New-York tribune., 1908-05-29
INVESTORS READ
The Wall Street Journal
TOPICS OF THE STREET.

FOREIGN TRADTNCs-ForeiEn houses were rot
active factors In the local market. buyins a few
was narrow but generally firm. being helped by
the reduction the Bank OF E.ngland's minimum
rate Of discount. Call money az the British capt-
tai was easy and open market discounts and tine
bills were lower Paris and Berlin exchange
London against the last named place There
IS some chance of reduction in the German bank
rate Monday
Du-NS CROP REPORT-Dfspat-hss 70 'Duu's
Review from branch Offices Of 2. q. Dun Co.
situated In the leading agricultural districts ind-
that the crops are making good progress al
though planting is still retarded at some points ~
rain. This factor and low temperature in other
sections tend to make the crops late. but as VET
there Is no evidence OF curtailed output About
the customary area Of land will have 70 -
repIanted because OF floods. adding To the cost ot
the crop, but not necessarily reducing the Eied
Most reports indicate that cotton Is growing we'll
Both winter and spring wheat states report favor
able progress. and harvesting Will soon begin N
the early districts There is less complaint Of IN
sects than at this time last year. Corn planting
is being pushed rapidly. but excessive moisture re-
tards progress at some points and the growth -
backward. on the whole. Many states report great
Improvement to the rainy Weather. and "a the
ground dries is especial pressure 70 get tho
crop under way owing to the attractive prices pre-
vaiifng Oats and hay in excellent condition.
nrasert prospects promising large yields Of both.
and the leading fruit CROPS are doing nicely
THE COPPER MARKET-There has been 10
buying Of copper yet by the large consumers for
future delivery. but indications are that huyins
movement of this character will be started before
the next two or three months The Westinghouse
and General Electric companies have very little
conner on hand and are expected to Law adii-
tionaI sr1nrIias IN the not far distant future Eec
trolytic copper Is being sold shade below the
quotations of last week One small lot was DIS
posed OF on Wednesday on a basis OF 12a.c pound
AMERICAN CAR AND FOUNDRY.-Ths direc-
tors OF the American Car and Foundry Company
will meet for dividend action next Tuesday The
regular preferred dividend Will be declared. but
there is considerable doubt over the declaration
the common. The common rate may be cut IN max
or passed entirely. The management Of the Amer
.Tvrl has
conservative in the matter of dividends and has
practised the policy OF not paying dividends when
business conditions have not warranted such ac-
ton
BANKS LOSE CASH-According TO the known
movement OF money I'm the week the local banks
have lost in cash S1o.612.50o. The banks received
from the interior S1f 923 500 and sent 20 the In
terror s5,233100- Receipts OF new gold were III
1884, 200. The loss on Sub-Treasury operations
600. Tho net gain from: the interior was much
heavier than in the preceding week These figures
based on the operations OF i've days
PIG IRON CONDITIONS.-Rogers. Brown & Co.
say that up the purchases OF pig iron have
been favorable in Buffalo. Ptttsburg, Chicago
and the Middle West generally than IN the New
York section, although good inquiry 1s being re-
ceived here. Most Of these inquiries are for de-
livery last Of year The buyers king 1o00-
ton lots instead OF 1VV-ton Iocs' as Iorlie-S' - -
week witnessed the best business that has been
done in a year. Prices for futures now a little
frnler: spot prices unchanged
BANK OF ENGLAND RATE LOvER-Ths
Bank Of England yesterday reduced It's minimum
rate OF discount to 2ig Per cent. This makes the
sixth reduction In the current year. The nrs-
was made in January from the per cent rate
established last fall A 2t2 per cent rate has not
been in effect since September. fq'5-
IOWA CENTRAL. SELLS EONI'S. The Iowa
Central Railway Company has sold S2-ioo.0o0 81 ts
first and refunding mortgage per cent bonds.
The greater part OF the floating debit has been eX-
tinsushed and there remains sIfciei.t cash IN tns
Company's treasury to HqUiGate tEa balance - rs
loans they mature.
APPLICATION To IISF--The Southern Rail-
way Company has applied To the New York Stock
Exchange list s20.t0O. 600 development and gen.
eral mortgage per cent bonds. due III 1930. -
series H
COLUMBIA TRUST CONPANY.-Ths Columbus
Trust Company OF this city has been appointed 20
certify 10 genuinenesS twelve issues O. tt-ts-
burg bonds aggreSatins sS,624.100-