davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-07-20
TRADE IN CHICAGO.
IBY TELEGRAPH TO THE rarsUSs.I


Chicago July I9.-Ths heavy buyers OF yesterday
were the sellers in the wheat market this morn
ing and they were IN a hurry. Evidently the tenn
per OF the trade had changed. for conditions wers
atout the same. There had been too much buying
IN advance. Nobody. however. could give any
scod reason. In the morning withdrawal or sup
port by many OF the big bulls caused a reaction
and forced prices of e 10 IL cents. There was
early selling Of September wheat by Wsrs-Lsland
Bartlett Frazier Love & Co. and Spencer Den
niston. At the same time other houses big and
small were letting go wheat on stop-loss orders
The market sinking. The small holders did
not stop to ask questions; they sold out Whls
this was going on. Just as mary peopls ware
filing buying orders scaledowr. Under GAo
for new September this buying became genera u
was led by Lichstein & Comstock. The wheat was
Quickly absorbed. From S3sc the recovery started
The rally for the September was from s7l1c to Sisc
All the bull news ahoat hers came IN the foreign
cables The trade was feeling nervous over foreign
political moves growing out OF the ects OF Russia
In forcing the Dardalelles- Bears are playing tns
new wheat movement strong: the fine weather ID
the threshing belt Indicating preparations to mar
ket. Old July closed at Soc. the low price OF ms
day: the highest was s7S.c. New September closed
at S7S.c after selling high as SS12c early and a
low S7l2c.
Corn had weak spell to begin with. because Of
the favorable character OF the weather Later.
when some buying was done on the strength o.
some very poor accounts OF the condition OF 'a'
crop in the Southwest. the market stnened "
and the early sellers became anxious TO get inca.
sales covered Local receipts were SS cars, am
shipments hence $4,000 bushels. The estinats :"
to-morrow's receipts was III cars. Trade was V"!
small and almost entirely confined to the Local
spectators. The range OF July was from s'sc :"
$3.50 closing at 4Slsc- The highest for SeplShOs-
was 1880: the lowest. +Ss4c; the close was sac
The cat market opened fairly firm, but weaAehsN
In sympathy with tbs easy feeling IN corn az -
commencement and with the declining tende3'
IN wheat. Toward the middle OF the session coH-
siderable activity and strength developed ana t''
price easily recovered it's early loss and scre'n'
more. Local receipts were 155 cars, and shipln'Ns
n2.Goo bushels The estimate of tomorrow -
celpts 80 ears. The contract stock IN ChieAs s
public elevators is down to 10000 bushels '1'.
closed at the top price OF the day. S9Isc. Inc o~S
was Ss1ac September sold from $1sc up to Ss''
closing SIC TO SS1sc-
The provision trade is completely paraIy-eu =
the great strike. The packers are net maAins
move in the pit The trade and the public az.
foundering around for few days. abandoheu
market. The OF hogs was only 4SeN OF 10
the estimate. September pork. after Lite o 80,
to N2G1a early trades. settled back 10 -.
again at the close September lard eioseu
lower at s. S21a. ribs a shade lower at s'S''
s6O
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-07-20
STOCK LOSSES RECOVERED.
Ners Causes Foreign Selling Money Market Unchanged
Sterling Irregular.

changes. 2272o.5s; balances H.as4sE. Philadel-
phia-Exchanges, So. 347275 balances. sS.sSs.s04
FOREIGN MONEY MARKET.-Can money in
London. 2.Q21i per cent. Open market discount
rate for short bills, 2+sQ2. per cent; long oilIs
2u-l692% per cent. Berlin discount RATE rs per
cent. Berlin exchange London 20 marks ~
pfennigs. Paris exchange rate lAgls per cent
Paris exchange on London, rs francs 2S1z centimes
FOREIGN sECURrTES.-British consos for
money, ssh: for the account, SSh French rentes'
81 francs S7A centimes.
SILVER MARKET.-Bar silver, 6Shc; Mexican
silver dollars. 454c. Bar silver in London closed
at &c i3-isd.
GOLD PRENIUM.-In Madrid. S.S2; Lisbon DoO'
GOVERNMENT RECEIPTS.-Customs receipts
reported from Washington. sT6,e2s internal reve-
nue. receipts s4O2 $685. miscellaneous receipts S2osSs
Receipts for the day. 8. 1874: expenditures. ST.
$50 600 Receipts for the month TO date s26SS'60S;
expenditures SIS $50 900; OF expenditures sls-
eossA Receipts for fiscal year to date. s2Sso'eoe:
expenditures s5 900: of expenditures 49,
eos sA.
SUB-TREASURY.-The Sub-Treasury was DEBTOR
TO the Clearing House S,604S 9.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-07-20
WALL STREET AND EXCHANGES.

