New-York tribune., 1908-05-02
TOPICS OF THE STREET.

NO LONDON MARKET.-There were no trans
actions for London account yesterday, the day
being q Stock Exchange holiday in London
BONDS AWARDED TO LOCAL HOUSES.-N
". Harris & Co. and Kountze Brothers were yes
terday awarded. 1Oi S9, their al-or-none bid.
the entire issue of s. l247O City Of Pittsburg 13o
year ~ per cent bonds. The syndicate headed by
r l. Day & Co. bid l04. .613 for the entire issue,
MOVEMENTS OF CURRENCY.-The reported
movements of currency this week indicate gain
IN cash held by the banks of S4,616Soo. They re-
ceIved from the interior S7 264 800 and to the
interior s. So 800 including 81 10000 national bank
notes sent Washington for redemption The
gain from the interior was &,4Ol,S0.
NEW STOCK EXCHANGE FIRM.-A new Stock
Exchange firm has been formed, under the name
OF r. H Fiero Co. consisting of Raymond H.
Fiero. who is a member of the Stock Exchange.
and Peter Fiero, and will occupy the once at No
. Broad street. formerly occupied by Britton &
Fiero. The branch Offices of the latter firm at
Albany and Saranac will be continued by the new
firm under the same management.
NEW YORK CENTRALS LARGE LIST.-The
number of stockholders Of the New York Central
& Hudson River Railroad Company on the books
on April 15 was 2.o9S comparing with 1915 on Oc-
tober Is, few days before the panic.
COPPER PRICES LOWER.-The New York
Metal Exchange has lowered its asking quotation
for all grades of copper Is cent pound lake now
being quoted l23s 12s4 cents, eiectroytc 12l2
TO 125s cents and casting 124 to 1895 cents. Sew
eral large producers and selling agencies are quot
ing copper at l2s cents and making sales at that
figure.
BOND DEPARTMENTS NEW QUARTERS
The bend department Of Chisholm & Chapman will
after Monday occupy the offices on the second
floor OF No. IS Wall street, formerly occupied by
J. L. Graham & Co.
MISS CHESS COTTON ESTIMATE.-Miss Giles
in report the cotton crop says that at present
there is contemplated increase of AZ per cent
in acreage. which percentage may be enlarged
within the next three weeks. Taking 100 per cent
a basis for last year. she estimates that the
preparation of the soil for planting operations is
15 per cent ahead Of the season of 1901
ADMITTED TO QUOTATION-The Central
Trust Companys certificates of deposit, stamped,
for the preferred and common stocks of the Chi
cago Union Traction Company have been admitted
10 quotation in the unlisted department of the
Stock Exchange.
MEXICAN MERGER PLAN SUCCESSFUL
The time for making deposits Of securities of the
Mexican Central and the National Railroad of
Mexico for exchange into securities of the new
company. under the plan for merging the two sys-
tens. expired yesterday, and the managers under
the plan say that the response from stockholders
has been very large. The bankers will await full
returns from all Of the depositaries, including
those in Europe. before deciding whether or not
further deposits viii he received
CONDITION OF TRADE.-Dun's Review says:
Sentiment greatly improved in financial cir
cles by the successful issue of railway bonds,
prices Of securities attaining the highest position
since last October. but mercantile and Industrial
conditions changed. The outlook for the
steel business frightened when it shown that
the railways could borrow money for needed work,
and the good progress of the crops promises well
for the future IN all branches of business In so
Tar as current conditions are concerned, however,
reports indicate small volume of trade and only
1sT coilectlois. Railway gross earnings in three
weeks OF April were 17.6 per smaller than last
year. but reduced expenses will make the net COM
parison more favorable. The number of idle freight
cars April 10 had increased to $1,000 most Of
the change since April l being in coal ears. For
eeign commerce al this port for the latest week
shows loss of s. $50 in exports and a decrease
Of Si5lS.+5o in imports. compared with the same
week Of 1897. Rates for money continued easy de-
spite more exports of gold and the announcement
of Treasury Withdrawals from the banks of s45-
0t0Gg0 by May q. Bank exchanges New York
were 255 per cent less than in the week last
year. while other leading cities the decrease
Although
improving in the primary textile markets there
IS little increase in the actual volume of business
confidence having not yet returned the extent
that causes preparation for future business on A
liberal scale
Brsdstreet's says: Weather conditions have been
unfsvorabe TO distributive trade this week and
a rather quiet trade is reported the country over
High winds, heavy rains, light and finally
very low temperatures menacing or actually dam
aging early fruits vegeta hes and cotton have been
features affecting farming operations and the
transaction Of the usual spring business. Iobhing
trade has remained quiet, with business confined
small flling-in orders. Fall business has shown
particular increase in activity, aud orders are
still scarce The disposition he to let
the 'iObber carry tho goods. and manufacturers
are likewise disinclined make up stocks ahead
Of orders. Collections still slow. and eXten-
sions asked for granted still feature
Thus far industrial output shows little or no dis
position expand. turtsment is still the feature
tn textile lines. ana some leading centres report
production - per off the normal Iron and
steel industries show little change from preceding
quiet conditions. except that talk Of price re-
ductions the crude branch is becoming
quotations