The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1907-07-10

of the recent sharp advance in securi-
ties and the numerous engagements
which capitalists and bankers have to
meet to-day.
Payments will be made on new bond
issues to-day aggregating $23,00O00o.
Bankers expressed the opinion, how
ever, that no disturbance will be caus-
ed BY the $15,0OO,O00 due on the Union
Pacific convertibles and the $8,000,000
due on the Atchison. Wall street was
intensely interested yesterday to learn
whether or not the Union Pacific and
the Atchison shareholders would sub
scribe for the bonds offered.
The consensus Of opinion was that 5
per cent. Atchison bonds offered at par
would be taken by the shareholders Of
that company while the syndicate UNI
derwriting the Union Pacific per cent.
convertibles offered, at 80 would have
to take most of the issue.
The point of attack was Union Pa
citic. 1t was offered down 2 points on
rumors that the interstate commerce
commission would put in it's report to-
day. This was denied. It is apparent,
however, that the subscription to the
convertible bonds, as indicated above,
will be somewhat of frost.
The break in the copper stocks, with
the insistent selling of Amalgamated,
was on the reduction of one-half cent
per pound for all grades of copper,
with the virtual admission by the lead
ing producers that prices would be re-
au9asted on materially lower basis.
At % cents practically ali the Anal
gamated mines can realize net profit
of 10 cents pound, while Calumet and
Hecla's cost of production is Is to IA
cents under that at which it is now Of
fering copper.
Foreign markets closed generally
weak, with notable decline in copper
shares at the close. st. Paul was an
exception to the general weakness at
the close here, showing an advancing
tendency.
The weakness in Japanese bonds was
more pronounced than since the war
scare started. The as We're offered
down nearly point and the 4 1-2s
were off IL point. There has been some
liquidations of them by investors, who
do not like the situation. but interna-
tional banking houses have found a
ready demand for all bonds supplied.
The interview with Henry @. Frick
on the business situation was received
with general satisfaction. 1t was re-
garded as a conservative statement,
and that that finaneier predicted that
there would not be any serious set
back in business, had a reassuring eff
feet
The June gross of Great Northern in
creased $4,000, and the total for the
fiscal year gained S3,7OO,00O. The Bur
lington. gross for 1906-07 is $4,000, 900,
or $4,000, 600 above those of last year.
The ease of call money yesterday led
many to believe that Secretary Cortel-
you might grant postponement fol
the return of government funds
For June the lines In the New York
Central system, earned nearly $2,000,0 600
gross over last year. For six months
the gross gain is over $S,OO0,Ooo,
The continued break in stocks
brought forth a good deal of criticism
of Lawson for his wholesale advice tc
buy stocks.
The activity of certain Boston houses
8 that usually operate for Lawson sug-
gested profit taking by the prophet
Some brokers thought they could trace
sales of nearly $4,000 shares to his ac-
count this week