New-York tribune., 1904-10-30
WALL STREET AND EXCHANGES.

FOREIGN TRADING-Foreign houses dealt ac-
lively in the local market buying on balance. IN
while sentiment was extremely cheerful over the
outlook for satisfactory settlement OF the North
Sea incident Discount rates remained firm.
INCREASED 500" DIVIDEND.-It was learned
yesterday that 500 common being bought
by interests which are close enough the inside
to know that the stock will be placed on higher
dividend early 1905. 1t Is believed that the
rate will be advanced to per cent AS over so
per cent OF the stock is held by the Canadian Pa
cihc, the latter company will benefit largely from
an increased dividend distribution. In yesterdays
market $500 common gained Z. making net adj
for the week Of 81. points. and the preferred
lost point, net adva .ce for the week OF 1Z1a
points. Canadian Pacific advanced yesterday to
1sOTs net gain OF per cent.
MEXICAN RAILWAY PROGRESS-The state
ment Of the National Railroad Company Of Mexico
for September is additional evidence OF the In
creasing traffic the principal railroad systems OF
that republic The Mexican Central reported de-
IN gross earnings because OF the big washOut
near the upper end of its main line. but even with
that adverse condition the company was able to
report increase OF $4,000 In Its net earnings
for the month The National road escaped without
any serious washouts in September. and its state
nent for that month shows increase OF $50 90 in
gross earnings and an increase OF nearly SS5oO in
net earnings.
JERSEY CENTRALs DIvIDEND.-There IS ex-
cellent authority for the statement that the stock
be placed 10 per cent dividend basis as against
per cent at present In expectation Of this. in
siders have been picking up the shares. The point
Is made that Jersey Central. 8 per cent stock
selling at 1s5. is cheap in comparison with Lacka-
wanna, a z per cent stock which sold yesterday at
329-a return of a little over per cent, against
more than per for Jersey Central The
called First National Bank crowd is buying Jersey
Central stock
STOCK MARKET REcoRDs-Trausactions IN
400 ~
shares the largest volume Of business for any Sat-
urday in the history OF the Stock Exchange. with
the exception OF Saturday. April 90 1901. when the
total business amounted to 1.12SsS6 shares. Total
operations for the week amounted TO 92s5S shares.
the heaviest week of the year.
CANADIAN PACIFIC'S EARNINGS.-Earnings
Of the Canadian Pacific for the month OF Septem-
Der showed increase in gross OF s2SSS75. and an
increase IN net Of $50 $40. From July gross earn
ings have increased SOSs.4sS and net earnings
500. .495.
WIRE PRODUCTS.-New orders for wire prod
ucts in the month OF September estimated az
100000 tons. the best month the wire companies
have experienced in years. The present month
will also be satisfactory from the standpoint Of
orders.
BANK CLEARINGs-The total bank clearingsof
all clearing houses OF the United States for the
week ending October % s. 7Ss.42S549 against
81 S37 6lS In the preceding week and T94 sol 9S3
In the corresponding week last year.
A STOCK MARKET VIEW.-Charles G. Gates &
Co. say:
The week ends with very strong market. not
withstanding the shock 1t received during the week
from the Russian incident. Plentiful money, large
crops and improved iron and steel conditions still
the backbone to our market. and while not
enthusiastic after such rise this has been,
still look fOr somewhat higher prices all through
the list. Reading AtchisOn. Rock Isla2d. Ere and
Union Pacific appear to to be the best purchases
for the moment especially en- any small recess.oas.
The bank statement was hardly good had
hoped for. but II was not distinctly unfavorable.
1t seems quite probable that the shipments Of
funds for crop moving purposes over for this
season.