New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-08-09
TOPICS OF THE STREET.


active sellers in the local market. putting out M,
ward OF 5000 shares The heaviest Operations -
this account were In United states Steel and -
Hartman issues The sharp decline Of the Ias,
three DAVIS was responsible for genuine fors,ss
Iioridation In London the general marker r sa
heavy but American stocks. rallied on the rr-s
after the close OF the regular exchange Discouo.s
at the British capital We're strong at per ca,,
Toa,iIftv was reported toward American 5,a-~
bills The issue of 100000 treasury bills was ~
lotted at an average discount Of Sas per cent
MARKET GOSSIP.-Some Of the more importsD.
houses sent out bullish letters after the cIoss -
business but they did not advise buying for ~
than a turn except for investment account ~.
chief buying power in the days trading came fro-
the shorts but on the early decline there was -
MORT from Morgan houses which are generalIv -
posed to be in better financial condition than ~.
other interests in the Street 1t is generall- -
lieved the Hartman and Standard Oil ints-a..-
have been injured to a considerable extent m -
break of the last few days. and, as they were -
losers according TO common report in the Mr.
market. their position at the present time is SUP
posed TO be weak They are tied up with ras,
Of securities for which there is no market ar -
present time and they will be compelled to tass
back seat in market movements until they bsv.
been relieved Of their present burdens. T. A W..
Intyre, who has been consistently bearish Pa
number of weeks. advised his customers before -
o'clock that he did not want to sell stocks at II,
level then prevailing, and that there was rnou4v h.
buying the general list for a turn Rsvro,s
Pynchon & Co gave important support TO Az,
conda. and other active houses bought Aralgar1s..
TAB.
on the decline by strong interests. while the-a 1r.
good buying in the Hartman shares. heavy an
chases of Union Pacific being made IL was sais e.
Morgan interests One source Of relief % tha ~
Let was the fact that CIearins, House shsars 20.
through all right w B. Oliver. Q Ninzeshsi-,s.
and other active floor traders we're buyers !.
ArnaIgamated and American snel.ers and varor,
other issues their operations representing coysro
The foreign bull account in Missouri. Kansas >
Texas was compelled to sell some OF it's hold,-s,
I'm the London market before the local oue-Ts
har- s7Ya~,I
amount Of this stock but the chances OF b-f,-4s
about a bull movement IN It IN the face OF wsss
ness in other parts OF the list not promises,
Earnings Of the company are large. but the IDEA .
a dividend on the common IS not entertained /,
well informed quarters IL IS said a bear uova
rnent soon will begin in Colorado Southern m.
notorious gamblers who are trying TO bear De-
ware & Hudson are not likely % induce invss,-s-.
selling Of the stock The property is in first cla.
physical and financial condition. and under Tia -,
management its position as investment pravs-,
has improved materially II Is likely bear a-zrsz
will be made on various properties n the "a.
future.
TIME MONEY sTRONG-Tins money Va,
higher yesterday than at any time IN the Ia
year. Loans made at ~ per cent for thiry
days. advance Of One-quarter OF per cent owe,
Tuesdays closing Sixty-day money was raised
y per cent in the bid TO 81, and p per cent in
the asking rate. to per cent For ninecy days to
six months per cent bid and offerings were
extremely limited The market has got poin.
where loans are again. IN many cases. a matter
circumstances. rates depend upon the standing Of
the borrower. the position OF the lender,
available funds. and the Character OF the securities
offered collateral For the reasons mentioned
the quotations above given can be taken only a
a nominal Indication Of existing conditions in the
loan market
NEW YORK CENTRAL FzARSISGs-Earnings
Of the New York Central for the quarter ended
June 30 showed an increase n gross OF S555i5
and a decrease IN net OF S3l4.34S. After dividends
there was a balance OF $3.50. a decrease as COM
rf~-ea IN , V11s
of $50 a. For the fiscal year Sross earnings h-
creased 051s7o. and net earnings decreased 25l4.
$50. After dividends there was dehcit OF sz4-asA
And yet the company increased is dividend rata
TO per cent basis last January For the month
Of July gross earnings increased S-oaaos5-
CATION AGAINST OvERSELLING.-T A.
Mcintyre & Co have issued the following oIilsta
TO customers While are still beartsn and *
pectfng TO see ultimately lower prices y voua-
seem 10 be prudent 70 60 a little SLOW N selNns
stocks short after such a quick sharp oIeaA =
this list shows especially when everybody nov
seems 70 be bear1sh and expecting the 0o1oon u
drop out
NO CHANGE IN WELLS FARGO & Coat rs
annual meeting Of the stockholders OF We-.s ss-s'
q Co. held yesterday. the retiring board OK q.
rectors was reelected No opposition deveio2e1
from any source. The matter OF distributing Us
assets OF the company was not discussed Ia
board will organize later on
NOT To SELL, WESTERN MARYLAND RAIL
ROAD.-There is authority for the statement enA'
no plan is under consideration TO sell the Wes1s7a
MdrVIfld
the baltimore & Ohio and the Reading. II ~
been rumored from time 20 time recently that res-
tiations 70 that end were IN progress
ROUTINE COLORADO & SOUTHERN MEET 1T
INCA brief meeting OF the directors OF tne Coo'
RADIO & Southern Railway Company was he4a -,
terday, but an important member OF TIE 0oasl
said that only routine business was Iral-S-SI7-
1t is understood that the dividend question ~
come I'D at the regular meeting In SepteInoe'
The dividend on the preferred STOCK IS not P@'
able until october :
MONEY FOR THE INTETIOR-LOcal oanA'
transferred Yesterday 100000 70 ChicaSO and SA-
Gao 10 san Francisco Exchange az Chlcaso %
New York was 20 cents discount Inc oDeI~--I,
vas conducted through the Suo-Treas-TF an
marked the beginning OF the usual iale su1lH47'
ami fan movement OF currency 10 the interior
HARTMAN TO TAKE \ REST--Noyy thar -
5,,,t5sn5 meetings OF the Southern ard Unlon Re.
rfSc are out OF the way. E II Hartman suO- -
take his annual vacation. which VII lic--1s . ~
OF fnsDectiOn over the Hartman lines
COPPER PRICES DOWN.-CoPper prices On -
local metal exchange were reduced a cent PIN
YESTERDAY, but outside quotations remained u'
changed