New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-12-03


SIT: March s1s COAST. April s7Gsl7 TO- May sl7 lea
81 %: July ST. o5dS7 D. After the call 400 tons of
March sold at S17 and 200 tons of May were
sold at 81 90 on the second call business was
ouiet There were sales of 100 tons OF January at
ST. Quotations follow: December. SIC 75dsp; Janu-
ary sl6 s0asl7; February sl6 9OGS17 10: March.
SIC 95Gs17; April s17aH7 TO- May. 81 O51sl7 90 July
s7 O5asi7 % Following the second call there were
sales of 200 tons of March at ST. making the heaV-
lest days transactions since the market was
started
SOUTHERN PACIFIC-The Southern Pacih"
Company makes the following announcement to the
Stock Exchange:
BY appropriate vote Of the stockh9GsIs and di-
there was created an issue of slO0O0O0o preferred
capital stock The issuance of preferred stock neces
sarily involved change in the form OF CERTIFICATES
to be issued on the transfer thereafter OF stock pre-
adopted the form of certificate set forth in reso-
luton and provided that whenever after DeSGnn1
prior to the issuance of the preferred stock
such shares should be issued only in the form in
said resolution set forth Certncates IN tn"t form
ROCK ISLAND-The increase OF over 100000 in
October net for Rock Island realizes in part the
hope of the management that by the end of the
year the net earnings will be up TO those OF last
year. There remains about 100000 be made up
in November and December, and this will probably
be made In the first of these months. The increase
$4,000 in Frisco net brought the net earn
ings of 'Frisco's $3.50 miles for October within
$1,000 Of the figure for the 726O miles Of Rock Island
The increase Of about 100000 in the four months
amounts TO "a per cent Frisco common stock.
s29.0O0O00.
COPPER MARKET CONDITIONS.-The advance
in Lake copper which has carried the asking price
1874 per pound, the highest price of the
year. has still further increased the confident feel
ing in metal circles. Dealers say that in view OF
the unprecedented consumptive demand copper
is likely to sell above 16 cents in the near future.
Tho remarkable feature OF the strength IN the
metal is the comparative absence OF speculation.
gradual absorption Of the visible supply having
cleared the market OF everything In sight and the
price advancing under the stimulus of actual de-
mand The unprecedented activity In the cleo
trical manufacturing is absorbing copper at rate
never known heretofore.
BROOKLYN UNION CASH. is reported in we'll
informed circles that holders Of Brooklyn Union
Gas stock have received offer for their stock
a price many points above that ruling IN the
current market. According 10 a stakeholder as
much 500 share has been offered, but II is not
likely that the insiders Will be able TO secure the
stock in investors hands even at this price.
PHILADELPHIA AND ERIE-It Is understood
that a New-York syndicate ia endeavoring to
cure a large amount OF Philadelphia and Erie stock
This company is leased to the Pennsylvania. which
holds over 10000 of the common stock out OF
total issue of nearly IS 10000 outstanding all the
special per cent stock and nearly 100000 Of the
general mortgage bonds out of a total issue Of
over sS6OO0O0
strength in Louisville and Nashville due 10
buying OF the stock by important houses, the
heaviest purchases being made by Keech. Loew &
Co. the operations of this nrm helping the stock
TO cross AS. Earnings OF the company are ex-
trcnely satisfactory. Dat the idea that there Will
be an important increase in The dividend
the stock is not Endorsed by interests identified
with the property.
MOVEMENT. OF MONEY.-In the current week
the local banks for the first time III many weeks
1Iv IN Oh RpTNi
The interior we're in excess OF shipments by over
100000, while receipts Of new gold were over
81 100000 The hanks lost to the Sub-Treasury over
81 600. OO but enjoyed a net gain in all operations
Of 1851. 400. The net gain from the interior IS the
largest 1nce the week ended August IS just before
the crop movement began
CANADIAN PACIFIC'S NEW STOCK--The re-
cent SIC stock issue of the Canadian Pacific
Railway Company has been absorbed almost en-
tIrely by the stockholders OF the company. This
reflects great confidence the part of the owners
of the property in the future OF the road. and II
ought to prove bull argument in the stock market
for the issue.
MANHATTAN DIvIDEND.-Directors Of the
Manhattan Railway Company have declared the
regular quarterly dividend of III per cent on the
company's stock and extra dividend Of d OF
per cent for the nine months ending December 81.
The stock is permanent per cent divt-
dend basis.
HIGHER PRICES FOR STEEL BILLETs--It
Is understood that the meeting Of the steel
billet pool prices will be advanced 10 not less than
500 ton. The price of Bessemer pig iron Is eX-
pected to appreciate least 81 20 ton before the
beginning of the first quarter OF the new year.
Steel plates are also booked for higher prices.
STEEL. RAIL POOI.-It is said that announce
ment will be made within the next week or two
that the members Of the Steel Rail Association
have agreed on SIS a for steel rails for the
year 1906 While the decision OF the umpire selected
10 adjust the differences between the Lackawanna
Steel Company and members of the association
has been handed down, an official announcement IS
not likely 10 be given out this week.
COPPER SHIPMENTS VIA RAIL.-The steam
shin India is loading HoughtOn. Mich, with
copper taking the last metal consignment for the
season The demand for copper Is so strong that
stocks will not be allowed TO accumulate. and all
rail shipments will begin before the close OF the
month.
GRAIN EXPORTS 'Bradstreet's" reports the
exports Of wheat including -four for the week al
2101 ia bushels against $50 last week and
%, 5o4 last wear; since July l. 3012220 bushels,
against g. go 29s last year Corn. 364SH bushels.
AGAINST % $50 last week and 1.09S951 last year:
since July / S24 5g7 bushels against 256o24s5 last
year.
GOLD FROM PARiS.-The National city BANK
has made arrangements 70 import about %eV"" IN
French gold coin from Paris. 1t Is special trans
action Probably the gold is 10 to Cuba in pay
rnent for tobacco purchased by the French reggie
NEW COTTON EXCHANGE MEMBERSHIP
following have been elected members of the New
York Cotton Exchange: George \. Hero, of New
Orleans: Paul Schmtz, of Bremen Germany; Nor
ris Abra ham of Orleans. Charles :. Bryan
and Benjamin Wolf Of New-York; ]. K Gray, OF
Atlanta Ca. and G.. X. Hunt. Of Louisville.
DIES MONIES AND FORT DODGE BONDS
SOI4D.-Tha offer of the Central Trust Company.
Redmond & Co and Hallgarten 81 Co. 10 exchange
4 DArC ~ he IlsS