New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-05-15
TOPICS OF THE STREET.

dealing In more than 9o.OO) shares. all sales. IT.,
heaviest selling was in GniOn Pacific Soutbar,
Pacific and United States Steel 1t was ASSUMES
from these operations that the foreign buvin, -
the last week had been for the short account a.,
that with trading for tine account on the o.
side stock being put out again Doubtless
Iondou is somewhat uneasy over the aIarmis+ =
ports regarding the crops In London the gena-,,
market was heavy. though there was good sun
mort i'm Union Pacific. The Canadian issues wsr,
features There was a frmer tone in the Brt,
ish money market. discounts were harder and mon.
bills were Offering.
MARKET GOSSIP man who got into troub.
with his coachman in Jersey and now seldom vent
ures below Canal street Is a bear on Delaware a
Hudson. He has several friends in the Street VII,
are willing to injure the reputation or any corpora
ton for a price. and they are now industrouslv
telling everybody they meet that Delaware & Hud
son IS a good sale. and one representative hons.
suffering from some mental trouble for a brief
neriod recently sold Of the issue and then re-
calming its senses went 10 the chief interests in
,ra nronerty for information. And this nforroa.,o
was made up of six words. namely. Buy. buy and
then buv more" In the next few days the peopls
who are bearing the stock may Brighten some stock
on the market because certain interests criticised
the management yesterday at the annual meeting
and because Mr.. LOree said the company vvould
hold another meeting il any new financing sborla
be considered necessary The company is as sound
as a rock and the chief trouble with the old man
agement appears to have been seeing how II could
conceal It's assets. There are a number Of bears
I'm Canadian Pacific who ought 10 carry In mind
the day not many weeks ago when the insiders
took II into their heads TO do some squeezing and
sent the stock up L points In a few hours. This
issue IS not in great supply available for spec
,llative purposes but there are times when strong
interests who have been accommodating II for years
lei enough to encourage the digging Of the PIT
into which the diggers always tumble
Selling of Anlalgarnated Copper does not come
from the right quarter 10 Il not Of the kind that
fnpresses the Street and il missed the mark yes
ter,lay although the stock had been generously
tipped for a sharp break Its net loss was a %
l point Wormser was q heavy buyer OF Inter
borough while IIalstead * Hodges sold A o.
Rrov-n & Co were credited with the purchase OF
OF 600 shares If Union Pacific, 5000 Atchison and
Il 600 United States Steel openly and through A.
II Combs and other brokers The LansoUTsn pur-
chase of 90 600 Amalganated Copper was said to
have had a similar origin The buying generally
was ascrffed to the covering Of big bear ac-
count on the failure of the market TO respond to
hear pressure The stock came out very easily, Al
though StefbeI Hernhein & Co were abe 20 nuy
II 600 shares OF Pennsylvania without advancing
the price all traders are not bearish on tAat IS
sue Western houses sold
No CANADIAN PACIFIC STOCk-The Cana-
dian Pacific Railway still has on hand the proceeds
of the 100000 preferred stock sold IN London IN
February last besides a large part or the SS"sfeO
realized from the last sale OF common stock II IS
understood that the scarcity OF labor and materials
and the long and severe winter season prevented
the company from using much OF the money from
the common stock sale One theory or the decline
in the stock holds that it was attacked on the dis
closure of the speculative position n LONDON ~
the settlement there and the inactivity OF New
York operators usually active in the stock The
Street had a rurnor yesterday. which was denied.
that the company would put out 100000 new
stock.
CENTRAL. AND SOUTH AMERICAN TEE
GRAPH COSIPANT.-StockhOlders or the Central
and South American Telegraph Company, az spe-
c!aI meeting held yesterday. voted 20 increase ina
capital stock from s. 10000 10 $l2ClOO00- OF This
amount 10000 is to be distributed 20 sharehol1-
ers OF record to-day . per cent dividend tAs
stock be issued on June / The remaining
s. 90 90 issued the directors deternina.
1t was explained that bsttermens and certain con-
cessions the territory where the company oPe--
ates have been capitalized for s2,00oo0 and this
amount Il % be distributed as a dividend
MONEY IN BOsTON.-T'he tone OF the Boston
money market continues TO harden, although thera
Is nothing in sight to suggest more than mod
crate frmness IN the position Money, however, =
not so plentiful. IS shown BY the statement ot
the banks published Monday. For the -ast Two
weeks banking institutions have been Largo buyers
OF commercial paper and have accordingly depleted
largely their surplus supply An official OF Lead
ing trust company says: Money Is a trtfs trIrer
because there is not so much money in Boston as
was the case short time ago. look C0- uodsr-
ately firm conditions through the summer. say
per cent for call and per cent for J.u-s money"
FOREIGN IRON HIGHER-There was d fur
Their advance in foreign pig iron Yesterday. TIE
quotation cabled 70 This side for NiddIeShoro iron
was 6es. It'd The stocks Of NI.ddesbo-o iron con-
tiuue To decrease and are now estimated az SSl00
tons There IS a big demand fog British from from
Germany and Italy While America is no- 7Cr-
chasing much iron abroad at present, large cargoes
OF previously purchased Will arrive here with
tn the next two months.
MILWAUKEE LIGHT. HEAT AND TRAC-
100000 per cent bonds Of the NIL
vaukee Light. Heat and Traction Company. the
mortgage 10 secure which has just been fled with
the Metropolitan Trust Company VIII be used for
imp vemeuts and extensions and also Tor refund
ing purposes. II is expected that rs soon there
is some Improvement in the bond market per-
tion the issue Will lie marketed IN New York
Not oil Of the amount. however, Will - required
for the immediate needs OF the company.
SOUTHERN PACIFIC RIGHTS-With South
ern Pacific preferred at ia. tho price at which IL
sold yesterday. the value OF the Subscription rights
AccrIing each share Of the present stock - 81 &
The rights selling the curb at - The dts-
ference IS attributable partly 20 the allowance
made 10Y interest by brokers bidding for the rShts
and partly to the dividend OF 3ia per cent payable
on the present preferred stock on july %
DIVIDENDS DECI.ARED.-The directors u ths
Pond and Mortgage Guarantee Company. q Brook
lvn. have declared the regular quarterly dividend
OF per cent payable May 15- The Consolidated
Gas Company has declared the regular quarterly
dividend OF l per cent payab.e on June Is.
PIG IRON CFlRTIFICA TES-P iron certificates
a. the New York Produce Exchange to-day weFs
standard foundry follow: cash Sc bid; May, June
and July. So 20 bid August. 81 bid; September
81 bid; October, SO bid
DELAWARE x HUDSON GETS BIO TON