New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-05-07
TOPICS OF THE STREET

fh0
market; and the absence of an active French a.
mand encouraged the view that the tnc,,,- -
Paris was about over. The strength In New yo~,-
exchange on London is helping the foreign ma
kets, and in London circles talk OF gold innort.
from this side of the ocean is heard
MARKET GOSSIP.-IDterests Identified ,v,.t a.,
Amalgamated Copper Company believe that tbs
price of the security Is cheap its current Ia,1
and as a consequence they are buying II an -,
reactions to hold for better figures II is noi,,as
out 1t pays per cent and returns more than tb..
amount and market observers ara co,-
ing II with American Smelling as a mora 49,,
ing purchase, as the latter pays l per cent -
than Amalgamated and yet is selling 40 notr+
higher. American Smelling stock is more cIosal
held than Amalgamated. and as there "a 81
s5oooOOOo of it against s15,OOO 200 OF AmaIgauata5
it is an matter for the insiders to advance q
while in Amalgamated there appears to be AnousL
of the stock floating about to be thrown on The
market wherever there is a tendency to advance
It, Commission houses were practically out OF the
market yesterday as far public account was
concerned. but firms that often handle Standard
OIL business We're conspicuous in the dealings in
Union Pacific and Reading. The latter stock at
present is the most actively manipulated issue on
the list and the fact that it's dealings and those
IN Union Pacific make up large proportion OF
the daily business strengthens the Street impress
sion that the large interests in the two proper
ties bringing the stockhoIding control Of tia
waiting for stocks develop a definite ACTIVE
trend are turning their attention to cotton and
wheat, and there appears 70 be soma reason 70
believe that for time, at least. the chief inter
est In Wall Street will centred on the grain ard
cotton markets. It is common knowledge that a
big bull pool has been formed In cotton and thar
Theodore Fl. Price IS one OF the leaders IN f.
Among the best buyers OF Union Pacific on the
afternoon decline was c. D. Barnes & Co. c. G.
Gates & Co sold. and H Content. who bought the
stock in the morning. also sold in the afternoon.
MOVEMENT OF MONEY-LocaI banks lost
$4,000 TO the government yesterday on routine
operations. which makes a net drain OF S5s3.Go0
since Friday. The days government statement
shows that out-of-town banks have put up S4ssi-
800 additional state, municipal and railroad bonds
during the week in pledge for public deposits
This would 10 show that the Treasury is
still depositing customs revenue at out-of-town
points. although the movement has apparently
subsidized here Within the last month the Treas
ury has placed $4,000 additional deposits with
the national banks. the account standing now al
s16s14A6 OF this the local repositories hold ST.
626OO0. Domestic exchange yesterday New York
generally a premium
MANHATTAN TRANSMITS active buying %
Manhattan Transit stock on the curb again gave
rise to the reports that Consolidated Gas and New
York Central interests buying. The Long
Acre Electric Light and Power Company. which
is controlled by the Manhattan Transit Company.
Il
son Company. which is controlled by Consolidated
people. and the Street has the idea that in order
to offset this, and TO secure an interest in the
Manhattan. Transit Company's valuable franchises
and charter Standard Oil interests who own the
Consolidated Company are buying Transit stock.
New York Central. it IS said. could use the Long
Acre Electric Light and Power Company in con-
nection with its identification plans.
Bids are being received by the Long Acre EIec-
trio Light and Power Company for apparatus 70
be installed in its plant plans for which are being
rapidly pushed forward. \ contract has been lsr
for the largest Wilkinson steam turbine ever built
which is to be Installed in the power plant OF the
company.
GOLD EXPORT TAILK.-The strength IN sterling
exchange has resulted IN discussion OF gold exports
in financial circles and It Is tntinated by soma
prominent international bankers thar under exist
ing conditions exports OF gold from New York 70
Paris may soon become probability. On the other
hand. there IS expectation that there may now
making enough exchange 60 prevent outflow OF
the yellow metal from this country. has been tbs
case IN similar preceding contingencies.
OPINION ON CRoPS,-F. P. Frazier OF Bartlett.
Frazier s Darlington, says regarding the crop
situation:
April has passed and vesetation Is further ed
yanced than five weeks ago. We still having
frost and Ice almost every night throughout the
plant is stunted great part OF It IS winter killed
and the green bug has almost entirely destroyed
the crops OF Kansas and Nebraska The average
condition OF the crop at present IS not over IS per
much further reduction. The spring wheat siJua-
late sown wheat is apt TO mean a Disappointing
yield Conditions abroad not much better
age crop. Stocks OF corn are light and the move
nent from the country is moderate. With normal
conditions the acreage planted Will be the largest
ever known. Oats in strong position. the
crop IS backward. and mach e1 IL has mad IN 10
resown The present outlook is for a corst.ge-5niv
less acreage and smaller crop than last year.
CARNEGIE TRUST COMPANY IN NEW OF
FTCES.-The Carnegie Trust Company took possess
sion OF its new quarters yesterday in the United
States Realty Building. No. II5 Broadway. The
company started in business on january l. and on
March 1 it's deposits amounted TO SlS0a6o on
May they We're s. SEQ 0a0. The banking offices viii
occupy One-half OF the ground foor OF the building
while the vaults viii be Installed in the basement
and suh-bassment.
FAIRMONT coal. COMPANY.-Pottsr Croa.s
& Prentice. Hanover Bank Building this CITY are
Offering at 81 $4,000 OF 10000 issue OF tvo-year
per cent notes. due March Is 1893 OF the Fsfr-
mont Coal Company The issue is secured By
SD0OOO collateral composed of 81 100000 Car Trusts
81 100000 first mortgage per cent bonds OF under
lying companies. the balance being preferred and
common stocks The combined net earnings behind
the collateral amount 70 fourteen times the in
terest charges the notes. All but the Ss5l03
now offered has been sold
DIVIDENDS DECLARED-The directors Of tho
Quincy Mining Company have declared The regular
quarterly dividend OF 81 so a share. The Lahiga
Coal and Navigation Company has declared the
regular semi-annual dividend OF per cent payabls
May q The Pttsburg. Bessemer s. Lake Erie
Railroad Company has declared the regular semi
annual dividend Of per cent the preferred.
payable June l. The Federal Sugar Refining Com
pany has declared dividend Of $ a share on the
preferred stock. payable May :.
PIG IRON CERTIFICATES iron certi-
Gates at the New York Produce EXCHANGE were dull