New-York tribune., 1907-04-14
TOPICs OF THE sTREEr

FOREIGN TRADING.-FOreign houses ~
actlVe IacDors N the local market blvlnr 80 -.
oIlce' III 1He London market prices shows
stronger tone with a marked rally IN the -.
AIhto shares. these issues also being stron, -.
ures IN Paris. The money market At H.
capitals was quiet An advance in the -,
exchange rate sufficient TO check gold 7vitbs-.-
for that point had favorable Influenza T,.,-
foreign circles il is thought that the Bank ~ -
land Will not make further reduction in its -
count rate IN the near future. while II Is eo7.is
cred not improbable that considerable difcultvvg1
be experienced in preventing an advance
MARKET GOSSIP-The bear marty sbo,, -
dence of vigorous health. and In its opera,o,. ],
the last three days 1t has met with no oupogn,o,
worthy OF the name. As a consequences tha ss,-.
interest has been materially increased, rsDrez.,,
ing operations OF many substantial speClasvs
houses that believe the absence Of public buviu,
warrants lower prices irrespective Of the fact tb
general conditions are sound. James R. Kesua ana
his following are said to be bearish on the HarrI
man shares while despite the dividend position a.
Union and Southern Pacific there has been roas
In the last week the sale OF shares that have ba,
out or the market, though this selling nav havs
represented necessities compelling sales rathsr
than adverse investment sentiment on the HART
man roads Boston sold Analgamated in consl5.
cradle volume. Charles Head & Co. however. vsr.
active buyers. and some stock went TO orders An.
parently from Standard Oil sources where tbs-.
is no evidence OF bearishness on the market In
deed, the chances are No. % Broadway IS buuss
for the long pull. An active floor trader said YEA.
terday that while the bear account had increased
bull market needed something more than a sAo,
interest upon which TO depend. and that beyond
the short account there was no indication Of sun
port Investment buying has dwindled to small
proportions. but this is not surprising as the rein
vestment OF April disbursements has run its eourss
while there IS not IN the public's hands much ids
capital owing to the activity OF funds in the chan
nels OF trade. Flower & Co. were heavy sellers %
American Smelling and Morrison Brothers hat
large selling orders In Pennsylvania Stop loss or
ders were caught IN a number Of issues On the
decline. and the known weak long accounts wsr.
'gunned for with considerable success. the move
ment being helped by unfavorable bank state
ment Street sentiment favored the view Of furthss
declines this week. barring the Developments OF an
active outside demand
COPPER MARKET CONDITIONS-severaIN Nsw
York metal selling agencies are now selling elss-
trOlytic copper for June delivery on the basis os
2Hs cents. Z. o. b.. New York The market
however. Is practically at a standstu The agsn-
cies that have made the quotation Of 2s cents SET
tie with the producers for which they sell on tho
basis OF average prices reported by The EngInser.
ing and Mining Journal The United Metals Sell
ing Company. which is maintaining the price st
25i% cents settles with its companies the basl,
Of actual sales. The selling agencies which have
but little copper for sale this side of July that IL Is
possible quotations may be shaded several cents.
but say there is no occasion for any radical re-
duCtion IN prices. \ representative OF one Of ths
leading selling agencies says;
Copper may so down to "a. o. or possibly. y,
cents a pound and then, again II may NOT 81
down at all Everybody IS looking for lower prices.
but may be disappointed I believe that on a pass
Of IS cents for copper consumers would pSIcnsss @ -
enormously even 20 as great an extent as usS ~
when the Amalgamated interests cut Lhs meta & %
1la after fictitious quotations az lI cents Cos
ditiOns however are --SS different There are az
soutely no stocks and no legitimate reason to crop
quotations. Consumption IS ahead OF piouqc'.Js.. ~
and there Is just as much reason 70 MAINTAIN al. ,Ss @
price of copper at Is cents as there was to put s
conditions except the seneraI knoWledss Ist ~, 1,s
of the metal are abnormally high. ana tAat SOHA'
time they viii have To come down
sTEEI. BILLETs AND BARS.-SJeeI bilets ar'
extremely scarce at Ptttsburg. and are availao'
only by shipment from other producing polns.
Eastern steel is offered in PittsbUrg. an unusaA4
though by means unprecedented occuFrenCs,
pointing at once to the scarcity In Pittsoufs ~-
an easier tone IN bilIets in the East AsricuIlu"s
implement interests have abandoned their lGea y
obtaining concessions on steel oar cohtI@c.S'
they usually have and number have placed Gun
tracts at tho full price for the second half or ui
year With a concession they would have oousa'
10 July I next.
BEAVER NATIONAL BANK OPEN Fun
BIrSINESS-The Beaver National Bank at bea.e.
streets.
business The management states tnat W.
make a special effort to foster and serve lhe , "
camille interests OF the community. and IS ptepal1
20 grant every service consistent with the saie -
sound administration OF its affairs GeoIss a.
Coffin is president Of the bank; s. H. NahueIs Ns
and T. p Welsh vice-presidents. and J. = Ls-1s -.
line assistant cashier. The banks eepOS's -,
are the National City Bank and the Empire Ii-ss @s
Company. ..,f
RAILROAD GROSS EARNINGS.-The 80 80
gross earnings Of twenty-nine roads Tor 'He -
week Of April amounted To S7,tS9S1S. rs cOiNf
with SS.5SS 533 in the corresponding peru" -
ago. an increase OF $90NSi6. or 1S.u per cent -
the fourth week Of March the total gross ea-I ,ss
of forty-one roads aggregated H4I60.6oS as es-.
SlS 4S5.514 in the same week last year. a" N'0
Of 81 12SO14t or 8 % per cent -,
DIVIDENDS observation-disclosures have -
declared as follows: Grand Rapids & indiSN lana, <.
ular semi-annual Ia per cent payable on ApIN =
Dominion Natural Gas Company regular -. -
cent payable on April %; British ColamO'A .oSz
ers' Association SI5 per cent on the preiesfeu q,
On account Of back dividends. payable on M-s,, M-s
Grand Trunk Railway OF Canada sefAl-"iD-I s.y
per cent on the guaranteed non-cumuIa'i'0 =,
9I, per cent on the first preferred "a per -
the second preferred. and an annual ai'lus - a.
Der cent on the third preferred. payable On ,o,s.
PIG IRON CERTIFICATES.-Pig IRON Ger. s.s-t
az the New York Produce Exchange were qNe- s
unchanged. There were no sales. Prices ~ so
ard foundry follow; Cash. 81 20 nldi <1p 49,, -
s24 5O MAY SO . bid: June. So . oid; SU,s o~fo-
sal y: August S21GS21 80; September S-VSS-l'
Der, S21 asked ,z,,ncial
MOVEMENT OF COTTON.-'The F1nan.r 80
C,bronicIe' reports the total receipts OF eo'o-
the week ended April Il at 1855 oales' .o,ll
1O9OOs bales in the preceding week. ma sss 49,. haIss
receipts sirce September l. lSOo. Su'-'' 90
against 6.s565SS bales for the same pefloN 1s.s *
showing an increase since September r -
D haTa