New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-04-02
topics OF THE STREET.

- a. T9or7In-
el I-nion Pacific, United States Steel and the
F"oD-e' T-bo fact that Canadian Pacific has ex-
o'ea "a violent advance since the closing OF tQe
pe51. exchange last Thursday viii lend partcu-
- ,teregt 10 The opening OF the London market
~ rs there is big short interest in the stock
sn London .-,,,,, ,,r,sr>-r,sc REAC
,-I@N- risk & Robinson. in their monthly bulle-
tin. say;
The occurrences OF the past month in the stock
market have been so thoroughly sci Lortn "a ' ne
sfer 10 them here. The interesting question - a.; -
70 Inc future What Is 70 9e the GS1i5 has been
sang place in the market price OF ponds LOT naS
80 ears and the liquidation IN stocks, "ISn De
Sc a similar decline in the prices OF commoaluess
ssgga hi wages? VIII the high rates Tor interest,"
sSeci- building operations and lead, therefore, 70
- cancellation OF orders for structural ma1eTlaIs
" =, Secreased purchasing power ali through the
Community. that gradually all classes OF tSoe
Iii "a through a period of less activity than they
have heen experiencing in recent years! AS Iur-
fher result VIII the demand for money DeconlS less
~1-obounced and interest rates ease or until the
strained conditions which Rave been SO evident LOT
several months are relieved ana uaIh tnS PsOst t
% Sotrr9 We are inclined 10 answer the fore
W S-lestious in the Affirmative We do not look
sor what the economists technically term Crisis
and we see nothing in conditions TO warrant a
.,Snic hut we DO believe that there IS TO be
rafural and healthful checking Of business activ-
san he business activities Of the country the
CaDita available for their use. 1t is not possible
S5fhn the limits Of space TO so into this ques-
zion in detail. The particular matter which IT is
desirable TO elacidate in this connection. while
hearing the entire situation in mind, is as TO the
course of prices fer investment bonds and stocks.
pressed last month in our bulletin that the time
has now for those having money 10 invest
70 begin 10 place it in good bonds.
COPPER PROSPERITY PRosPEcTs.-John D.
Ryan says:
Prospects for long continued prosperity in the
a,fr indus TRY f4K neK 81 a o.
S13oupt Of DEVELOPMENT work which has been done
during the past three years in a manner that has
been more than gratifying 10 those IN charge of the
eonpanys interests and the increased price Of cop
DER has made a very large tonnage of ore that
would not pay to work heretofore available. The
companies spending. and viii continue to spend.
properties in order TO be able TO constantly re-
q profit nv opinion IS that there is as much high
grade in sight in the Butte camp as there ever
hai in its history and especially in the deeper
workings. but the permanent ana great values lie
n the enormous tonnage of ore developed that
would not have been considered profitable Few
years ago but is now Of commercial value.
TRI-BULLION OBSERVATION-DISCLOSURES ". Tray
lor consulting and directing engineer OF the Tr-
Bullion Smelling & Development Company. has re-
turned from an extended trip through the West
end Southwest. in which he made a careful in
FDection of the Kelly mines owned by the company
4 New Mexico Mr. TrayloT states that the recent
spvelopments have been satisfactory 10 him in
every way. New ore bodies have been encoun-
fsred and from the cross-cuts driven from the
lover levels Of the shafts now being sunk
large body Of ore has been developed. On the sixth
level the ore will average as a whole, SO TO 500
ION. The same ore body is expected to be cut on
the seventh level in less than thirty days. only
about one hundred and thirty feet remaining 10
be driven.
TREAsURY's LARGE SURPLUS.-A statement
sust issued by the Treasury Department shows that
with three months Of the fiscal year vet 10 come
N 000 has
tep;s last month broke the record The largest
returns came from customs duties. For the nine
months just ended they exceed S25e.O0OCo, against
less than SOS 10000 in the same time last year The
increase in internal revenue receipts also has been
large For the nine months they amounted 10 $2l-,-
Ea0O against tribe more than SlS7.@eOoo in the
sane time las. year. A statement just issued by
ne Controller OF the Currency shows that the
amount Of circulation outstanding IS S5s7l2oSS. an
snerease Of sSss.9n during March and OF S424A0esS
fer the fiscal year. -
GREENE sToCKs-The sine for the exchange
al stock OF the Greene Consolidated Copper Com
pany for cananea Central Copper Company. which
expired yesterday by the terms Of the circular
q February Is has been extended 10 noon, April
g. upon the same terms and conditions as set
forth in the circular letter \ great majority Of
the stock has already been exchanged By The hold
rs Of Greene Consolidated shares. but some hold
are out Of town or have been unable 10 COM
lly with the terms Of exchange within The time
required. and the extension has been made espe-
caly 10 accommodate them.
COPPER IMPORTS AND ENPoRTS.-The total
copper imports excluding ore for February
amounted to 553SS. compared with S2OS4,o6s
NF February. 1906 Eight months imports
amounted 10 81. % 20. compared yith $6O2il6-
~ eight months last year. The total copper eN-
arts IN February amounted To S.SaJ,5s0 as com
Jared with $3.50 22l for February. 1895. Eight
ofad IN
&2lass for eight months ended February. 1906.
RON AND STEEL IMPORTS AND Elk
fO2Ts.-The total value Of iron and steel i'm
iEts, excluding ore for February, 1851. was 3d.
MSS compared with Sl.s75l73 for last year.
light months total S2J,5ll. 49, as against ST.
El2 for last year The total iron and steel ex-
Gllis. excluding ore. for February. 1901, amounted
. E3siO2, as compared with 81, 7Ss 81 for the
sane month last year. For the eight months ended
February the exports amounted 10 sll5.505.7sO as
compared with So. 4So,5s2 for last year
AMERICAN TOBACCO BUYS BONDS-The
AneFcan Tobacco Company has purchased out OF
y surplus funds additional 100000 Of its per
CENT bonds and has delivered them 10 the trustee
ioF cancellation.
ADDITIONAL CUSTOMS MISUNDERSTANDING
ieyou' without making public announcement.
aeposited customs receipts with New York
ss IN addition &c the sl5OOo.0OO which was de-
saiiaa under his recent special order. At the Sub
..tasury 1t was said yesterday that the Secretary
- --ae deposit OF 100000, IN addition 20 the
'AyA9 with a local bank, and IN banking circles
vas thought that further deposits would be
- representing daily customs receipts.
az IRON cERTIFTcATEs-Pig iron certin-
- ot The New York Produce Exchange were
49, ~ una about steady. Prices for standard foundry
,1. Cash and March So . bid; April. S22as24:
nay 81 50as2i; June. so asked; July 81 80 asked;
eelober. "a asked
-, SHORTS COVERED.-It Is understood that
.Aled Rock Island crowd and many OF the
49, eIalors who had been working on the short
I-Sr.,eS..t ne market for months cleaned up their
rs-f $50 ln me last big smash. Most OF the cur
sgrs 9l8 are thought 10 be the small fry, who
SPOUT run its course