New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-12-15
WALL STREET AND EXCHANGES.

upward $1,000 shares in the local market, selling
heavily on balance. In the London market prices
were generally heavy. without material change.
Paris a good buyer Of the Kafir stocks. There
change in discount rates in Paris or Lon
don but in Berlin there a fractional advance.
Paris exchange on London was higher. while Berlin
exchange London declined.
THE CUBAN LOAN A SUCCESSIVE payment
Of a IS per cent dividend the underwriting of
the Cuban SS5, 100000 per cent loan closes one of
the most successful underwriting ventures of the
kind in recent years. The bonds quoted
around lG212. They inactive, and appear to have
gone to the most conservative class Of investors.
The underwriting was distributed by Speyer & Co.
and Harvey Fisk Sons. at about IS, in May, 1904,
so that the dividend is really for six months
participation without any cash paid in. The un-
derwriting was oversuoscribed six times Sub
scriptionS were closed opened and those
who came late got nothing. The bonds are $50
100000 per forty year bonds, paying interest
in March and September. They are secured by 10
per cent of the customs receipts. which run about
SIS 100000 a year. In addition. the government OF
Cuba agrees to meet all deficiencies sinking
fund of 81 100000 year begins April TO- 1870 and
will be used to retire the bonds par and interest
The only prior loan recognized by the Cuban gov
eminent is an issue OF g 600 OF 1886 The 5s
are therefore. practically prior lien the gov
eminent revenues.
ANACONDA-In yesterdays market Anaconda
stock declined to 49, as compared with los on the
and pays fair dividends. and Is selling under many
Boston mining shares which have not the record
of Anaconda as dividend payers. The par value or
Anaconda stock is So. which represents price
slightly under the par value OF the issue at yes
terday's quotation Anaconda is probably the
greatest copper producing mine in the worIu.
Forty per cent Of the stock is owned by the Anal
gamated company. while it is said that 1t has prac-
tcaly control Of 10 per cent.
PIG IRON CERTIFICATES-Busine in pig
/ +I,a YOT
was dull and quotations were lower. There were
! no sales Prices on the call were: Cash. 81 Dc
| cember $l7QS17 90: January February MaFch ana
April ST lOq$7 90 May, ST 20g$l7 as June and July
81 10asl7 go On the second call business continued
durl There were no sales. Closing prices follow:
| Cash and December, 81: January, February and
March s7 1OGs17 40 April SIT 2O9$7 10; May, ST log
| S7 60; June, 81 10g$l7 90 July, Sl1 logSlI o.
| nO1TCI.As COPPER DEALT IN.-The Douglas
| conner Company. the stock of which was dealt in
| IN the curb for the first time yesterday IL IS
oNsctalIv announced owns mines and works lncIuo-
! ing the Anita Copper Mines Company aI Cocoi
Sonora. Mexico. and other property corslsalls u
| ranches coal and timber lands. The capltaLZat4oh
&c e 600 900 in shares of the par OF 20 Inc miner al
| 80 - +ha oornnany aaeregate 494 acres and It
has total holdings of 49, 100 acres OF Iano IN Vhe
| Paroyeca district The president OF me coIIp
| Ubaodore Douglas is well known mining engineer
| Who has spent most of his time IN the last SIX
years in Mexico Sales OF the stock were maze at
| 6Ia 10 SIS
! ILLINOIS CENTRAL PRoSPERoUs-Early in
| January the Illinois Central directors meet 10 de-
clare the one hundredth semi-annual cash dlVldelu
| on the stock OF that company. For nlty years.
utthout a break the Illinois Central VIII then nave
| paid cash dividends averaging over per cent per
annum not taking into account the valuable rights
| which the company has from time 10 Tune gwen 70
| its stockholders.
| COPPER PRICES LOWER.-Copper prices have
| once more been reduced one-eighth OF cent a
no,nd Lake copper is selling at l4A cents. electro
lytic at l45s cents and casting at l41R cents THIS
I. the second cut this week These prices are hVe-
o,qbtbs of p cent a pound below those OF ten days
| ago The decline In prices IS due to heavy selling
OF speculative holdings and the withdrawal or lead
tng consumers from the market because of the I'M
| settlement which the break in security prices has
| caused throughout the copper trade
| CorD EXPORTS.-Gold coin TO the amount Of
| q GO oOO was engaged yesterday for shipment TO
| germany to-day by Goldman. Sachs & Co. The
| withdrawal of coin made possible through a
| further advance in foreign exchange rates. 1t is
g.nerallv understood that New-York will be called
| on 10 make further shipments OF the metal before
| the end OF the month
| VANDERBILT RAIL ORDER-The Vanderbilt
interests will order, II is said about 10000 tons Of
steel rails the coming year The normal sched-
ule for New-York Central proper is about one-half
| Of this amount The assumption therefore. is that
| the entire rail requirements Of all the Vanderbilt
roads are 30 be covered by a single order OF which
about one-half goes 10 the New-York Central and
The remainder to the other Vanderbilt roads.
HIGHER PRICES FOR LIGHT RAILs.-The
United States Steel Corporation has advanced the
price of light steel rails OF 6 pounds from so a
ton to s25 ton. The price OF rails OF from Is
30 pounds has also been advanced from 81 to s24
a ton Additional advances are looked for by the
| year.
MEXICAN CENTRAL-Mexican Central acted
well and was in demand from good sources. 1t is
/ said that the traffic arrangement among the Next
can roads is likely 10 be renewed in permanent