| Show F nanc a 1 and al alBY BY THO THOMAS L LS S C. C SHOTWELL New ew York May With With May wheat s selling elling at and porterhouse steak at only S 8 cents cent a n poun pound Wall al street argued today tOllay that stocks were not high enough Therefore some of or the curb specialties moved to a new high l level evel a and 01 all al of the tho standard Issues were held hell firm at or near nar record l prices Big operators are a bit timid about advancing the tho market shares because be because he- he cause causo the high price of ot wheat makes males tho the public bashful bashful Their idea Ilen Is that tha t the tho market should be hold held quiet for a afew afew few rew days days- to let tho the public accustom itself to the Idea that famine prices price s for or grain do not mean a l famine in food So Important has the wheat crop i income in h- come that several Wall al street firmI firm firms s have sent private experts expert to tho West Went WestOne 11 Ono One of tho the most tru trustworthy of ot thee thes I report that whilo the winter wh vit t crop will wil be bo under uner tho the normal M if-M the general yield outlook for tor all al kind s of or grain Is above normal normal This expert exper t believes that the government t soon to be bo Issued will wil reassure tl tin public and make it I clear that the Pr of wheat Is duo lue chiefly to the fact tac that tha t td the tho consumption ha has increased an and ant d there are arc to bo be very small smal stocks carried car ar ned ried over Following the high record that va a ama amade s ma made o In steel at 61 late in tho the after afternoon afternoon noon considerable realizing took piar but the tho market did not yield mot mom than fractionally except in some epe p Announcement b by the tho United Metal s Selling company that tha It had disposed dispose I sI If I of or moro more than pounds o of o f copper metal since May 1 had a toni toni- I effect on all al mining mining shares It I is un on unI understood un- un I that other selling agen agencies s shave ss have gone bone equally well wel and the salt sale so s of or copper for May are expected t to o break all al records Pro Production als also o will wf break records A boom s seems seem ems s starting in copper er stocks and it i Is Isled Isled s led by the shrInes shares on those companies companie se ss s that can produce at a low lois cost cost These Thes e stocks known n Ieno as the he porphyry coppers coppers coppers cop cop- pers were vere nil all al active and strong toda today y but as all al of ot thorn them thor are aro upon the cur curb be b marl market maritaL ot the stock list did not feel reel th the e confidence of ot their activity Amalga Amalgamated mated matel wa was strong at a 0 fractional advance ad ctrl fl- fl vance vanco and there Is apparent lq liquida liquidation ida tion Uon In the tho deep coppers to got get mone money y for buying the The buying movement in porphyry y coppers Is also responsible for muc much yh h of or the tho selling of or standard gold old shares share s such as Goldfield Goldfeld Consolidated Dividend Dividend Divi Divi- paying silver sl er stock of or the time Cobal Cobal t camp however are s so strongly fort fortl fort fort- i- i L fled nad with reserves and ana cash surpluses a that thc they aro are Increasing their number numbe r of or stockholders When hen dividend checks are sent on ou onon out outon t on June l 15 to the present stockholder s 's of ot the International Lead company official of of- announcement will wil accompany y them that tho the preferred will not noL b bo e retired on January 1 I 1 as rumored Al Although Although Although Al- Al though this rumor of or retirement originated originated In Chicago there seems to have hav e been something substantial behind it I. I i t et otherwise It ft would not be dignified d ds with wih on official denial The directors director s have havo o ha the rl right ht to tal take e the stock at a ts t any time after aCer next January It pays pay s 7 per cent and should be retired on a 5 per cent basis B By falling failing to act the tho directors neglect an opportunity t to o save yearly This would woul d mean 2 23 per cent upon the common commo n stock Lead Leall common turned hea heavy today a awell as aswell s well eH It might with tho directors refusing re refusing refusing re- re fusing to save a half hal a n million dol del lars There Is no moral obligation t to o the preferred stockholders not to retire re retire re- re tire tre their shares because tho the redemption redemption tion Uon privilege Is thoroughly thorough understood understood understood under under- stood and the tho stock is selling 20 points point s lower than It I would sell sel did the privilege privilege le lege e of ot retirement not exist Election Electon of J. J P. P Morgan Jr to succeed succeed suc- suc the late H. H H. H Ro Rogers ers as a director tor of the steel trust was not known until after business hours This election electon deetion elec dee tion ton of or a Morgan man to succeed a Standard Oil 01 representative suggests that pt the tho Rockefeller Interests havo have p been liquidating their steel atthe at nt tho the recent high record prices It I Is well wel known that the tho Morgan Interests have been tho the most aggressive purchasers purchasers purchasers pur pur- I chasers of or the stacIe stock I I In II ih the Street Number of or shares sold Bold tOda today 87 a year ear ago ngo P Par r value of ot bonds sold Bold today 3 3 toca a a. year ear ago Z Tho The regular quarterly quarter dividend of oC 1 11 1 per cent will viiI 11 be bo declared next month b by the North orth American company aeI ac ae- cording to a n director Stockholders of the American Beet Deet Sugar company held heid their annual meeting today and elected F. F Q Brown and M. M 1 tola S. S Burrill directors to succeed E. E M. M and J. J G. G who I retired The new d directors di- di directors I-I I rectors holders represent the tho minority stock- stock Hon Image f of ot Prices James ams A. A A Co bank bankers rs an and ad brokers 6 West Second South street furnIsh the tho received over their private sire I I II I H. H I L I Sales Atchison 1109 Am C F Soil 55 56 iOu Am Loco 2200 Anaconda J Cop Am BaIt Smelt and 94 93 n Ohio IH I 1148 2300 Brooklyn R It T lH Illinois Cent 79 78 78 1400 I 1461 Ut 1 16 1461 SOn Canadian Pac 1801 1000 New York Con Cen Cob Colo F anil I 1600 ant 08 Ches and Ohio Ohio 78 4 1 I D and Rio G 51 Erie Ho U Si 51 34 Consolidated Gas 34 I 1441 1433 Great 1138 1400 Nor 13 pfd Amal 14 1471 Cop 17 Sill 1 83 Mo 10 K and T 8 12 i 84 1700 Lou ti 1600 Lu and Nash 1381 1600 1381 National 1381 atonal Lead 86 Missouri Pc Pac 4 71 Nor 74 2300 ot Western 9 71 1 91 8 28 91 nt Northern Pac 1481 26 21 2 1300 Peoples Gas GaR 1171 ii N Y Ont Oat 1 11 1141 and V l 49 49 49 1000 Rock Island Iland 3 1341 1311 1 do Oi 31 31 1300 Rep Hep I 1 and S 01 2000 2 8 2600 South Pac ac 1231 1578 1 1221 Southern R fly I St Paul 31 31 5 31 Tennessee Cop OI 41 Union Pac 4 4 H 1500 I U S R Steel I 61 do rl 1 91 Utah Cop 62 52 I 19 51 Si 61 1 coo GOO I I Money Mone closed 1 HH per iter Total sales cont |