FOREIGN TRADING-Foreign houses dealt in
upward OF Is 900 shares in the local market, most
of which sales In the London market prices
were generally heavy. sales being made on the
theory OF possible international complications as
a result OF the seizure OF British merchant vessels
In the Red Sea by Russia. The money market
was slightly frmer in London
STOCK LOAN QUOTATIONS.-Loan quotations
were: Amalgamated Copper. Anaconda, American
Ice Brooklyn Rapid Transit. Erie common. Peo-
pies Gas Reading first preferred Rock Island.
Southern Railway preferred. Southern Paclnc
Sugar, Tennessee Coal and Iron. United States
Steel common. United States Leather preferred
Wabash preferred, Shelters common and Repuphc
Steel common. IL per cent? Atchison common ana
preferred, Baltimore and Ohio common Canadlan
Pacific, Consolidated Cas- Delaware and Hudson
Erie first and second preferred. Norfolk and west
ern Metropolitan Street Railway. Union Pacific
common and preferred and United States Steel pre-
ferred. per cent; Louisville and Nashville. Man
haitian and Missouri Pacific, 1Q1A per cent; New
York Central and st. Paul. MOI per cent; Pennsyi-
vania y per cent and Western Union. Republic
Steel preferred and American Locomotive pre-
ferred. fiat.
ERIE DIRECTORS MEETING POSTPONED
The meeting OF the directors of the Erie Railroad
Company called for yesterday afternoon has been
postponed, as It was not possible to obtain
quorum II cannot be learned yet when
meeting will be held TO act on the dividend on the
first preferred stock for the half year Inc oy-
laws do not require that the dividend be paid on
anv fixed date The meeting called for yesterday
was the regular time for acting on the dividend
question.
STEEL RAIL INQUIRIES.-Three OF the Dis
railroad systems whose combined rail orders an
nrally exceed $4,000 tons said to be seeking
bids for 1906 delivery. 1t is said that the Penn
sylvania Railroad is one of the roads making In
quiries and that it will want for next years use
about 10000 tons.
MISSOURI, KANSAS AND 1EXAS,-A mem
Der Of the executive committee CO the Missouri,
Kansas and Texas said yesterday tfat there was
no truth whatever In the report that a controlling
interest in the road had been sold by the Rookie
fellers to the Netherlands Association.
BALTIMORE AND OHIO-It is understood that
the income account OF the Baltimore and Ohio for
the year ended June 30 will show something under
per cent earned on the common stock for the
year.
report OF the Virgfnia-Carolina Chemical Company
for tho year ending June ID shows an increase OF
ss2 900 gross an increase of $4,000 in deductions
for depreciation a decrease Of $4,000 in the bal
ance applicable to dividends. and an Increase OF
S12 AT in surplus Interest charges for 1901 wero
increased largely by the 100000 working capital
borrowed last August. at rate commonly reported
TO have been between 10 and 20 per cent.
The following balance sheet Of the Virginia.
Carolina Chemical Company for 1904 compares with
that OF other years
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-07-20

RAILROAD BoNDS-Marl5et firm. Total sales
amounted in par value 70 g 900 against s2sls600
on Monday. The heaviest dealings were in the At
Gibson general As, Baltimore and Ohio gold 4s
Brooklyn Rapid Transit As Chicago. Burlington
and Quincy is Chicago. Rock Island and Pacific
Railroad Is end collateral trust 5s Kansas City
bort scott and Memphis As. Northern Pacific 4s
Reading general Is. ST. Louis and San Francisco
refunding IS. Southern Pacific Is, Union Pacific
first and convertible IS United Railroads of San
Francisco IS and Wabash debenture Bs Consoli-
dated Tobacco IS. United States Realty and Inn
prcvement debenture IS and United States Steel
Is also active.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-07-20

Trading In outside securities drifted slonx In
hstiess manner for the larger part of the session
After the noon hour business improved slightly
although what little interest was taken In the mar
Eet was IN the so-caled prominent issues and even
In these transactions were only to recent aver
ages The Volume of business was fairly we'll dis
tributed. with the fluctuations IN prices within A
parrow range Northern Securities continued
Heavy declining per cent on the refusal to COM
promise the suit Standard OIL was of moro than
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-07-20

two points. Seaboard stocks were easy. Marine
common was down a fraction Interborough Rapid
Transit was strong and in fair demand, rising l1s
Fer cent American Can shares were strong and
fractionally higher Havana Tobacco common was
up u per cent American Chicle preferred, on q
single transaction per sent on the excellent
report of the company. Phoenix Gold Mining. which
stricken from the unlisted department Of the
Stock Exchange, was traded in at loss of &c from
the opening transaction. The copper shares were
quiet but steady.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-07-20
Load2n New-York New-York
close. eQniValent clnse Chang.
MONEY AND EXCHANGE,

