New-York tribune., 1903-07-21
WALL STREET AND EXCHANGES.

FOREIGN TRADING.-Foreign houses dealt in
10000 shares in the local market. evenly distributed
London reported comparatively little business in
Americans, and the suspicion widespread that
whatever little business was being done was on
orders from this side The idea seemed to be
rather firmly entertained that it would take some
time to re-establsh confidence in New-York. and
that pending this. there was little incentive to
buy stocks. On the whole, however. the sentiment
rather confident.
STOCK LOAN QUOTATIONS-Loa quotations
were Amalgamated Copper, Anaconda American
Ice. Atchson common and preferred Brooklyn
Rapid Transit Baltimore and Ohio common. Colo
rado Fuel, Delaware and Hudson, Erie common,
first and second preferred Louisville and Nashville,
Manhattan. Missouri Pacific, New-York Central,
Norfolk and Western. Metropolitan Street Railway.
Peoples Gas. Reading first preferred. Rock Island.
St Paul Southern Railway preferred. Southern
Pacific, Sugar Refining. Tennessee C al and Iron.
Union Pacific common and preferred. United States
Steal common and preferred. United States Leather
preferred, Wabash preferred and Western Union.
per cent; Canadian Pacific, nat. and Pennsyl-
vania- 212 per cent
STOCK MARKET GOSsIP.-In the early after
noon the sharp decline In Brooklyn Rapid Transit
and Amalgamated Copper had an unfavorable ef-
feet the general list. which even the report that
negotiations for settlement OF the Pennsylvania
Gould difficulty were nearing successful outcome
cid not counteract. The comment the situation
was that the public had grown so unreasonably
pessimistic that almost any kind Of announce
nent would have little effect. There was some
little rally from the extreme low prices later
the covering of traders shorts There was some
liquidation in Sugar and traders sold the stock
the ground that, compared with other industrialG.
the investment return is rather small The second
hour was characterized by a succession of bear
drives, which seemed to meet comparatively little
resistance, and, though some people accepted the
theory that these drives were made to ia
ciitate short covering. others argued that their
success denoted weakness in the bull position. The
simultaneous weakness in Brooklyn Rapid Transit
Peoples Gas, New-York Air Brake, Amalgamated
Copper and Rock Island was thought in some quar-
ters TO reflect liquidation by some interest more
or less connected with all these issues. The rela-
tive strength in New-York Central was satisfac
tory feature, and was accepted as circumstantal
evidence of recent semi-ofcial reports of renewed
interest in the property by a very prominent capi-
taiist and railroad Reading and the hard
coalers generally showed fair resistance, and the
best trade authorities predicted that present pros
porous conditions in the anthracite industry
likely TO continue.
COPPER--A break in the price of lake copper
to below 13 cents would not surprise large pro-
ducers here. The selling agents have determined
to put the price to a level which will tempt the
consumers. 1t must be admitted that the recent
cuts have not brought in large orders as had
been expected. Lake and eectrolytic copper
be obtained from the strongest Interests at IS cents
although the open prices 1875 and 1872 cents
The weakness of the metal is believed here to be
accountable for the decline in Amalgamated
SOUTHWEST WILL HAVE GOOD CROPS
Officers of prominent Western railroads who have
been interviewed recently crop conditions in the
territory traversed by the lines of their companies
have uniformly stated that good crops are
promised. In some local sections damage has been
done TO crops. but they state
that the harvest viii show a large aggregate. B
F. Yoakum president of the St. Louis and San
Francisco Railroad Company who. has returned
from the Southwest. states positively that there
will be good crops in the Southwest. He says that
Kansas will have a wheat crop of from sOOOOOOO to
100 100000 bushels, Oklahoma and Indian Territory
about 100000 and Texas about 600 bushels
says that these facts alone the St. Louis
and San Francisco a good business for twelve
months to come All classes of general unerchan-
disc moving IN large quantities. and there are
signs of falling off in this kind of traffic.
SOUTHERN RAILWAY. - Earnings of the
Southern Railway for the second week in July
showed increase of SIS 424 over the same time
year ago. making for the two weeks OF the month
a gain Of $119.446
IAACKAWANNA'S DECLINE-The liquidation
Of a small account in Lackawann found a very
limited market, and the price dropped to the lowest
recorded in a long time.