New-York tribune., 1907-04-16
TOPICS OF THE STREET

out upward Of 5000 shares. These sa1ss - -
made when the market exhibited a rauvi,.
dency- The largest dealings were IN steL, .eH-
United States Steel. the Hartman shares so-tt
ern Railway. Anlalsamated and Erie In -. -.
Erie and AtchisOn attacked and &C., ~
close Of the London Exchange there uras a.., 80
selling OF American issues on the curb Tn. -,
on the exchange was better owing TO the sr
ance OF supporting orders The general T,o-5
market closed strong. after considerable vreal-,
helped by higher priSes in Paris Money -
easier and freely offered in the oDen MARIE. -. 80
per cent. while short time bills were diseouDtos
SIG per cent The market was helped 10 -
weaker tendency OF Argentine exchange and h. ~
reduction in the Netherland bank rate 10 81 -
cent
MARKET GOssIP.-It was fntimate5 1,..
that Wall Street house was I'm trouble an1 -
fact that this firm. as disclosed YESTERDAY ~
unimpOTtant concern tended to create a better ss-
timent in speculation circles while the evidence -.
good support on the early decline served to indu.
an active covering movement. Insiders ara rs.5
70 extend assistance whenever indications % i,
mOralization develop. but the fact that the prof.
siOnal element is able to carry the marker ., .
point where 1t becomes necessary for the intara..
identified with the properties concerned 10 thr,,,
IN supporting orders is not favorable sign - !,
sustained upward movement. A number a. =
counts that We're carried over the March bra,.
have been liquidated IN the last few days ana IN.
markets position has, OF course. been soueub..
strengthened a result but apparently Il win "a
quire something more than this to stimulate uub
lie interest In speculation Bartlett Frszis- a
Darlington and other houses with grain comma.
tions, were active sellers at the opening. q y
Macdonald was an active buyer Of Union Pacisc
and as his orders generally come from innportars
sources. the buying exeTted considerable effect a,
the price OF the stock Morning selling OF Atehl
son and Erie followed attack on these issus.
in London but the character of the operations MA,
~ fropr md III Lad fof
dation Specialists in American Smelling gave thai
stock good support Traders reported little new
buying a result Of the covering OF shorts
throughout the list in the second hour. though
there fair amount of interest in St. Paul and
the Hill shares from prominent houses Traders
took advantage Of the rally to put out new lines
OF shorts particularly in the high priced stocks
and Atchison and Erie. London curb brokers sold
after the close Of the London exchange A. H.
Combs a heavy seller OF Union Pacific on the
advance. and II was reported that some Of his
orders we're from A. o. Brown & Co. American
Smelters is being accumulated by the Guggenhelrn
following on all reactions. while traders find the
stock profitable speculation. as It gives quick
movement and good returns to operators who can
follow the market closely. No especial interest
was exhibited in speculative circles over the BE-
ginning Of trading in stocks on the Produce Ex-
change and operations were without effect on the
curb dealings. In the last hour the Stock Ex-
change markets technical position appeared 20
have suffered from the failure of the attempt 70
rally prices Traders who covered shorts to even
up on the day reported that the market was full
OF stocks. There were plenty OF stop loss orders
and selling by some prominent houses near the
close was considered bad sign.
MOVEMENT OF MOSEY.-In the operations
with the Sub-Treasury the banks are starting the
week well. showing gain Of SsSs.o,O since Friday,
compared with a gain of $4,000 in the correspond
ing period last week The flow OF money from the
hank aho fu1f
fleets chiefly disbursements Of pension funds and
the payment by the government for the carrying OF
the mails. There is not much more activity than
has prevailed for some time in mercantile paper.
The best grades are quoted at to So per cent,
the market holding pretty firm. notwithstanding
the decline in time rates within the last ten
days. Offerings OF short term corporation notes
have. of course tended TO restrict the demand for
mercantile paper
UNITED STATES STEEL COMMON DTvID-
END-A Pittsburg dispatch says that IN certain
quarters where a few weeks ago much conhdencs
was expressed in an increase in the United States
Steel common dividend. this months views have
undergone change. and there is just much
hdence that the dividend will remain unchanged
at oEe-half OF 1 per cent. Commenting upon this
shifting OF opinion. man in position 70 know what
he is talking about said: Il not believe the rate
will be definitely decided until the door has closed
upon the meeting OF the board OF directors on tbs
esth of this month"; In quarters It IS believed
that if business continues good the dividend will
be increased in July.
BATOPILAS MINING.-ApplicatiOn has been
made to the stock Exchange to list the stock Of
the Batopilas Mining Company, and II IS likely
that # will be admitted TO quotation at the next
meeting Of the committee securities. a week
from "Wednesday The annual meeting OF the com
pany will be held to-day at No. A. Broadway Ad-
vices from Batopilss report Yield for last week
OF 9SO0O ounces and encouraging prospects On eX-
pIoration work. An interesting exhibit OF Batopi-
las ore is on view at the Office OF Zimmerman &
Forshay The KnckerbOcker Trust Company mas
been appointed transfer agent OF the company.
BOSTON COPPER OPINION.-A we'll informed
Boston copper interest SAYS there IS not copper
stock listed on the Boston exchange that would
not pay it's present rate OF dividends with the
metal selling at Is cents pound He adds that
he dogs not believe there is any chance OF ma
teriaI break in the price OF copper IN the near
future.
INVESTMENT ORDERS Banking houses that
make a speciality of investment orders reported
some revival OF buying for this account IN yester
days decline. but they found no widespread ds-
mand. such es developed following the break n
the March market. Speculative operations tor pun
lie account We're unimpOrtant.
BANK OF ENGLAND GETS GOLD--Ths Bank
OF England secured all the gold Offering IN 'hs
open market in London yesterday amounting 70
100000 representing South African gold and II asO
bought $4,000 in gold from other sources ts dEs
count from to So per cent
PIG IRON CERTIFICATES.-Pig iron certificates
Mt the New York Produce Exchange to-day were
dull and unchanged. There were no sales Prices
for standard foundry follow: Cash. & 30 SiJ SJ.
April Ssassi 5O MAY, So . bid; June 81 = os s
July $5id$I 75: August. S2l8$2l 80; september ~
GS2l: October. Sl asked
DIVIDEND DECLARED.-Dtrectors OF me Iul.S'
states Fxpressr Company have declared the regular
sSmI-annual dividend of 81 a share, payable OH
May l.. -,,r,
James N1cCrea president OF the Pennsy wanna