New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-11-24
WALL STREET AND EXCHANGES.

L>OREICN TRADING-I~oreien houses dealt in
600 shares in the local market selling 2oEo on
balance. In London prices for all securities gen
eraIlv were lower. with especial weakness in the
.,.,ner shares on selling for Paris account It ap
near= likely that the heavy liquidation Of copper
shares by Paris reflects the conSested condition OF
thn Paris Bourse with Russian bonds. for which
there is no natural market and which must be
protected at ali costs
DETROIT UNITED BOND SALE.-A syndi-
oote under the management Of Kcan. Van Cort-
Iandt &. co has purchased from the Detroit United
Railway $500 600 OF its first consolidated mortgage
H. per cent thirtY-vear gold bonds. due January l.
1922 being part Of an Issue Of S25Gooo bonds
which will eventually be a first mortgage on the
entire pr0pertv Included In the syndicate are
Spever & Co. Kuhn Loeb &C. the Central trust
Company. the First National Bank. the Guaranty
Trust Cornpany, several foreign banking houses IN
Great Britain and on the Continent Of Europe and
some of the large financial institutions of the west
and Canada where the Detroit United property IS
well known The sale OF these bonds does not
involve any capital expenditure as I Is mace
for the purpose Of refunding $65S500 Detroit Clt-
zens' Street Railway first consolidated mortgage .
Nor cent gold bonds falling due Jus /, 1888, and TO
Iiquidate the floating debt
CHICAGO BURLINGTON AND QUINCY ILL
NOIS IS SOLD. z. Morgan < Co. have bought
s2oo0no00 OF the old Illinois division / oer cent
bonds from the Chicago, Burlington and quincy
Railroad Company of which SS500OOOO was origl-
naIIv authorized. The present purchase by !. p
Morgan & Co eXhausts the balance Of that issue
y is learned authority that an arrangement
will he completed in due time by which this
500 GO eco per cent bonds of the Illinois division
will be used to refund the amount of con-
soIidatcd first mortgage per cent bonds of the
Chicago. Burlington and Quincy which mature in
july 1900 The latter we're originally : per cent
issue but when they fell due last year We're eX-
tended, through J. +. Morgan " Co.. To lS1o. on
/ per cent basis.
INTERNATIONAL. PAPER-According 10 in
terests identified with the International Paper Com
pany. present indications forcshadov volume Of
business in the rest of the fiscal year which will
equal and possibly run ahead OF that OF last year
Tic company has been renewing its yearly contracts
wi.E the leading users % news papers. and, while
il has lost a few OF its Old customers through com
petition it has succeeded in making contracts with
concerns that hitherto have purchased elsewhere.
Rumors Of a dividend the common stock are
not indoreed by tho officers of the company.
GOLD ENPORTS.-Ciold 20 the amount of $4,000
i'm coin was engaged BY Goldman. Sachs K Co. for
shipment Europe. The National City Bank en-
gagged from tho Sub-rreasury. in exchange for
gold certificates s. 10000 gold coin for export to
Cuoa
MONEY FOR SAN FRANCIsCO-Thc Sub
Treasury transferred yesterday for local banks
81 500 GOO to san Francisc" This shipment is IN
connection with tho annual remittance for the
ORANGE crop. About tn" same amount was sent at
this time last year.
sentative Of the United States Steel Corporation he
demand for structural material is growing SO W.
gent that all structural mills idle will he placed
in operation IS soon as it is possible TO do So
GREENE COPPER RAISES DIVIDEND -Tha
Greene Consolidate ted Copper Company has declared
q dividend OF ! per on its capital stock n,vablo
December 2o The last dividend declared was . rsr
cent. in september
sULLY HEARING ADJOURNED The baar,,..
in the matter OF the creditors OF Daniel j. sully :