MONEY MARKET.-Money on call opened at IN
per cent; highest II. per cent; lowest u per cent
last loaA per cent; closed. per cent ruling rate
ia per cent. Time money was quoted at 2l2,z
per cent for sixty TO ninety days 2;kQs& per cent
Tor four months. per cent for five months and
VIZ per cent for six months. Commercial paper was
eeoteo al s1sS4 per cent for sixty to ninety days
f9f1 per cent for four 10 six months. and per
sent for others
FOREIGN EXCHANGE-Market clo,ad ,rr,
Actual closing rates follow:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-07-20

A ADVERTISEMENTS and subscriptions for IhS A''
~ received at their Uptown Othc1.
No. 1.3y4 BROADWAY. -, brancn
Advertisements will be received at the Ioos4
ofiices regular office until O'Clock fsth-sts
shave 2Sd-st: 15S GJh-aNe. COT nd
So f2d-st. between 90. Tas and
ia5th-st: l. SSS 3d-ave eetwsen nesr
nth l.o26 sd-sve 6lst-st Ltos $50 Sd
s0t,-at: f57 Fast I2sth-st; 100 fremont ave
ave-. near 4lst-st: asa 3d-ases ID ChrH
Brooklyn. ~. "a Court-st. 2t6 Court-Se
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-07-20
Bankers posted rates were.

DOMESTIC EXcEANGE.-New-orlean
mercial' SOC discount: bank. s. premium. san
Francisco-sight. SC; telegraph T5sc Roston-5c ais
count chicago-2Sc premium. Charleston-Buying
par selling. a-i9c premium Cincnnati-2Oc to 2sc
premium savannah-Buying. 75c premium. 81
Louis-4oc premium Minneapolis-soc premium.
BANK CLEARINGS.-New-Y - Erch.ngs.
szs6il.7T7; balances Ss2o5 ssl BaIt.rnore-Fx-
changes, ass: balances :27o ssz Chicapo-Fx
changes. 4os. balances. 81 sss Chicago-Ex
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-07-20
Financial Meetings.

NORTHERN SECURITIES COMPANY, NJ
AT A MEETING OF THE BOARD On -
~ rectors OF this Company held Tuesday. july w.
1901. following resolution adopted.
Resolved That the stock transfer books OF ut1 u
pany bs forthwith reopened and remain open ,tr hour
clock OF Saturday. July 3Oth 1904; at WS Ina
day they shall again be closed. 20 remain
r. T. NICHOLS. Secretary
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-07-20
AMERICAN SECURITIES ABROAD.

London. July -. p m.--The market for Amen-
can securities was generally heavy. Last quota
tions follow:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-07-20
tations were:
STOCKS.

Closing prices yesterday OF the principal active
securities and net changes from Mondays quo
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-07-20

Brooklyn Ferry stock
Huboksn Ferry LIST 5s. 1876.
DO stock.
~ Y & Z r Ferry Co stock.
DO LIST mtg IS. 1922. -.
NJ & III r Con IS. 1916. e..
10th & % SF LIST mig So. 1919
Union F OF n Y & b stock.
n Y & " ] LIST mg SIS. is+5.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-07-20

asked.
CHICAGO STOCKS.

FURNISHED by Charles @. Oates Co. Nos. II. 10
wau-st)
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-07-20
INACTIVE STOCKS.

Furnished By william T. Nichols q Co. Ne 10 wa-se,
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-07-20
THE DAYS OPERATIONS IN BONDS.

GOVERNMENT BONDs.-Market steady. Final
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-07-20
PHILADELPHIA STOCKS.
BONDS.
BALTIMORE STOCKS.

FURNISHED by Van schuick Co.. No. wal,-st,
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-07-20

Int Int. ,. lint Bid. A.ra
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-07-20
BON DIS.

1925 Total sales. odd lots.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-07-20
STREET RAILROAD BONDS.

sAEd interest.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-07-20
GAS COMPANIES.

FURNISHED BY william E. NichOl, Co.. No. is wall-,,J
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-07-20
FERRY COMPANIES.

