New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-04-11
TOPICS OF THE STREET


IN 25oOO shares, buying slightly on baIaTo. ueal;
was the first time in more than weeI- 49, y
chases exceeded sales. About 2O0O0 49, el9-
American securities sold by foreign hol1o-- =
reach New York tomorrow. Il IS thou-t+ WI
sales OF this character are over for tbo - 'Aat
In the London market consols were bea,, [tssse1'
general market was firm. Money was $50. ens
cable dispatches Indicated that the BaDL - anu
land would reduce its minimum rate Of 7,.- -
to-day. The fOrtnightIy settlement on the LINT
exchange proceeded yesterday without dstu-,l
MARKET GOSSIP.-Investment hOusss q
last week have had a moderately active ds-,.-s
for railroad notes. and the ease with ,vni..
Erie notes have been disposed OF indIcs+o. " uia
there are plenty OF buyers for such iss,, .9e
IL suggests the probability OF Increase 4, 80
amount OF this sort OF security Offering in tn -
future. Railroad notes yield a good ro, N'-F
are about as safe form Of short time fnyos. aIa
as one can find. The Wabash new 49,.
nouneed yesterday already have in great No. eli-
placed with investors The proposed Delawar.
Hudsohs note issue may be put or for a IT,,
owing to the resignation as president oe +h -
pany OF Mr. Wilcox and the election OF Mr. -
as ms successor, but it is considered ONLY q
OF a snort time when the company VIII he il -.
market for funds. The Delaware & I4u5soD a,
good property and the fact that IL now ba. a. "a
mead trained railroad man insures its sec,,ri+,.-
greater popularity IN the Street A rsao.,t- =
fha
yesterday The cOmpany's annual meeting viii -
held In May, and there is possibility Of III -
ton at that time OF several new directors 49,
senting the progressive type Of railroad rnao.
ment The rise in American Can issues vs.ta-s-
was, accompanied by the report that the diractor.
We're considering plan TO pay of a part OF thu
back dividends the preferred stock bur ~
moveuent OF the stock which was enrinaer.a -
the so-cated Moore crowd. did not attract r,u.k
of following. Flower & Co and J. s F3acro =
Co were active in Dstillers Securities. ana ~.
course OF the issue attracted considerable attsu-
HON. owing 10 the character OF the houses interest,
cd in it, The general market is now v-ithor+ H.
support Of big short interest. and it is a vote
worthy fact that pressure from the room slerners
brings out little stock declines tending 10 Iarroy
speculation rather than inducing liquidation Com
mission houses are conservativey buIIish a,lvisr7
sales on rallies and purchases declines but rsr-
onmending large margins and discrimination +,
the matter OF purchases. Southern Pacific bs,
been accumulated ever since the March break hr
prominent interests. and the big earnings OF the
road suggest the possibility OF another Hartman
dividend move-that is, an Increase in Southern
Pacifc's payments TO extent that would give
the stock quick move upward The road is earn.
ing much more than current dividends but rs
future IS not well enough assured 70 warrant
bigger dividend. II was said in a well Informed
quarter YESTERDAY that the United States Steel
common stock would be placed on per cent
basis in JUIy-
COPPER PRICEs-Posted prices for copper on
the Metal Exchange. which do not represent actual
transactions IN the metal. were reduced yesterday
and a report was circulated that interests who
are bearish on the copper stocks were more than
delighted with the exchanges quotations. The
public should not take as a guide these quotations
az representative Of the price at which copper IL
Sold though they may reflect tendencies. Copper ia
firmly held the prices that have been quoted BY.
the regular selling agencies and no decline Is ex-
pected at the moment, and even IL the metal should
go lower IL would have TO decline many points be-
fore earnings OF the copper companies. as compared
with last years results. would fall of materially,
inasmuch the 1896 big returns were based on
an average price OF about 19 cents pound Tor the
metal. against 25t4 cents at present
SECURITIES LISTED-The following securities
have been added 10 the Stock Exchange list: -Four
teenth Street Bank additional capital stock 70 the
amount OF $500 O0. making total listed 100000;
e2S 600 prior lien railway and land grant per cent
bonds making total listed SOe455oo, of the North
ern Pacific Railway Company; $4,000 additional
per cent cumulative preferred stock and S15o0
common stock. making tota! listed SS,l65,'dO pre-
ferred and s1s.53S,2OO common OF the Eastman
Kodak Company. $4,000 additional capital stock.
making total listed $4,000 COO. OF the Manila ElectTo
Railroad and Lighting Company.
DIVIDENDS OBSERVATION-DISCLOSURES have been
declared as follows: Pacific Coast Company reg
uIar quarterly Il. per cent on the first preferred.
IL per cent on the second preferred and IL per cent
on the common. American District Telegraph Com
pany, OF New Jersey, regular quarterly per cent.
payable on April -. American Caramel Company
regular quarterly IL per cent and extra half OF
I per cent ON the common. payable on May /
Homestake Mining Company regular monthly %
cents a share. payable on April 8.
PACIFIC COAST EARSINGS--Earuiugs o. tho
Pacific Coast Company for February amounted IN
gross 70 S39 493. Increase OF $685. and IN net to
Sol. SS-. an Increase OF S0.452. The company Is
sr.f]- "a -f-av,qo rffa hTF
II IS conservatively managed. and no change was
made in the dividends at the directors meeting
The common stock Is on a per cent
basis and is selling az s9i=. compared with high
price OF 1l2 last year
EVIDENCE OF INVESTMENT BCYING--AS an
illustration OF the improving credit OF Missouri.
Kansas & Texas Railroad Company, the transfer
books from April 70 April show that 4S0 shares
Of its preferred stock have been split up into frac
tionaI amounts for s65 small holders-an average or
only eighteen shares. The preferred stock % 'hs
company is rapidly passing into the hands OF "
vestOrs.
PIG IRON CERTIFTCATES.-Pig iron certificates
at the New York Produce Exchange were hrfn
and partly higher Following the call there was
sale or 1000 tons OF April standard foundry az
s,i5o Prices for standard foundry follow: Cash.
So % bid: April $2SQ$24 so: May and june. * . pa;
July s2iGS21 49, August, SO 5oGS21; SEPTEMBER W
QS21: October. SCI asked.
ERIE NOTES IN DENAND.-A dispatch rom
Boston says that the brokers' WHO l.1-luI0 80
Erie notes at that centre have sold all the notss
available and that a premium OF u per cent -
bid for them Boston and New England su0scrip-
tons 10 these notes it is said. viii run close 10
one-third OF the total
NEWHOUSE IN UNLISTED DEPARIMA-NI'-
The committee on unlisted securities OF the sroeN
exchange has admitted to quotation IN the IN
listed department 100000 capital stock par Vau'
80 =. ~ Ncev-bouse Mines and Shelters The
co,,ranv,s earnings for the half year ended Do
ceuber 81 show surplus OF SSI.siL
,,[SS-p,y- I7OEs NEW ORLEANS-LoCal banks