New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-12-01
WALL STREET AND EXCHANGES.

FOREIGN TRADING.-Foreign houses were
heavy sellers in the local market total sales
amounting to upward Of 1000 shares, of which the
greater part was supplied by United States Steel
common. In the London market there were no i'm
portant- changes In government bonds and home
rails. Money in good demand throughout the
day. In the American department prices. as a
rule, were weak. the chief decline being recorded
by the Steel issues The failure Of large outside
brokerage concern was accompanied by heavy SELL
ing In Steel common.
RAILROAD AND GOVERNMENT BONDs-Fisk
& Robinson. in their monthly bond circular, say:
The market for railroad bonds remains strong
and the investment demand is broad and active
The satisfactory outcome of the national election
the present policies Of the government the con-
tinued increase in railroad earnings and the conf
toward the strength Of the investment market
cation of the present. tendency Of funds to seek
investment corporate securities and the breadth
CT the demand is Indicated by the diversity in char
acter of the loans placed. These loans include such
as gY S ape nd
Trust S3zs. and Chicago; Rock Island and Pacific
TbeTe vas Tair denand ror 5s fpy circEIatio]
purposes and the supply was just about suicient
70 meet all requirements. with the result that at
Ideally unchanged Tho cali Of the Secretary Of
the Treasury on national banks for the return OF
fore January Is and Is per cent on before March
nevertheless. in view of special conditions. present
and prospective. bearing upon government bonds.
lower level of prices. One indication that many
banks hold to this view is that there has been prae
nicipa bonds held in the Treasury Department
the fact that the Secretary requested early in tbs
month that these should be Withdrawn, and gov
eminent. Philippine or Hawaiian bonds substi-
,utei therefor Government Is would doubtless
municipal issues now in the department. were
there confidence the Part of the hanks that the
former issue would rot recede somewhat from the
present level.
EQUIPMENT SHARES-The recovery IN the
market value of the shares of the three equipment
companies-Amercan Car and Foundry. American
Locomotive and Pressed Steel Cartoon the lowest
prices OF the 1S03-o4 depression has amounted 10
about r35 10000. This is equivalent about 6s per
cent. The recovery has not been marked az in the
Steel stocks and second IS. which amounted to
about So per cent The equipment stocks however
did not suffer large a decline. OF the equip
ment common stocks. American Locomotive com
mon has had the greatest appreciation in market
value. the gain being 20i per cent. Pressed Steel
Car common has the least gain. amounting TO only
81 per cent. The gain 'n Steel common equiva-
lent to 245 per cent.
COPPER CONSTITUTIONAL indication OF the
large increase in the consumption OF copper abroad
is presented in the figures showing the Imports at
English ports from January l 10 October 81
amounting TO 1858 tons compared with 1903 tons
in the same time in 1873. Imports from the United
States for the ten months of the calendar wear
amount TO a@.toi tors against 1926 tons IN the
preceding year.
PIG IRON CERTIFICATES AT PRODUCE Fly
CHANGE.-P!g iron certificates at the New-York
Produce Exchange were about 10 20 points lower
than The mai quotations of Tuesday. There were
sales OF ioo tons of May at ST so. Prices call
were November. 81; December 81 50 January
81 z5qsl7 40 February. sI7 35asl7 40; March and
April 81 BOAST So May. 81 45G$l7 50; July ST O5I
ga 'o' On Inc second call there were no sales and
prices were rover, as follows: November 81: De-
-i4'si' F'' - January, ST. 29Qr7 Soi February