Int period / BID IAsked
Bisbee daily review., 1904-05-12
Boston advices state:

Boston advices state:
 "Althoubh the Old Dominion Cop per Mining & Smelling company of New Jersey, for the first time in it's history, is now returning net profits, these profits are going back into the property in new contraction, and no portion of them will reach the treas ury of the Old Dominion company of Maine until present construction work has been completed.
 The Old Dominion company of Maine, however, will shortly be re- ceiving substantial net earnings from the United Globe mines, as it is esti- mated that the latter mines are now earning close to s40.000 net per month from the shipment of 300 tons of ore per day.
 At the present time the United Globe mines are shipping, or pre-ar- ing to ship, 200 tons of low-grade ore daily to the Douglas shelter for con verter Things, which is expected to net the United Globe about g per ton. UdltSf Ol SfoV per udg. III aduiN4oh it is shipping, or preparing to ship, 50 tons of high-grade ore to the Douglas smelter and 50 tons per day to the Old Dominion smelter which will run 10 to 12 per cent copper with small gold and silver values. from which the com pany will derive a net profit Of abolt $900 per day, or a total profit of aoc'lt $500 per day prom the 500 tons which is equal to 1000 net per month.
 President Smith. of the Old De- minion company. says that the Phelps-Dodge interests, maintain that the United Globe mines can continue these shipments indefinitely, and that they will be able to hold up their end of the proposition.
 An official of the Old Dominion is quoted: Conservative mining people who are not interested in the matter, believe that they by uniting the Old Dominion and United Globe a min ing proposition will be worked out at Globe which will compare favorably with any of the camps of the south vest"
Bisbee daily review., 1904-05-12
Calumet PittSburg
 IS STILL Making Improvement
THE NEW PUMPS ARE ON THE GROUND AND NEW cOMPART-
 MENTS FINISHED,
Tim5ering Is Going on in the old Compartment and Foundations For the Big Boilers Being Laid.

Work at the Calumet and Pittsburg has been progressing rapidly since the last account given by the Review.
 The new gallows frames are in place and the new compartments have been completed.
 The work of replacing the timber in the old compartments is progress ing rapidly.
 The foundation for the under ground pumps are well under way as is the foundation for the boilers that are to furnish the power for the new pumps.
 All the station and sinking pumps have been received. The work of getting them in place will commence this week. The machinery, including the piping. is now in transit.
 There were no material changes in conditions at the C. & A, since the last account given by the Review.
 The work on the new ore bins is progressing rapidly and new founda- tions are being laid for the oil tanks.
Bisbee daily review., 1904-05-12
Warrefl nlinin9 District
The Position
 OF COPPER At Present Time
OFFICIAL FIGURES OF IMPORTS AND EXPORTS, NOW REPORT ED MORE COMPLETE
 THAN EVER.

Stocks in esistence.-Aoout 62,ooo Tons.-European Manufacturers orsn- ed With Light suoplies.-incre. SC in Production This Year Mainly From Lake Superior Distric. and Arizona.
Bisbee daily review., 1904-05-12
APRIL DIVIDENDS.
Paid by the Mineral Industries in the
 United States

Paid by the Mineral industries in the
 United States
 April dividends paid by the mineral industries in the United States. as collected by the Journal, were not as favorable as in the preceding three months. chiefly as result of the ab- sence of some large quarterly pay ments. However, 54 concerns re- ported dividends of s5.133.s59. and it is interesting to note that nearly one half of this amount. or s2,456,4 ,435, was distributed to preferred stock holders at the annual rate of to s per cent on the capitalization. There were thirty-four metal properties that divided s3,O44,934, and of this the American Smelling 6 Refining compa- ny contributed s1,500,000 as quarter ly payments on its per cent preferr- ed stock and per cent of the com mon. The balance of s2,0ss,925 of the total dividends for the month was declared by 20 industrial con cerns, principally coal and coke and chemical works. - Engineering and Mining Journal.
Bisbee daily review., 1904-05-12
Big Mining Deal
 IS MADE
 In GiIa County
\ PlTTSBURG MAN TAKES UP NINETY DAY OPTION AND
 PAYS CASH.
Property Is Situated Nine Miles From Globe, Near Richmond Basin-Crop- pings Give indications of Big Mine.

