New-York tribune., 1907-06-22
TOPICS OF THE STREET.


Hartman and Steel shares. In London eonsols
were heavy foreign bonds were weak and the
mining shares were down. Rio Tlnto issues were
again depressed Liquidation, apparently. was due
10 the approach Of the fOrtnightly settlement.
which begins next Tuesday Selling for Paris ac-
count in the London market has been heavy in the
last few days and considerable anxiety is felt
the Paris settlement at the end OF the month
Money firm at the British capital Bar gold
was down sd. AS much per cent was paid for
call funds. and discounts were higher AT S15-1S
the expectation of further gold withdrawals for
Egypt. On the Paris BoUrse prices were affected
by the grave situation that has developed IN the
South OF France
MARKET GOSSIP-The public may have tho
idea that the stock market is going out of busi-
ness but one of these days it will be found back
at the old stand. with prices jumping and brokers
overwor5ed in handling orders The market will
not remain dull all the time. but the prospects for
an ir mediate resumption of activity do not appear
bright Commission houses are frettns. and some
clerks growing nervous over the pcssioility OF
losing their places. Office ~ 5penses are not being
made, and as a consequence the greater number Of
brokers' Offices remind one Of place Just visited
by aitlICtion. Many brokers are lnclned 70 Do
unreasonable. expecting the public 10 supply them
with orders every minute in the working hours OF
the year If the public does not respond tne
broker takes its absence from the market as per-
sonal afront and he becomes iraSC1Dle ana an eN-
treneIy disagreeabe body 10 get along with.
There are jocular jnks on tap at present on
the Stock Exchange. Feverish excitement inci-
dent normal days is lying low No one KNOWS
when IL will reappear. and apparently no one
cares except the travellers in the sightseeing
wagons who come the financial community N
a
OF men gesticulatng like unto the resloenlS or
Wards Island The qUetness OF an old ladies'
home prevails on the exchange sentiment IS
bearish because no one viii buy Stocks ana oe-
cause Mr. Vanderlip thinks that prosperity Is in
danger Of collapse unless our legislators behave
themselves. The Street did not Ike the Frisco
bond issue plan the start, but when il studied
its terms IL accepted IL the best thing for ths
future of the property. An experienced trader On
the floor said yesterday that the only good buying
he could detect came from the shorts, and that
therefore he looked for further activity on the bear
side Of the market Lower prices would surprise
n one. though general conditions do not warrant
present cheap quotations. The heavy tone in New
York Central and Northwest was due 70 runors Ot
new financing by both companies western houses
were not active, but when they did anything ic
the buying side. Weather reports are so
much better from the crop section OF the country
that Western brokerage houses are far more bull
Ish than they few weeks ago With Lon
don and Paris after our gold. there IS not much
chance OF bull market for stocks, but the fact
that the United States is in position 70 supply
foreign centres with the metal indicates a strength
in financial conditions here that ought 10 I'll every
body with encouragement
DIVIDENDS Observation-Disclosures have been
declared follows; American Ice Securities Con-
pany. regular quarterly Ia per cent payable July
20: Nipisstng Mines Company, regular quarterly
per cent. payable July 20; Old Dominion Steamship
Company, regular semi-annual per cent payaois
July l; Proctor & Gamble, regular quarterly per
cent. payable July =; De Long Hook and Eys
Company regular quarterly 2iz per cent. payao.a
July |; Boston and Worcester Electric Company,
regular seni-annUal s. share; Library Bureau.
regular quarterly per cent the preferred. pay
abIa Julv /: National Surety Company. regular
Quarterly per cent payable July 7: Atlantic Cot
ton Mills regular serni-annuaI per cent. payable
TrIv / chatham National Bank. regular quarterly
4 per cent payable July /; National Park Bank.
regular quarterly per cent payable July !; Clei-
zens' National Bank. regular seml-annual s per
cent. payable July /
PASSING OF THE GATES.-The auditors who
have been at work the books OF the stock Ex-
change house of c. G. Gates & Co have COM
pleted their labors and the offices will be closed
within the next few days Not one OF the tVenty-
five hundred accounts Of the firm remains on ina
books. Two banking houses have been negotiating
for the offices occupied by c G. Gates & Co n
the Trinity Building c. G. Gates VIII in all pro6a-
bilitv retain his seat the New York Stock Ex-
change. and also continue as a member OF seveFaI
other important exchanges J. ". Gates and c. G.
