has declared the regular;
quarterly dividend of Ia per cent the Conrloa.
stock. payable June l.