New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-07-26
WALL STREET AND EXCHANGES.

FOREIGN TRADING-Foreign houses dealt in
1900 shares in the local market. buying
balance. In the London market Japanese Is
joyed a sharp advance. while home rails were frac
tionally higher. Discounts in London again ad-
vanced. In Paris French per cents were strong.
and the tone of the general market was generally
improved. except the Russian Is. which were
heavy. In Berlin trading IN securities was quiet.
According TO cable dispatches spectators on the
foreign EXCHANGES are not disposed TO make &C
tive commitments in the market. pending the out
come of the situation which has been created by
Russia in selling British and German merchant
vessels
STOCK LOAN oUoTATIONs-Loan quotations
were: Arnalgamated Copper Anaconda, American
Ice, Brooklyn Rapid Transit, Erie common, Peoples
Gas, Reading first preferred, Rock Island Southern
Railway preferred, Southern Pacific. Sugar Re
filming Tennessee Coal and Iron United States Steel
common United States Leather preferred Wabash
preferred. Smelters and Republic Steel
common l per cent; Atchison common and pre-
ferred. Baltimore and Ohio common, Canadian Pa
cific. Consolidated Gas. Delaware and Hudson.
Erie first and second preferred. Louisville and
Nashville. Manhattan. Missouri Pacific, Norfolk
and Western, Metropolitan Street Railway. Union
Pacific common and preferred. and United States
Steel preferred. %Q1 per cent; NewYork Central.
Pennsylvania and ST. Paul. q per cent. and West
ern Union. Shelters preferred and Republic Steel
preferred. fiat.
ADVANCE IN FOREIGN EXCHANGE,-There
was sharp advance in the foreign exchange mar
ket yesterday. the rate for sight bills advancing
10 points, sixty-day bills 80 points, and cables p
points. making an advance since Friday night OF
50 points the demand sterling and so points for
cables. The demand for cable transfers was heavy.
requirements for remittance being pressing. There
is considerable amount of short interest in the
change market. and the advance in yesterdays
market naturally caused scramble among the
shorts TO get OF their contracts. leading for
eign exchange banker was quoted saying that
visa 11tai in
to scarcity of commercial bills Cotton bills are
this year, hence the people who put out bank
ers bills earlier in the season. expecting to cover
with cotton bills have been disappointed, and
naturally they have been compelled to go into the
open market such bills. with which they
could cover The banker further quoted as
saying that he did believe the European pOliti
cal situation had anything to DO with the uneasi-
ness of the shorts. OF course the advance in Lon
don discounts and the Of money at this centre
are important factors in the current advance in
exchange.
REPUBLIC IRON AND sTEEI~-It Is an
nounced that the profits from the OIL fields con-
trolled by the Republic Iron and Steel Company IN
the State Of Indiana now aggregate between $4,000
and $4,000 per month. A person in close touch with
the affairs Of the corporation says that the work OF
developing the Indiana fields Will be continued as
rapidly as possible. and that within a very short
time earnings from oil alone will be IN the neigh
borhOod OF 10000 per month. The company con-
trolls about 2000O acres IN Indiana,
NORTHWESTERN EARNINGS DECLINE
For the month Of June the Chicago and North
western Railway showed decrease in gross earn
ings of $al5I72. as compared with the month
a year ago For the fiscal year however. gross
earnings increased s.. $3.50
BROOKLYN RAPID TRANSTT'S EARNINGS
II is understood that the gross earnings OF the
Brooklyn Rapid Transit Company for the last week
were the largest In the history Of the company
For the first seventeen days of thu month gross
earnings showed increase OF p5 $50. com
pared with the same time year ago.
TENNESSEE COAL AND IRON.-The advance IN
Tennessee Coal and Iron in the early dealings
due 10 operations by Jacob Field who bought 10000
shares Of the stock.
STOCK EXCHANGE SEATS HIGHER IN
NEUTRALITY-SUSPICIOUS. are In progress for the sale
Of two Stock Exchange memberships for sss-
600 and the other for $1,000 The last sale OF a
seat was at So 90
STEEL DIRECTORS To MEET TO-DAY-At
the quarterly meeting this afternoon OF the GARD
Of directors Of tho United States Steel Corpora
ton the net earnings for April May and June will
he made public and action will be taken on the
preferred stock dividend. II is generally believed
in Wall Street that the fun per cent rate will he
maintained. 4 quarterly dividend OF IL per cent
being declared.
To PAY THE AUGUST INTEREST-It was off,
cially announced after meeting OF the directors
OF the Standard Rope and Irvine Company held
yesterday afternoon. that the coupons for
August on the company's bonds would be- paid
1t was also announced that A r. Turner had re-
signed vice-presdent and director and that
George ". Montgomery had taken his place as
vice-president