Quite an important mining deal was consummated this week by the sale of the Gleason & Whelan copper proper ty to Joseph Pfister, formerly of Pitts burg, Pa, who for the past year has been developing gold mine on Tonto. MT. Pfster took up 90-day option on the Glasson & Whelan group, paying cash for the property, the transaction being conducted through the Miners & Merchants bank.
 The property purchased is situated about g miles northeast of Globe, near Richmond Basin. MT. Pfister has also secured a years bond on the Weather wax property adjoining, and which, to- gether with other ground located, give MT. Pfister a group of twelve claims.
 The formation is lime and quartzite cut by an immense iron dyke running Az per cent in hematite iron and man ganese carrying per cent of copper. This is very desirable for Aux and thousands of tons of it used by the United Globe and some by the Black Warrior company.
 The croppings give indications of a big mine, and Mir Pfster is confident that sulphides will be encountered at a depth not to exceed 300 feet, and it is his intention to sink two or three compartment shaft
 Mir. Pfster and his brother, who was recently here, will probably or ganize company in Pittsburg for the development and operation of this property-Globe Belt
Bisbee daily review., 1904-05-12

In this statement the imports giv- en are the net imports, after deduct ing re-exports of foreign copper ma terial; so as to eliminate material reaching our ports only in transit. The exports include copper contents of ores and matte. as well as refined copper. These exports were on a scale almost unexampled during the quarter under review. European manufacturers opened the year with vey light supplies and were faced by active business and large orders, so that they were forced into the market and remained buyers on large scale all through the quarter. Three causes have combined to produce this activity, abundant money and con sequent development of schemes for electrical work; the consumption of copper in war material and war ships; and, though to less degree, the pros poets that exports of metal from Japan would be stopped.
 The difficult point in the statement has been the determination of the home consumption. A year ago, the best authority estimated that manu- lecturers were using 45,000 900 pounds a month. The quantity has fallen off considerably, though not to so great an extent as is commonly believed. We think that, in assuming a con- sumption less by one-third than that of the first quarter of 1903, consefva- tive estimate is reached.
 The increase in production has 5oen moderate this year and has been mainly from the Lake Superior dis trict and from Arizona; other districts and notably Montana, having shown little change. Later in the year, from present indications, a larger gain may be expected.
 The result shows that stocks are not above the normal figure. This is confirmed by careful inquiry, which does not show anywhere any surplus of metal existing. There is none pressing on the market and deliveries as a rule are made direct from the re- fineries.
 Present indications are for con tinuance of the strong position now shown. There is not likely to be an increase in domestic consumption; {; on the other hand, no large decrease is possible. Foreign demand, which fell off a little in the first part of April, has now been renewed on large scale. If it should continue, as seems quite probable, there will be a scarcity. rather than a surplus of copper - Engineering and Mining Journal.
Bisbee daily review., 1904-05-12

Dan Gallagher and Jas. Cox started out Wednesday morning for Old Mexi- co. where they will prospect for three months, says the Morenci Obrero. They are sent out by a company of the purpose, and who hope to realize anesomeiy from the enterprise.
Bisbee daily review., 1904-05-12

Prospectors who have been forced to remain close to camp. on account Of a lack of water in the hills, are again packing the festive burro preparatory to another quest of the mineral loca- tions.
Bisbee daily review., 1904-05-12

While We no longer have as a guide the useful figures of production for merly issued by the Copper Produc- CTS Association information is still attainable, which makes it possible to form a fairly close estimate of the output of copper in the United States. We have also at hand the official fig ures of imports and exports, which are now reported in more complete form than ever before. An estimate based on the best data to be had shows that the position of copper at the present time is strong. and that there is no probability that the mar ket will be weakened by the exist ance of any surplus stocks of metal. It must be remembered that a per iod of not less then D days-probab ly nearer 90 days must always lapse between the time when produc- ton is reported at the mines, and when it is ready for market. This time is taken up in smelting, transpor tation and refining, and connot be shortened in any way. There is always, therefore. a stock nominally on hand, amounting to two and one half CT three months production of copper; and this may be called the normal stock, which cannot be re- duced to any appreciable extent.
 At the beginning of the year the stocks in existence were a little above this point; at the present time they must be close down to the nor nal limit. Our estimate of the course of copper during the quarter ending March 31 is as follows, the figures being given in the long tons, of 2,240 pounds:
Bisbee daily review., 1904-05-12
Jn Particular witb Otber Jm. portant Jnfcrmation from Per. $cnal Observation e@e @@ @@e
The Big Copper
 MINES OF The Globe District
UNITED GLOBE PREPARING TO SHIP 200 TONS DAILY TO
 DOUGLAS SHELTER,

Expected to Net the United Globe $2 Per Ton, or s4oo Per Day-5o Tens High Grade Ore Going Daily to the Douglas and Old Dominion Smeit- er-EquivaIent to s39, 1000 Per Month Net Receipts.