New-York tribune., 1907-05-26
TOPICS OF THE STREET.

FOREIGN TRADINC.-Foreign houses not
active factors in the local market their operations
being confined to evening up over the end OF the
week. In London the general market quiet
and steady, with fair investment inquiry re-
ported The mining stocks improved on the report
that the Rand strike had collapsed Money was
in fair demand. and fair amount was borrowed
from the Bank of England. Bills were quoted at
51s per cent for short dates. The strong French
demand for gold is still the most important factor
In the London money market.
MARKET OPINIONs.-views the market by
leading houses follow:
T A. Mcintyre & Co. say The situation and out
tUH oOes not warrant the expectation OF the early
have T. b.e chapman app Co say General conditions
coming more evident that there exists here among
Gege Of houses and large room traders short
aS a. O. Brown Brown Co say: The ease in call money
commission houses generally are not carrying very
heavy lines From this it may be inferred that
t BasgGt Co. say EVERY one II, in Wall
While we do not pretend to onote the lowest prices
at which good stocks be bought. nor even dis
the belief hat the standard dividend paying 5 % STOCKS
proves pTose " G9rg ba
H. L. II Horton Co say: There are plenty OF eyl-
the rally Will continue until many of these sales
Watson & Co. say: The stock market is at pres
ent an uncertain affair at best; good stocks are
think they VIII yet Be able T to Bay to better ad
vantage. Professionally basng their pessinlism
left in control TO do their worst, but have far
range s around present PreEang levels
Marshall, Spader & Co. say: Interest IN the mar
Of the larger interests IS soanned such eto5ts
test Of its capacity to absorb distribution.
Grannis G. Lawrence say: Some students OF price
oaed the the sHs S IS
eT n c ogehed @ ERA n aeT eG fP PanSy c de-
very graduai recovery is expected -
change our views that stocks are going lower in
the long run and believe all strong places should
be taken advantage of to sell
Harris. winthrop & Co say There was talk of
Street took heart at the prospects Of a good bank
statement and a generally higher stock market
has come in the crop situation the Inundated con,
short interest seem to us to argue in favor of a
further recovery in stocks. a general short coy
vel9ps it may carry prices up rapidly.
stock market is for moderate fluctuations. Possibly
the general tendency will be downward especially
pronounced declines are almost certain to bring
last few days
RULING ON GENERAL IELECTRIC.-Referring
TO the notification received from tho General Elec-
tric Company. the committee on securities rules
that all transactions in the stock OF that company
made on June %. except for cash" shall be "ex
rights" Certificates delivered after June 20 for
all contracts made prior 10 June 90 or for unsettled
cash" transactions Of June 90 must be received
under the following rules (Section 2 Article XXX1I
OF the constitution: when a security is sold be-
fore the day OF closing books for rights land is
quoted 'ex rights that day. and Is delivered
thereafter. the buyer shall its delivery pay only
the market price Of the security 'ex rights He
shall pay the balance due on the contract, when
the seller delivers the rights at any time
before the day set by the committee securities
for settlement OF contracts in rights When a
security IS loaned before tho day of closing books
for rights (and s quoted rights on that day)
and s returned thereafter. the lender shall It's
delivery pay only the market price OF the security
'ex rights He shall pay the balance due on the
contract when the borrower delivers the rights.
at any time or before the day set by the
mittee securities for settlement OF contracts IN
rights" Sales Of "rights' made and after to-
day. except transactions made specifically for
cash" be settled July L: Transactions
in rights" and after July IL he for cash"
regular way" The right to subscribe terni-
mates on July 90
DIVIDEND DECLARED. Tho directors OF tho
City and Suburban Homes Company have declared
a semi-annual dividend OF 2I3 per cent. payable
June {. The regular quarterly dividend OF 2I4 per
cent on Delaware & Hudson stock will he paid June
10 The United Bank Note Corporation has declared
the regular quarterly dividend OF N per on
the preferred stock, payable July l. The Columbus
Gas Company has declared the regular quarterly
dividend of Ia cent the preferred stock.
payable July l. The Boston & Lowell Railroad has
declared the regular semi-annual dividend OF per
cent. payable July . The Chattanooga Railways
Company has declared the regular quarterly divi-
dend of IL per cent the preferred payable June
J. The st. Louis & San Francisco Railroad Com
pany has declared the regular quarterly dividend OF
per cent on its first preferred stock. payable July
STOCK EXCHANGE NEWS. - Memberships
transferred-Frank NJ. Dick to Evans r. Dick; DIolx
Bros. 81 Co. No 80 Broad street. Andrew b. Graves
TO Robert l.. Smiley: c. w. MacQuod & Co. No 80
Broadway. W +. McCauley TO Fred NJ Stein:
Simon Borg & Co. No. 20 Nassau street Branch
ofices-H. Content & Co. (new) West End N j.
resident partner Charles Minzeshelmer & Co
(new) West End, y. ]; Charles d. Bernheimer
manager. Fisk & Robinson new. Chicago: c.
Frederick Chids manager. Fred Dorr (new),
Butte, Mont; Carl Wakelee and Howard Throck-
morton, managers Lawrence Perrin & Co. Hotel
Belvedere, Baltimore; Donneu Swan manager
RECORD ORDER FOR ELECTRIC GENERA
TORS.-The United States Stael CORPORATION has
placed an order with the As-Chamers Company
of Milwaukee for thirtytwo gas engine driven cleo
trio generators, aggregatng 5000 kilo watts This
is the largest order for alternating current gem
orators ever placed by interest with any manu-
facturer OF electrical apparatus in this country OF
these engines sixteen will be installed in the now
plant at Gary, Ind. The other sixteen will be placed
in the Homestead plant. In the South Chicago and
Bayview plants and the American Steel and Wire
furnaces at Cleveland.
Chronicle" reports the total receipts OF cotton for
the week ended May "a 81 $50 bales against So SIG
bales in the preceding week. making the total re-
cepts since September 1906, 9434 bales against
30 bales for the period of 19051906, show
ing increase since September 1. 1906, of 20s4932
bales. Reports from the South Indicate that the
weather has been favorable during the week
fallen In most districts. but the precipita
ton has been light moderate a rule. Most
reports denote that the crop is doing better. but