Gates will sail for Europe about the ridle OF next
month
TEXAs & PACIFIC RAILWAY SELLS BONDS.
The Texas & Pacific Railway Company has places
with Blair * Co, on what are stated 20 De s2llS-
factory terms s. t0odt6 equipment bonds covering
box cars passenger ears and locomotives recently
purchased The company has also sold 70 the
same firm $4,000 louisiana Division branch lines
first mortgage bonds. The $4,000 equipment
bonds run for ten years. bear per cent interest
and mature at the rate OF ; per cent OF the total
amount every six months, The Louisiana Division
issued on account of reconstruction
GRAIN EXPORTS FOR THE WEEK-'Brat-
streets reports the exports OF grain for the Week
with comparisons. figures in bushels. as toIoWs:
Wheat hour included 2S50222. against SS70962 last
week r76o6o9 in this week last wear S9.S,- N -
and 434 in 1872. for the fiscal year l0lli2lS-,
contras,ed with 122 US964 in 195-o6 6l66o9s in lt-
O5 and 90 80 l9+ in l@l-e2 corn SSSSa- coIIpaVsa
with 7S3455 last week. 2s67 in This week year
ago and 1II9S=S in 1895 for the fiscal year. %
520Sl3. against 1o9SSo2 2sS in l@5-,o and ''0l0o N
la1i-05
STEFI. TRADE CONDITIONS-A canvass o. he
leading steel Companies reveals the fact that tas
demand for finished steel this week has been DISK
FOR this season OF the year. In structural steer
many fair sized orders have been placed steer
rails for delivery the year 1908 this week arnoENt-
cd to about 40OO tons. including about lSe" tons
by an independent company There Is a large tull
go IN rails pending which, IL placed wIth!n tas
Yext two weeks viii swell the total tonnage caiuAS
for delivery next year materially In hEht nateI4A
the demand has been good and 2hfad OF lIie Iv1I
sDor1ir- week cf last year. Specifications againsr
existiuc contracts have been exceptionally heavy.
- - r,irIs are taxed 20 the utmost Of ther
respective capacities
RANKS LOSE MONEY-The reported move.
r,en+s of currency this week show that the loC1.
hanks have lost III cash holding SS,sisNV- 4uss
gained the interior S9iSsVt ana IoSl - -.
Sub-'Treasurv Sl469ot1 Receipts OF new gold WeIs
:, 9g2 $40 Receipts were about 100000 less thaA
they were week ago, and the net gam On - -
interior movement was smaller than az TINS 80
I'm 1908 and 1905 From the known movement =.
money IN the week il is natural 20 assume tha'
there viii be an unfavorabIe bank statement To-
day.
REGULAR READING DIVIDENDS-As Tore
sbo6nv-e1 in The Tribune Yesterday, the Readihs
lirectors have declared the regular senli-annual
dividend Of , Per cent the common stock =
directors. II is understood were II a.,
of an advance. but the majority believed II woui
be unwse 70 make change AT this period desprS ds
the large earnings OF the company Reading S.0.
was weak before and after the announcement.
the dividend and Street talk indicated the SEM -
view that the issue ought as a per cent stocN
move 10 a lower level in view OF the prices -
which stocks OF q similar class are quoted
HAWAIIAN RAILROAD BOND ISSCE--LEs
stockholders of the Hio Railroad OF E4t E4W1- :, 5a
authorized bond issue OF A5o0'N or WIcL. ,11S ,a
00O will be used for refundtnS purposes 49, -
for the extension Of the road 20 Han'aAuA 'lU ~
remainder for further extensions -,
sEABOARD NATIONAL BANk-Jo@nn @ 3. ESs..aTIosri
NJ SG