New-York tribune., 1901-12-29
WALL STREET AND EXCHANGES

FOREIGN TRADING.-Foreign operations
unusually active IN the local market for half
holiday business. Arbitrage houses dealt IN up
ward Of 200co shares. evenly divided. There
good demand for the Reading shares.
THE COTTON MOVEMENT.-Accordlng to "The
Financial Chronicle the total receipts OF cotton
FOR the week ended December q reached 299.256
bales against 292 433 bales in the week before and
800 $40 bales the previous week making the total
receipts since September l. 1901 4e0.179 bales.
against $3.50 667 bales for the period of 1900.
showing increase since September l. 1901. OF
1882 bales. Reports from the South indicate that
the weather has been more favorable as a rule
during tho week. Rain has fallen at most points,
but the whole the precipitation has been light
and the temperature has been higher. 1t Is stated
that the movement OF cotton to market has been
hindered 10 extent by bad roads, scarcity of
cars and the holidays.
ERIES EARNINGS AND SECURITTES.-Earn
ings OF the Erie Railroad for November showed
a gain in gross of S375695 and gain of SlS2
l2i. From July 1 gross earnings have increased
sGO7 $3.50 and earnings $40 SO. Erie securities
being taken by an excellent class OF buyers
and II Is believed that Erie common will be one
Of the leading market features In 1902. The Erie
4 per collateral bonds issued to finance tho
acquisition of the Pennsylvania Coal Company are
selling attractive basis for buyers. and as
the merits OF these issues unusually valuable
investment buying at ruling prices is advised.
UNITED STATES STEEL BONDS SOLD
There have been in the last week some important
sales of United States Steel Corporation 5 per
bonds. at prices said to be ia and over. One
block of 500 900 was taken by institution. None
large bond houses profess any knowledge
OF the rumored sale by Andrew Carnegie of the
$4,000 900 of these bonds which he offered to- the
United States as an endowment fund for "A higher
university.
BULL SENTIMENT-Operators were generally
bulsh yesterday and their attitude was backed by
prominent market interests. Russell Sage said that
the general tone OF the market indicated a sub
stantial rise In the new year. Regarding Man
haitian he said that the outlook promising.
while for Missouri Pacific Mr.. Sage expressed
unqualified bull sentiment
AMERICAN CAR AND FOUNDRY-The directors
| of American Car and Foundry will meet In St
Louis early In January to act dividend matters
The statement of earnings for the last quarter
! which Will be issued after the meeting is
held will make exceptionally good showing
! BANK CLEARINGS.-The total bank clearngs
OF all the clearing houses United States for
| the week ended December 2s were S1,sS41s7,l ,l4i
against $24s. 1885 in the preceding week and
$1.1s7 1898 the corresponding week last year.
BIG BOND PURCHASE.-The Sub-Treasury has
bought s2,50oO0 cent bonds of 1907, for which
paid 81 S22 155 $4,000 bonds of IS of 1925
for which paid $4,000.
NORTHERN PACTFIC'S EARNINGS-Earnngs
of the Northern Pacific in November increased in
gross 81 III, ,Js9 s625 57 From July gross
earnings have increased si333.O95 and net earnings
$. .699.O73
CHOSEN A MEMBER.-SamueI Sim. of thi.
city. has been elected membership in the Cot
ton Exchange.
EIGHTY THOUSAND DOLLARS FOR A SEAT
A second Stock EXC hange seat has been sold for
$4,000. the high record figure. The seller is Rich
ard NJ L. Walsh, but the name of the purchaser
who is not New-Yorker is withheld Mr. Walsh
has been a member of the Exchange since July
! 1875. and is known as the artist member" Not q
few paintings executed by him have been seen a.
art exhibitions in this city. He "A member OF
the National Arts Union and St. Nicholas clubs