New-York tribune., 1907-08-04
TOPICS OF THE STREET.


r-c,prTcE TRADIoG-The London market was
closed and foreign houses therefore were not fac
- n the local market Tomorrow is general
holiday in England and Wales, in which all banks
~ exchanges are closed 10y act of Parliament.
rre CAY Is OF the statutory bank holidays pro-
,ided under the Lubbock act To-day is merely a
holiday taken a the option of the London Stock
Exchange. Some other exchanges close voluntarily,
and there VIII be Liverpool cables on cotton and
grain. The usual banking and money market bust
ness IS transacted everywhere.
MARKET OPINIONS.-Opinions on the market
b. leading houses follow:
Henry CIevs < Co; IN the absence of unfa-
rorable developments prices may show occasional
rallies. but the general drift Of prices promises 10
be downward until the reaGjustment in the money
market and IN tht commodity markets has gone
fa- enough 10 warrant recovery The pendulum has
started TO swing in the opposite direction, and the
swing has evidently not yet been arrested
Bartlett. Frazier & Darlington: I.assitude and
6lluess are two prime requisites for this market
Il We want 10 be on good foundation in the fall
Marshall SDader & Co: We cannot at present
forecast sustained advance in the market based
on possible developments in the very future.
though The absence Of special causes for depres-
sion may permit a steadier market for a while.
Alfred Nestre * Co: We would recommend
The purchase Of stock except from reactions and
believe that the recovories from time TO time. until
underlying conditions change materially for the
better. VIII he only from 10 points.
r A Mcintyre & Co say we continue TO see
no ndEcemeut 10 load up with stocks. even at this
reGueed level from = week ago. from our point Of
View On The general situation The eAiCenCicS of
tae money situation the world over such as TO
h. without parallel At this season Of the year
II. I. Horton & Co. say: We consider the long
soc The Cre OF most promise and ould take ad-
1arraEe Of all reactions TO buy stocks. there
are scale orders that are supporting the market
every time il is weak"
Carpenter. HoEEot & Co. say: IF unforeseen i'm
rrovenent should occur in the money situation a
corresponding advance in quotations could occur
hIt al indications point Ia a less comfortable con
6tion This fall than last"
Grsnnis & Lawrence sag: Unless some entirely
-eU condition appears to change the periodic move
rne-r- should look for another low point in
-tree weeks. hut should expect he above the
present average This IS one reason why We do
rot expect again this year the low prices Of
this week. Another reason is that August is gen
orally q month of aoSancing stock prices"
WESTINGHOUSE ET.ECTRIC-The railway de
7,7~-rlerc E rhe Westinghouse Electric Company
showed record Tor orders bC nke6 in July approx
mating about 500 6t3- Among these were of
frrortar-e- The Brooklyn Rapid Transit Company
contracted for four hundred electric railway mo-
rors hundred of which. g 24a horsepower each.
Cor r7' elevated railroad cars while the balance.
of sa-ho~eepower each. viii be surface car equip
-7e-- The other large order comes from the
S--oa-@ Interests II Cincinnati which control
large urban and i75ergIrhan electric railway sys-
ten. operating cars N Eastern and Central Ohio
and southern Indiana
MOVEMENT or CoTToN-"The Financial
Chronicle" gives the total port receipts Of cotton
- the week ended August S95I bales against
sraa fa.es ~ -he preceding week making the total
receipts since September l. 1905 159 bales.
AGAINST rs hales for he same period Of 1906
shCRI-- ar increase since September :. 1895. ~
sar 81 bales Weather reports by telegraph from
-. South indicate that. while rain has fallen IN
NOS localities the last week The precipitation has
TIE whole bre0 moderate or light and in Texas
C-lvs are claimed 70 be beginning 20 suffer from
lack n moisture. Othcr districts make com
rla5r-- and some report Improvement in the crop
STOCK FEC-FI AcICEC NEWS Membership Trans
fe~-ed -Eoas~r n. .aCnev 70 John ". LapSleE, -
Howard T-arsleH & Co No. = Broad street Dlsso-
1r-.on ~ Parrnership-On July %. Henderson, Lind
T. d CO. New Partnerslips-Lin & Co, No.
To- Broadway. July - Allen L Lindley and Charles
A L5-GleE- Changes IN Firms f-llirEer Bros &
Co. OTTO R"s=ure-rH. retired Homer & Henderson.
Ar~h-r y. Howe. adTrr-od.
DLARER MONEY FEARED N BERLIN.-Ac-
co~6inc 70 advires received IN well informed quar-
r@rs here. German hanks and bankers are preQar-
ing to- dearar money on the Berlin market Cen
e-al fears. i Is said. entertained that the
money market IN Germany may assume very acute
proportions II the early autumn, and in preparing
Tor that eventualitv banks and bankers i appears
sre already approaching the French market for
long loans The announcement Of a ~ Per cent
Of interest by of the principal mortgage
hanks for the issue cf fresh mortgage bonds has
particularly affected the quotation Of similar bonds
with q Siz Per cent yield
BANK CIFA RINGS-Tte total bank Clea-inEs
cf The United States for the week ended August
Zone dsv s-rnared) 535-2=. against $3.50
s3sz- in the preceding week and S2.SI,l5s5[' Tor
The corresponding week of 1906