New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-07-24
TOPICS OF THE STREET.

FOREIGN TRADE.-Foreign houses dealt q,
upward of 1900 shares in the local market SELL
ing 10000 shares balance The heaviest opera
tions were in the Hartman issues and United
States Steel. a good deal of the trading reportaJ
for foreign account represented a speculative Do
sitOn where stock was bought here TO sell in Lon
don and resold here when market deveIOuas
on the other side In London the general markas
was heavy. though closing steady. and late Quota
tions for American issues on the curb showed i'm
provement Money rates at the British capitaI
were easy. In the copper stocks selling pressl,rs
was reported both in London and Paris.
MARKET GOSSIP-Bears on the stock marka.
point out that prices have enjoyed material en-
hancement since the spring. and that in their
opinion most securities are not cheap at c1,rra1.
quotations There is something in this theory =,
the case of Reading, at least This stock paws A
per cent and IS selling above and it's chances
OF paying more than per cent are not good
enough warrant better price at present a
surprisingly poor market for Reading was one 80
the features of the early trading yesterday After
sale of 10O shares at 1888 the next sale, OF ION
shares was recorded at 1898. This makes trader.
beartsh Indicating that the stock is no longer
market leader. The bear party, therefore thinks :.
ought to sell down to the level of other stocks vitS
the dividend yield Some Of the heaviness \,
American Smelling was due to early selling nv "a
ward Sweet & Co. 1t is said the CIugran
helm following takes decidedly conservative.
view of the trade outlook. Without being exactIv
bearsh. they are quoted saying they do NOT 90,
their way ahead sufficiently far TO care about COM
ing into the market at present. Whatever I'm
pulses moved the market. the Venner suit against
j. j. Hill for an accounting or the Burlington prof
it's certainly did not A Upper & Co. war,
the heaviest Of the sellers OF Union Pacific in tba
early decline. They were helped by some seIin,
from London through Clark. Dodge & "a
and other houses with foreign connections. Trad.
the floor thought the stock sold was rather
we'll taken The old New Street crowd again \,
operating the short side. and IT is reported
that James r. Keene has formed big bear pooI
for operations against Reading and Union Paciaa
On the early decline IN United States Steel RI
Content was a heavy buyer. In the loan crowd ths
stock was oversold. Canadian Pacific has been
acting rather badly in the last few days and sons
with German names have
appearance. The stock. nevertheless is lending ~
a small premium. and traders consider it a dan.
gerous slOrt sale.
STOCK EXCHANGE LISTINGS.-The follovinv
securities have been listed on the New York Stoct
Exchange: An additional 1866 $50 OF the asserting
stock of the Westinghouse Electric and Mann
featuring Company making the total amount Usas
S21 .663 COO. Authority Is given TO add to the lis,
from time to time. but prior TO January l. yG
81 333 $50 additional asserting stock official ncts
that 1t has been paid for in full making the total
amount authorized to be listed &59s6.35)- An add.
tonal S,07sooo OF general mortgage per cent
bonds. due 1893 Of the Cleveland. Cincinnati. Chi
cago & St. Louis Railway Company, making the
total amount listed S22,S03O00. An additional 49,
OG0 OF River and Gulf division first mortgage uer
Iron Mountain & Southern Railway Company, max
ing the total amount listed S23343o0o.
THE COPPER sITUATION-It IS evident that
IN view Of the refusal OF many large consumers 70
buy copper the producing interests underest-
mate the available supply OF the metal in the
hands OF manufacturers. II cannot be denied
that there is very little demand for couper AT the
present time. There is a disposition the part
OF the buyers fight the present prices aggressive
w and II would not be surprising II some OF the
independenu prOdUcers-tL1ss not affiliated with
the United Metals Selling COUpany-ulade further
concessions in the hope OF attracting business
OTvTDFNDS DECLARED Dividends have been
declared as follows: Chattanooga Railways Com
pany regular h per cent on the preferred stock.
payable September I; National Glass Company
regular quarterly = per cent on the preferred
stock payable July 80. and American Ch-cle COM
pany regular monthly per cent on Us common,
payable August 20.
CENTRAL, NEW ENGLAND BONDHOLDERs.
Joseph Moore, IT., chairman OF the Philadelphia
holders OF Central New England general mortgage
income bonds announces the following COMMITTEES
as authorized at meeting OF bondholders: Will
lam H Cav. c. S ". Packard and Franklin ".
Potts Mr.. Moore IS not on the COMMITTEES, as he
Is on the eve OF departure for Europe on Two
months trip
NIPIssING STRIKE-Adv!ces from SUperintsnt-
ent Drum1nond Of Nipissing state that better con-
ditons prevail and that the strike IS pereri1s out
which compares with $50 before the beginning
OF the strike It is estimated by an officer Of the
company that the labor troubles have reduced
Nipissng's production for the last three weeks 81
about % or so per cent
SYNDICATE DISSOLvED.-It IS reported that
the syndicate organized IN october, 1895 70 under
write the collateral trust bonds issued n conlsc-
ton with the acquisition by the Iehigh Valley o.
the Coke Bros & Co. coal properties has been Dis
solved The total issue was $4,000, OF which
Coke Bros * Co took 100000 and TIE syrdi-
cate 5000 90 The syndicate IS understood 70 have
disposed OF about q per cent OF It's bonds.
MONEY MARKET CONDITIONS money
market a shade easier yesterday. without
special QuOtabls change IN rates Lighter pension
payments were reflected IN loss by the banks
on Suh-Treasury operations OF ScSr'O This re-
dUCed thu gain OF the local institutions from last
Friday 10 8, S4.oto In the same time week ago
the banks gained N925.oI0- The Slb-T-eaz-Iry was
debtor at the Clearing House FOR SSs3. as
MANCHCRIAN LOAN-CabIe dispatches report
that 81 per cent OF the South 3IarChurta1
Railway Company's loan, for which subscriptions
were closed yesterday, has been subscribed This
loan IS for ft0tO.Go0 and IS issued &c. Il runs
for period OF twenty-five years. az . per cen-,
but may be redeemed at the expiration OF ten
years at par.