New-York tribune., 1907-11-24
TOPICS OF THE STREET


actWe IN the local market dealing in onI, = s oe
thousand shares evenly distributed betvras,, 5
ana purchases In London consOls were hrmer -
the general market, particularly the cOpper e,ro-
presented stronger tone Transactions 49,
chiefly in the direction of evening up incidenf -
Cle pe5lhhinS of the fOrtnightly settlement TSlaS
day Money rates were unchanged AZ the rs~i
European capitals. The Continental bourses w.
inactive 'e
OPINIONS OF THE BRoKERS-Market rts-.<
OF the leading Wall Street commission bo,s
follow: "ouses
Henry Cleys & Co. say: The necessity for -
adjustment is fully admitted the cbiaF o,,oe
ton being how best TO meet the crisis Hannilr -
process of recovery has already begun and sss$ss
conditions are already in sight Meanwhile tbs
only solution appears to be that OF allowing evsnts
TO take their natural course. with little art6csI
interference as necessary That is certainly the
best method for the elimination of weak spots "a
Wen as Tor the laying of safe foundations on which
to hase new forward movement when the tjrrs
is ripe On the other hand. it should be over
looked that there Is an increasing short interest
I'm the market: that the declines have been ax
trcme. and that good securities are selling far
below their intrinsic value These are times 81
Sreat opportunity TO- the genuine investor since
while prices may touch lower level in case of
further difficulties in the money market the d.
cline will surely be temporary in better class
of stocks and bonds. Actual investments made on
the breaks hereafter scarcely fail prove ex-
ceedingly profitable
Grannis & Lawrence say;
Speaking generally. the Southwestern rails are
the best TO buy
Marshall Spader & Co. say:
During the late afternoon the market became
quiet but preserved a fair tone. Influenced hv
lower currency premiums and belief that as far az
Treasury relief plans and gold exports could make
them financial conditions would stand much i'm.
proved with the coming week
Carpenter. Baggot & Co say:
1T be clearly borne in mind that the prices
of securities regulated by the necessities Of
the situation and not by intrinsic values and huy-
ers at these prices viii as surely ultimate profit
as that sunshine follows the darkness Of thJn-
der storm
t A Mcintyre & Co say:
= would be O % o
better Improvement in sight in the money sitra-
tion and more cheerful prospects for an early re-
turn TO normal rates of interest and more settled
conditions, but regret to say that far as We
there is no likelihood Of such developments
until after the turn of the new year.
A. o. Brown & Co. say
Early in the day there rumors Of further
later it current report that big loans
had been renewed and the impending liquidation
averted.'
Alfred Mestre & Co say:
LAS the premium currency entireis
disappears and money begins 10 move in a normal
way there will be an opportunity for improvement
in general conditions. though it must be expected
that the Improvement will be slow process. in
which further liquidation may be required
Bartlett. Frazier & Darlington say:
The activity in the bond market and the rela-
tive stability in our stock market are both taken
hopeful signs
Except for cash do not any inducement
to buy stocks. and believe no one win suffer much
by waiting"
Dick Bros. & Co. say;
THE financial situation is slowly improving. and
are inclined TO think that its improvement viii
bring rallies in the stock market"
MOVEMENT OF COTTON-"Ths Financial
Chronicle makes the total port receipts OF cotton
for the week ended November p 351,145 bales.
against 34S0S7 bales in the preceding week making
the total receipts since September 1, 1901, 26665
bales. against 3,S4559 bales for the same period OF
1906 showing decrease since September 1, 1907 OF
9O7 694 bales Weather reports by telegraph from
the South indicate that rain has been quite general
during the week. with the precipitation rather
heavy much of the Southwest and in some
sections elsewhere As result or wet Weatner me
gathering of the crop has been inter1ered with
somewhat. The movement of the crop TO market
has continued TO be on restricted scale, as com
pared with last year
FAIR BORROWING DEMAND FOR STOCKS
There was a fair demand for stocks in the stock
loan crowd to-day. Final loan quotations were:
AmaIgamated Copper. and per cent Anaconda
American Locomotive common. Atchison common
Brooklyn Rapid Transit. Baltimore * Ohio com
mon, Chesapeake x Ohio, Consolidated Gas, Colo-
radO Fuel and Iron, Chicago Northwestern
Delaware & Hudson, Erie common. Louisville *
Nashville Missouri Pacific. Norfolk & Western
Nortbern Pacific PeOpIe's Gas. Reading. Rock
Island. Southern Railway. Southern Pacific. sugar
Union Pacihc common. Smelters common and pre-
ferred Republic Steel common and preferred D per
cent: Canadian Pacific and St Paul. per cent,
United States Steel preferred, and per cent,
New York Central and Pennsylvania. Hat and
per cent; United states Steel common, per cent
NEW HAVEN RIGHTS.-Referrins; to the circu-
lar letter of the New York. New Haven & Hartford
Railroad Company. dated November is. Offering 70
convertible debentures. due 1913. the committee on
securities of the Stock Exchange rules that All
transactions in said company's capital stock made
on December shall be EEK rights sales of
rights made on and after this date, except trdnS
actions made specifically for cash must be set
tied on January 8. 1908. which day all due bills
must be redeemed: the right TO subscribe terml-
mates on January 10. 1905, on which DAY traus'tt-
tions in rights must be for cash" ONLY
DIVIDENDS Observation-Disclosures have been
declared as follows: Boston & Albany querJerN
~, per cent payable December 81; Detroit & Buf-
faIo Steamboat Company regular seUi-annual ) per
cent payable December Il; Detroit x tle'elaho
Navigation Company regular semi-annual per
cent payable December IA; South Side Ee'sIe1
Railroad of Chicago regular quarterly l Per cent
PAYABLE December 81; American Chicle Company
regular monthly per cent
BANK CLEARINGS--The total bank cleartnss
of the United States for the week ended Noveme1
q tone day estima ted) 81 9S2.349. against
s. 2S6 1872 in the preceding week and SSSSilSo'
4S6 for the corresponding week OF 1906. Compared
with last year the total cearfngs for the week &C.
Cllned SO per New York shows a decline OF
40 per cent. New Orleans IS per cent, Boston Z0s
per cent Philadelphia 20.3 per cent and Chicago
rs per cent